topic Re: Tradeline Advice in Rebuilding Your Credit

Tradeline Advice

twoodley24 — Sun, 03 Jul 2016 02:07:29 GMT

Hello Everyone,

I have diligently worked on my credit for the past year. My Transunion score had reached 669. In late April, I received a notice from Cascade Capital and I immediately sent a debt validation request. Cascade never responded to my DV letter. The tradeline was never on my report. Today I received notice that my score has dropped to 615 and Debt Recovery Solutions is the Debt Collector with Cascade as the original creditor. I have never received any notice from this collector before. Can I dispute this information with Transunion and provide proof of the DV letter sent? I'm not sure how to handle this. Any advice would be greatly appreciated.

Re: Tradeline Advice

RobertEG — Sun, 03 Jul 2016 06:24:28 GMT

The first issue is whether Cascade is the original creditor, or is also a diebt collector.

If they are not a debt collector, then the DV process does not apply to them.

Assuming that Cascade is in fact a debt collector, any DV woulld be appropriate, but a DV does not impose any period for or requirement to respond.

If timely, it imposes a cease collection bar, which remains in place until such time as they may choose to send validation.

If they assign of sell to another debt collector, that debt collector can report prior to any contact with or notice to the consumer.

Amy cease collection bar does not transfer to another debt collector.

Their reporting is thus permissible, and there is no basis for a dispute.

Re: Tradeline Advice

RonM21 — Sun, 03 Jul 2016 17:01:09 GMT

Is this a legitimate debt of yours?