Jump to content

Dealing with OCs


DeputyJ
 Share

The last post in this topic was posted 3987 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Recommended Posts

I have recently Dv'ed 2 CAs reporting on my CRAs and waiting to hear anything back from them.

 

I have 3 other accounts reporting, all OCs, that need tending to.

 

Chase - Charged-off - Still showing the balance.

Captial One - Charged-off - Still showing the balance.

Macys - Charged-Off - Still showing the balance.

 

I want to take care of these prior to them selling the debt, which I am surprised they haven't yet. DOFD on all 3 are around Feb/March 2012.

 

I've been reading that OCs hardly ever delete. What should I be asking for if they tell me they won't delete? I can pay them, just want to pay them and get the best action done to help my CR.

 

I'm going to call them up in about 2 weeks to try to clear up the debt so I don't have to worry about CAs.

Link to comment
Share on other sites


I just contacted OC Macys, who is reporting on my CRs. They advised they still own the debt but all payments/settlements have to go through FMS(CA). I cant PFD the CA they aren't even reporting.... do I just work out a settlement?

Link to comment
Share on other sites

I have a settlement letter from FMS for $414 (total $753). I cant PFD due to them not reporting anything, OC still reporting, but stating I need to deal directly with FMS. Offer expires 3/24/14. Should I just mail the money order? Or do I need to try to work out other arrangements in writing?

Link to comment
Share on other sites

anyone?

When you called Macys did they have full information on you? What you owe, dates etc? They cant report information to the CRA if they cant verify what they have on file. Maybe you could do a 623 letter to the OC? To be honest I haven't done it yet but that's how I'm going to approach my situation (I have Macy's too)

Link to comment
Share on other sites

Process for Original Creditors

- You are confirming what you owed when the account was charged off.

- Building a paper trail if you have to later sue the CRA or the OC.

- Holding the CRA and OC accountable for the reported information.

 

There are no guarantees with disputing, but I used these procedures when I was clearing my big 3 reports.

 

1. Is the CRA entry fully accurate; amount owed, dates, account information, Date of First Delinquency (DOFD), etc.?

2. Dispute the OC entries with the Credit Reporting Agency (CRA) Response Time: 30 days - 45 days if info is from a free annual report.

 

3. If the information is not removed, send the CRA a Procedural Request (PR) letter. The FCRA gives you the right to challenge how they verified what you disputed. Review the information sent in the PR response. Is the contact info correct? If not, how could they have "verified". Response Time: 15 days

 

4. Send a 623 letter to the OC requesting a "re-investigation" of the reported information. Response Time: 30 days

You are challenging the OC to review what they reported and confirm accuracy. ***NOTE: The 623 letter can only be done after an unsuccessful CRA dispute.

 

The response time is important, because failure to respond - or not responding in the required time violates the FCRA. Violations are possible bargaining tools for removal.

Edited by tmcgill
Link to comment
Share on other sites

Process for Original Creditors

- You are confirming what you owed when the account was charged off.

- Building a paper trail if you have to later sue the CRA or the OC.

- Holding the CRA and OC accountable for the reported information.

 

There are no guarantees with disputing, but I used these procedures when I was clearing my big 3 reports.

 

1. Is the CRA entry fully accurate; amount owed, dates, account information, Date of First Delinquency (DOFD), etc.?

2. Dispute the OC entries with the Credit Reporting Agency (CRA) Response Time: 30 days - 45 days if info is from a free annual report.

 

3. If the information is not removed, send the CRA a Procedural Request (PR) letter. The FCRA gives you the right to challenge how they verified what you disputed. Review the information sent in the PR response. Is the contact info correct? If not, how could they have "verified". Response Time: 15 days

 

4. Send a 623 letter to the OC requesting a "re-investigation" of the reported information. Response Time: 30 days

You are challenging the OC to review what they reported and confirm accuracy. ***NOTE: The 623 letter can only be done after an unsuccessful CRA dispute.

 

The response time is important, because failure to respond - or not responding in the required time violates the FCRA. Violations are possible bargaining tools for removal.

This is really awesome , thanks! ;)

Link to comment
Share on other sites

Process for Original Creditors

- You are confirming what you owed when the account was charged off.

- Building a paper trail if you have to later sue the CRA or the OC.

- Holding the CRA and OC accountable for the reported information.

 

There are no guarantees with disputing, but I used these procedures when I was clearing my big 3 reports.

 

1. Is the CRA entry fully accurate; amount owed, dates, account information, Date of First Delinquency (DOFD), etc.?

2. Dispute the OC entries with the Credit Reporting Agency (CRA) Response Time: 30 days - 45 days if info is from a free annual report.

 

3. If the information is not removed, send the CRA a Procedural Request (PR) letter. The FCRA gives you the right to challenge how they verified what you disputed. Review the information sent in the PR response. Is the contact info correct? If not, how could they have "verified". Response Time: 15 days

 

4. Send a 623 letter to the OC requesting a "re-investigation" of the reported information. Response Time: 30 days

You are challenging the OC to review what they reported and confirm accuracy. ***NOTE: The 623 letter can only be done after an unsuccessful CRA dispute.

 

The response time is important, because failure to respond - or not responding in the required time violates the FCRA. Violations are possible bargaining tools for removal.

Link to comment
Share on other sites

I just had one question on this method; I read somewhere that after the CRAs come back to you with a verification, you should call the CC and ask if they have your record on file. While on the phone, you should get their name an employee number; this information needs to go on the latter to the OC. Do you think this step is needed or just a letter stating that the CRA verified the debt?

Link to comment
Share on other sites

The only time I have called the OC is to verify the Date of First Delinquency, charge-off date, account number - or other info if I don't have in my records.

I don't think the step is necessary to follow up with the CRA Procedural Request or the 623 letter to the OC.

Link to comment
Share on other sites

The last post in this topic was posted 3987 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share




  • Member Statistics

    • Total Members
      189738
    • Most Online
      2046

    Newest Member
    TheCruiseMermaid
    Joined
×
×
  • Create New...

Important Information

Guidelines