topic Which DV letter? in Rebuilding Your Credit

Which DV letter?

Journey — Sat, 21 Feb 2009 14:19:17 GMT

Hi,

As I've been poring over these forums, I see a few different DV letters, ranging from the very basic three liner to one citing laws and statutes. Which would be best to send a CA for an old phone acct for $140? This will be my first DV and I'm kinda confused as to which letter to use when.

Thanks!

Re: Which DV letter?

kjm79 — Sat, 21 Feb 2009 18:19:20 GMT

Start off simple and send a basic DV letter. If it comes back verified offer a pfd on it.

Re: Which DV letter?

Anonymous — Sat, 21 Feb 2009 19:17:24 GMT

You can use any DV letter. What do you mean bu OLD? The federal SOL on phones is 2 years from DOFD

Re: Which DV letter?

Journey — Sat, 21 Feb 2009 21:49:35 GMT

both are old residential phone line accounts,

DOFD 06 and 05.

2 year SOL applies to residentail phone acounts?

Re: Which DV letter?

Anonymous — Sat, 21 Feb 2009 22:42:49 GMT

yes all phones!

Re: Which DV letter?

Journey — Sun, 22 Feb 2009 02:23:27 GMT

Please forgive my ignorance, but does the fact that the SOL is out influence whether I send a DV/ PFD or not?

Thanks for any info/ advice you can provide!

Re: Which DV letter?

kjm79 — Sun, 22 Feb 2009 02:36:21 GMT

If the SOL has run that means they can't come after you to pay the debt anymore. They may actually be more willing to accept a PFD delete now. Start with the DV first though, if they can't validate then you save some money.

Thanks HappyDays. I was not aware the the SOL was two years for phones. Learn something new all the time on this site.

Re: Which DV letter?

Journey — Sun, 22 Feb 2009 02:58:05 GMT

Good news! Thanks for the encouragement...I will DV first then offer PFD.

Does anyone ever feel a bit dishonest DVing when you know the acct is yours?

Also, do you by chance know the SOL for an old checking account?

Thanks again!!! I am learning so much!

HELP with debt validation request from a baddie

Anonymous — Sun, 22 Feb 2009 03:36:32 GMT

I GW'd a december 2005 student loan consolidation screw up ( Direct loans forgot to include this one) from a company called BRAZOS last month asking them to remove it because it's old and was the mistake of the Direct Loans consolidation over three years ago. They responded asking for debt validation: asking me to send a copy of my credit report showing their account on it. what does this mean? Why are they asking me to send THEM info on their account in my credit report? Does it mean they no longer can verify it in their systems if i were to dispute it with the bureaus?

Re: HELP with debt validation request from a baddie

kjm79 — Sun, 22 Feb 2009 03:50:46 GMT

Dv'ing isn't only to make sure the account is actaully yours it's also to verify that whomever is reporting actually has the right to report it. There are very often vultures out their that "take over" a debt that they don't own and try to collect from you. You may know that a account belongs to you, but you want to make sure you pay the right person. You'll read horror stories on here about people paying to some CA to later find out it was the wrong CA. Sad thing is, they still owe the original debt.

It sounds like BRAZOS is attempting to shift the burden to you. Don't give them anything. Write them back, enclose their letter where they ask you to do their job, state once again you are requesting validation of such and such account from them and that they are required to respond with the appropriate validation. Give them whatever timeframe you feel is fair (I did a ten day once) and inform them that sould they not respond with the proper validation in that time, you will forward all correspondence (including their letter) to the CRA's in order notify them that BRAZOS was unable to validate this account. Please delete it from my credit file.

Re: HELP with debt validation request from a baddie

kjm79 — Sun, 22 Feb 2009 03:52:50 GMT

One other thing MzIndependent - be sure to send BRAZOS this next letter CMRRR so that you can prove not only that they did receive it, but when.

Re: HELP with debt validation request from a baddie

Anonymous — Sun, 22 Feb 2009 04:08:20 GMT

Thanks so much, I will be writing that letter tonight. Another question: How can I get inquiries removed? I did not initiate several inquiries I see on my EX (22) and Transunion (14). I think they are really hurting my scores too! Do I dispute each one in separate letter to each bureau? Or list them on one letter for the Experian report and then oneletter with all inquiries listed for Transunion?

I also have JCP 120 day late/charge off from June 2006 on Transunion and Equifax. And 2- 30 day lates from MACYS (mar 2004 and Feb 2008) How can i get them to remove them from credit file? What should i write?

Re: HELP with debt validation request from a baddie

kjm79 — Sun, 22 Feb 2009 04:18:20 GMT

Some inquiries hurt your score while others do not. You can't tell which is which on the MyFico reports (someone please correct me if I'm wrong), you'll need to pull from the actual agency for that. If you do see that some inquiry is hurting your score that you are 100% and unequivocally unauthorized, then and only then, you could dispute with CRA's. But its really very tricky because the inquiry could be from an affiliate of one of your creditors, and unless you've opted-out from them sharing your info then it's a valid inquiry. If you have not done so, you should opt-out with all CRA's and with each of your current and in good-standing creditors. You can find the links to do this in the HIPAA process post.

Try Goodwill letters to JCP and Macy's. Explain why you were late, what you've done since to make sure you're not late, talk about how long you've been a customer, how great they are, how much you love their stores and humbly beg them to give you a second chance at a positive credit rating.

Re: Which DV letter?

Anonymous — Sun, 22 Feb 2009 05:11:57 GMT

Sorry for this silly ??? I'm from CO, and I found a great DV letter here in the forum, but was wondering if all the consumer acts are the same or if someome can guide me to where I can find them so I can add to the letter.

For the phone dv letter, are we still suppose to send it out even if the 2 yrs. has expired or do we just send a letter to the CRA to investigate it and have it removed?

Thank for your help!!!!!

Re: Which DV letter?

kjm79 — Sun, 22 Feb 2009 05:21:59 GMT

Try this state reference link: http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&thread.id=38198 for Colorado specifics. I honestly didn't know about the phone thing until tonight.

Yes, even though the two years is up, still send the DV. The SOL provides the creditor with a certain amount of time in which they can legally try to collect this debt from you. Just because the SOL has run doesn't mean they have to remove it from your report. They just can't come after you anymore for it. It will stay on the report the 7-7.5 years its supposed to unless you can agree to get them to remove it sooner, hence the PFD.