PFD Response Letter Help

[Anonymous]

Hi Everyone,

I recently received a response to my PFD from Accelerated Financial Solutions (AFS). The letter reads as follows:

"In response to your letter we received on 5/26/2015, we have asked the original creditor (Dollar Financial Group) to provide us with the supporting documentation regarding the above mentioned account.  In the meantime, we are requesting the credit reporting agencies remove this tradel line and we will cease all activity on this account while we investigate the matter.  Upon completion of our investigation and receipt of any supporting documentation, we will provide you with a copy of all material we receive in whatever fashion you would like (email, fax, etc)..."

Question 1: What is my next step?

Question 2: Do I respond to this letter or allow the investigation to take whatever time is needed?

Question 3: Can this trade line return to my credit report(s) after the investigation?

I appreciate all the advice you have to offer.  Thnx

[gdale6]

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@Anonymous wrote:

Hi Everyone,

I recently received a response to my PFD from Accelerated Financial Solutions (AFS). The letter reads as follows:

"In response to your letter we received on 5/26/2015, we have asked the original creditor (Dollar Financial Group) to provide us with the supporting documentation regarding the above mentioned account.  In the meantime, we are requesting the credit reporting agencies remove this tradel line and we will cease all activity on this account while we investigate the matter.  Upon completion of our investigation and receipt of any supporting documentation, we will provide you with a copy of all material we receive in whatever fashion you would like (email, fax, etc)..."

Question 1: What is my next step? Wait for them to complete the investigation and get back to you, you will want to have the info sent to you by mail.

Question 2: Do I respond to this letter or allow the investigation to take whatever time is needed?  Same as above answer

Question 3: Can this trade line return to my credit report(s) after the investigation? Yes its possible if its still within CRTP

I appreciate all the advice you have to offer.  Thnx

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[Anonymous]

Thank you, GDale6! Will the 30 - 45 days rule apply to the investigation?  Also, what is CRTP? Is this the timeframe the trade line is allowed to be listed?

[gdale6]

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@Anonymous wrote:

Thank you, GDale6! Will the 30 - 45 days rule apply to the investigation? No, there is no set time to complete this they dont have to validate at all there is no law forcing them to do so. Since this was off a PFD they most likely have interpreted it as a debt validation request or its possible they have no collection authority at all.

Also, what is CRTP? Credit Reporting Time Period.  Is this the timeframe the trade line is allowed to be listed? Yes, derog COed accounts and CA accounts can only remain on ones CR for a 7.5 yr max period of time from the accounts DoFD

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Guide-To-Common-Abbreviations/m-p/224988?jump=true

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[RobertEG]

You apparently included arguments in your PFD offer that resulted in their determination that it was a request for validation of the debt.

Debt validation (DV) requests, if sent within 30 days of your receipt of dunning notice, impose a cease collection bar on the debt collector, which remains in place until such time as they have provided the requested validation.  See FDCPA 809.  There is no requirement to or period for response to a DV.

They are placing their collection under a bar until they respond.

If you wish to inform them that your previous letter was not a request for debt validation, but only a request for their agreement to delete upon your payment, then you can send a new letter clarifying that there is no DV request.

Be aware that if you accept their view of a pending DV request and cease collection bar, then they are barred from conducting any negotiaions with you until they have first provided debt validation.  If a prompt decision on your PFD offer is your goal, then notification that you have no pending DV request would be to your benefit, and thus permit them to negotiate/respond.

[Anonymous]

Yes, RobertEG, Great information. Thank you. I did include a request to DV. I will respond with a request for the alternative, a PFD.