Approved for Amex Gold Card, But..

[Toonie]

I also just applied and was approved for an AmEx Gold Charge and was approved. Im in the process of rebuilding my credit. This morning I received notification that a new account was reporting to my EX and EQ reports. I checked them thinking it would be AmEx and much to my dismay it was from a company called CVF Consumer Acquisition Co and upon further investigation appears to be a debt buyer that purchased an old charged off account that has a DOFD of 5/2005. I'm not sure what to do. They have not contacted me and I'm wondering if this is somehow associated with my new AmEx app approval. Do you all think I should contact them and attempt a pfd or wait to see if they notify me? This is my first post although I've been lurking several months. I'd appreciate any feedback? Thanks.

[pizzadude]

I agree, dispute it. And also opt out.

[pizzadude]

Sorry I meant to say DV the CA, not dispute it with the CRA

[Toonie]

Thanks for the feedback. I wish I had made my inquiry earlier because I immediately disputed this with the CRA's when this came through as an alert this morning as a "new account has been opened in your name". It wasn't until after disputing that I realized it appeared to be tied to an old charge off. With that said should I still write a DV letter to the CA although they have not sent me any notice/letter? Should I send this certified mail? Below is how it reports on my EQ report although it reports a little different on EX. Is the CA in violation of anything since they have not had contact with me? It does appear the DOFD matches with the date from OC. Thanks to everyone again for any assistance, I'm still trying to get this credit rebuilding stuff all figured out.

CVF CONSUMER ACQUISITION CO 12700 WHITEWATER DRIVE MINNETONKA, MN-55343 (952) 984-3972 Account Number: 511XXXX Status: COLLECTION ACCOUNT Account Owner: Individual Account. High Credit: $2,177 Type of Account : Open Credit Limit: Term Duration: Terms Frequency: Date Opened: 08/2011 Balance: $1,284 Date Reported: 12/2011 Amount Past Due: $1,284 Date of Last Payment: Actual Payment Amount: Scheduled Payment Amount: Date of Last Activity: N/A

Date Major Delinquency First Reported: 12/2011 Months Reviewed: N/A

Creditor Classification: Financial Activity Designator: N/A Charge Off Amount: Deferred Payment Start Date: Balloon Payment Amount: Balloon Payment Date: Date Closed: Type of Loan: Factoring Company Account (debt buyer) Date of First Delinquency: 05/2005 Comments: Consumer disputes - reinvestigation in progress, Collection account

Again any feedback is appreciated.

[llecs]

I'd still send a DV. If they verify and you agree, then send a PFD.

[Toonie]

I opted out as suggested and I drafted the following DV letter. This is my first one so let me know if you think it's sufficient:

via CMRRR
CA Address

Re: Acct # 0000000

To whom it may concern:

I pulled my credit bureau reports and discovered that you claim I owe you the above-referenced debt.

Under the FDCPA, please provide to me written validation of this debt including the original creditors name, address and telephone number as well as an itemized statement of the debt owed and proof of your authorization to collect said debt.

Please be advised that the statute of limitations has expired on this debt.

No telephone contact please in regard to this request.

Sincerely xxxxxxxxx

Does this letter include all it should, to much, etc.....? Thanks!

[llecs]

I'd strike the SOL bit. It really doesn't mean anything. A CA can collect forever past SOL and CRTP. I'd also strike the Acct #. I don't like to make things easy for the CA.

I'd leave everything else.

BTW, I'm going to zap this thread to Rebuilding Your Credit. You'll have more knowledgable eyeballs on the topic of repair.

[Toonie]

Thank you llecs. I appreciated it.

[llecs]

BTW, for some reason I thought you were the OP in the thread. I'm doing some splicing here. Your post and the replies will stay here under the same name. Moving the other back to CCs now.

[Anonymous]

Congratulations on getting approved for the AMEX card!! I,m also looking to get approved for a card with them in the next few months. As far as the new listing on your credit report I,d contact the company to see why they,ve posted.