OC AND CA reporting same debt, Help please?

[Anonymous]

Hello!

Thanks in advance for your guidance! I had a CL of $900 with Cap1 back in 2003, Last activitiy in 2007, was reported as bad debt in 2008 with zero balance. Then they sold the account to LVNV who is reporting the collection (same account) but of course the balance is now around $1,700 with fees every month they report!!!

I would like to do something about these two. What can you, experienced "rebuilders" would advice? Do I send a GW letter to Cap1 and a PDF to LVNV, will these even have a shot? Cap1 was verified by CR back in 2005 and LVNV just recently but I haven't sent any DV to them...should I maybe start there with them or is there any other better approach?

[GoodCredBen]

i had a TWO cap ones from 2008 that had 300 dollar limits on them, that i ended up settleing with a debt collector to pay for for 1k+ each..... 

that was in early 2010, so somewhere around 1 1/2 years build over 1k in interest/fees? lol

-------EDIT-------

I sent GW letters to Cap1 not to long ago.... soooooooooooooooooooooooooo lets see what happens

I also settled with the CA - not knowing that you could even PFD

[Anonymous]

What amazes me it's how LVNV keeps accumulating fees/interests EVERY month...now that i have SW! I really need them gone. i am more tempted to start with a DV since I need to know how they came up with those numbers anyway...ghrghrhryf!!!

[kjm79]

You should always start with a DV to make sure you are paying the right people.  If you are satisfied with the DV THEN start offering the PFD's.  There are to many scummy CA's out there that will stick a collection on your reports or send you a letter stating they own a debt and try to get you to pay to make them go away when in all actuality, they don't own squat.  Always DV first.  Unless you know for 100% certain you are dealing with the right CA. 

[Anonymous]

LVNV...ugh.  Hated dealing with them.  They are very shady, deal with them in writing only.  DV them first, do not do a PFD first.  Be sure to mail it CRR because they will more then likely ignore you.  Wait 30-45 days, then DV them again.  Second letter be a little be more strongly worded, cite FDCPA laws.  Be sure to mail it CRR. 

If they still don't respond:

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sidewinder wrote:

Send a copy of the DV Letter, a copy of the green card where the CA signed for the letter, copies of your ID, and a letter to the CRA that is reporting the account and state in your letter:

I requested debt validation per FDCPA 809 from “CA” and they have failed to respond. FDCPA states that if the CA doesn’t or can’t validate a debt, they must cease collection activities. The FTC has issued the opinion that reporting on one’s credit report is indeed collection activity.

It doesn’t have to read that exact way, but something to that point.

You’ll send the letter CMRRR and wait some more. The CRA will begin an “investigation” and it will take 30-45 days. Do not contact the CRA during this time. They will respond with your results.

If after doing this, it remains on your CR, I would file a complaint with the BBB regarding the FDCPA violations of the CA, including any FCRA violations they may have as well. Present your case well, cite FDCPA/FCRA that they violated, cite the court case and FTC opinion that ruled that reporting was a collection activity, etc.  It is likely that a “compliance officer” of some sort or the in house lawyer from the CA will be reading this and responding, not the average representative who knows little about FDCPA/FCRA.

If filing a complaint with the BBB doesn’t work, then I’d file a complaint with your AG. Remember when you checked to see if they were licensed and/or bonded in accordance with your state laws? If they were not in compliance, now is the time to drop the boom. Mention this in your complaint to your AG.

Now, if none of these steps work, then I suggest you post a thread explaining your situation. Make sure you have exhausted all avenues mentioned here.

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[Anonymous]

Thank you all for your inputs. You're right. I will send a DV letter first then and I'll go from there. As far as the OC (Cap1), I will try the GW letter asking to remove the CO account...wishing here but who knows?

[Anonymous]

Now that I sent my DV to LVNV for the CapOne debt, I still have  the other charge off with Citifinancial but the latest has a balance and the CA (LVNV again) has a balance as well but of course with tons of fees/interests that at this point it's almost double the started balance ($1600 from Citi, $2860 LVNV, same debt).

Question is: Can Citi still report a balance even though charged off AND account sent/sold to CA who is reporting as well? Shouldn't Citi show zero? I am a bit confused on this. Can someone please confirm?

[Anonymous]

You are correct.  If an account has been charged off and sold the original creditor should be reporting a $0 balance. 

[Scope27]

Most frontline CSR's will tell you that they can report the balance.  I dealt with two banks that told me by law they can report an owed balance even if the debt was sold.  I called the CRA's and every rep told me to dispute it because once a OC receives a payment for a debt, the debt isnt theirs anymore and should report a $0 balance.  Regardless if you settled with the CA, once its sold you no longer owe them, thus it should reflect that.