topic Re: Deleted debts?? Now what?? in Rebuilding Your Credit

Deleted debts?? Now what??

Zillarex — Thu, 28 Jun 2012 22:13:11 GMT

Ok, I had a lvnv baddie deleted a couple weeks ago via BBB complaint. The company was unable to validate the debt they purchased blah blah blah. They closed the account and deleted, so what happens to this debt that was not validated? Do they try and sell it to another company?

Re: Deleted debts?? Now what??

RobertEG — Thu, 28 Jun 2012 22:27:25 GMT

Debt lives until paid. They did not delete the debt, just their reporting of their collection activites on the debt. Expiration of legal periods, such as SOL or CR exclusion, do not vacate a debt, just actions that creditors or debt collectors may take to attempt collection.

Since your deletion resulted from an informal BBB complaint rather than a formal dispute under the FCRA, their are no special requirements for reinsertion of a collection by another furnisher.

If another debt collector reports, any DV process would start anew. However, your SOL would not be affected by that alone, and the CR exclusion period would not be altered.

How old is the debt (i.e., what is the DOFD on the OC account)?

Re: Deleted debts?? Now what??

Zillarex — Thu, 28 Jun 2012 22:28:32 GMT

The sol expires 8-22-12

Re: Deleted debts?? Now what??

Zillarex — Thu, 28 Jun 2012 22:32:00 GMT

Since they closed the account, and deleted the account from my credit file. I could probably count on this account being sold to another jdb? I assume? I really am just wanting to settle the debt without it being reported again is all I'm hoping for.

Re: Deleted debts?? Now what??

RobertEG — Thu, 28 Jun 2012 22:34:48 GMT

If the SOL expires, then you can safely address further debt collectors by sending them a cease communication letter under FDCPA 805(c).

That prevents any further communication with you, but wont require any CR deltion.

You would then wait for the 7 yrs plus 180 days from DOFD for the exclusion of any and all collections on the debt from your CR.

Re: Deleted debts?? Now what??

Zillarex — Thu, 28 Jun 2012 22:39:43 GMT

I guess this is my question, lvnv put this on my credit file without notice and I understand this is ok. They are allowed to. How could I now find out where this debt is going and to whom it's going to?

Re: Deleted debts?? Now what??

Zillarex — Thu, 28 Jun 2012 22:42:49 GMT

Ohio has a 6 year sol on credit cards, can this debt still be placed on my credit report after the sol of 8-22-12?

Re: Deleted debts?? Now what??

RobertEG — Thu, 28 Jun 2012 22:46:59 GMT

SOL on commencment of legal action is totally unrelated to credit reporting. Yes, they can still report after expiration of SOL.

Re: Deleted debts?? Now what??

Zillarex — Thu, 28 Jun 2012 22:50:58 GMT

Ok, should I contact lvnv and ask where this debt is headed? I accomplished what I wanted in the deleted tradeline - now I want to clear the books from any future derog

Re: Deleted debts?? Now what??

RobertEG — Thu, 28 Jun 2012 22:54:26 GMT

If they sold it, where it might be headed would no longer be an issue with them.

However, you may be able to get the name and address of any new owner, thus permitting you to send them a DV, and thus delay any credit reporting.

Re: Deleted debts?? Now what??

Zillarex — Thu, 28 Jun 2012 22:59:47 GMT

Ok thanks for the info

Re: Deleted debts?? Now what??

Zillarex — Thu, 28 Jun 2012 23:22:56 GMT

If one collection agency fails to validate, are they really able to resell the debt to another company?

Re: Deleted debts?? Now what??

golo — Fri, 29 Jun 2012 01:14:53 GMT

I would like to know that too.

Re: Deleted debts?? Now what??

RobertEG — Fri, 29 Jun 2012 01:50:03 GMT

Yes.

The FDCPA does not compel verification.

It is a debt collection practices matter that requires cessation of their collection activities until such time as they provide a requested verification.

Failure to verify is not the same as being unable to verify.

Re: Deleted debts?? Now what??

Zillarex — Fri, 29 Jun 2012 02:03:01 GMT

I'm confused I guess, I filed a complaint with FTC, BBB. Lvnv requested 30-45 days for documentation. They responded to the BBB that unfortunately they were unable to provide documentation from the original creditor..which was another CRA. The BBB emailed advised this account is now closed and they tradelines will be deleted. Which they are. After all this, they can still sell an account that they can't validate with documents??

Re: Deleted debts?? Now what??

mmrgr — Fri, 29 Jun 2012 06:27:02 GMT

How long after filing a bbb complaint did you get a response about LVNV? Thanks

Re: Deleted debts?? Now what??

Zillarex — Fri, 29 Jun 2012 13:38:21 GMT

Couple weeks

Re: Deleted debts?? Now what??

injustifiiable — Fri, 29 Jun 2012 13:40:24 GMT

@mmrgr wrote:
How long after filing a bbb complaint did you get a response about LVNV? Thanks

Mine took two months but others have had success sooner.