I have searched this morning on the forums and can't find answer, so if anyone has help please give some advice. Sol in texas 4 years Old electric bill fell off credit reports last year after validations and disputing with cb's Pulled credit report yesterday the electric company (oc) not there but now they have sold it to a ca professional finance out of co who is reporting it as new and to fall off 2012. Can they do that? I have typed up a validation letter and disputed with TU so far since that is the credit report I pulled. I am just scared since it says collection agency/attorney on the tradeline and their website has lots of attorneys.
Okay, a couple of basic questions first: 1) Did you (ever) pay off this electric bill? 2) Did you receive any written communication from the CA? 3) Did you ever submit a written dispute/validation request when you first received any notice from the CA? 4) When did this electric bill first become deliquent, or "Charged Off" The CA is within their legal rights to report the tradeline (if you did not dispute the debt in writing, and/or did not pay the debt w/in 30 days); generally CAs will not report if you pay within 30 days of receiving the first notice. It sounds like the CA is reporting that it went to a "Charge Off" status in 2005. I'm assuming that this is still not paid, and that you have received a written notice from the CA. At this point, I think your best option is to try and negotiate a "Pay For Delete" with the CA. If it is your credit report that you are concerned about, then I would offer full payment in exchange for "Pay For Delete". You have nothing to lose by asking. As for the SOL, that is for the time available to pursue collecting on the debt via a court judgement. It has nothing to do with reporting on your credit reports. IF.....the bill is older than four years, then you have even more leverage to negoatiate a "PFD". A caution here though, just because a debt is past SOL, the collector can still try to take you to court, and secure a judgement. The SOL defense must be brought up by the debtor, no one else will do it for you. In summary, everything done by the CA appears legal and correct. If your concern is your credit reports, then I would try to negotiate a "PFD" with them. You will need to do your homework to determine the date of deliquency to help you in your negoatiation.
We found out about the debt several years back when we started pulling credit reports to repair our credit...The orginial bill was charged off around 1998. I disputed with all 3 bureaus and it was deleted off of experian only. Well It was only 2 years from being off the reports so we left it since it was from the orginial creditor. From reading on this website oc do not have to validate right? Well it fell off in 2005. We have not pulled a cr since early 2006 and so nothing was on the report. Pulled his credit this weekend to check everything and they put it onl his credit 3/2006 again. This time its a collection agency not the oc. We have never had any contact with the electric company nor the ca. But that is reaging. Taking an account that is 9 years old and putting the first day of del. as 3/2006
