cancel
Showing results for 
Search instead for 
Did you mean: 

What to do about collection

tag
Peter1142
Established Contributor

What to do about collection

I have an open collection for under $1000, for I.C. Systems, a utility bill. I am considering applying for a mortgage in about 6 months, and I am tired of seeing it on there. It is actually a few years old but I disputed with the CRA and they upheld and updated the date Smiley Sad. I do not believe that I owe them as much as they say, but good luck winning the fight with a utility company. I am also not sure they ever sent me a collection notice, but as it is several years old, I can't be sure.

 

So, what would be the recommended course of action? DV (request validation)? PFD?

 

I am a little concerned because I managed to get it off my other two reports via dispute with the CRA, and managed to get another collection I didn't recognize removed as well that is with the same outfit also via dispute with the CRA, and am afraid of having new stuff pop up as a result of doing this. Right now it is only 1 collection on 1 CRA, and it is aged past 1 year also at this point even with the updated date, so I am also considering just leaving it alone unless the underwriters tell me to pay it.

 

Thanks much.

Message 1 of 10
9 REPLIES 9
llecs
Moderator Emeritus

Re: What to do about collection

You have to assume that your lender-to-be would require you to pay it. IMO, it's better to pursue it now vs. waiting and having to do it without a PFD due to timed contraints. 

 

If I had that, I would DV now. If they don't respond then I would start PFDing a month out from now. 

Message 2 of 10
Peter1142
Established Contributor

Re: What to do about collection

What's the benefit of DV'ing, they would decide they can't validate and delete? What's the actual chances of this happening?

Message 3 of 10
Shogun
Moderator Emeritus

Re: What to do about collection

A DV is a powerful tool if used correctly.  It would assure that they still own the debt.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 4 of 10
Peter1142
Established Contributor

Re: What to do about collection

It should also be noted that I disputed with the CRA and it was upheld. I don't remember what I did, I think it was paid. The original utility co is charging me for something I do not owe, but I cannot prove it. Would this affect a DV?

Message 5 of 10
Shogun
Moderator Emeritus

Re: What to do about collection

You state that you think it was paid, a DV would verify if it was paid or not.  If not paid, try for a PFD, if paid, then GW.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 6 of 10
Peter1142
Established Contributor

Re: What to do about collection

No I mean, I think I disputed it as paid, IIRC the list they gave me of dispute options with the CRA was lacking.

 

 

Message 7 of 10
RobertEG
Legendary Contributor

Re: What to do about collection

When you either file a dispute or send a timely DV, the party is not required to prove the accuracy of the reporting or legitimacy of the debt as part of their verification.

 

They ae required to conduct a reasonable investigation, and make a reasonable determination based on the results of their investigation.

Neither process has a mechanism for handling evidence or resolving the inevitable differences of opinion over what it does or does not "prove."

 

A DV would, at this point, be untimely, and thus impose no cease collection bar on the debt collector.

They could choose to ignore it.

Even if they choose to respond, they will most likely verify, as they have already adddressed the issue of having conducted an investigation and conveying their determination to the consumer as part of the prior dispute process.

 

You can always send a DV, timely or not, but I doubt that it will resolve anything beyond the current status of their having investigated and found the debt to be legitimate.

 

 

 

Message 8 of 10
Peter1142
Established Contributor

Re: What to do about collection

Ya I do not think I want to DV, it is just going to open up a possible can of worms.

 

Has anyone had any success doing PFD with IC Systems? Honestly I can live with it staying on my report at this point, I just don't want it popping up on other reports, and aging as paid. If I can get it off though, of course that would be better. If I could settle for less, and get it marked as PIF, on the one CRA, I would be happy. It's a lot of money to throw at a BS charge.

Message 9 of 10
llecs
Moderator Emeritus

Re: What to do about collection


@Peter1142 wrote:

Ya I do not think I want to DV, it is just going to open up a possible can of worms.

 


How so?

Message 10 of 10
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.