Collection Help needed!!!

[UpAndComing74]

Hollywood Video as a $65 charge on my CR from 2005.  I contacted them and they stated that the store has since been closed and they have no access to the records, they cannot verify the account.  They advised me that the only way they feel that it is my account is legit is because I haven't contacted them prior to today.  I think that's horrible.  What can I do to get this thing rmoved? They refuse to PFD or GoodWill adjustment.  They want me to settle and  then they would update the tradeline asd mark the report as paid in full or settled.  I heard this would hurt my score also.  I'm lost as to what to do!!!! Any advice or hints would be most appreciated!!!                         

[RobertEG]

Simply file a dspute with the CRA under FCRA 611(a).  They have the obligation to verify, and the fact that you have not disputed earlier is, I agree with you, irrelevant.

How  you address the dispute is kinda unclear to me.  Did the OC ever post to your CR, or was it only a collection agency?

What are you disputing, an OC post or reporting by a CA?

Message Edited by RobertEG on 02-04-2010 05:50 PM

[UpAndComing74]

thanks for the reply.  there is no ca just OC. according to hollywodd video corporate they have an in house collection group. the big picture is i need a 3 pt boost on my mid fico by 02/16..ive already reduced my util from 92% to 61%. if that does it..i wont worry bout hollywood video. but i just wanna be sure and get my 3 points for house mortgage..

[RobertEG]

I dont want to alarm you, but if the OC still claims a valid debt against you that is unpaid, they can at any time post it as a charge off of the debt, or place it into collection.  Either will be an instant hit on your credit score of around -20 points.

You can fight the legitimacy of the debt,but that takes time to resolve.

The last thing your mortgage officer wants to see is an unpaid debt.

If I were you, I would just pay them their lousy $65, and thus show the debt as paid, and foreclose any chance of a CO or CA by them.

But that, obviously, is a personal choice.

Unless you mis-typed, you dont plan to apply for a mortgage until 2016? Any derog posted by the OC will expire 7 years from the date of delinquency, which apparently was back in 2005.  So it will die of natural causes on 2012, paid or not.

Message Edited by RobertEG on 02-04-2010 07:27 PM

[UpAndComing74]

yeah ure right..I spend  65 at the bar...I'm just scared that paying them will update the record and cause the score to drop...we're gonna pull credit feb 16..in 12 days...just lookin for 3 pts!!!!

[RobertEG]

Dont worry about updating of the DOFD.  It is what it is.  It cannot be updated (at least, not legally)

If they ever do "re-age" your DOFD, and you pass the 7 1/2 years from the true DOFD, just come back here, and we will offer you a tirade of ways to set them straight!

Just document your DOFD, and all is well in tinsel town!

If this drops, you will gain much more than 3 points.

Message Edited by RobertEG on 02-04-2010 08:29 PM