Reply
Established Member
Posts: 14
Registered: ‎12-06-2012
0

Question about sending a DV

I am a bit lost on the DV process. I have 3 Baddies on my CR that I know for a fact aint mine.

I had 5 and was able to get 2 removed thur CA.

 

My question is can I send a DV to baddies that are several years old or do they have to be new baddies



Starting Score: 610
Current Score: 612
Goal Score: 850

Take the FICO Fitness Challenge
Moderator
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Question about sending a DV

The DV is most efficient when it is within 30 days of the first dunning notice.  However I've used them well past this.  It just helps to clear up who has the debt and what it's for.  I would definitely send the DVs out and see exactly who and what those debts are for.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Established Contributor
Posts: 841
Registered: ‎12-09-2012
0

Re: Question about sending a DV

Shogun,

Sharpening my knowledge here. Would a PFD also work if its a little amount just to get it of? Something along the lines of a PFD letter like this:

 

It has come to my attention that < Collection Agency Name> is reporting negative information to my credit file regarding acct #XXXX with an outstanding balance of $200.00(example amount) from <month/year>. I am unaware of what this pertains to, as I never received anything from you about this, but in a gesture of good faith, I would like to offer to pay this amount in full < or %> in exchange for it's complete removal from our credit reports at all three credit bureaus.

12/4/12 TU 589 MyFico ~EQ 579 MyFico ~EX 577(Fako)
1/15/14 TU 665 | EQ 648 | EX 655 ~Myfico scores
1/29/15 TU08 666 | EQ08 676 |EX08 655 } EQ04
My Wallet: Cap1 3,500K ~FH 950 Credit One 1300~Orchard Bank 2000~ Matrix 400 ~NFCU nRewards 18K~NFCU Cash Rewards signature| 8K ~Care Credit 3,500
Last Negs to fall off: 2-Cap1 CO's PD (fall off 1/17)~Foreclosure (fall off 1/16)
Moderator
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Question about sending a DV

That is an excellent letter!


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Established Contributor
Posts: 841
Registered: ‎12-09-2012
0

Re: Question about sending a DV

Thanks! Some one else posted one similar and I altered it for the medical ones we plan to send out but wasnt sure if it would work in the OP's case if they just want them off.

 

12/4/12 TU 589 MyFico ~EQ 579 MyFico ~EX 577(Fako)
1/15/14 TU 665 | EQ 648 | EX 655 ~Myfico scores
1/29/15 TU08 666 | EQ08 676 |EX08 655 } EQ04
My Wallet: Cap1 3,500K ~FH 950 Credit One 1300~Orchard Bank 2000~ Matrix 400 ~NFCU nRewards 18K~NFCU Cash Rewards signature| 8K ~Care Credit 3,500
Last Negs to fall off: 2-Cap1 CO's PD (fall off 1/17)~Foreclosure (fall off 1/16)
Mega Contributor
Posts: 19,453
Registered: ‎03-19-2007
0

Re: Question about sending a DV

Personally, I would not pay a debt that is clearly not mine.

 

The DV process is not the best way to address "account not mine" issues.  Presumably, the creditor has some basis for asserting that you are the responsible consumer.

In response to a DV, they are only required to verify that their records support that finding.  They are not required to "prove" it.

 

A DV, even if timely, which yours apparently would not be, only imposes a cease collection bar on the debt collector, and does not compel their response.

If untimely, it imposes nothing on them. 

 

The FRCA provides a procedure for addressing assertions of account not mine.  You file a police report, stating that you never authorized the account, and thus that its reporting could only have resulted from unauthorized application/use by another.   If you send a copy of the police report to the CRA, they are required under FCRA 605B to immediately block that information from your credit report.  If you send a copy of the police report to the creditor, they are required under FCRA 609(e) to provide you all business records in their possession related to the establishment and use of the account.

 

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.