Quick Question About PFD

[Anonymous]

sorry...i did not mean for it to be taken that way

Message Edited by molly73 on 07-19-2008 06:40 PM

[Anonymous]

Hello molly73,

Please note that discussions pertaining to disputing accurate information in hopes of having it removed in order to improve your credit report/score is a violation of the TOS and Credit Repair Discussion Guidelines of this site.

Before posting anything further regardging credit repair, please take a moment to read this thread.

http://ficoforums.myfico.com/fico/board/message?board.id=Welcome&thread.id=21

Thank you for your understanding and cooperation.

-sidewinder

[Anonymous]

You can find SOL for your state here -

http://www.bankrate.com/brm/news/cc/20040116b2.asp

You are in one of the best states. TX requires them to respond to a DV at anytime you send it.

I would DV them. If they validate properly, I would offer a PFD. You can offer a percentage, some suggest offer PIF.

If you DV and they validate, then you send PFD, and they deny, I'd attempt another PFD pointing out the fact the accounts are past SOL and will be removed from your reports on XXXXX date, paid or unpaid. This worked for me. YMMV.

You can find a sample DV letter here -

http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&message.id=3710&query.id=3... 

Make sure to change it where needed to make it apply to you.

[Anonymous]

When you disput a any account good or bad....they will update the CR and this could hurt your scores.

I do not know any CCC that are reporting a CO that will accept a PFD.

If a CA has been assigned an account they must get an OK from the OC in order to accept a PFD AND  then if the OC is reporting they can continue to report until CRTP!

If a CA owns the account then they can accept a PFD or not. It is up to them.

Always send a DV to a CA  CMRRR  before thinking of a PFD!

An OC only has to answer the OC letter IF they verified a dispute with the CRA  not before.

[Anonymous]

thanks for the reply......see what i don't get is that i thought that if i disputed through the CRA.....that was making them prove that the debt was valid...but i guess that is wrong?

i know that i am supposed to send a DV certified.....but what is the amount of time they have to get back to me? I hear stories they blow off DV all the time...but I guess in TX they have to get back to you. So they have to get back to you with either it's verified or what.....it's not & they are taking it off the account?

I disputed an account with Midland....and they wrote back saying they are investigating the account.....and that if I had any information to show that this account is not mine (police reports) then to send it. This account is from 2003 (i never really looked at my credit until 2008 - i know..i know)....I thought it was their responsibility to prove to the CRA that the account is valid.....are there certain things they have to show that the debt is valid?

If I receive from the CRA that the account has not changed.....I can send a DV letter, right.....it's never too late to send that? Then proceed like you mentioned below.

Thanks again!!

Message Edited by molly73 on 07-19-2008 07:35 PM

[Anonymous]

hey sidewinder!

do you remember how you worded the part about the account being past SOL & will drop by so & so?

when you sent the 2nd request for PFD...did you send the same letter as the first one...but just added the SOL?

how many times should you ask for a PFD before you give up?

[Anonymous]

molly73 wrote:
thanks for the reply......see what i don't get is that i thought that if i disputed through the CRA.....that was making them prove that the debt was valid...but i guess that is wrong?

i know that i am supposed to send a DV certified.....but what is the amount of time they have to get back to me? I hear stories they blow off DV all the time...but I guess in TX they have to get back to you. So they have to get back to you with either it's verified or what.....it's not & they are taking it off the account?

Yes, TX is a good state to be in when it comes to this stuff.

I disputed an account with Midland....and they wrote back saying they are investigating the account.....and that if I had any information to show that this account is not mine (police reports) then to send it. This account is from 2003 (i never really looked at my credit until 2008 - i know..i know)....I thought it was their responsibility to prove to the CRA that the account is valid.....are there certain things they have to show that the debt is valid?

This is the trouble with disputing. If you dispute, the CA can ask you to provide information. If you DV, they can not. You put the burden of proof on them.

If I receive from the CRA that the account has not changed.....I can send a DV letter, right.....it's never too late to send that? Then proceed like you mentioned below.

Thanks again!!

Message Edited by molly73 on 07-19-2008 07:35 PM

You can DV a CA at anytime. FDCPA and TX state law is what allows for a DV.

However, those only apply to debt collectors.

An original creditor collecting their OWN debt, is not defined as a "debt collector" and is not bound by the FDCPA.

For original creditors, if you dispute through the CRA and they verify, then there is an "OC letter" you can send to them.

FDCPA states that DV requests are to be sent within 30 days of the initial communications, however TX laws state that you can request DV at anytime.

State law trumps.

[Anonymous]

---

molly73 wrote:
hey sidewinder!

do you remember how you worded the part about the account being past SOL & will drop by so & so?

when you sent the 2nd request for PFD...did you send the same letter as the first one...but just added the SOL?

how many times should you ask for a PFD before you give up?

---

I honestly did not believe I owed this debt.

So I just said something like:

"I've requested debt validation as allowed by law and was provided with a response letter, but it was not proper validation. I also made an offer to pay this debt in full in exchange for deletion from my credit report, even though I do not believe I owe the alledged debt. The debt is beyond SOL in my state and will be removed from my credit report in September, paid or unpaid, as it will be beyond credit reporting time period set by FCRA. Considering that you have violated FDCPA by not validating said debt and continued collection activities, and the fact that I do not believe I even owe this debt, I feel that I made a reasonable offer."

Or something along those lines. I dont have the email anymore.

[Anonymous]

thanks sidewinder!

i don't owe this debt....it says there is a foreclousure/repo for this account. i just sometimes want to come to some agreement with them and do what it takes to get it off....especially now that i am so neurotic about this stuff!


real fast......this is the thing that concerns me.....how do i know if what they sent me is enough for debt validation? what is the least amount of info they have to show me to prove it is correct? i have had one company get back to me and say "this debt is valid"...i was like WTH.....just seemed too easy on their part

also...since i am in TX...and say they do not respond to me within the 30 days....what are the next steps...what are my rights?
do they have to take it off then?
do i have to give them a 2nd chance with a 2nd DV letter

how many PFD before one should give up? how often do you send them?


Message Edited by molly73 on 07-19-2008 09:37 PM

Message Edited by molly73 on 07-19-2008 09:40 PM

[Anonymous]

http://www.occc.state.tx.us/pages/Legal/Laws/fcode/2005/ch392.html#c

Subchapter C  will likely answer a lot of your questions.

I sent a PFD by mail and waited a month, then sent one by email and waited a month, then I sent a PFD by email to 3 different email addresses. Each time the PFD was more strongly worded. There is no set amount of times you should try or how long you should wait.

IMO, allow them time to receive the letter, pass it off to whatever department, and respond.