Received a validation...

[clambert1273]

I DV'd one of my CA's who actually sent complete validation - all the way down to an email and the original signed agreement...

 

I guess my question is what do I do now? Do I try to get a PFD? I believe the DOFD is either late 2003 or early 2004. I am in California but was in Texas at the time.

 

I will have more information when I get home from work.. so for now any thoughts?

[MistakeOfPast]

I'd like to know as well. My guess is now that it's validated.... could that be the last recourse for you?

 

Next they may sue and get a judgement? Is that right?

[clambert1273]

they can't sue... SOL is out I believe... but I still want it OFF my reports...

[mojo6911]

Are they reporting it correctly? Did they respond in time? Did you 1-2 punch them?

[clambert1273]

they responded.. lol sent me full validation including a contract signed... I did do 1-2 but it doesn't matter because I was past the 30 day window...

[powers64]

out of curiosity, would you mind posting the OC and CA names? It would be interesting to know if this is a sign of things to come

[clambert1273]

alright I got home and looked at the paperwork....

 

they sent me:

 

Dear Me,

 

This is to certify that our system reflects the following information, which has been reported to the three major credit bureaus.

 

Creditor: (Original Creditor information)

Patient's Name: LOAN# (account number)

Responsible Party: Me

Date of service: 8/02

Amount Due: $500

Credit Bureau#

FFCC#

 

The credit bureaus will be instructed to update this trademark on you credit report upon receipt of the payment. If paid with a personal check, there will be a 15 day hold before the credit bureau can be contacted. If you wish to expedite this process, you may mail a Postal Money Order or pay in cash in our office, in which case the credit bureau would be contacted immediately upon receipt of the payment.

 

We notify the credit bureaus electronically. If you wish receive a paper copy of the notification, please add $10.00 to your payment.

 

Attached - an email from the OC dated 10/02

Attached - the original loan agreement - signed 7/01

Attached - promissory note

Attached - printed copy of Loan Status report:

 

Loan Status Report

 

My information

 

Principle: 2000

Note Total: 3100

Monthly Payment: 260

Payments received 2600

Outstanding: 500

Payoff Amount: 323

Payments Made: 10

 

LOAN IS IN COLLECTIONS: 12/02

 

Date of last payment on this report: 8/02

Date of last deliquency on this report: 9/02 (ACCOUNT CLOSED)

 

So what do I do here?

[clambert1273]

any thoughts... all I can think of is trying a PFD....

[Jen23514]

they responded.. lol sent me full validation including a contract signed... I did do 1-2 but it doesn't matter because I was past the 30 day window...

 

never too late to 1-2 punch

 

 

have you disputed at any point with the CRAs?

 

have you looked at why chats SOL letter?

[clambert1273]

I have already done all that... it is verified through the CRA's - .....

[mojo6911]

Did they send you all of this within 30 days, as required? Again, is the tradeline being reported properly? What I mean is, are the amounts/dates/account types all accurate on your credit report?

 

As stated, try the obsolete method. I discusses this in my blog, under the Getting Started category. Here is what I posted in the blog:

 

Another method of removing this debt is referred to as a “FOAD†letter, or F- Off and Die, which I like to combine with an “obsolete†letter. I recommend that you do this as your second attack if the 1-2 punch doesn’t work for you, but it can be your first line of offense as well. This is based on WhyChat’s letter system. This works in a similar way to the 1-2 punch, but is slightly different, as the laws that are referenced are different.

 

A) Send a dispute to the Credit Bureaus telling them that this debt is obsolete and is no longer collectible due to your State’s SOL law, and specifically request the reported date of first delinquency.

 

Send a letter to the Collection Agency telling them that pursuant to your State’s SOL laws, you are no longer liable for the debt, and they have no legal standing to collect the debt.

 

C) After the Collection Agency has received your above letter, you send another letter to the Credit Bureaus telling them that you have notified the Collection Agency that the debt is no longer valid under your State Laws and that it must be removed. You will reference State Law and the FDCPA.

 

Here are the original letters from Whychat's site: http://whychat.5u.com/nottoca.html#DISPUTE

[clambert1273]

Ok so there is no confusion.... lol

 

I sent the original DV to the CA 4/8 - they received it 4/14 - I disputed it with the CRA 4/11/08

 

It has already updated in my reports a couple of days ago... I received this packet today in the mail - certified from them.

