topic Re: PFD after dispute? in Rebuilding Your Credit

PFD after dispute?

meeklo062704 — Thu, 08 Oct 2015 17:19:31 GMT

After a debt being resold, I would imagine that would give me another 7.5 years with it. So I'm wondering if I go straight for PFD, or of I dispute first. Has anyone had any experience with a dispute disrupting a PFD chance? Also just to verify, it's 7.5 years from when the account was opened, not from the date of the original report date right?

Re: PFD after dispute?

Rebuilding69 — Thu, 08 Oct 2015 21:59:21 GMT

It's from the Date of First Delinquency, not the date it was opened. The date it was opened just means the date the jdb/ca was given authority to start collecting/reporting.

Are you sure the debt has been sold? Was the old listing deleted off your credit report? If it was resold, you might be able to catch the new entity before they list it again & pay them in exchange for not listing it.

Re: PFD after dispute?

RobertEG — Thu, 08 Oct 2015 22:11:28 GMT

You have no issue with extending the credit report exclusion date, which is based only on the DOFD plus a mx of 7 years plus 180 days.

I assume that by dispute, you are referring to sending of a DV request to the new debt collector, as opposed ot a dispute of credit reporting under the FCRA?

They are different animals.

If you are referring to a DV, then if the DV is timely, it will impose a cease collection bar on the new debt collector, which remains in force until such time as they choose to provide verification. The cease collection bar prohibits them from any collection activites, including negotiation of a PFD or a settlement.

Thus, you are in limbo until after they have verified, so yes it can disrupt a PFD consideration.

Re: PFD after dispute?

meeklo062704 — Thu, 08 Oct 2015 22:49:37 GMT

@Rebuilding69 wrote:
It's from the Date of First Delinquency, not the date it was opened. The date it was opened just means the date the jdb/ca was given authority to start collecting/reporting.

Are you sure the debt has been sold? Was the old listing deleted off your credit report? If it was resold, you might be able to catch the new entity before they list it again & pay them in exchange for not listing it.

Therin lies the odd part. I saved an old copy of my credit report. The original date of opening of the collection account was September 2010, and the note says that it would be listed until January 2016. It was removed in July 2014, so I figured it was just an early reprieve. All of a sudden I get a new collection account on transunion report 2 days ago. When I checked the account it said that it was opened in May 2014, but for some reason nothing showed up until this week. It's the exact same $247 between the old and new account. I'm not concerned with the amount, I just want it gone so it doesn't drag down my score that I have worked my butt off to improve.

Re: PFD after dispute?

Rebuilding69 — Thu, 08 Oct 2015 22:59:04 GMT

@meeklo062704 wrote:
After a debt being resold, I would imagine that would give me another 7.5 years with it. So I'm wondering if I go straight for PFD, or of I dispute first. Has anyone had any experience with a dispute disrupting a PFD chance? Also just to verify, it's 7.5 years from when the account was opened, not from the date of the original report date right?

You still need to find the DOFD, which will be before Sept 2010. What kind of account is this? You need to know A) whether you can still be sued & B) when it will fall off your reports(assuming you can't get a PFD to happen).

You can use the annual free credit report website to get your DOFD's if you haven't already, which will give you the needed DOFD's.

Are the companies who are listing these different?

Re: PFD after dispute?

RobertEG — Thu, 08 Oct 2015 22:59:09 GMT

Collections can be "removed" in one of two ways.

Either the collection reached its credit report exclusion date, and was excluded (not deleted) by the CRA, or the debt collector could have, at any time, reported deletion to the CRA.

I would not assume that the earlier collection was excluded by the CRA.

It was most likely deleted by the prior debt collector, which does not preclude its reinsertion by another.

Re: PFD after dispute?

Rebuilding69 — Thu, 08 Oct 2015 23:03:44 GMT

I'm assuming this is for the Time Warner account you are talking about in your other threads. Keeping all of this in one thread helps everyone to help you easier.

Re: PFD after dispute?

meeklo062704 — Fri, 09 Oct 2015 02:56:26 GMT

Correct, it is the Time Warner account, sorry for the double thread. It was meant to be just a separate question just about the which route to go first, but then the information got included. I saved a copy of my freecreditreport from when the original collection account was still on there. It doesn't list a DOFD on there. Time Warner where the debt is from, the original collection account was from CBA Collection Bureau, and the new one that just popped up is from MRS BPO. Does going for a PFD or a dispute do anything to reset any SOL?

Re: PFD after dispute?

