topic Re: Should you say this in a DV letter? in General Credit Topics

Should you say this in a DV letter?

Anonymous — Sun, 27 Jan 2008 18:37:05 GMT

"It is your obligation to be aware of the statute of limitations on this debt and consider the age of the debt. It is also your obligation to remove any reporting to the credit bureau agencies (Trans Union, Equifax and Experian) immediately."

Re: Should you say this in a DV letter?

Anonymous — Sun, 27 Jan 2008 18:42:57 GMT

NO, no, no!

Lady_Scarlet advised you correctly. They can't be forced to delete just because the sol is up. It can stay on your reports for 7 to 7.5 yrs.

Re: Should you say this in a DV letter?

Anonymous — Sun, 27 Jan 2008 18:44:57 GMT

Thank you!

Re: Should you say this in a DV letter?

Anonymous — Sun, 27 Jan 2008 21:07:39 GMT

To be clear

SOL - the time in which they can sue you (and win)

CRTP that 7-7.5 years that it can appear on yoour report (actually it is 7 from the DOLA/DOFD the .5 comes in by when the OC declares it deliquent.

What you are trying to accomplish with DV is

(1) Assert a LEGAL RIGHT you have

(2) Make the CA prove that there really is a debt & that they have the legal right to collect on it (either bought or assigned)

(3) ETC

If a CA can't validate then they can't collect (and reporting to CRAs is considered collecting.) Now you may have a heck of time getting them to remove it but usually an ITS (and they KNOW they aren't within regulations) will usually remove it.

Thing is most Americans don't check their credit. Of the percentage that do - most of those don't know their rights and what the CAs must do - they panic and pay them. So only a very small % will ever 'challenge' them to keep them within regs.

My personal opinion is that even if the debt is yours/legit - they still need to play by the rules. If they don't then get it off my report! There is nothing in the FCRA/FDCPA that says that you lose the right to have the debt validated if you know you made it. You are required to provide no information to them - they must do the work.

Message Edited by Lady_Scarlet on 01-27-2008 04:07 PM

Re: Should you say this in a DV letter?

Anonymous — Mon, 28 Jan 2008 05:12:16 GMT

Thank you. This is great! I'm really confused with this credit card though, since I had NO contact with them since 2002, whatsoever. Here is what EXP states: Date opened: Aug 1999 Date of status: Mar 2007 Reported since: Jul 2001 Last Reported: Aug 2007 Type: Revolving Status: Account charged off/Collection account. $2,418 written off. $601 past due as of Aug 2007 Account History: Charge off as of Aug 2007, Jul 2007, June 2007, May 2007, Apr 2007, Mar 2007. So, if CA validates DV, what would be the wisest course of action? If CA does not validate DV, what would be the wisest course of action? Thank you!

Re: Should you say this in a DV letter?

Anonymous — Mon, 28 Jan 2008 05:21:26 GMT

Your magic date is somehere between Feb 2001 and and August 2001 (CA wouldn't be reporting if the OC hadn't given up on the account) - so what ever SOL is from August 2001 to be safe and add a month

If you are past SOL they can't sue and force you to pay. They get money only 1 way via PFD (but you live with it until August of this year if not agreed to). Personally - if you are past SOL I would DV them and just wait for it to drop-off. They know this is their last chance at getting anyhting from you since it should fall-off in August... sneaky devils aren't they?

Re: Should you say this in a DV letter?

Anonymous — Mon, 28 Jan 2008 06:13:51 GMT

Sneaky is such an understatement. They're criminal, at best. Grrr. I can't begin to tell you how much you have helped and how great this message board is. It feels like a God-send. Thank you again.