Recent Collection Letter

[janels]

Hi.  I just received a settlement letter from First National Collection Bureau for an account that is listed under Applied Bank with a balance of $3191.  The original creditor was Cross Country Bank.  I don't have/see the DOFD.  The Date of Status on my Experian report is 09/03. With an anticipated drop-off date of 01/10. 

If I don't settle or make arrangements to pay, then is it possible that this will appear as a new collection report under First National? 

Thanks,

janels

[Anonymous]

If drop off date is 01/2010, then DOFD is about 7 - 7 1/2 years before that.

Is this beyond SOL?

Even if you settle or make arrangements, they can report, unless you negotiate something in writing.  

[RobertEG]

As to whether or not the CA chooses to post to your CR, that is entirely up to them.  They have no obligation to do so, but usually do as a means to put pressure on the consumer.

Some CAs dont post to your CR simply to avoid the verfication procedures of the FCRA.  It is their business decision.

[George888]

Robert,

I am responding to a post you made more than 3 years ago (above), and hoping that you will respond.

In your post above you said, "Some CAs dont post to your CR simply to avoid the verfication procedures of the FCRA."  Can you please tell me what This means?  Does it mean that if a CA posts to my CR (this means credit report right?) I can request some kind of verification from them?  Why would the CA want to avoid this verifcation procedure?  

Thank you sir.

George