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Hi Everyone..
Some insight on this would be incredibly helpful..this is my last collection account I am trying to delete but not really sure where to start..
On my credit report I have a charge off from Verizon Wireless reporting...$527.36 balance due.
I got a letter last month from EOS CCA with a settlement offer of $210.94, that I haven't responded to.
Today, I called the number on my CR, it was VW debt recovery center, which then reffered me to this CA, because they now have my debt.
If I work with EOS CCA, and offer a PFD, will the orginal VW charge off on my CR be deleted? Or do I need to go directed to VW to make that happen?
Thoughts?
Thankss!!
The CA has nothing to do with your VW entry on your reports. If VW is not willing to take ownership back, you have no choice but to deal with EOS. I would see if the CA is willing to do a pay for delete.
Will the VW charge off then be removed if I get a PFD through the Collection Agency?
No.
A charge-off is the reporting that the owner of the debt has taken an internal accounting measure of moving the delinquent debt from an accounts receivable asset to a bad debt that is not expected to be paid.
The taking of a charge-off does not relieve the consumer from continued obligation for the entire debt and is unrelated to any subsequent reporting by a debt collector.
The debt collector can only agree to deletion of their own reporting, and not the reporting made by the OC.
You would have to contact the OC and request their GW deletion of any reported derogs, such as a charge-off.
A factor that may be comsindered by the OC is whether any subsequent payment of the debt came to them.
If they have sold the debt to the debt collector, they would thereafter not receive anything paid by the consumer.
They might, however, be more receptive to GW if they still owned the debt when paid, and thus recouped some or all of the loss.
This is what the account says.....
Account Details
Last Reported Oct 31, 2014
Creditor Name VERIZON
Account Type Telecommunications / Cellular
Account Status Closed - Derogatory
Opened Date Jul 10, 2008
Closed Date Mar 31, 2013
Limit --
Term --
Monthly Payment $0
Responsibility Individual
Balance $527
Highest Balance $527
Payment Status Collection/Chargeoff
Worst Payment Status Unknown
Date of Last Payment --
Amount Past Due $527
Times 30/60/90 Days Late 0/0/0
Remarks Collection Account
Placed for collection
I just got off the phone with VW and they stated that they had sold the debt and I need to work with EOS...but this debt is still reporting at a balance of $527..do I need to dispute this, and then offer a PFD to EOS? Or should I GW Verizon to have this removed instead of disputing? EOS has not reported on any of my CR, and I want to pay it so they do not..
Thanks
If a creditor sells their debt, they are required under FCRA 623(a)(2) to promplty update their reporting to show a $0 balance.
You can dispute the lack of update, but since you may be pursuing a GW request to them in the future, it may be best to first contact them informally and remind them of their obligation to have updated the balance.
If the debt collector has not yet reported, the procedure is to send them a modified form of a standard PFD.
You offer to pay in exchange for their agreement NOT to report.
Thanks for your help!
I called VW again, and spoke with someone else is debt recovery.
She stated that VW still owned the debt, and I owed $622.28 instead of $527.
She said that I could make a payment to them and they would updated my CR's as paid, but wouldn't honor a pay in full for deletion request.
I got an address from her and I am going to try my luck at mailing a PFD letter...
Hope it works! This charge-off is probably really hurting my score
if "she" has told you they dont do PFD's and the adress you received was from her, then I would try to obtain the name/adress of a management official to send your PFD offer rather than having it go through her.
Upper management has the authroity to grant exceptions to any normal no-deletion policy. She most likely does not.