topic Re: do i always have to send DV before PFD even if i know its valid collection in Rebuilding Your Credit

do i always have to send DV before PFD even if i know its valid collection

Anonymous — Thu, 30 Jul 2009 18:45:00 GMT

im thinking of sending 2 pfd because i know they are mine

can i just skip mailing a dv

also

do i sen the check/money order with pfd?

thanks 4 ur help

Re: do i always have to send DV before PFD even if i know its valid collection

Anonymous — Thu, 30 Jul 2009 19:03:21 GMT

It is my understanding that DVs are to be sent to CAs by CMRRR to prove that they actually have the right to collect money for the account they are trying to collect for. With that said, even if you know the debt is valid, it does not mean that the CA has the right to collect on behalf of the OC. If the CA can not provide DV information with in the time alloted then you may still be able to talk with the OC and work out some agreement for payment and have the non-valid CA TL on your CRs removed.

As far as whether or not you send a check/money order with a PFD, the answer is NO. Your first PFD letter is basically to offer the CA/OC a payment in exchange for a delete of the TL. Once they agree and have sent you something in writing stating that they will in fact accept your payment and agree to delete the TL once payment is received, then you send them the payment. This is all so you have some recourse in case they do not hold up their end of the agreement.

I hope that helps

Re: do i always have to send DV before PFD even if i know its valid collection

llecs — Thu, 30 Jul 2009 21:14:09 GMT

Ditto. Don't send a PFD until you DV first. There's some scenarios that can come into play if you don't DV first.

Some CAs try to collect on a debt they legally aren't allowed to collect on. A DV challenges them up front and opens a line of communication between you and them. Don't send the DV with the long list of stuff they have to come up with, but send the simple DV found in here somewhere that basically says "Please send me validation per section 809 of the FDCPA" or something like that. It is a 1 paragraph letter. Its non-threatening. If they respond and you agree, then offer a PFD. If they reply with a letter agreeing to the terms, then pay it and they'll delete.

Some CAs aren't allowed to collect because they already sold the debt. If you send them a PFD, and they agree, and you pay it, then imagine your surprise if a new CA reports in their place. Happened to my DW on a settlement. A DV would have set that straight upfront.

Some CAs don't even respond to PFDs. They will continue to report over and over. This results in closed contact with them and it becomes a challenge to get them to go away. Some even ramp up the collection calls, reporting, lawsuits, etc.

Some CAs when you send a DV will respond with verification and will include a settlement offer. In a case like that you now have a route by which to save money by a settlement by incorporating that into a PFD.

Some CAs actually disappear when you send a DV. More than likely they weren't allowed to collect in the first place.

Re: do i always have to send DV before PFD even if i know its valid collection

Anonymous — Thu, 30 Jul 2009 21:25:44 GMT

Totally off subject but . . . YEAH! All my time spent on here researching and reading every thread possible to repair my credit allowed me to give useful advice to someone else. Guess this forum is helpful in more ways than one.

Message Edited by FICOmeThis on 07-30-2009 02:25 PM

Re: do i always have to send DV before PFD even if i know its valid collection

llecs — Thu, 30 Jul 2009 21:38:28 GMT

FICOmeThis wrote:
Totally off subject but . . . YEAH! All my time spent on here researching and reading every thread possible to repair my credit allowed me to give useful advice to someone else. Guess this forum is helpful in more ways than one.
Message Edited by FICOmeThis on 07-30-2009 02:25 PM

Feels good, doesn't it? Just wait until folks start posting back saying this was deleted or that was repaired because of advice you gave. Paying it forward. Without everyone on here, I'd be in credit hell.

Re: do i always have to send DV before PFD even if i know its valid collection

Anonymous — Fri, 31 Jul 2009 00:15:55 GMT

Wow! You guys know your stuff! thanks for explaining that so clearly. NOW i understand how this works.

I know these things cant be rushed but i figured skipping this dv would save time but now I see it can save $$ & headache in long run. Is there any way to do a phone dv...make them verify the debt by calling them & keeping log?

Also I received two settlement letters few months back from lincoln towing & firestone. The letter basically says they would agree to 1/2 to settle my account but nothing about the pfd. Should I send a pfd in response.

Also anyone have an example of simple dv letter please.

Thanks so much- you guys are great!! And i was thinking I should hire an agency to help with this. I even better personal advisers right here

tytytyty!!

Message Edited by pasdetrois on 07-30-2009 05:15 PM

Re: do i always have to send DV before PFD even if i know its valid collection

Anonymous — Fri, 31 Jul 2009 00:30:20 GMT

One more thing. Can I send a check/money order with a conditional deposit/cod or something like that

I have few small collections under $100 I like to do this

thanks

Re: do i always have to send DV before PFD even if i know its valid collection

RadioRob — Fri, 31 Jul 2009 00:42:17 GMT

You need to research this a bit further as it depends on the laws of your state, etc. Conditional endorsements are not always enforceable, etc. So they may happily cash your check, but not perform the desired action you want (deleting the TL).

Re: do i always have to send DV before PFD even if i know its valid collection

Anonymous — Fri, 31 Jul 2009 05:05:48 GMT

@llecs wrote:

Feels good, doesn't it? Just wait until folks start posting back saying this was deleted or that was repaired because of advice you gave. Paying it forward. Without everyone on here, I'd be in credit hell.

Yes it does!

