No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Hi, I got an alert this morning that my credit score dropped 25 points! I logged on to my credit monitoring site and it says that a new collections account was reported in 9/2014. The collection agency purchased it from CitiBank and the reported "original amount" is $12,886 and it says the balance is $13,000. I had a CitiBank credit card in college that shows up as "last payment made 6/2006" and "current; paid or paying as agreed". I don't remember having not paid it off, and the limit was only $1600. I've never had a credit card balance anywhere near $13,000! The only thing that shows up on my credit report (both TransUnion and Equifax) is that $1600 limit card that was closed 6/2006. Transunion says "Estimated month and year that this item will be removed: 11/2014". I don't understand why it would only appear for 2 months? Do I dispute it? Or wait for it to be removed next month?
What is the SOL in your state?
If its out of SOL, I would just let it die a natural death in two months unless you have serious need for a mortgage or car loan *right now*
If they don't send you a dunning letter within 5 days of placing it on your report, its a violation of either FCRA, or FDCPA, not sure which applies that rule...
I would recommend pursuing it, even if SOL and credit report exclusion have expired.
You have somone out there asserting you owe a delinquent debt. That raises issues should you be asked to disclose any unpaid, delinquent debt.
DV is the normal first step when you dispute the legitimacy of a debt.