DV Process Question

[Anonymous]

Greetings Everyone,

I have a question concerning the DV process. If I send a DV to a CA after the initial 30-day period, do they have to stop all collection activity until they validate? Also, until the validate if I dispute the TL on my CR, are they allowed to validate with the CRA? or would this be considered collection activity.

Would it be a valid plan to DV my old debts with the CA, and since its past the 30-day period they will probably be in no hurry to validate. During that time frame dispute the TL with CRA and since I assume they cant verify the TL without validating my DV first, the TL would have to be removed. Next step would be if they validate my DV, try to PFD or NDA the account, and then once it settled dispute the TL again with the CRA.

Also if I send a cease & desist letter to the CA, are they likely going to send the account back to the OC? If so, what benefit is that to me? Is it easier to deal with CA rather then the OC? This is all concerning CO accounts withing the SOL..

Thanks in advance for any help and info

[Shogun]

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@Anonymous wrote:

Greetings Everyone,

I have a question concerning the DV process. If I send a DV to a CA after the initial 30-day period, do they have to stop all collection activity until they validate? Also, until the validate if I dispute the TL on my CR, are they allowed to validate with the CRA? or would this be considered collection activity.

Would it be a valid plan to DV my old debts with the CA, and since its past the 30-day period they will probably be in no hurry to validate. During that time frame dispute the TL with CRA and since I assume they cant verify the TL without validating my DV first, the TL would have to be removed. Next step would be if they validate my DV, try to PFD or NDA the account, and then once it settled dispute the TL again with the CRA.

Also if I send a cease & desist letter to the CA, are they likely going to send the account back to the OC? If so, what benefit is that to me? Is it easier to deal with CA rather then the OC? This is all concerning CO accounts withing the SOL..

Thanks in advance for any help and info

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If you send a DV outside the 30 day period they are not barred from any collection activity due to the fact it was not timely.

 If you dispute and DV some call this the 1-2 punch.  No it will not work.

 Yes, definitely try for a PFD.

If you send a cease and desist letter while the account is within the SOL of your state, you give them no other option but to sue you for the amount.

Whenever possible, deal with the OC, if possible, ask if they will recall the account from the CA.  Sometimes they can, sometimes they can't.

Only dispute if you have a valid reason, disputes can cause problems, such as disputes, split files, etc.

Good Luck!

[Anonymous]

Thanks for the reply!

So any reason to DV outside of the 30 day period? Will most CA just drag their feet & not respond? Is it a better use of time to just try to PFD the acounts outside of the 30 day period?

[Shogun]

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@Anonymous wrote:

Thanks for the reply!

So any reason to DV outside of the 30 day period? Will most CA just drag their feet & not respond? Is it a better use of time to just try to PFD the acounts outside of the 30 day period?

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Some will tell you that if the DV is not timely it's a waste of time.  I disagree with that.  The DV is too powerful a tool to leave in the shed.  Send it.  See what they have on you.  It lets them know that you know what you're doing. 

[Anonymous]

An untimely DV give the CA a year to respond right? You would suggest to do it anyway and just wait the year? I understand that credit repair is a long term process, but my goal is to use my VA loan garuntee for a mortgage in 6 months. Ive got about 10 negative TLs on my CRs, most are CAs, most are outside the 30 day initial period.. I want to handle some within this 6 month period to try and get the mortgage. I'm at about 530 now. 

Is this too ambitious to do the credit repair effectively? If I DV and wait the year for most accounts, my goal want be possible.

[Shogun]

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@Anonymous wrote:

An untimely DV give the CA a year to respond right? You would suggest to do it anyway and just wait the year? I understand that credit repair is a long term process, but my goal is to use my VA loan garuntee for a mortgage in 6 months. Ive got about 10 negative TLs on my CRs, most are CAs, most are outside the 30 day initial period.. I want to handle some within this 6 month period to try and get the mortgage. I'm at about 530 now. 

Is this too ambitious to do the credit repair effectively? If I DV and wait the year for most accounts, my goal want be possible.

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An untimely DV does not have to be answered at all.  But almost all will answer anyway.  It opens an avenue of communication.

I started in Nov. of 2010 and had more than 10 negatives and was lower than 530.  Was apping in July of 2011.  So can it be done in this timeframe?   Oh yeah!

[Anonymous]

That's encouraging to hear

Since the CAs haven't sent me anything via certified mail, could I deny ever receiving their initial communication, and say I discovered the debts for first time by checking my CR thus invoking a new 30 day period with my DV?

I've never spoken, communicated, or acknowledged the existence of any of the CAs,

[Shogun]

You could say anything, but probably wouldn't work.  Just send them the DV now. 

Do you know how old the accounts are?  Do you know your states SOL?  These are more tools to your advantage.