Anonymous — Fri, 09 Oct 2015 03:28:27 GMT

@meeklo062704 wrote:
Correct, it is the Time Warner account, sorry for the double thread. It was meant to be just a separate question just about the which route to go first, but then the information got included. I saved a copy of my freecreditreport from when the original collection account was still on there. It doesn't list a DOFD on there. Time Warner where the debt is from, the original collection account was from CBA Collection Bureau, and the new one that just popped up is from MRS BPO. Does going for a PFD or a dispute do anything to reset any SOL?

You really need to determine the DoFD and also the SOL on the account.

The DoFD (Date of First Delinquency) is the first 30 day late payment that caused the account to be COd, or sent to collections. If you cant determine it from looking at your CRs, you can call the CRAs and ask them what it is. The date is shown clearly on the EQ report and on the TU report, it will show when the account will roll off your CRs.

Then determine the SOL for your state. If you dont know it, then google it.

The DoFD for the CA should be the same as the OC. After 7 years, it will be excluded from showing on your CR. It will not be paid or excused, just not displayed anymore.

When it is past the SOL for your state, it means they cant use the courts to get payment, like in a judgement. They can still sue, but you have to show up and prove it is past the SOL and it will be dismissed. If you dont show up, they will get a default judgement.

Very often, a bill from a cable company can be recalled from the CA and then you can pay the OC, usually as a PFD. You will have to call Time Warner and ask them to recall the debt before you pay them. If they recall it before you pay, that will remove collection authority from the CA and they must delete their account from your CRs. That will benefit you. Then if you can get Time Warner to do a PFD, that will get rid of the OC account and benefit you again. It would be like it never happened then. If they wont do a PFD, then you can still pay them and it will be a closed account, still better than an open collection. Then wait a month and start sending GW letters to TW asking them to delete the account since its paid. It will most likely take more than one GW letter, but keep trying.

HOPE that helps.

Re: PFD after dispute?

Anonymous — Fri, 09 Oct 2015 03:41:18 GMT

@meeklo062704 wrote:
@Rebuilding69 wrote:
It's from the Date of First Delinquency, not the date it was opened. The date it was opened just means the date the jdb/ca was given authority to start collecting/reporting.

Are you sure the debt has been sold? Was the old listing deleted off your credit report? If it was resold, you might be able to catch the new entity before they list it again & pay them in exchange for not listing it.
Therin lies the odd part. I saved an old copy of my credit report. The original date of opening of the collection account was September 2010, and the note says that it would be listed until January 2016. It was removed in July 2014, so I figured it was just an early reprieve. All of a sudden I get a new collection account on transunion report 2 days ago. When I checked the account it said that it was opened in May 2014, but for some reason nothing showed up until this week. It's the exact same $247 between the old and new account. I'm not concerned with the amount, I just want it gone so it doesn't drag down my score that I have worked my butt off to improve.

I just reread your posts. The part in red above says it will be listed until Jan 2016 so we can subtract 7 years from that date and make a good guess that it has a DoFD of Dec 2009.

That is the date the drives everything else.

Re: PFD after dispute?

meeklo062704 — Fri, 09 Oct 2015 05:20:39 GMT

Subtracting the years from January 2016 seems to be the only way to figure it out, because the DOFD isn't listed anywhere. So realistically, as of January 2016 that account is supposed to disappear regardless of who holds the debt, or how long they've held it for? If paying for it is the only way to get rid of it, then so be it. If there is a way to get rid of it without paying for it, that would be preferable based on principle. I paid for internet service for a long time, and they delivered a speed $20 lower than what I paid for. There explanation was that I didn't call to let them know to turn the speed up. Their refusal to do anything to remedy the imbalance is what caused me to cancel the service and incur an early termination fee. So if I have to pay them to get rid of it I will. If I don't, I'd rather see the money go to something more noble, like buying beer for homeless people.

Re: PFD after dispute?

redbeard — Fri, 09 Oct 2015 05:31:23 GMT

@Anonymous wrote:
@meeklo062704 wrote:
@Rebuilding69 wrote:
It's from the Date of First Delinquency, not the date it was opened. The date it was opened just means the date the jdb/ca was given authority to start collecting/reporting.

Are you sure the debt has been sold? Was the old listing deleted off your credit report? If it was resold, you might be able to catch the new entity before they list it again & pay them in exchange for not listing it.
Therin lies the odd part. I saved an old copy of my credit report. The original date of opening of the collection account was September 2010, and the note says that it would be listed until January 2016. It was removed in July 2014, so I figured it was just an early reprieve. All of a sudden I get a new collection account on transunion report 2 days ago. When I checked the account it said that it was opened in May 2014, but for some reason nothing showed up until this week. It's the exact same $247 between the old and new account. I'm not concerned with the amount, I just want it gone so it doesn't drag down my score that I have worked my butt off to improve.
I just reread your posts. The part in red above says it will be listed until Jan 2016 so we can subtract 7 years from that date and make a good guess that it has a DoFD of Dec 2009.

