I was reading the blog about “debt validation” and the part about the “30 days” is what I have a question about. 

I pulled my credit report this month to look it over and was suprised to see two accounts that just showed up in the past two months. 

I want to send a “validation of debt” letter, however, since the time it was reported it has been more than 30 days. 

I researched and called one of the C.A. and was told that a letter was sent but as it turns out to a old address of mine. 

I am not sure if I have some rights left to dispute this or not.

Dee (more…)

I’m new to the site and appreciate all of the information.  After too many years of burying my head in the sand I am ready to take on the collection accounts and charge off’s that have dogged me. 

I have two questions for you. 

My wife and I sold our home in March 2006.  The transaction was coordinated through a relocation company from my employer.  Our mortgage was through Chase Manhattan.  Currently, all 3 CRA’s reflect a $0 balance and indicate the loan was closed May 2006. 

Out of the blue, I received a letter today from a CA indicating they represent Chase Manhattan and that I defaulted on this loan in the amount of $1132.  I have to believe this is incorrect.  I wouldn’t have been able to close on the home unless my mortgage had been satisfied.  Also, all CRA’s report $0 balance.  What is the best course of action to take with this CA?

Second question.  I have approximately $13k that I owe to CA’s or original creditors resulting from credit cards and a retail loan.  I hope to settle these through a pay for delete.  Is it realistic to attempt to settle for less than the face amount of the chargeoff?   

Many thanks.
Brian (more…)

Thanks in advance for taking the time to try and help us figure this out …

About 4 years ago, my fiancee had a Verizon cell phone. As she was in a little bit of a financial bind, she was late paying it several times, but always managed to catch it back up. However, since I was living in Canada at the time, she had a USA-CANADA unlimited plan that she subscribed to which was about $39 or $49 flat fee unlimited. Each time she was late paying Verizon, they would drop the plan. So every month she would get a bill for $400-500, call them back, remind them of the plan, and they would straighten it out and rebill her at the #39-49 rate. After this happened a couple more times, she got sick of it and told them to cancel. She then signed up for a new phone service.

The next month, she received her final bill, and lo and behold, it was for a whopping $800+ … again, the call was made to remind them about the prepaid plan and this time they refused to give her back the refund. To make a long story short, this went on for a couple months and she was told finally that it would be resolved and a new bill sent. This never happened and about a month later, another bill for the same $800+ was sent. Suffice it to say she kept trying to no avail to have the amount reduced.

She gave up and decided not to pay it. (Big mistake I know!)

However, no further bills were ever sent, and no phone calls from Verizon were forthcoming.

About a year or so later, at a new address (so we know that they are aware of our new address, more on that later) we received a Collection letter from Solomon & Solomon requesting the debt  be paid. We called and wrote them to explain the situation … that we would pay the amount we owed, but not the amount Verizon ‘said” we owed. No response.

Several months later, we received the same set of requests from Wolpoff & Abramson, LLP … same runaround. Same problem, only now they were asking for over $1000. Sent them a letter, no response.

About six months ago, my fiancees credit report show a negative mark from Palisades Collections. For the same debt … only this time we never received ANY form of notification (despite the fact that we know they have our correct address, see above)!

Is there anything we can do about this???

David (more…)

I have an 9yr old debt that has been renewed by several collection agencies. 

I recently found the original creditor which was a cell phone bill account sold to creditstore to be used as a way to repay.  No methods worked for repayment on my part. 

I am now trying to startover and this account appears under another collection agency. 

Are they required to produce the phone company as the original creditor or the credit store?

Tawanda (more…)

I have been following your advice and this is the first time I have ever had to write to you.  There is a collection agency that just got added to my Experian credit report.  This was just added within the last 30 days.  I contacted them and ask them first why they didn’t notify me and give me a chance to dispute it.  First the guy said they did send a letter to the address they had in their computer.  When he told me the address it was in fact an old post office box I had rented at one time.  When I told him that he indicated that it was not a law that they had to send a notification of the debt before they added it to my credit report.  He told me it was an old Verizon phone bill and I told him I had not had service with them for over 10 years.  He said it was like in 2001 when it went bad.  I told him it was not mine because I paid it when I went to get service at another address.  It could not be mine because he indicated the bill was like $700 plus. 

