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Another Charge off and credit clean up Question

New Member

Another Charge off and credit clean up Question

My DH and I are trying to get an FHA mortgage and we were advised to do it in his name only for now because I have a lot of student loans (just finished my masters) but am a stay at home mom for now. Anyway, we pulled his credit report and he had two CC charge offs from like 7 years ago. The SOL where we live is only 3 years, but since the account was sold to another creditor and then another, the same CO's are listed 3 times with 3 different amounts. Why is this? Do we try to pay off the original creditor? How do we get all three listings removed for each account when we pay it off? We aren't really sure what to do because we have tried working with these two creditors in the past to get it cleared up and were unable to get anywhere with them and we were told we are unable to get a loan at this time because of it. The lender told us his FICO score was 629. My three credit scores are TU 657, EQ 607, and EX 639. I have one really old CO of my own (also abt. 7 years old), some hospital bills, and of course my debt to income is crazy due to 0 income and abt. 80k in student loans. Any advice would be greatly appreciated! Thanks!
Message 1 of 2
Moderator Emeritus

Re: Another Charge off and credit clean up Question

You need to look at all 3 CRs   see when the COs drop......the drop date goes by DOFD!!!
If you can't find them call the CRAs and ask!
All COs drop 7-7.5 years from DOFD.........The CAs should also drop at the same time!
Send the CAs a DV letter  CMRRR     do not dispute the OC  until you know what the DOFD is.
make all changes needed.
CERTIFIED MAIL #: _______________________________________________________
Your Name
Your Address
YourTown,, State ZipCode

Debt Collection Company Name
Their address
Town, State ZipCode


Re: Debt Collection Company Name; Acct # Debt Collection Company #; Original Creditor Name; OC Acct #

To Whom It May Concern:
This letter is being sent to you in response to a notice sent to me on DATE. Be advised that this is a notice sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (b) that your claim is disputed and validation is requested.
This is NOT a request for “verification” or proof of my mailing address, but a request for FULL MEDIA VALIDATION made pursuant to the above named Title and Section. I respectfully request that your offices provide me with competent evidence that (a) the account is valid, (b) the amount allegedly owed is accurate, and (c) I have a contractual obligation to pay Debt Collection Company Name for this alleged debt.
All of the following MUST be provided to adequately validate the authenticity of the alleged debt AND provide proof of my contractual obligation to Debt Collection Company Name for this alleged debt:
• Signed credit application between myself and the original creditor
• Copies of all signed vouchers from the date account was opened until default
• Copies of all statements from the date account opened until default
• Proof of the statute of limitations
• Proof of agreement that you were hired by the Original creditor (creditor as defined by the FDCPA) or
• A copy of the contract Debt Collection Company Name purchased the alleged debt.
• If the alleged debt was purchased, provide a copy of an agreement between Debt Collection Company Name and myself, signed by me, stating that I have a contractual responsibility to Debt Collection Company Name for the alleged debt
• Provide proof that Debt Collection Company Name is bonded/Licensed for debt collecting in the State of Your State
Be advised that failing to provide ALL of the media requested to validate the alleged debt will invalidate any and all claims Debt Collection Company Name is asserting regarding this alleged debt. If Debt Collection Company Name can NOT provide all of the validation media requested above, ALL collection efforts MUST be stopped and the account MUST be DELETED from the Debt Collection Company Name. If you can NOT validate your claim, you can NOT, by law, collect on it, or SELL it to another collection agency. Also, reporting a debt to the credit reporting agencies that can not be validated is a violation of the FCRA (Fair Credit Reporting Act), and carries a $2500 fine to be paid to me. I have two years to decide if I want to pursue this matter. PLEASE GIVE THIS MATTER THE ATTENTION IT DESERVES.
If your offices are able to provide all of the validating media as requested, I will require at least 30 days to investigate this information, and during such time, all collection activity must cease and desist.
I am also stating, in writing, that no telephone contact be made by your offices. If your offices attempt telephone communication with me, including but not limited to computer generated calls and calls or correspondence sent to or with any third parties, it will be considered harassment, and I will have no choice but to file suit. All future communications with me MUST be done in writing and sent to the address noted in this letter by United States Postal Service.

Best Regards,

Your Name TYPED    do not sign!
Message 2 of 2
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