topic Re: CVF Aquisition in Rebuilding Your Credit

CVF Aquisition

Anonymous — Mon, 20 Feb 2012 12:39:55 GMT

I sent a DV letter to CVF a couple of weeks ago. I have yet to receive a written response, but the account has been completely removed from my credit report.

Count my lucky stars or wait for a new CA to appear???

Re: CVF Aquisition

RobertEG — Mon, 20 Feb 2012 12:55:41 GMT

How old/how much is the debt?

Does the debt collector own it, or were they simply an assignee of the OC?

Re: CVF Aquisition

llecs — Mon, 20 Feb 2012 17:23:41 GMT

I had a few CAs do that. In most cases they gave up on collecting and sold it to a new CA.

Re: CVF Aquisition

Anonymous — Mon, 20 Feb 2012 20:58:26 GMT

The debt is for an old Wells Fargo credit card I never owned, for over $3,000. CVF was the owner of the debt. I sent in the DV letter requesting the signed credit app, and this was the result. I'm just hoping a new CA doesn't appear.

Re: CVF Aquisition

RobertEG — Mon, 20 Feb 2012 21:14:17 GMT

If its for a debt that you assert you never "owned," have you taken steps outside of the DV process to address its inaccuracy?

If, for example, it is a potential identity theft issue, then you have powerful tools under the FCRA to compel discovery of documents pertaining to the alleged debt.

The DV process, as interpreted by most courts, does not compel the debt collector to provide documentation in order to verify a debt. It is usually not the best way to address a "debt not mine" issue.

What are the facts pertaining to the debt"?

Re: CVF Acquisition

Anonymous — Mon, 20 Feb 2012 22:00:11 GMT

I have disputed the account with all three CRA's and told CVF over the phone about my concerns. I have not yet gone the identity theft route, because I wanted to see what would happen first if I did a DV. The CC was supposedly opened 9 years ago, so it will be difficult to get documents in order and get the police involved to sign the affidavit.

Should I expect to see a new CA appear?

Re: CVF Aquisition

RobertEG — Mon, 20 Feb 2012 22:16:47 GMT

Filing a police report does not require that they agree with you, or that you prove your complaint to them.

If you file a police report, then you can remove yourself from the impossible posititon of providing documents to prove a negative.

Under FCRA 609(e), you can send a copy of the police report to the creditor, and require THEM to document the accuracy of your alleged account with them.

It is a discovery right provided to consumers in order to place the burden on the creditor, not the consumer, to document questions over unauthorized debt/accounts.

Re: CVF Aquisition

Cherriwyn — Tue, 21 Feb 2012 13:50:12 GMT

Mine was an old Bally's account reporting as a medical collection. I sent a DV and it was removed as well.

Re: CVF Aquisition

Anonymous — Thu, 23 Feb 2012 12:32:54 GMT

@Cherriwyn wrote:
Mine was an old Bally's account reporting as a medical collection. I sent a DV and it was removed as well.

Cherriwyn - how long ago was your account removed? It's been over a week for me, and nothing else has popped up. Fingers crossed!!