topic Debt validation in Rebuilding Your Credit

Debt validation

Anonymous — Fri, 17 Jul 2015 04:28:03 GMT

Is it a good idea to send dv letter to a collection agency that was recently paid? Goal is to get deleted from credit report!
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Re: Debt validation

RobertEG — Fri, 17 Jul 2015 05:03:18 GMT

No point.

First, a DV is sent when, as stated in FDCPA 809(b), the consumer notifies the debt collector that "the debt, or any portion thereof, is disputed."

Once a debt has been paid, there is no more debt.

Second, even if timely, the effect of a DV is to impose a cease collection bar on the debt collector, which remains in effect until such time as they choose to proivde validation. Payiment of a debt terminates continued efforts to collect on a debt, thus making a cease collection bar redundant and meaningless.

Third, there is no period for or requiremnt to respond to a request for debt validation.

With their collection activites terminated by payment, they could care less about responding, and can simply chuck in the trash.

There is no such thing as deltion for lack of response to a DV request.

Re: Debt validation

Anonymous — Fri, 17 Jul 2015 05:34:41 GMT

Ok I think I'll dispute and see if it drops off

Re: Debt validation

RobertEG — Fri, 17 Jul 2015 05:44:31 GMT

What is the inaccuracy in reportng that would be the basis for a dispute?

CRA policy is that a furnisher should not delete based on payment of the debt.

The CRA can dismiss a dispute that lacks a showing of some inaccuracy as being "frivolous or irrelevant" with no need for investigation.

The correct approach is to send the debt collector a request for their voluntary, good-will deletion.

Sending frivolous DVs or credit reporting disputes is apt to build ill rather than good will.

Re: Debt validation

Anonymous — Fri, 17 Jul 2015 05:46:27 GMT

Do you have a sample good will delete letter?

Re: Debt validation

RobertEG — Fri, 17 Jul 2015 05:50:26 GMT

There is no set format or content.

Just request their good will deletion,and provide some rationale that might appeal to their gentler side.

Re: Debt validation

Anonymous — Fri, 17 Jul 2015 05:51:25 GMT

Ok that'll work!

Re: Debt validation

gdale6 — Fri, 17 Jul 2015 17:39:24 GMT

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Stories/td-p/1573680