topic Re: Need help with DV letter please. What should I do to get these deleted ? in Rebuilding Your Credit

Need help with DV letter please. What should I do to get these deleted ?

Anonymous — Thu, 18 Sep 2014 16:16:15 GMT

Hi friends. I am so new on this forum (I just found this site yesterday). I dont know how to begin wiht the DV letters. I have 5 negatives on my credit reports.

Do you guys see anything suspicious or wrong on this report ?? Should I start with the DV letter ?. And where can I get the sample of the DV letter. I read on some post saying that if the CA did report some invalidated info, they should deleted the record ? It will be so much appreciate if you could help me.

CAPITAL ONE
Status: Closed. $895 written off.
Date Opened: 12/2009
Reported Since: 01/2010
Date of Status: 09/2011
Last Reported: 04/2014
Type: Credit card
Terms: NA
Monthly Payment: $0
Responsibility: Individual
Credit Limit/Original Amount: $500
High Balance: $831
Recent Balance: NA
Recent Payment: NA
Comment: Purchased by another lender.

CREDIT ONE BANK
Status: Closed. $548 written off.

Date Opened: 10/2010
Reported Since: 10/2010
Date of Status: 05/2012
Last Reported: 05/2012
Type: Credit card
Terms: NA
Monthly Payment: $0
Responsibility: Individual
Credit Limit/Original Amount: $300
High Balance: $548
Recent Balance: $0 as of 05/2012
Recent Payment:$0
Comment: Purchased by another lender.

MIDLAND FUNDING

Original Creditor: CREDIT ONE BANK N.A.
Status: Collection account. $778 past due as of Aug 2014.
Status Details: This account is scheduled to continue on record until Jan 2018.

Date Opened: 11/2011
Reported Since: 01/2012
Date of Status: 01/2012
Last Reported: 08/2014
Type: Debt Buyer
Terms: 1 Months
Monthly Payment: $0
Responsibility: Individual
Credit Limit/Original Amount: $548
High Balance: NA
Recent Balance: $778 as of 08/2014
Recent Payment: $0

PORTFOLIO RECOVERY ASSOCIATES

Original Creditor: CAPITAL ONE BANK USA NA

Status: Collection account. $896 past due as of Sep 2014.
Status Details: This account is scheduled to continue on record until Dec 2017.

Date Opened: 03/2014
Reported Since: 06/2014
Date of Status: 06/2014
Last Reported: 09/2014
Type: Debt Buyer
Terms: 1 Months
Monthly Payment: $0
Responsibility: Individual
Credit Limit/Original Amount: $896
High Balance: NA
Recent Balance: $896 as of 09/2014
Recent Payment: $0

SYNCB/AMAZON
Status: Account charged off. $482 written off. $236 past due as of Aug 2014.
Status Details: This account is scheduled to continue on record until Apr 2018.

Date Opened: 04/2010
Reported Since: 04/2010
Date of Status: 12/2011
Last Reported: 08/2014
Type: Charge Card
Terms: NA
Monthly Payment: $0
Responsibility: Individual
Credit Limit/Original Amount: $320
High Balance: $482
Recent Balance: $482 as of 08/2014
Recent Payment: $25

Account History: Charge Off as of Dec 2011 to Aug 2014

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Re: Need help with DV letter please. What should I do to get these deleted ?

baller4life — Thu, 18 Sep 2014 16:27:10 GMT

Looks like you have collections and original creditors reporting. Direct disputes are to be sent to original creditors. Debt validation letters to collection agencies. Below is an example of a direct dispute. I am hunting down dv sample.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Direct-dispute/td-p/2309095

Re: Need help with DV letter please. What should I do to get these deleted ?

baller4life — Thu, 18 Sep 2014 16:31:50 GMT

Debt Validation sample

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Debt-Validation-Sample-Letter/m-p/3436265/highlight/true#M364844

Your OCs are Cap One, Credit One and Sync/Amazon
CAs are Midland and Portfolio

Re: Need help with DV letter please. What should I do to get these deleted ?

Anonymous — Thu, 18 Sep 2014 16:35:04 GMT

Thank you so much

Re: Need help with DV letter please. What should I do to get these deleted ?

baller4life — Thu, 18 Sep 2014 16:41:34 GMT

You're very welcomed. Mail those out certified mail return receipt. Hopefully you will get deletions just based on those. Update this thread to report your results. Good luck!

Re: Need help with DV letter please. What should I do to get these deleted ?

Anonymous — Thu, 18 Sep 2014 19:24:06 GMT

Do you think I should pay to delete on SYNCB/AMAZON ? I really owe them $$. Do you think they will accept the $80-100 that I will offer ?

Re: Need help with DV letter please. What should I do to get these deleted ?

baller4life — Thu, 18 Sep 2014 20:20:36 GMT

You can definitely try. If no luck, offer full amt. Only pay with a written agreement to pfd in hand. That goes for any creditor/CA.

Re: Need help with DV letter please. What should I do to get these deleted ?

Anonymous — Thu, 18 Sep 2014 22:11:11 GMT

Today, I already sent the DB letters to PRA & Midland Funding. I am still thinking about PFD for Amazon card (I do not have enough $$ to pay for more than $100, but recent balance is $482. Some said most of OCs do not accept less than 100% of what we owe. I am not sure if I should wait until the debt going to CA ? will it make easier negotiation if it goes to CA ?. Which CA does SYNCB/AMAZON use for collection ?. I also have another question but regarding another account that it is different situation from this, so I will make another post... Thanks

Re: Need help with DV letter please. What should I do to get these deleted ?

Anonymous — Thu, 18 Sep 2014 22:16:43 GMT

The general rule is don't send a PFD unless you are willing and able to pay the full amount.

Re: Need help with DV letter please. What should I do to get these deleted ?

Anonymous — Thu, 18 Sep 2014 22:23:46 GMT

Re: Need help with DV letter please. What should I do to get these deleted ?

‎09-18-2014 03:16 PM

The general rule is don't send a PFD unless you are willing and able to pay the full amount.

Thank you very much for the answer. So I should wait until it went to CA but probably the price will be more than I can afford

Re: Need help with DV letter please. What should I do to get these deleted ?

Anonymous — Thu, 18 Sep 2014 22:46:03 GMT

@Anonymous wrote:
The general rule is don't send a PFD unless you are willing and able to pay the full amount.

You can send a PFD letter with a settlement offer. Which means you make a settlement and if you settle with them, you pay them.

You don't have to pay the full balance on a Pay for Delete. You usually offer 20%-30% of the balance is the general rule of thumb.

You can expect they'll want 20-30% of the balance and some of them will want the full amount.