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Need help upon receipt of Dunning letter?

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Anonymous
Not applicable

Need help upon receipt of Dunning letter?

Hello All,

 

I am in the process of obtaining a mortgage and just received a dunning letter from a CA on behalf of an old bank account.  I know I had the account but was fairly certain that when the account was closed that I had no outstanding debts to be taken from that account. 

 

Nothing has shown up on my Credit Reports as of yet.

 

How should I proceed? Should I DV right away so that the CA can't place anything on my reports until they validate or should I just pay the balance? Or should I do something else?

 

Any advice is greatly appreciated.

Message 1 of 3
2 REPLIES 2
llecs
Moderator Emeritus

Re: Need help upon receipt of Dunning letter?

I'd send a DV now.

Message 2 of 3
RobertEG
Legendary Contributor

Re: Need help upon receipt of Dunning letter?

You can certainly DV, thus preventing their reporting until they provide the requested debt validation, but that is not, in my opinion, your only or necessarily best option.

 

They can provide debt verification at any time, thus removing their cease collection bar and permitting immediate reporting of their collection to the CRAs,  So DV may be only a temp and fleeting way to block credit reporting.

 

Meanwhile, while their response to your DV is pending, you cannot negotiate anything with them, as they are precluded from any act that constitues collection on the debt.

So you go into limbo, with little needed at any time on their part to simply verify and report.

 

I would, if you have time remaining in your 30-day window to send a DV, make an initial call (not mail) to them, seeing if a pay for not reporting option is acceptable to them.

 

Additionally, if now 30 days past dunning notice, a DV would not invoke a cease collection bar.  What is the date of their dunning notice?

If immediate DV is necessary, then you might have no choice to use it for at least a temp bar.

 

Message 3 of 3
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