What to do if CA validates

CreditGuy03 · ‎07-06-2015

I applied for a mortgage in March of this year. The roaches came out of hiding. I received a collection notice on a 4 year old utility bill in another state. I now live in Texas.

The CA is Penn Credit. I sent the DV letter to them and they sent back copies of the original utility bills with my name and old address which are correct. What are my options at this point?

It is not on my credit reports as of yet

Equifax - 628, Experian -627, Transunion- 654 In the garden until 01/01/2019

Anonymous · ‎07-06-2015

Pay it quickly if you want to keep it off your reports. Make sure they agree to not report it.

CreditGuy03 · ‎07-07-2015

So what exactly do I say in writing to get them to agree to not report? If I send them a letter to pay isn't that me admitting the debt is mine? They can easily say we have to report and since you sent us a letter admitting this is you then we hold the power now

Equifax - 628, Experian -627, Transunion- 654 In the garden until 01/01/2019

Anonymous · ‎07-07-2015

@CreditGuy03 wrote:
So what exactly do I say in writing to get them to agree to not report? If I send them a letter to pay isn't that me admitting the debt is mine? They can easily say we have to report and since you sent us a letter admitting this is you then we hold the power now

Is the debt not yours? The've already validated it. Admitting the debt has nothing to do with whether they report or not. They just want their money. If they get it before their reports go out (most CA's will give you a "free" month before they report), so much better because it costs them money to report an item to the CRAs. Call and tell them you want to pay BEFORE it gets reported in order to keep it OFF your reports. Record the call for your protection if they renege on a deal.