Unique check situation

[Anonymous]

When I was 19 my ex convinced me to write a bunch of bad checks on my bank account (70 total.) Now those 70 checks are sitting on my credit - totaling almost $5k. I assume these will fall off after 7 years? If so they will begin falling off the end of 2014, but I would like to try and clean up what I can before that. Can I do a DV or PTD? I guess I'm not really sure where to start at all. I've done some research but all I see is credit card debt - not extreme bad check debt. ANY help would be greatly appreciated! This took place in Iowa, however I have lived out of state for 2 years now.

[RobertEG]

FCRA 605(a) applies to any and all adverse item of information other than criminal convictions that are reported to your credit file.  Various subsections list specfic items that have their own peculiar definition of when credit report exclusion must occur.  I am not sure exaclty how the bad checks were reported, but apparently not as one of the items specifically listed under subsections of section 605(a), suc as a collection?

If an adverse item is not listed under one of those subsections, then the catch-all subsection 605(a)(5) kicks in, which states:

'Any other adverse item of information, other than records of convictions of crimes, which antedate the report by more than 7 years."

DVs only apply to debt collectors.  Was the bad debt referred to and being reported by a debt collector?

[Anonymous]

Yes there are several different debt collectors on there. Payliance, trac-a-check, global payments check, LVNV funding, midland funding, etc. some of them are reporting 10+ checks.

[RobertEG]

If a debt collector is reporting, you can always request debt verification.

However, a DV is no magic bullet.

What a DV does is impose a cease collection bar on the debt collector, providiing it is timely, meaning it was sent without prior dunning notice from the debt collector, or within 30 days after receipt of dunning notice.  If untimely, it invokes no cease collection bar, and they are free to go on about their business.

Even if timely, it imposes no requirement to provide verfication, provided they cease collection activity until such time as they choose to send verification.

So you may wait for an anticipated response.  Send one if you dispute the amount or legitimacy of the debt, but it may do nothing if untimely.

If CR exclusion prior to its normal exclusion date is the main goal, then give a pay for delete offer a try.

If they balk, you can choose to pay, thus satisfying the unpaid debt, and then ask for a good-will deletion.

If you simply rely on credit report exclusion and decide not to pay, you will continue to have unpaid, delinquent debt in your credit history, and run the risk of it popping up by some means other than a pull of your credit report.