Hey everyone, got a a couple collections that recently pop up on my reports about 24 hours after submitting a pre approval app for a mortgage. What a coincidence right?
Anywho, looking for some guidance here. The alleged original loan was CASHNETUSA. They sold it to Universal Holding Group. I received a pdf letter by email from CACi saying they are collecting on behalf of UHG.
I have not initiated any DV letters or even reached out to them yet. To be honest, I don't recognize if the payday loan is valid. It was during a time in my life when I was foolish and took these loans out very frequently from multiple payday loan services. Lesson learned, believe me.
What's peculiar about the letter is it states, "The law limits how long you can be sued on a debt. Because of the age of your debt, we will not sue you for it, and we will not report it to any credit reporting agency." Well, that obviously was a lie because they reported me!
Hoping for advice on what to do next? Should I send DV? It seems to be time barred and over my states (CA) SOL. Should I not poke the bear? I would like to see it removed as I'm hoping to purchase a home this year sometime. Should I offer a PFD if they do validate the debt?
Lastly this might be a long shot but, do I have any legal recourse with a possible FDCPA violation against them for lying about not reporting me?
Onto the derogatory from Oliphant USA. This too popped up the day after my mortgage application but only on Transunion. Interesting thing about this one is it's set to fall off 11/2023 per my credit report. Am I safe to assume I can ask TU for an early exclusion exception at the 6 month mark (May) or would that debt need to be paid before that is even an option? Should I just ride it out till it falls off naturally or inquire about a PFD of some sort? Again, I don't want to reset SOL, but am willing to pay to have it removed asap.
Again, thank you much for this amazing site and resource. The fact that I am able to even think about a mortgage at this point of my life is because of the good info I've found at this community in the past. Really hoping to get some guidance, hopefully, for the last time! Thank you all.