That is the date the drives everything else.

Actually, it would be Dec 2008, not 2009, if anyone is really counting.

If it comes off in Jan 2016, which means its probably already eligible for early exclusion and most likely past any statute of limitations, I would just ignore it and call the credit bureaus and ask for early exclusion.

If its only $247, I'd probably pay it as well, if I feel I owed it. That part is up to you, but if you do, try to pay the OC not the CA. Not a big issue if the CA hasn't put it on the report yet.

Dan

Re: PFD after dispute?

meeklo062704 — Fri, 09 Oct 2015 15:35:00 GMT

I'm all on board with paying fair debt. I've done a lot of it while I have been rebuilding my credit. TW overcharged me by $20 for a couple years, so the $247 is less than I was overcharged for. I'd rather donate it to a charity.

So realistically, if I wait until February, I can successfully dispute it?

Re: PFD after dispute?

Anonymous — Fri, 09 Oct 2015 16:50:00 GMT

@meeklo062704 wrote:
I'm all on board with paying fair debt. I've done a lot of it while I have been rebuilding my credit. TW overcharged me by $20 for a couple years, so the $247 is less than I was overcharged for. I'd rather donate it to a charity.

So realistically, if I wait until February, I can successfully dispute it?

Nope - if you wait until February of 2016, you dont have to dispute it.

It should be Excluded from your reports automatically. After 7 years (no more than 7.5 years, but typically 7 years) the CRAs will Exclude it from normal views of your CRs.

Again, it will not be deleted, it wont be paid, it wont be excused. It will still be a valid debt. It will just not be shown on regular reports.

A JDB can still buy the debt and still try to collect on it, but the CRAs should exclude it from showing for any CA in the future. It will be time barred debt.

If a mortgage lender or future employer ever orders and pays additional for a 'full and factual report', it could show up on there. I am not certain how long it still shows on a full and factual report.

But if you do nothing at all till February of 2016, it should roll off your reports automatically.

HTH

Re: PFD after dispute?

meeklo062704 — Fri, 09 Oct 2015 17:11:31 GMT

Good info, thanks. So if I decided to pay and try to have it deleted, without a bunch of time wasted, what's the most reliable route?

Re: PFD after dispute?

gdale6 — Fri, 09 Oct 2015 22:21:01 GMT

@meeklo062704 wrote:
Good info, thanks. So if I decided to pay and try to have it deleted, without a bunch of time wasted, what's the most reliable route?

Send the PFD offer to the CEOs office.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Q-amp-A-Examples-and-PFD-Success-Stories/td-p/2031275

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Example-Letter/td-p/4519

Re: PFD after dispute?

meeklo062704 — Fri, 12 Feb 2016 22:08:55 GMT

So I've waited for the fall off date in January 2016, and it's still showing on my report as of this week. What is the most expedient way to have it excluded? Would it be calling or writing the bureaus to dispute it? Are those dispute buttons on credit karma effective at all? I'm just trying to finally get it bumped since it doesn't seem as though MRS is going to stop reporting it.

Re: PFD after dispute?

Anonymous — Fri, 12 Feb 2016 22:32:08 GMT

@meeklo062704 wrote:
So I've waited for the fall off date in January 2016, and it's still showing on my report as of this week. What is the most expedient way to have it excluded? Would it be calling or writing the bureaus to dispute it? Are those dispute buttons on credit karma effective at all? I'm just trying to finally get it bumped since it doesn't seem as though MRS is going to stop reporting it.

Creditors don't "stop reporting" an item - all they do is report the original default date. The CRA's handle the exclusion of items based on their reported age. You can dispute them online, or you can just call the CRA's and ask them to remove them based on their age.

Re: PFD after dispute?

meeklo062704 — Sat, 13 Feb 2016 00:51:23 GMT

Ah, got it. Is there any major difference in speed or effectiveness between calling and hitting the report button?

Re: PFD after dispute?

Anonymous — Sat, 13 Feb 2016 03:47:42 GMT

@meeklo062704 wrote:
Ah, got it. Is there any major difference in speed or effectiveness between calling and hitting the report button?

Calling will usually get it removed on the spot. Online may take a few days.