Settlement Offer

[Anonymous]

I recently recently a letter from AFI CA, the original balance is $847.73 from a Verizon phone bill, the letter states $423.87 once paid our records will reflect the status of your account with Afni as settled in full.  Is this OK to do.

Thanks

[Anonymous]

What is the DOFD?

What is your SOL?

Have you DV'd?

Settling it will not help your score, only having it removed will.

If you can answer the above, then we can offer advice on the best way to go.

[Anonymous]

its a verizon phone bill from 2002 i had moved to a part of the city thay change my number along with the long distance carrier, and they somehow was charging me $5 a minute for long distance service. and I didnt find out until i went to verizon one day to pay the bill soon after that the phone off course was turned off.

 The date open on my CR is 09-01-06

SOL is 4 years

i have not DV i know its mine 

The reason i didnt pay it back  them i didnt feel they should just pick a long distance carrier for me and then charge me $5 a min. I rather pay half is what i think is fair,

[Anonymous]

If this went delinquent in 2002, then it should be falling off this year. Negative accounts can remain only for 7 -  7 1/2 years from DOFD.

Date open, from a CA, is just the date they got the account in their office. It means nothing in regards to credit reporting time.

If you have your reports directly from the CRA, look for DOFD on your EQ report or a removal date on your TU and EX reports.

Considering it is beyond SOL and paid or unpaid will be removed this year, combined with the situation,  I think 50% is too much

As for DV'ing and knowing it is yours....requesting validation is more than just proving the account is yours. It is about proving that the CA has the right to collect on the account and have the paperwork to prove the debt and the amount.

Message Edited by sidewinder on 03-04-2009 10:08 PM

[Anonymous]

ok afni is the listed then it shows Verizon as OC the Date the file open is 9-23-06 so is it 7 years from that date since its at 2 years, iam sorry but i dont understandt.  doi call CA and have them validate and prove the debt is mine how can i get it off my CR its shows twice

[RobertEG]

No, showme, the 2006 date is only the date that the CA opened their reproting with the CRA.

If you have your phone records, just to back to date you first went delinquent on your phone account. 
Add 7 1/2 years from that date, and that is when it must drop from your credit report.  Period.

Neither the SOL (thre years for phone bills) or the date the CA began any reportring, has anything to do with its dropping from your credit report.

It appears that, in your case, the OC (Verizon) never reported the account delinquency to the CRAs, so they never posted a DOFD to your credit report.  Was it first reported by the CA?

To cover this situation, and thus give the CRA the abililty to drop their reporting at the 7 1/2 year date from the DOFD,  FCRA 623(a)(5)(A) requires that a CA must report the DOFD on the OC account upon which they are their collection with 90 days of posting of their CA to your CR.  The CRA will then have the ability to comply with the FCRA drop off date of 7 1/2 years from the OC DOFD.

Message Edited by RobertEG on 03-04-2009 09:59 PM

[Anonymous]

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Showme314 wrote:
ok afni is the listed then it shows Verizon as OC the Date the file open is 9-23-06 so is it 7 years from that date since its at 2 years, iam sorry but i dont understandt.  doi call CA and have them validate and prove the debt is mine how can i get it off my CR its shows twice

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You need a copy of your report directly from EQ, TU, or EX.

Have you pulled your free annual reports? If not, I would pull those. EQ will show a DOFD. EX and TU will show a removal date.