new home purchase

[Anonymous]

Sorry for all the confusion.

-The OC (reported but was deleted) transferred the account to CA #1 (also reported and deleted)

-CA #1 transferred the account to CA #2 who we didn't even know existed

-Now the account is with CA #3 from who we got the notice

Neither CA #2 or CA #3 have reported so his credit file is currently clear. My goal is to not have CA #3 report. I'm a little scared to contact them because I feel like as soon as we respond they'll report. Do you think trying a debt validation is worth it? For one, the account has clearly been transferred multiple times so maybe they won't be able to validate it. Second, I know I have 30 days to request validation and then they have 30 days to validate...that would hopefully keep us clear through the end of September. Our closing is supposed to be anytime in October. The original debt was 2008.

Thank you all...I didn't realize I'd get so many responses in one day!

[Anonymous]

Also like I originally said, my husband doesn't really recall what happened with the account so who knows what would happen with validation. Then I guess the next question is what to do if they do validate. Then I would attempt a pay to delete.

[myjourney]

---

@Anonymous wrote:

Sorry for all the confusion.

-The OC (reported but was deleted) transferred the account to CA #1 (also reported and deleted)

-CA #1 transferred the account to CA #2 who we didn't even know existed

-Now the account is with CA #3 from who we got the notice

Neither CA #2 or CA #3 have reported so his credit file is currently clear. My goal is to not have CA #3 report. I'm a little scared to contact them because I feel like as soon as we respond they'll report. Do you think trying a debt validation is worth it? For one, the account has clearly been transferred multiple times so maybe they won't be able to validate it. Second, I know I have 30 days to request validation and then they have 30 days to validate...that would hopefully keep us clear through the end of September. Our closing is supposed to be anytime in October. The original debt was 2008.

Thank you all...I didn't realize I'd get so many responses in one day!

---

I see you got all your answers.....great 

Wishing you the best

[Anonymous]

---

@Anonymous wrote:

Sorry for all the confusion.

-The OC (reported but was deleted) transferred the account to CA #1 (also reported and deleted)

-CA #1 transferred the account to CA #2 who we didn't even know existed

-Now the account is with CA #3 from who we got the notice

Neither CA #2 or CA #3 have reported so his credit file is currently clear. My goal is to not have CA #3 report. I'm a little scared to contact them because I feel like as soon as we respond they'll report. Do you think trying a debt validation is worth it? For one, the account has clearly been transferred multiple times so maybe they won't be able to validate it. Second, I know I have 30 days to request validation and then they have 30 days to validate...that would hopefully keep us clear through the end of September. Our closing is supposed to be anytime in October. The original debt was 2008.

Thank you all...I didn't realize I'd get so many responses in one day!

---

Send the DV.  You do have 30 days to send it upon receipt of the dunning notice.  They, on the other hand do not have to respond in 30 days.  They never have to.  Once they receive it they have to cease collection activity until they do.  If they did, I would offer them a pay for not reporting.

[Anonymous]

So I could send a DV letter and possibly never hear about it again?

[Anonymous]

It is possible.  Once they receive the DV they cannot report it to the CRAs.  If they don't validate they cannot send you dunning notices, call you etc,

The debt could also just be sent back to the OC and another CA pop up.

[Anonymous]

Thank you again for the advice and prompt replies! I'll update this forum with any progress!

[Anonymous]

Hi all,

So we got a response to the DV letter. All it included was the original finance agreement from the OC and a document stating the debt was being sold from the OC to CA #1. There was no documentation as to how the debt got to CA #3 nor was there any support of the balance they are attempting to collect. Any suggestions? The letter provided with the documents stated that under the Fair Isaacs Credit Act they didn't need to provide bills (I didn't ask for bills, asked for support on the amount). Should I respond requesting more details?

Thanks!

[Shogun]

---

@Anonymous wrote:
Hi all,

So we got a response to the DV letter. All it included was the original finance agreement from the OC and a document stating the debt was being sold from the OC to CA #1. There was no documentation as to how the debt got to CA #3 nor was there any support of the balance they are attempting to collect. Any suggestions? The letter provided with the documents stated that under the Fair Isaacs Credit Act they didn't need to provide bills (I didn't ask for bills, asked for support on the amount). Should I respond requesting more details?

Thanks!

---

I think there's some confusion.  First, there's no Fair Isaac's Credit Act, there's the FCRA.    For a DV they must provide the amount of the debt and the OC's name if requested.  That's about it.  They do not have to supply anything else.

If you agree with the debt, then you can try for a PFD.

[Anonymous]

I had a feeling my terminology was incorrect 😊. Don't they have to show proof that they own the debt? Otherwise why would we submit payment to them? Also, if we know we owe something but just not sure how much, don't they have to provide how they calculated the amount they are attempting to collect? My husband knows he defaulted at some point during the loan but he isn't sure what the remaining balance at the time was.