PFD vs. DV

[Anonymous]

Hi,

New to forums and new to cleaning up my credit.  My question is this.  Now that I have my credit reports, what should be my first step?  Should I DV or should I PFD?  I was thinking that if I PFD first, it might be construed as validation of the debt.  Also, is it advisable to PFD the OC first?  Do they have the right to request the account be deleted by the CA?  Thanks!

[Anonymous]

First thing you do is know the SOL for the state you are in and the state where you opend the account (if different).  Check statute of Limitations

Then determine the DOLA and DOFD -  should be on reports.

Then you email any appicable state AGs and ask if they use DOFD or DOLA to determine the run of SOL

Having gathered all of that (and knowing if you contact them whether they can sue and win or  not) - theny ou can DV. 

You do not DV a CA that is silent unles SOL has run or you can afford to pay them in full to prevent a lawsuit.

[Anonymous]

Lady_Scarlet,

Thank you for your response.  I guess I am confused about the importance of SOL.  If the SOL in the state I currently reside is shorter than the SOL of the state where I opened the account, why is that important?  Thanks!

[Anonymous]

They can legally sue in either - so you want to cover your arse.  If both have run then DV.

Message Edited by Lady_Scarlet on 02-05-2008 03:49 PM

[Anonymous]

Lady_Scarlet, 

OK.  So if they can legally sue in either state, how do I cya?  Also, you said do not DV a CA who is silent, what does that mean?

If I am understanding you, my first step (understanding that they can sue if the SOL's have not run out if I contact them) would be to DV?

Thanks!

[Anonymous]

If they are 'silent' - not harrassing you ot threatening suit then you wait out SOL unless you can afford to pay in full to prevent a lawsuit CAs have tens of thousands of accounts - and the SOL can pass and they do nothing - no way to make you pay.  If SOL is close to expiring then wait it out.

First step is a DV - make them prove the debt is legit, they have a right to collect it, are licensed to collect (if required in your state), etc.  If they can not validate they cannot collect on the debt or report it to the CRAs.

Also, you have more leverage on a PFD if the debt is past SOL - it is the only way that they 'can' get any money.

[Anonymous]

Lady_Scarlet,

If a collection agency is not licensed in my state (CO), does that mean they have to remove the account from my credit report?  Thanks!

[igdycsmG6]

Where in Ohio do you go to find out if they are liscenced? Is their a list of some sort?

[Anonymous]

ig,

Try this link: http://www.fair-debt-collection.com/attorney-general.html

[Anonymous]

Bump to see if I can get an answer to my last question!  Thanks!