The other thing is on the Experian credit report it indicates the date opened as Sept 2006.  I know I didn’t open up an account in September 2006.  For about the past (5) years I’ve only been using a cell phone which is from T-Mobile.  When I said to him I never opened any Verizon account in September 2006 he indicated that the Date Opened was when they obtained the debt from the creditor.  The other thing is it says on that same credit report that this account is scheduled to continue on record until June 2008.  Something just is not right here.  I thought the Date opened was the date the account would have been opened not the date the collection agency obtained it.  Please clear this up for me. 

I want to take this time to thank you for all the help I have gotten from you.  Please keep up the great job.

Tom (more…)

Portfolio Recovery Associates submitted comments to the FTC on June 5, 2007 regarding (in part) Documentation Required for Verification of Disputed Accounts.  I think you’ll find this excerpt interesting. (more…)

My vehicle was repossessed in April of 2005. I was two months late on my payment and had made firm arrangements to pay with my first check. Two days before I received my check, the finance company repossessed my vehicle while I was working. Recently, I pulled my credit report and soon after began receiving calls from the finance company. I attempted to make arrangements but the finance company stated I could make a lump settlement no payments. From day one they have stated this. I advised recently that I still have no means to pay a lump sum.

A month later the finance company placed account with Collection agency. Since then I have received two notices from them and two calls. One voicemail incidated my file was being turned over to the state of Texas for legal proceedings and one of the Collectors told me they were preparing to file suit. My question: The finance company charged off the balance in June of 2005 but are charging me the same interest rate when I purchased the vehicle and the collection agency total amount is $2000 in addition to the balance forwarded to them from the finance company. I would like to know where I could further research the amount of interest that can be charged and for how long after a charge off by the original creditor has been placed. 2. What type of fees can a collection agency charge. 3.and I was considering sending in a $10 payment along with a letter disputing balance and requesting info from collection agency for a breakdown of the fees to make sure these are legal and applicable charge added to balance. What type of letter would be possibly get results?

Amanda (more…)

I havent been here in a while.  My husband and I have applied for a home loan.  Everything was fine, but when the underwriter pulled his credit, sprint showed him owing 650.00.  He is a current customer of theres and has been since 2004.  They said it was an old account from 2004, and we had to pay it.  We wanted them to send us the date the account was opened and closed and they told us they couldnt give us anything on this account because it was so old.  Well I called back I told them if they didnt have any information it must be with a collection agency, they finally broke down and told me who the collection agency was.  I called them they were so nice to me, believe it or not.  But I am wondering why cant a company give you any information on a so called account that you owe for.  Once I get this to my Mortgage Broker everything will be fine.  But I would like to know what I should do in case this happens in the future. Thanks

Vanessa (more…)

This is a similar “Statute of Limitations” question but I could not find the advice I need with the other blogs.  Here goes.  I received a letter from an attorney’s office requesting the balance of a credit card that I had (and stop using) nine years ago.  This collection dropped off of my credit report two years ago and now out of the blue I am getting this letter.  The letter states that I need to respond within 30 days.  I do want to respond but I am not sure what to write.  Do I write something along the lines of “this debt is over 7 years old”? Or, will I be validating the debt by doing this? I thought this was a debt that was long off my credit report and I don’t want it to re-appear. Any help woould be appreciated.

Dee (more…)

Hi Guys!

Thanks again for your help!

I have a question about debt validation. I understand that I have 30 days after receiving a notice of collection to dispute the accuracy of the debt, and to request infomation about the original creditor and/or a copy of the original credit application.

Can this be done after the 30 day period passes? I’ve spotted a collection on my Experian report that I did not know existed. And it looks like it has been on my credit for over a year! I did not ever receive a notice of collection (that I know of…).

What is my best bet?

Thanks!

Lance (more…)