OC Verification Question (Happy Days this one is for you)

[reno55]

I got some results back from the CRA's showing that several OC's verified some items. I have just today sent letters to all the OC's stating:

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"Since I have disputed the account with the credit bureaus, and you have verified them, I would like to see what sort of records you have for this alleged account. Under the new FACTA laws, you are required to conduct an investigation on this account, and I am now requesting it.

In order to clear up this matter, I would like to see:

Complete account history, including, all statements, records of all activity, payments, collection attempts, and any charges added for collection activity; In short, any and all documentation pertaining to this account

If you don't respond with the results of the investigation (as is required per the FCRA), I will assume you have no documentation and therefore you were negligent in providing the credit bureaus with accurate information. At this point, you would also be in violation of the FCRA merely for not responding within the 30-day period."

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Well today I got replies from two of the OC's stating that the accounts were sold. My question is this.....does this mean they have nothing that would enable them to verify with the CRA's as they did? How do I pursue this?

[Anonymous]

Good question...I want to know the same...I sent a OC DV letter to HSBC last month...and got the same reply...the account was sold...to the CA...

[reno55]

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@Anonymous wrote:
Good question...I want to know the same...I sent a OC DV letter to HSBC last month...and got the same reply...the account was sold...to the CA...

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Someone has to know the answer to this one....my thought process is since I just sent them a request for what they used to verify if I get the same response again the CRA's would almost HAVE to delete.

[Anonymous]

I also would like to know the answer. I've sent several OC letters one to HSBC in which I received the same response. Account has been sold. Then for the others I haven't received a response at all. I also sent MOV letter to the 3 CRA and received the standard form letter which says information not available or to contact the original creditor.

[reno55]

bump

[gdtobefree]

If I am not mistaken, they will still have your name, address, SS#, and an account # still on file, if it had been sold then all the account records such has payment history, balances and past due balances were in the records sold to the CA, just because they sold the account doesn't mean they don't keep records of their customers.

We all could only wish that once they SOLD the account to a CA they would "purge" you from the system and be done with it.

They have a program that alerts them when an account is at the 7 yr mark and it automatically transmit to the CRA to delete the account, other then that it goes in a "dead" file if you will.

What they verified was that YES you DID have that account with them wayyyyyyyy back when.

If it was SOLD and not ASSIGNED to a CA then they should report all 0 balances and either mark the acct Paid after CO, CO, transfered to another office, or placed for collection, written off as bad debt.

If it were ASSIGNED to a CA it will still have all the balances, that being Current balance, and a past due balance on the account.  

[Anonymous]

That's not what we are saying...when a OC verifies an account...and you send them a OC DV letter...they have to validate...just like a CA does...so if you think something is incorrect...they should be able to show the statements...and prove that to you...

They should keep their records...and I know in my case...I did a PFD with the CA...so that's long gone..and I'm not trying to back track...they need to put up the validation...if they can't validate...they should have to delete...

[adamseve]

HSBC sent me the same thing.  I finally sent them the OC DV letter.  Hopefully this will get me somewhere.  If not, I'll have to submit all the info to the CRAs and keep my fingers crossed.

If they recently sold the account then surely they have the information on file of what they sold and how much they were paid by the CA.

[Anonymous]

BUMP...for HappyDays...