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In late 2008 my business took a hit and I defaulted on a bill for ebay fees. By mid 2009 business was back up and I paid ALL my debt occurring 2008. (I am an immigrantand I tried to keep my credit squeeky clean in lieu of long term history). . Anyway, I thought we paid it all. Invoices from later 2009 show a zero balance so I did not pursue it any further. I found out that those invoices wre alledged monthly statements on an account that is locked but that is another story. Since I always pay old debt with money orders I am not sure I still have my receipt - especially after seeing the $0 invoices - stupid, I know!
When the bill collector called me I explained the situation I did not hear back from them - until they slammed a collection notice into my CR and my Fico dropped by about 65 points.
I sent them a PFD letter with the clear understanding that I would pay but do not acknowledge the debt. It is under $300 and it is cheaper for me to pay the full amount then fighting it. They received it on 10.18 and I have not heard back yet. However, on 10.20 they reported the amount as still unpaid again - something that seems to have affected my Fako score (IDguard) but not my Fico. Is that actually legal? Can they slowly widdle down my credit by reporting over and over again?
Additionally, it appears as a new debt in my CR - not a debt that occurred in early 2009. Early 2009 is a lot easier to explain then late 2011.
Would it be wise to call and talk to one of their collectors (ER solutions)? Should I send a DV letter to the CRs? Just pay it and loose all leverage and send a GW letter?
I am lost at this point and time. Seeing my credit plumeting is frustrating, Any help or advice would be greatly appreciated.
Thanks,
Ax
Start from square one...send a DV letter if you didn't send one yet. If they verify and you agree, then send a PFD. Most of the PFDs you'll ever send won't result in a response, and it isn't uncommon to have your CR updated in the interim.
Date opened 2011, is the date the CA received this debt, not when the debt occurred.
DoFD (Date of First Default) is the date the debt occurred, sometime in 2009.
Do they have to show the DoFD in the CR?
I have decided to give them 2 more weeks to answer before going to send a DV. Guess I have to learn some patience. Good news is that I have about 12 month before I start looking for a mortgage and I have no intention to apply for any other credit in the meantime.
Interestingly enough, the phone calls that started after they reported have stopped completely.
Thank you llecs and LIGHTNIN for your replies!
@axman wrote:Do they have to show the DoFD in the CR?
No...AFAIK it is only on EQ. Always pull your 3 reports directly from the CRAs to start (or annualcreditreport).