Do I Pay Old ass collection that is using sketchy math?

[dls80]

We need our credit profile to be blemish free. Hubbs has a few collection CO'd back in 2009/2010. One had a serious descrepency from the beginning. I believe they merged his account with someone else's when the account was acquired by a new bank (account was alive & well at the time). How do we handle this?? Do we attempt PFD on nearly 7 year old co? Do we just DV? We do have a goal of 7 months to "fix" things up. What would you do?

Thanks

[diva_1515]

Have you tried the verification process yet? 

I always make the creditor confirm my account information and what I owe before I pay. If your account info is merged you want that sorted out first. 

[creditguy]

You are approaching a drop off date if it's from 2009 so that may be your best option. But if you believe there is discrepancies than you need to dispute this item and see where this leads you. I wouldn't attempt a PFD until you go through a dispute process. If it comes down to PFD, just play it cool and use time as your leverage, let them know the debt is soon to disappear from your reports thanks to time and your more than willing to let it run it's natural course if they don't cooperate. Good Luck I hope you get positive resolution. 

[RobertEG]

If you need your reports to be blemish free prior to the normal credit report exclusion period, it is likely getting too late to avail yourself of the DV process for the collections.

Assuming it has been more than 30 days since they sent dunning notice, a DV at this point would not be timely.

\it would thus invoke no cease collection bar, and provide little or no incentive for the debt collector to send validation.

As for a dispute, unlike a DV, a dispute must provide a clear showing of some specific inaccuracy in their reporting.  A mere assertion of debt not mine is not adequate.

Do you have factual documentation to support your assertion that they merged his debt with that of another?  And if so, the furnisher is required to investigate and make a determination. They are not required to "prove" the accuracy in order to verify.

A finding as to legitimacy of the debt may likely require civil action in order to resolve.

[Anonymous]

How close is the this questionable charge off to the exclusion time?

[dls80]

Will start my process this weekend. Just not sure the best approach. DV first is making the most sense. Do I DV original creditors AND collection agency?

[dls80]

Since the des repent starts with original creditor, do I use time as my leverage for both them and the collection agency?

[dls80]

*discrepancy

[dls80]

If you need your reports to be blemish free prior to the {normal credit report exclusion period} --is that the expected drop off date?

, it is likely getting too late to avail yourself of the DV process for the collections.
Assuming it has been more than 30 days since they sent dunning notice, a DV at this point would not be timely.--- I haven't began any process yet


\it would thus invoke no cease collection bar, and provide little or no incentive for the debt collector to send validation.---- I don't understand

As for a dispute, unlike a DV, a dispute must provide a clear showing of some specific inaccuracy in their reporting. A mere assertion of debt not mine is not adequate.
Do you have factual documentation to support your assertion that they merged his debt with that of another? ---I don't have any documentation. This account has been closed for nearly 7 years

And if so, the furnisher is required to investigate and make a determination. They are not required to "prove" the accuracy in order to verify.
A finding as to legitimacy of the debt may likely require civil action in order to resolve.-Thanks

[gdale6]

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@dls80 wrote:
Will start my process this weekend. Just not sure the best approach. DV first is making the most sense. Do I DV original creditors AND collection agency?

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A DV is only used on CAs and JDBs never an OC. http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Debt-Validation/td-p/7133