What should I do?

[Anonymous]

Entry:
AC Autopay
Date opened: 10/29/2011
Pay status: In collection
Account type: Installment account
Loan type: Automobile
Payment received: $0
Last payment made: 07/02/2013
Date closed: 08/31/2014

This was for a vehicle that they refused to repossess because it wasn't worth nearly what I owed. The account history looks weird because 12/2014 it says past due is $12,286 and balance is same, then 08/2015 past due is $10,645 and balance is $15,795. Any ideas on how I should dispute? Should I ask AC Autopay for verification and offer PFD? How much do I offer, if so?

[Anonymous]

When was the DoFD (Date of First Delinquency)? You'll find the DoFD on your EQ report and the estimated date of removal on your TU and EX reports. This is not on the reports you get from monitoring sites. Or you can call the bureaus and ask them what the DoFD is.

[RobertEG]

What derogs have been reported by the OC?

Has the debt collector reported a collection?

Debt validation is only made to a debt collector, not the creditor.

Do you have the name and contact adresss of a debt collector?

If there are any inaccuracies in reporting, then you can certainly file a dispute and get them corrected.

However, inaccuracies in amounts can simply be corrected, and will not mandate deletion of other reporting, such as the derogs.

It is the derogs that are affectin scoring, and their removal can be attempted by offering a PFD.

The higher percentage of the debt that is offered, the higher the chances usually are of acceptance.

[Anonymous]

Not on my EQ report at all. I'm guessing that it's an in house collection at AC Autopay. There's no CA listed. Just says the account is in collection status. Derogs (lots) from 30-120 from 7/2013 - 3/2014.  

[RonM21]

OP,.you also mentioned pay for delete, but then asked how much to offer. That would be a settlement, just in case you weren't clear on that, and they usually will not delete for it. Normally a PFD consists of the entire balance.

[RobertEG]

The statement of the balances is separate from the issue of the accuracy of any reproted delinquencies.

You can pursue correction of any asserted inaccuracies in balances, but that wiill not affect the continued showing of the derogs, which are what is affecting your credit score.

In your position, I would not pursue a formal dispute over the accuracy of the reported balance amounts until you have first attempted to obtain a PFD agreement with the creditor.  As part of your negotiation on the amount of any settlement, you can raise your questions as to the actual amount of the debt.

Their potential grant of a PFD is a form of good-will on their part, and by first filing a dispute, you may be affecting their potential good will.

[Anonymous]

Also, with a balance that large, I would be worried about a judgement being filed.