Round Two Recovery

Anonymous · ‎03-14-2013

So I thought I was done in the rebuilding section, but another collection just popped up on my report. The collection agency is Round Two Recovery and it states it is for US Bank overdraft, $779, date updated and due to be removed 5/2014. I did have a US Bank account back around 2006 or so but I thought this account had been in good standing when closed.
So my questions... Has anyone dealt with this company? How did I figure out SOL on checking accounts in Illinois? Since I was never notified on this collection just send them a DV to start?
Thanks My Fico friends

Shogun · ‎03-14-2013

Yes, if it just popped up, I'd send a DV.

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+
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Current scores after adding $81K in CLs and 2 new cars since July 2013
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RobertEG · ‎03-14-2013

Or request a PFD.

Sending a DV, if timely, will invoke a cease collection bar on them, but since they have already reported, the significance of that bar is not that great unless you clearly believe the debt is not owed and thus cannot truthfully be verified. Before sending a DV, you might call the bank and ask about the debt. Maybe it will convince you of the legitimacy.

Meanwhile, after sending a DVmyou will be in limbo until such time as they choose to provide verification, and the debt will remain unsatisfied.

If you forgo the DV, you can begin immediate negotiations with them.

I would at least call the bank before shooting out a DV.

Anonymous · ‎03-15-2013

Thank you both! The only positive is they waited until I closed on my home so at least that wasn't thrown out the window by a debt I am unsure is actually owed.