 

 

Now... according to the loan status page they sent me - they are reporting what is on that page (it is NOT a printout from them but from the loan company itself)

 

The DOFD is reporting correctly as well...

[powers64]

Are you sure this is past the SOL? In Colorado, if there is a promissory note, it is 6 years, while open accounts (credit cards are 3 years).

[clambert1273]

Honestly, because of my dismissed bankruptcy I don't think it is past SOL now... I just don't know what to do in this situation besides the obvious pay it (and I do NOT have a problem doing that)... would be nice to have some advice on how to approach a PFD with this one... Obviously they have their ducks in a row...

 

I went through and doublechecked the tradelines... they are reporting the way they should (I bet I am the first to say that lol) which probably is from their verification with the CRA's when I disputed...

 

However, going through my reports (again)...

 

The OC - has DOFD as 9/01 and shows past due balance and has it listed as a collection account (and it is listed on my report as well)

[HereKittyKitty]

The OC - has DOFD as 9/01

According to the first post, you got the loan in 7/01, right? Do you remember when you first went delinquent with it? It should be pretty easy to remember if you only made 2 payments.

 

ETA: Nevermind, I just saw this:

Payments Made: 10

 

So it sounds like the CA, who has your DOFD at 9/02, is actually correct. And as we've discussed via PM, the OC is now kaput so it'll be hard to pit them against the CA for reporting -- especially since the CA seemingly has the original paperwork.

 

The good news, SOL-wise, is that both Texas and Cali have the same SOLs (4yrs) with no apparent stipulation for promissary notes. So the debt is past the collections SOL.

Edited April 22, 2008 by HereKittyKitty

[clambert1273]

lol well the OC has the wrong DOFD according to their own paperwork which should be 9/02 LOL

[clambert1273]

But shouldn't I disupte the OC tradeline as if it is being reporting through the CA then they shouldn't be showing a balance correct?

 

God I am so confused lol

[HereKittyKitty]

If the CA is showing a balance, the OC cannot.

[clambert1273]

ok so at least I can probably get the OC off the report...

 

any ideas on wording a PFD... kiss up I supposed

[HereKittyKitty]

I would dispute the balance on the OC (at the very least). Since the TL has an incorrect DOFD, it should drop off in or around September of this year, so you could also try a "past the seven year reporting period" dispute.

 

As for a PFD ... can't help you there. I've never had to do one. But the board is loaded with people who have, so you might try a board search.

[clambert1273]

Im trying.... my brain is all confuzzled... honestly didn't expect this one to validate at all... LOL

 

This should tell you my luck... hopefully I dont have a mailbox full of 12 validations tomorrow LOL

[powers64]

why are you going to pfd if it is out of SOL?

[powers64]

i think you have 2 options: play hardball on the SOL. (did they threaten to sue you?)

 

from the FTC website:http://www.ftc.gov/bcp/conline/pubs/alerts/timebaralrt.shtm

 

Most courts that have addressed the issue have ruled that the FDCPA does not prohibit debt collectors from trying to collect time-barred debts, as long as they do not sue or threaten to sue you for the debt. If a debt collector sues you to collect a time-barred debt, you can have the suit dismissed by letting the court or judge know the debt is, indeed, time-barred.

 

Whether a time-barred debt — or any debt for that matter — can appear on your credit report depends on how long the debt has been delinquent: debts that have been delinquent more than seven years cannot appear on your credit report, with certain exceptions. In addition, a debt collector may not try to collect a debt that has been discharged in bankruptcy, no matter when it was incurred. To learn more about credit reporting, click on www.ftc.gov/bcp/conline/pubs/credit/fcra.htm.

 

or if it will make you sleep better (and it sounds like it will), you could let them know that you know it is SOL, but that you are willing to make a PFD settlement for $250..or however much...or put it in their court. have them send you a settlement offer keeping in mind it is time-barred in both CA and TX

[clambert1273]

It isn't out of SOL... my bankruptcy filing (that is now dismissed) put a stay on the debt which basically froze the time of the SOL - didn't restart it but just froze it.. so instead of it being 6 years... it is only barely 3

[powers64]

ahh..gotcha...yes then..i would pfd...if they seem like legit/above board collectors...perhaps ask them for a settlement amount and see what they offer. Put it back in their court...you could throw in a little GW ( i am trying to make up to my creditors and make amends....still struggling etc)