@Anonymous wrote:I say that because...if you know the debt is yours...why bother with the DVs...you have 30 days with the new CA...and if you pay...for them not to report...they will never report...then you can dispute the one on your report...But...if you DV them...you have to give them 30 days to validate...and then they probably are going to report...yeah they are not supposed report...while validating...but I have had MANY CAs...violate by reporting during validation...then you have to go to...filing disputes....and go to the BBB....and all that stuff...while in the meantime you would have a new collection on your reports...I respect and understand what Wonderin is saying...but I was just saying what I would do...if I were in your case...now you have to take all this info in...and figure out what will work for you...we are all here with a common goal...TO HELP...
Sly, I suggested what I did so if the OP decides to pay this debt, s/he will more than likely end up paying the right one. I don't know if you remember what happened to JShidell, but he ended up paying TWO CAs for the same debt!! And if he had known better (since I think he, like me and DH, started fixing his credit before he came here and didn't know all the facts), and DVed them both, he would have found out that only ONE could legally collect and he could have told the other to go pound sand.
As it is, he's out THOUSANDS of dollars!
I just think DVing would have the advantage in two ways: 1) The OP would know WHO to pay and 2) if neither CAs can validate, s/he would be off the hook! At least, until they COULD verify.
As for a new collection showing up on his/her CRs, if the OP DVs them both, they legally can't report until after they validate. So really, there's an advantage there, too.
Finally, I'm fairly sure that the "New CA" has to give the OP roughly 30+ days to request validation before they can report the debt. That's my understanding, at least.
@Anonymous wrote:Boy o my head hurtsI have a few options if i understand. And of course more questions1. pay Enhanced recovery if they agree no to report it (or since it isn't reported they automatically won't-right?) and then dv midland (or should i go ahead and dv midland?)2. who do i dv the cra or collectors?3. Pay no one and dv both - this is risky because it could cause enhanced recovery to report it-right?4. either way midland has no right to reporting this because they don't own it anymore-right?5. I might be able to scrape up the money but after figuring my budget (with school starting back) it would be way close. Is there any way to settle with enhanced recovery in a couple of payments and still get not have them decide to report it?
I'd still DV them both. They're not allowed to report until they HAVE validated, so you should have more time to come up with PIF, if you should decide to PFD.
True, Midland can't legally (or so it seems) collect OR report the debt if it's been transferred/reassigned/sold, but that doesn't mean they'll STOP. DVing them will make the legal holder of the debt clear so you'll know who to pay. Otherwise, what's to stop Midland from claiming that THEY owe the debt?
My (convoluted) thinking is this: Let's say that you go ahead and pay Enhanced. Now, who's to say that they can legally collect this debt? It may be that Midland still retains the legal right, not Enhanced. If that's the case, you're out the money -- at least, until you can hire a consumer lawyer and sue the "false" CA for reimbursement.
As my hubby likes to quote (from a really crappy movie he watched YEARS ago) "**Bleep** you, pay me." THAT'S going to be BOTH CAs' reaction when you tell one that you paid the other. Midland won't care if you paid Enhanced, Enhanced won't care if you paid Midland. Both will assume that they own the debt (unless you FORCE them to recheck their data) and will tell you to sue the other guy to get your money back.
See what I mean??
EDIT: Whoops! Wasn't a "crappy movie" -- it was Goodfellas!! Yikes!!
Message Edited by Wonderin on 08-02-2008 09:12 PM