IheartLoopHoles

That's a great response Shifter, you seem super knowledgeable. But how do you know it's legitimate? Just because they say so? Burden of proof is on them. I'm not in the business of paying off debts to third party collectors unless they can prove they own it and it's mine. Thank you for your golden contribution, I'll make sure to reference your well thought out response when I draft my letter back to them.

Brief rundown: Reporting debt past SOL. Due to fall off around May 2025. I disputed as not mine and it came back verified, hoping for an easy slay but that didn't happen. Sent VOD and also asked for information pertaining to SOL/DOFD on the account and requested limited C&D (written communication only). Got a BS response from them that I did not provide enough specific info or explanation of the basis of my dispute and that they are treating it as a request for validation. They are requesting that CB's mark as "in dispute" per FCRA and that the notice is solely for the purpose of responding to my dispute and not an attempt to collect. I should expect to hear from them within 150 days from the date of their letter. What would my best response be to put this baby to bed? It's going to fall off soon enough in a little over a year or even sooner....waiting 5 months for their response seems a bit ridiculous. I'm not in a huge rush to get it deleted but the principle ticks me off. Thoughts? TIA.

Still trying to find an angle here. @legaleagle2012 do you think the following statement on the TL could be construed as threatening law suit?: Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department They are reporting this on all of the TL's.

So I have received 1099-c's from some of my charge-offs and had to account for that as income on my taxes. I'm guessing I should not have to do that all over again with the CA that now owns the debt. Paying on the written off amount more than once is obviously not correct.

The OC is reporting as a charge-off. CA is reporting as balance due....

My understanding with OC's is once they have written it off their books via charge-off and then sell it to a JDB there is no business to be done. They consider it gone/not theirs anymore and will refer you to the JDB they sold it to.

Thanks everyone. Ok here is another question.... If you do the PFD for a settled amount, a CA can't send you the 1099-c for the written off amount right? Since they didn't incur the loss, the OC did.... and then they paid a very small fraction to buy it? Kind of answering my own question here but want to make sure it's worth it if I choose to do PFD.

They have all been charged off by OC's a long time ago.....

Thanks WhyChat. My understanding was that a PFD gets deleted from your CR's altogether and PRA specifically offers this as an option?

Thank you all that clarifies it for me. Sounds like I leave it or do a PFD.

Thank you. How about leveraging the reporting errors? Reaging?

I will add...DOFD is 2018 but they are showing the date opened in 2019 and 2020 with 1 month terms. They have OC listed and first 5 digits of the account number.

Suing. Just passed 4 years in June. Im in California.

Hi Yall, Years ago this forum helped me completely clear my CR's and I swore I would have perfect credit forever. Then COVID. That said, I have been thru many many posts to try and refresh my memory on best steps but there are so.many.posts. It looks like since last I was here (2007 or so) not much has really changed but I'm getting confused on what my best approach is with PRA. I am in California. Debt is outside of SOL. I disputed the tradelines (they have like 5 accounts of mine) with the CBs hoping for a lucky break. Yes that was a mistake. Is my best approach the FOAD letter? Or is there another approach I might be missing? Any help is much appreciated, thank you!

Thank you for that detailed answer liverichly! As it stands, this is my "forever house". I do not plan on moving (although you never know what life will throw at you). It would be great to refi to a 15 year, but not sure if I have the income to qualify for that (my original loan was a bit of a stretch based on my single income).