THE PROCESS.....

[T50]

Ok so anyone that could tell me if they think that this would work or not.  I have made contact with ALL of my OC's that I have reporting on my CR that have been turned over to CA.  My plan that I was hoping was that I was going to pay the OC then DV with the CA.  My thoughts were that if I pay the debt to the OC then when I DV with the CA they will have no info to verify and have to delete that trade line from my CR.  Does this sound like a plan that might work?  I have been speaking with them as well to see if they will "pull it back" from the CA.  But if they say they cannot do that...  Does anyone out there think that this plan would work?  Paying OC then DV with CA and them not having anything to stand on because it's already been paid?  Let me know your input please!!  Thanks for your time and your posts!!!

[guiness56]

It may or may not work.  Reason being, when you pay the OC all they have to do is let the CA know you paid and have them update to a paid status.  It does not mean the CAs have to remove the account or can't validate.

[RobertEG]

It wont work.

First, once you pay the OC, there is no longer a debt due, and thus no debt to verify, other than that it is now $0.

Second, unless you live in Texas, there is no requirement for a debt collector to even respond to your DV letter. 

Third, once the debt collector is advised of the payment to the OC, they have to do only two things.  They must cease collection activities, and update the balance under their CA account to $0.  They dont have to delete the CA.

Fourth, even if the debt collector does respond to your DV (which I find unlikely), all they would have to do is to verify that the debt is paid, and is now $0.  That is precise and accurate verification.

Fifth, termiation of collection authority by the OC does not terminate any prior, accurate reporting done by the debt collector while they still had legitimate collection authority.  The OC has no authority to "pull back" credit reporting done by a debt collector.  All the OC can "pull back" is their authorization of further collection activity.

It a game that does not recognize the rules.

[T50]

So then what is the best step to take?  I have spoken with the OC and some of them said they will pull the account back from CA (which to me means that CA can no longer report on my CR).  Is that a good assumption?  Or should I try to get OC to PFD?  Please any help in getting these 5 negative Collections off my credit could be the difference between me getting approved for a mortgage or not....  Thanks for all of your time and advice!!!  Going to move forward with this again on wednesday of this coming week trying to get all my ducks in a row before then....

[tntexans72]

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@T50 wrote:

So then what is the best step to take?  I have spoken with the OC and some of them said they will pull the account back from CA (which to me means that CA can no longer report on my CR).  Is that a good assumption?  Or should I try to get OC to PFD?  Please any help in getting these 5 negative Collections off my credit could be the difference between me getting approved for a mortgage or not....  Thanks for all of your time and advice!!!  Going to move forward with this again on wednesday of this coming week trying to get all my ducks in a row before then....

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Good luck as I am in the same boat. I have 1 CO and I am exploring ways to get it off my report. Was thinking exactly what you were thinking and that was to go directly with the OC than the CA. I think for the CO to be deleted off your CR, the OC and CA would have to be on the same page and both would have to agree to have the CO deleted once the CO is settled...is my only assumption. To get the OC and CA on the same page is another battle that would be near impossible, IMHO.

Please keep us updated.........

[MarineVietVet]

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@tntexans72 wrote:

 Good luck as I am in the same boat. I have 1 CO and I am exploring ways to get it off my report. Was thinking exactly what you were thinking and that was to go directly with the OC than the CA. I think for the CO to be deleted off your CR, the OC and CA would have to be on the same page and both would have to agree to have the CO deleted once the CO is settled...is my only assumption. To get the OC and CA on the same page is another battle that would be near impossible, IMHO.

Please keep us updated.........

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I want to make sure I understand what you are saying. By "CO" you mean "charge off" correct? If so then a CA has nothing to do with that. A CO (charge off) is only associated with an OC and never a CA.

If an overdue account is ever placed for a collection that is a new and separate entry and only then does a CA gets involved. But a CA never has authority to do anything about a CO.

The terms charge off and collection have two separate meanings. A CO can only be removed by an OC.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".