To DV or not to DV...that is the question

[Anonymous]

Hello all! I stupidly signed up with a "credit restoration" company in September and they sent a DV letter to a CA the CA validated/verified but the "credit restoration" company did not follow up or let me know there was a procudure to go through. I fired them in November due to no help from them. My question is how should I proceed. DV the CA myself? PFD?  Palisades Collection - Date Opened 11/2004 DOLA 9/2007 (when DV). Its $729.  Oh yeah on my EX CR it says "account is scheduled to continue on record until April 2008."  The SOL for my state is 7 years (Indiana). Thanks!

[Anonymous]

Just me, but if the account is scheduled to come off your reports in April 2008 I'd just leave it alone and let it fall off in 1-2 months!

[Anonymous]

It is about to come off your record, so I would wait until then.  But you are NOT in the clear; they are still within SOL to sue, so tread carefully

[Anonymous]

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justmkc wrote:

Hello all! I stupidly signed up with a "credit restoration" company in September and they sent a DV letter to a CA the CA validated/verified but the "credit restoration" company did not follow up or let me know there was a procudure to go through. I fired them in November due to no help from them. My question is how should I proceed. DV the CA myself? PFD?  Palisades Collection - Date Opened 11/2004 DOLA 9/2007 (when DV). Its $729.  Oh yeah on my EX CR it says "account is scheduled to continue on record until April 2008."  The SOL for my state is 7 years (Indiana). Thanks!

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Did you actually make payments to this CA through your "credit restoration" company in September or just DV?

If it is due to fall off April 2008, that means DOFD should have been around April 2001.

Do you have everything they sent during the DV?

You say SOL is 7 years, are you confusing SOL with CRTP?

Bankrate shows SOL for Indiana being

Written/Promissary: 10

Oral/Open: 6

If this is true, the SOL could already be up(unless you reset) or could have 3 more years or so, depending on the type of debt.

Need to determine SOL and if it has been reset for certain before properly advising.

[Anonymous]

No I did  not make payments through "credit restoration".

 I didn't get anything after the DV

CRTP????? (I couldn't find this one)

The debt is from a cell Phone bill formerly GTE.

Did I possilby reset the SOL by the DV?

As of right now I think I'll just let it fall off.

Thanks all for your input

[Anonymous]

DV does NOT re-set SOL.  SOL can only be re-set with a payment to the OC (changing their DOLA but not the DOFD) or an acknowledgement of the debt (may be either verbal or written) or a 'promise to pay' -either verbal or written.  This is why in any correspondence you "dispute the validity of the debt"  -- to preserve your SOL.

DOFD is set by the OC - and SHOULD NOT CHANGE even if the account is assigned/sold to a CA.  Even paying a CA doesn't re-set SOL as far as I know - the CAs want you to think it can, but SOL is based on the DOLA (or DOFD after which you never became current in some states) with the OC, not a CA.  Most courts will uphold that static date unless you do something to change it.  It is NOT to be a moving target (this was in a MD case that I read and also general SOL principle). 

Tolling is the only exception to the SOL changing and if someone is trying to sue and you claim an SOL defense and they are claiming it was tolled, they have to prove how it was tolled.

"Law" lesson of the day....

Message Edited by Lady_Scarlet on 02-29-2008 09:31 AM