Re: Need Advice[ Edited ]
10-09-2012 09:01 PM - edited 10-09-2012 09:32 PM
OK. I've read up on DV's. I'm unclear on something. Do validation letters have to be sent out in the first 30 days? I don't know when they were added to my credit report, so hope that's not true.
I received a settlement letter from a CA that purchased a collection from a credit card company (HSBC). The HSBC account on my credit report shows a balance of $0, saying account sold. The collection agency has not reported it to my credit report yet and I'd like to avoid it being added. The settlement offer is for $252... balance being $722.
Should I ask them to validate the debt first? or Pay the settlement? or see if I can PFD? Is there anyway to get the negative HSBC account removed since they sold it? It says I have til November 2nd, 2012 to respond... assuming they will report this on my credit if I don't. How should I squash this?
I just noticed on the settlement letter, they are refering to LVNV Funding LLC as the creditor and HSBC as the "Original Creditor." Maybe LVNV Funding purchased it from HSBC, then Convergent Outsourcing (current CA who the letter is from) is working the collection for LVNV Funding. They refer to them as the client. Either way... neither company have reported anything to the credit bureas yet. Appreciate any advice here.
Starting Score: EX 536 EQ 540 TU 536
Current Score: Aug 2013 EX ? EQ 666 TU 683
Goal Score: 700
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