Credit Card Center Advertiser Disclosure†
10-12-2012 09:37 PM
10-12-2012 09:39 PM
No, failure to respond to a DV even timely does not require deletion from information already on your CR.
10-12-2012 09:42 PM
10-12-2012 09:58 PM
What you are referring to, some call the 1-2 punch. These only get lucky if the CA doesn't validate the debt to the CRA. It in no way compels them to delete. First off, unless the DV is timely, or you live in the state of Texas, they don't have to respond to anything. If the DV is timely, then they are barred from further collection attempts until they validate. That does not affect what is already on your CR. If say a year down the road, they decide to validate, then they do that and resume collection.
10-12-2012 10:09 PM
10-12-2012 10:26 PM
So basically, I can DV the CA but if they dont respond to me but they do validate with the CRA I have no leverage to use that against them with the CRA?
Am I understanding this correctly?
Debt validation is a FDCPA thing... debt reporting is a FCRA thing.
They are different processes, different rules, different everything.
10-12-2012 10:46 PM
That makes sense.. my legs already hurt from jumping through hoop after hoop and I have just started this week. =)
Yeah; I know the feeling... legs still hurt from years of it
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. 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.