Hello Everyone I have a little confusion with a CA that I need to get some clarification on. I posted this question on another board, but did not get very many replies. And I really want to get this settled as soon as possible. As I posted in a previous post I have to start my cr repair all over again, so with my new reports in hand I'm trying to devise a plan of attack. Hopefully someone here can help me. I have a CA on my report since "99". This Ca is for a car that I bought back in "97" but the car was repo'd in the same year. My state has an sol of 4 years. So I know that they are over the SOL on this. I wanted to send them a letter telling them that they are time-barred and then send another letter to the CRA"s with copies of the letter I sent to the CA telling the CRA's about the SOL as well. Or should I send Validation to this CA and go that route? I really need some advice on this. Any and all comments, sugesstions and advice welcomed. This is for a pretty large amount around $5,000
kathy, I think you may be confusing the SOL and the reporting period. The SOL is the time they can sue you and legally collect on this debt. The period that it can be reported on your credit reports is seven years from the delinquency (actually, seven years and six months from first delinquency). So sending them a letter stating that it is out of SOL will have nothing to do with the reports. Dispute this with the CRAs as "not mine." It's so old that the CA may not verify it, especially since it's out of SOL. Even if they don't delete it, it is very old. If you bought the car in 97 and it was repossessed in 97, then the longest it could be reported would be sometime in 2005. Get copies of your reports directly from each CRA (not the trimerge online ones) and they should show you the date it's due to be removed. If it's later than 2005, then they have illegally re-aged it, and there are other ways to deal with it. But get your report first, and in the meantime dispute it with the CRAs. It's so old that it may not have a big impact on your scores. You may be better off concentrating on newer negatives.
Thank you so much for the advice. I must be getting the sol and 7yr period mixed. I have to go back and re-read again the laws!! to get a grasp on that. I'm sorry it took me so long to reply I was having alot of trouble getting onto the server last night. Experian does show a drop off date of 2005. I did in the past try to dispute this and they would not budge. go figure with Experian. I did have this showing on my TU and EQ reports about 1 1/2 yrs ago, but that was the first time I disputed it and it dropped off of TU and EQ but not EXP (of course). But I can try it again. Thanks again for the advice. much appreciated. Kathy
With EXP, you'll need a stick of dynamite to try to get it re-investigated for any reason. But sending them a letter telling the CA to go jump in a river this debt doesn't exist any more under my states laws, may just get them to close the account and send it back (or sell it back to the OC, if they bought it). You can get EXP to re-investigate, but it'll take a little bit of something special to get past their we previously verified that information. Take a look at the trade line as it was when they previously investigated it, and if you see anything which changed (besides amounts), you may be able to attack the trade line that way to get them to re-investigate it.
I have a CA on my report since "99". 1*This Ca is for a car that I bought back in "97" but the car was repo'd in the same year. 2*My state has an sol of 4 years. So I know that they are over the SOL on this. I wanted to send them a letter telling them that they are time-barred and then send 3*another letter to the CRA"s with copies of the letter I sent to the CA telling the CRA's about the SOL as well. 4*Or should I send Validation to this CA and go that route? . 5*is for a pretty large amount around $5,000. kathy, -------------------------------------- 1*Should fall off in 2004.* 3*Can still report for 7 yrs. 5*Don't matter if past sol.
