Please myfico family, help me with this sticky.... what would you do?

[TXinandout]

Verizon was forced to validate a debt (11/2011) via executive office and now said the debt is being collected by a collection company (according to a lady in the executive office), this collection company isn't on my report. I know for a fact that Verizon internal collections department was handeling this debt, they just validated the debt and said I owe them the money.

Here comes the sticky part.... Verizon's tradeline shows in my account open and in collections with an amount due (it hasn't been charged off) , I really want to send them a check and paid the amount in full, but what if this changes the date of first delinquency? I want to pay this before the other collection agency shows up on my report.

What would you do, any suggestions?

Thank you very much in advance

[guiness56]

If it is already in collections, paying it off is not going to change the DoFD.  It doesn't need to be charged off to have a DoFD.

Verizon doesn't have to validate a debt, only 3rd party collections agencies.

What other collection agency?

[TXinandout]

Thank you very much for your answer guiness 56. Well, in Texas whoever is collecting must validate the account because of state laws and Texas Finance Code. The other collection agency they said it was CBE Group, they soft my credit report back in May, but nothing has showed up.

So, should I go ahead and sent Verizon a check? The letter came from Verizon Wireless Financial Services National Recovery Operations out in Minneapolis, MN.

Thank you once again.

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@guiness56 wrote:

If it is already in collections, paying it off is not going to change the DoFD.  It doesn't need to be charged off to have a DoFD.

Verizon doesn't have to validate a debt, only 3rd party collections agencies.

What other collection agency?

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[guiness56]

TFC 392.202 is specifically for 3d party debt collectors and not the OC.

It sounds like that is an internal collections department.

I would just pay Verizon and deal with the other CA if they pop up.

[TXinandout]

Yes, I'm going to go ahead and pay Verizon. Should I put on the back of the check and endorsment note? Something like only payble to Verizon Wireles, not transferable(I don't know just an idea).

By the way, I know TFC is for 3rd party debt collections, however Verizon was technically doing the collections and I never received anything (final bill or collection notice). Because of this I'm forcing TFC over Verizon, I will meet with a consumer lawyer this Friday and are going to file against Verizon... I will let you know how it goes from there.

Thank you once again.

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@guiness56 wrote:

TFC 392.202 is specifically for 3d party debt collectors and not the OC.

It sounds like that is an internal collections department.

I would just pay Verizon and deal with the other CA if they pop up.

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[guiness56]

I don't know if restricted endorsements are valid in TX.  But I would guess the check can only be cashed by who it is made out to. 

I know Verizon was doing the collection but they are allowed to do that.  It is still considered the OC collecting and they do not fall under the FDCPA or the TFC 392.  Not sure you can force the TFC on them for that but I guess you can try.  Good luck.

[TXinandout]

Got it and once again thanks a bunch!

[bat21]

Verizon wireless does use a third party for collections.  I would talk specifically to a Verizon Wireless service representative and explain the situation.  Verizon is pretty good with doing PFD's.  I did it on the wireless and business side and it worked.

[guiness56]

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@bat21 wrote:

Verizon wireless does use a third party for collections.  I would talk specifically to a Verizon Wireless service representative and explain the situation.  Verizon is pretty good with doing PFD's.  I did it on the wireless and business side and it worked.

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Yes, they do.  In this instance it would seem it was an internal collection.

[OptimalFICO]

Consider contacting Verizon corporate:

Mod Cut - No names allowed.

Verizon Communications Inc.

140 West St.

New York, NY 10007

(212) 395-1000

******* is responsible for the company’s finance and strategic planning operations, and financial transaction services. I would include in any correspondence that it is your intent to satisfy (pay) the debt in full. His office should route your correspondence as appropriate to someone with the authority to resolve the matter.