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Any risk in DV letters?

caliness
New Visitor

Any risk in DV letters?

There are some CO accounts (over a year old) that are reporting in some CRAs. I have already exhausted my online disputes and they come back as already verified. I want to send out DV letters to the CAs (and perhaps the OC) as well as MOV letters to the CRAs, simultaneously.
 
(1) Is this a good strategy?
 
(2) I'm also concerned that the DV letters would somehow trigger the CAs to report the COs to all the other CRAs.
 
Any other suggestions would be appreciated.
Message 1 of 5
4 REPLIES 4
llecs
Moderator Emeritus

Re: Any risk in DV letters?



caliness wrote:
There are some CO accounts (over a year old) that are reporting in some CRAs. I have already exhausted my online disputes and they come back as already verified. I want to send out DV letters to the CAs (and perhaps the OC) as well as MOV letters to the CRAs, simultaneously.
 
(1) Is this a good strategy?
 
(2) I'm also concerned that the DV letters would somehow trigger the CAs to report the COs to all the other CRAs.
 
Any other suggestions would be appreciated.


Unless the account really isn't yours, and you could back that up, or the account is reporting all wrong, avoid disputing. There's a number of dangers in doing so.
 
If it isn't yours, send the MOV anyway.
 
Sending a DV won't influence the CA to tell the OC to report. I've never seen that happen. If you are referring to the possibility of a CA who may be reporting to EX and TU, but not EQ suddenly reporting to EQ because of the DV, well it's possible. Though, I haven't heard of that happening. It was much more likely to have happened during your dispute process.
 
Remember, if you DV, dispute, or PFD any account with a balance, expect a dramatic increase in collection activity. This is something to consider if you are within SOL. One of the dangers with disputing is you let the CA know that you are around, you gave them a current address to reach you at, and you possibly gave them a phone number. The CRA provides that info to the CA based on the info found in your CR.
Message 2 of 5
Moderator Emeritus

Re: Any risk in DV letters?


 

caliness wrote:
There are some CO accounts (over a year old) that are reporting in some CRAs. I have already exhausted my online disputes and they come back as already verified. I want to send out DV letters to the CAs (and perhaps the OC) as well as MOV letters to the CRAs, simultaneously.
 
(1) Is this a good strategy?
 
(2) I'm also concerned that the DV letters would somehow trigger the CAs to report the COs to all the other CRAs.
 
Yes, this has happened. More than once. Personally happened to me. Sometimes when you DV and they are only reporting to 1 or 2 of the CRAs, when they update the accounts as in dispute, they will report to the others. I wonder if maybe they didn't report to the others at the time of last reporting your debt, and since have started, if maybe this is why they do it. I also read somewhere they use it a strategy to hurt you further for DV'ing. I read that on another forum and supposedly an ex-employee of one of the larger CA's is who was writing it. I am not sure I believe it, but.........who knows.
 
Any other suggestions would be appreciated.


 


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Message 3 of 5
llecs
Moderator Emeritus

Re: Any risk in DV letters?



sidewinder wrote:

 

caliness wrote:
There are some CO accounts (over a year old) that are reporting in some CRAs. I have already exhausted my online disputes and they come back as already verified. I want to send out DV letters to the CAs (and perhaps the OC) as well as MOV letters to the CRAs, simultaneously.
 
(1) Is this a good strategy?
 
(2) I'm also concerned that the DV letters would somehow trigger the CAs to report the COs to all the other CRAs.
 
Yes, this has happened. More than once. Personally happened to me. Sometimes when you DV and they are only reporting to 1 or 2 of the CRAs, when they update the accounts as in dispute, they will report to the others. I wonder if maybe they didn't report to the others at the time of last reporting your debt, and since have started, if maybe this is why they do it. I also read somewhere they use it a strategy to hurt you further for DV'ing. I read that on another forum and supposedly an ex-employee of one of the larger CA's is who was writing it. I am not sure I believe it, but.........who knows.
 
Any other suggestions would be appreciated.


 




Ouch!
 

 
Message 4 of 5
Jesedmotherof5
Established Contributor

Re: Any risk in DV letters?

Happened to me the other day with calvary protfolio
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Message 5 of 5
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