Re: do i always have to send DV before PFD even if i know its valid collection

RobertEG — Fri, 31 Jul 2009 05:21:34 GMT

My two cents.

You never have to send a DV letter.

A DV letter is not required, or even advised, in all situations.

All a DV letter legally does is to shut off all active collection activity until, and if, the CA chooses to respond. It sets no legal period to for them to respond.

Meanwhile, the CA can ignore it, and even bring legal action for recovery of the debt.

If you truly dspute the debt, I would recommend a dispute under FCRA 611(a) in addition to a semi-meangless DV letter, for that compels verification with 30 days.

Just my opinion.

Re: do i always have to send DV before PFD even if i know its valid collection

Anonymous — Fri, 31 Jul 2009 05:33:16 GMT

pasdetrois wrote:

I know these things cant be rushed but i figured skipping this dv would save time but now I see it can save $$ & headache in long run. Is there any way to do a phone dv...make them verify the debt by calling them & keeping log?

You can attempt to call them and negotiate a PFD for the account, if they agree have them fax you something in writing stating that upon receipt of your payment they will delete the TL from your CRs. That's a faster way to go than snail mail. Make sure you document who you talked to, get an extension number if you can just in case you need it later. I have a log of all correspondence between myself and anyone I have contacted in regards to repairing my credit. However, your personal log will not be enough to hold them to their agreement should they decide to cash your payment and NOT delete the TL. This is why it is important to get something in writing from the CA or OC, it is definitely in your best interest. I know it can seem tedious going back and forth, but in my case I was glad I did.

Also I received two settlement letters few months back from lincoln towing & firestone. The letter basically says they would agree to 1/2 to settle my account but nothing about the pfd. Should I send a pfd in response.

Doesn't hurt to try!

Also anyone have an example of simple dv letter please.

If you look under most Frequently Requested Threads you should be able to find examples. That is where I found mine.

Thanks so much- you guys are great!! And i was thinking I should hire an agency to help with this. I even better personal advisers right here.

tytytyty!!

Message Edited by pasdetrois on 07-30-2009 05:15 PM

Message Edited by FICOmeThis on 07-30-2009 10:33 PM

Re: do i always have to send DV before PFD even if i know its valid collection

Anonymous — Sat, 01 Aug 2009 01:20:06 GMT

Hi Again

Im not really trying to dispute the debts..I want to do PFD.

What is the most sucessful way of getting this done?

thanks

Re: do i always have to send DV before PFD even if i know its valid collection

Anonymous — Sat, 01 Aug 2009 16:09:24 GMT

DV serves multiple purposes.

1. It validates and verifies the debt

2. It temporarily stops collection activities

3. It is a pre-cursor step to most credit cleaning, including PFD, settlement, dispute, etc.

However, if you know the debt is yours, know you owe it and have the money, you can make a direct PFD offer, properly executed.

I have known individuals who have combined DV and PFD. They made the PFD, without admitting liability, and stated it was merely a settlement to avoid the delays and costs of potential dispute or litigation.

They stated within the PFD, if the offer were not accepted, to please provide validation of the debt, etc. etc. So it was PFD, but if refused a DV letter.

This person had the assistance of an attorney to draft the correspondence.

Re: do i always have to send DV before PFD even if i know its valid collection

Anonymous — Sat, 01 Aug 2009 19:18:02 GMT

@Anonymous wrote:
Hi Again
Im not really trying to dispute the debts..I want to do PFD.

What is the most sucessful way of getting this done?

thanks

Okay . . . Are you trying to PFD the OC or the CA?

If you are trying to PFD the OC of the account then as stated before you can . . .

1. Write them a letter via snail mail and ask if they would be interested in a PFD for the

account ask them to please send you something in writing.

2. Call them and discuss the possibility and have them send you something in writing either via snail mail or by fax.

3. Email them and ask them to consider a PFD for the account and to send you something in writing either via snail mail or fax.

If you are trying to PFD the CA of the account then there are a few more things to consider . . .

1. Does the CA have the legal right to collect money on default accounts on behalf of the OC? If you PFD to the CA currently trying to collect and they do not have the legal right to collect for the OC then you are screwed. They will just take your money and won't delete anything! Then what are you going to do when a CA that DOES have the legal right to collect on behalf of the OC starts trying to collect from you but you have already paid another CA that did NOT???? No one wants to be in that kind of situation.

2. A DV to the CA is not to dispute the debt itself, it is to VALIDATE in writing that the CA did in fact purchase the account from the OC to collect on the default account. I understand that you know you owe this money to the original creditor but what you don't know is whether or not the collection agency trying to collect on your default account is allowed to and that is what the debt validation is for. But a DV is totally up to you, it is just a way to save you a headache should any problem occur.

There is no exact method to get a PFD accepted you just have to keep asking them to consider it. Some companies are more willing than others to accept a PFD others take a bit longer and several correspondences before they agree and some just plain and simply won't accept it. Just have to try your luck and keep trying.

Hope that helps

Re: do i always have to send DV before PFD even if i know its valid collection

Anonymous — Sat, 06 Mar 2010 21:07:48 GMT

Can I DV or PFD a CA when the account is within SOL?

Re: do i always have to send DV before PFD even if i know its valid collection

Anonymous — Sat, 06 Mar 2010 22:52:59 GMT

If you DV inside of SOL make sure you have the money to pay in full in case they validate and will not PFD.

SOL does not matter if you PFD.