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Regional Adjustment Bureau and PFD

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Anonymous
Not applicable

Regional Adjustment Bureau and PFD

Hi everyone,

 

New here, so hope I'm complying with forum guidelines. I read the linked threads on the topic of PFD vs. DV. I'm still unsure of which way to go on a particular account and would appreciate any advice.

 

The original account is a Suntrust credit card, opened in 2006. The account was officially closed in 2010, and I had been paying down the remaining balance until January 2014. Some tough financial times happened (job loss, etc) and I stopped paying.

 

In early October I received a notice from a collections agency (Regional Adjustment Bureau) and promptly freaked out. I made a payment right away for 1/3 of the owed amount. This was perhaps not the best idea, but I paniced.

 

Since then, I've done some reading. I can pay the remaining balance in full, but I'd like to do something about the negative information. However, I've got a couple of questions:

 

1. Does my initial payment to RAB serve as acknowledgment of the debt such that a debt validation is now out of the question?

 

2. My credit report shows only Suntrust, the original creditor, reporting a balance, and not RAB. The account is listed as charged off. But does this mean it hasn't been sold?

 

3. Who would I send a PFD letter to? Suntrust? RAB? I'm confused.

 

Any help or guidance would be appreciated!

Message 1 of 9
8 REPLIES 8
Lemmus
Established Contributor

Re: Regional Adjustment Bureau and PFD

1) yes 

2) the reports may not have caught up yet or RAB may be a contracted collection agent for SunTrust

3) RAB

...did you sign any paperwork with RAB re payments? ...if so, you're pretty much stuck paying as agreed ...if not, you can send a PFD request but I'd not hold my breath ...the debt is recent and they could take you to court. ...if the PFD does not work, you're left with PIF and then a GW campaign with SunTrust if they still hold the debt.


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Message 2 of 9
Anonymous
Not applicable

Re: Regional Adjustment Bureau and PFD

No I never signed anything - just registered for an account on their website and made payment. So, I didn't enter into a payment plan or anything like that. The amount I paid was completely arbitrary.

 

If RAB is a contracted collection agency, do any PFD letters still go to them and not Suntrust?

Message 3 of 9
Lemmus
Established Contributor

Re: Regional Adjustment Bureau and PFD

...I'd call SunTrust and see if they will accept payment ...if they will, the PFD goes to them, else RAB ...good luck


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Message 4 of 9
Anonymous
Not applicable

Re: Regional Adjustment Bureau and PFD

I just remembered that I have the original letter I got from RAB at home. If they bought the debt, the letter should say so, right?

Message 5 of 9
Lemmus
Established Contributor

Re: Regional Adjustment Bureau and PFD

...it may but I don't know if your state laws require that.


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Message 6 of 9
RobertEG
Legendary Contributor

Re: Regional Adjustment Bureau and PFD

A DV can be sent if you contest the debt in whole or in part OR request the name of the OC.

Yes, you can still send a DV if you have made an initial payment if you contest the amount of the asserted debt or want the name of the OC.

However, it is stated that they contacted you in early October, which I presume was a dunning notice.  If more than 30 days has passed since dunning notice, any DV would no longer be timely, and thus would not invoke a cease collection bar.  They could ignore it.

 

Regardless of timeliness of a DV, since you apparently do acknowledge the debt, it might be better to simply proceed to a PFD or pay for not reporting than to attempt to invoke a cease collection bar.

 

When you state that only the OC is reporting a balance, does that imply that the debt collector has not yet reported at all, or that they failed to include reporting of a balance under their collextion?  If the debt collector is not reporting, then an option would be to send them an offer to pay in exchange for NOT reporting, as opposed to a PFD.

 

You could choose to send a PFD to the OC, which would relate only to an offer to pay in exchange for their deletion of their own reporting of the CO.

The OC cannot agree to no reporting by the debt collector or deletion of any reporting made by the debt collector.

 

 

 

Message 7 of 9
Anonymous
Not applicable

Re: Regional Adjustment Bureau and PFD

Ah, yes, I should have been more clear about that. There is nothing in my credit report related to RAB for the account. Any reports are from the OC, and still list a balance. The balance reflects the payment I made in October. This makes me think that SunTrust still owns the account and RAB is just a contracted collection agency?

Message 8 of 9
Anonymous
Not applicable

Re: Regional Adjustment Bureau and PFD


@Anonymous wrote:

Ah, yes, I should have been more clear about that. There is nothing in my credit report related to RAB for the account. Any reports are from the OC, and still list a balance. The balance reflects the payment I made in October. This makes me think that SunTrust still owns the account and RAB is just a contracted collection agency?


Yes, that would be the correct assumption. If Suntrust sold the account, then they would be required to report a zero balance.

Message 9 of 9
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