Rebuilding Your Credit

[Williamsjk2]

So I looked on my USAA Credit Check monitoring today and found that my Experian FAKO had jumped 57 points.  I take a closer look and found that the LVNV account I had sent a validation letter to them for is now reporting as "Account in dispute-reported by subscriber".   I haven't done anything in regards to disputing with ANY CRA.

I'm slightly worried about this...anyone have any ideas?

Just as an FYI, the account is past SOL and is approximately 2 years away from falling off my CR.  I sent them a DV letter CMRRR (which they signed for on 2/6/12) but haven't heard anything back yet.

[Lois5669]

I'm curious to see if this is a "normal" occurance when sending a DV. I sent one to them via a PO box, email, and fax. I also heard that they don't reply to DVs usually.

William, if you DV'd to an address other than a PO box, will you send that to me in a PM, please?

Thanks

[Williamsjk2]

Unfortunately I just sent it to the address listed on my credit reports.

[llecs]

Most of my DV letters to reporting CAs resulted in that comment. It doesn't do anything per the score.

[Lois5669]

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llecs wrote:

Most of my DV letters to reporting CAs resulted in that comment. It doesn't do anything per the score.

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Good to know it doesn't affect the score (well in a bad way )

[Williamsjk2]

I thought when an item is in dispute that it is temporarily excluded from being calculated in your credit score. None of my other scores changed and its not showing as being in dispute on them...

[llecs]

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Williamsjk2 wrote:
I thought when an item is in dispute that it is temporarily excluded from being calculated in your credit score. None of my other scores changed and its not showing as being in dispute on them...

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FICO continues to score all CAs and PRs during a dispute, so your FICO wouldn't change. FAKOs on the otherhand....

[RobertEG]

I have seen numerous posts in the last six months or so relating to this practice.

Either the debt collectors are getting a lot dumber or a lot more sinister.

Treating a DV request as a direct dispute, as clever as they might think it is, is a violation of the statute that does harm to consumers.

In addtion to having to deal with a dispute flag on their credit report, the debt collector has disavowed being under the automatic cease collection bar that is invoked by a DV.

Even if they "mistakenly" considered the DV as a direct dispute, there are very specific procedures to follow once having received a direct dispute, and they are not even following those requirements.  They  either provide the results of investigation within 30-days or dismiss the "dispute" as frivolous or irrelevant due to lack of supporting statement of inaccuracy or supporting documentation.  They simply ignore those requirements, and blow the consumer off on both items.

I would guess that these tactics are more than just coincidental "mistakes" on their part.

[Lois5669]

Well, just to prove the point that they are doing it, I had a reply to a DV for another CA today. They did validate. But then after reading the mail, I checked my inbox and score watch showed a change on my EQ..it was just this very thing. "Consumer disputes..." added to the collection TL. My score, as predicted, didn't change though

[Williamsjk2]

Robert- is this something that I can call their shenanigans on? If I got a letter back about a direct dispute...could I not write to the CRA's about this?