Taking the first step at rebuilding our credit...

[Anonymous]

Ok, I'll start there then.  And since I'm a texas resident would the Notice of Inaccuracy accompany a DV to utilize the 30 day policy?

[Anonymous]

Also, the first item I listed from Chase Bank... this will also be removed soon?  It only has dates paid & date closed (2006) but did not list an estimated month/year that it would be removed.  Just want to make sure...

[Shogun]

You had to play the Texas card huh?  Lol.   Actually since you are a resident of Texas, you will want to use their DV process.  It packs much more punch than the standard DV and there is no time limit on it.

I would send the DV but make sure it has the Texas statute on it.  I'll post the whole thing below for you to look at.

Sec. 392.202.  CORRECTION OF THIRD-PARTY DEBT COLLECTOR'S OR CREDIT BUREAU'S FILES.  (a)  An individual who disputes the accuracy of an item that is in a third-party debt collector's or credit bureau's file on the individual and that relates to a debt being collected by the third-party debt collector may notify in writing the third-party debt collector of the inaccuracy. The third-party debt collector shall make a written record of the dispute. If the third-party debt collector does not report information related to the dispute to a credit bureau, the third-party debt collector shall cease collection efforts until an investigation of the dispute described by Subsections (b)-(e) determines the accurate amount of the debt, if any. If the third-party debt collector reports information related to the dispute to a credit bureau, the reporting third-party debt collector shall initiate an investigation of the dispute described by Subsections (b)-(e) and shall cease collection efforts until the investigation determines the accurate amount of the debt, if any. This section does not affect the application of Chapter 20, Business & Commerce Code, to a third-party debt collector subject to that chapter.

(b)  Not later than the 30th day after the date a notice of inaccuracy is received, a third-party debt collector who initiates an investigation shall send a written statement to the individual:

(1)  denying the inaccuracy;

(2)  admitting the inaccuracy; or

(3)  stating that the third-party debt collector has not had sufficient time to complete an investigation of the inaccuracy.

(c)  If the third-party debt collector admits that the item is inaccurate under Subsection (b), the third-party debt collector shall:

(1)  not later than the fifth business day after the date of the admission, correct the item in the relevant file; and

(2)  immediately cease collection efforts related to the portion of the debt that was found to be inaccurate and on correction of the item send, to each person who has previously received a report from the third-party debt collector containing the inaccurate information, notice of the inaccuracy and a copy of an accurate report.

(d)  If the third-party debt collector states that there has not been sufficient time to complete an investigation, the third-party debt collector shall immediately:

(1)  change the item in the relevant file as requested by the individual;

(2)  send to each person who previously received the report containing the information a notice that is equivalent to a notice under Subsection (c) and a copy of the changed report; and

(3)  cease collection efforts.

(e)  On completion by the third-party debt collector of the investigation, the third-party debt collector shall inform the individual of the determination of whether the item is accurate or inaccurate. If the third-party debt collector determines that the information was accurate, the third-party debt collector may again report that information and resume collection efforts.

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 851, Sec. 1, eff. Sept. 1, 2003.

[Anonymous]

I also read in one of the forums that a first step would be to call the OC to determine if they still own the account.  & if they do, to ask if they could pull the account back & allow me to PIF.  Seems I'm skipping that step by sending the DV as a first step.  Would calling the OC first be worth the time & effort?

[Anonymous]

haha!  Of course I had to play the Texas card!!  I need to play all the cards I can... I let myself get into a heap of trouble with this mess!

[Shogun]

---

@Anonymous wrote:

Also, the first item I listed from Chase Bank... this will also be removed soon?  It only has dates paid & date closed (2006) but did not list an estimated month/year that it would be removed.  Just want to make sure...

---

That's because this was not a CO.  It just had lates, those lates will fall off 7 years from when the occurred and judging by the age of the account, that's real soon.  This account will go to positive status and help with your AAoA.  Leave it be!

[Anonymous]

This is the DV example letter I have found on this site.  Is anything different with using the Texas code?  Not exactly sure when I should put in the Texas part... and do I need to list everything you posted??  Just the part about 30 days or would simply mentioning it be sufficient?

[Anonymous]

Debt Collection Company Name
Their address
Town, State ZipCode

Date:  1/8/13

Re: Debt Collection Company Name; Acct # Debt Collection Company #; Original Creditor Name; OC Acct #

To Whom It May Concern:

This letter is being sent to you in response to a notice sent to me on DATE. Be advised that this is a notice sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (b) that your claim is disputed and validation is requested.
This is NOT a request for “verification” or proof of my mailing address, but a request for FULL MEDIA VALIDATION made pursuant to the above named Title and Section. I respectfully request that your offices provide me with competent evidence that (a) the account is valid, (b) the amount allegedly owed is accurate, and (c) I have a contractual obligation to pay Debt Collection Company Name for this alleged debt.
All of the following MUST be provided to adequately validate the authenticity of the alleged debt AND provide proof of my contractual obligation to Debt Collection Company Name for this alleged debt:
• Signed credit application between myself and the original creditor
• Copies of all signed vouchers from the date account was opened until default
• Copies of all statements from the date account opened until default
• Proof of the statute of limitations
• Proof of agreement that you were hired by the Original creditor (creditor as defined by the FDCPA) or
• A copy of the contract Debt Collection Company Name purchased the alleged debt.
• If the alleged debt was purchased, provide a copy of an agreement between Debt Collection Company Name and myself, signed by me, stating that I have a contractual responsibility to Debt Collection Company Name for the alleged debt
• Provide proof that Debt Collection Company Name is bonded/Licensed for debt collecting in the State of Your State
Be advised that failing to provide ALL of the media requested to validate the alleged debt will invalidate any and all claims Debt Collection Company Name is asserting regarding this alleged debt. If Debt Collection Company Name can NOT provide all of the validation media requested above, ALL collection efforts MUST be stopped and the account MUST be DELETED from the Debt Collection Company Name. If you can NOT validate your claim, you can NOT, by law, collect on it, or SELL it to another collection agency. Also, reporting a debt to the credit reporting agencies that can not be validated is a violation of the FCRA (Fair Credit Reporting Act), and carries a $2500 fine to be paid to me. I have two years to decide if I want to pursue this matter. PLEASE GIVE THIS MATTER THE ATTENTION IT DESERVES.
If your offices are able to provide all of the validating media as requested, I will require at least 30 days to investigate this information, and during such time, all collection activity must cease and desist.
I am also stating, in writing, that no telephone contact be made by your offices. If your offices attempt telephone communication with me, including but not limited to computer generated calls and calls or correspondence sent to or with any third parties, it will be considered harassment, and I will have no choice but to file suit. All future communications with me MUST be done in writing and sent to the address noted in this letter by United States Postal Service.

Best Regards,

Your Name TYPED (Do Not Sign)

[Shogun]

That DV is totally worthless.  All they would have to send back is the OC name and the amount.  The other stuff people throw in there i a bunch of bull.   Just send the DV with the Texas statute number on it and call it good.

[Anonymous]

Oh wow... ok.  Well I'm new at this so any pointers then on the letter?  And I would just mention the Texas Finance Code - Sec. 392.202 ??

I appreciate your patience with me on this stuff!