Texas DV worked again!!: UPDATE!!

[Anonymous]

Okay so I had a collection agency send me a bill and immediately sent them a debt validation.  We live in Texas so I added all the required information.  It had not yet hit my credit report.  So after them attempting to collect during the debt validation process and then not properly validating it they put it on my husband's credit report.  I immediately sent them the second debt validaitons citing the violations they had used.  After that, an email, and a BBB complaint along with a CFPB they have removed from his credit reports this week.  Got the email they did it on e-oscar on the 21st and when I looked at his Equifax it was already off.  We have fico scorewatch so we haven't see if his scores are going to rebound once its gone.  They took a pretty big hit when they did.  Any ideas if they will go back up?

[dursty87]

When a collection is removed it doesn't trigger an alert for a score change.  Next change in balance or say an inquiry would trigger a score change alert and you should see the points then.  Congrats on the removal.

[Anonymous]

Ok.  I have some cards that I have paid down the utilization that should be updating in the next week.  We have to have our scores pulled again for our mortgage in two weeks so I'm waiting until it updates across the board.

[gdale6]

Grats in getting it taken care of

[Anonymous]

Update:

A credit card updated this morning with a utilization decrease and his scores went up!!  Scores are below.  Have two credit cards that I paid down this month also that should be updating in the next couple of days.  Hoping to see some bumps on them. 

EQuifax Increaed 29 points to 667

Transunion Increased 61 points to 701

Experian Increased 30 points to 681

[Anonymous]

Can you tell me what the required info for Texas would be please? 

[Anonymous]

This is a copy of the letter that I have used in the past.

I request validation of this debt per Texas Finance Code Section 392.202 which requires a debt collection agency or credit bureau to provide the alleged debtor with specific information concerning their debt including but not limited to:

For the purpose of validation provide me with:

• The name and address of the original creditor
• The original date of default or non-payment of the debt with original creditor
• The date the debt was transferred from the original creditor to the third party debt collector
• The original balance
• The current balance
• Any fees added by your agency. Sec. 392.303 (a)(2)
• Texas Surety bond information as required by Sec. 392.101

Please note Transunion, Experian, and Equifax are bonded in the state of Texas and are required to comply with Texas Finance Code. If a debt collector has failed to respond to your debt validation request, then they have essentially admitted, per Texas Finance Code 392.202(b)(2), that the debt in question is inaccurate.

Per this requirement you must delete this trade line if you do not have sufficient time to complete an investigation to validate this debt in 30 days according to Sec. 392.202 (d)(1)

Also per Texas Finance Code 392.202 Correction of third -party debt collector’s or credit bureau’s files.  I request immediate notification by mail if this alleged debt is sold or transferred per Sec. 392.301 (a)(4).

Please reply with your response via US MAIL.

Please note I am fully prepared to pursue my rights for the harm this inaccuracy has done to me. Sec. 392.403. CIVIL REMEDIES. (a)

A person may sue for:

(1) injunctive relief to prevent or restrain a violation of this chapter; and

(2) actual damages sustained as a result of a violation of this chapter.

During this debt validation I request that all collections cease and desist at this time until this debt has been fully validated under the Texas Finance Code 392.  All correspondence should be completed by mail.

[Anonymous]

How much information do you include in the DV for Texas.  I know we don't want to tell them much of anything, however how are they going to know what account to verify at all?

Do you include any of the ACCT # from credit report? Is it just name and address of the person sending it to the CA?

Thanks

[Anonymous]

How long did it take for CFPB and BBB to take action and get this removed? I contacted the CFPB on 6/05 it is now 06/22 and the company is now saying they are NOT a collection company to try and get out of the Texas state law. I have also complained to the ACA and showed the CFPB that yes they are a collection company. Any advice?