Calvalry Portfolio Services is reporting an expired debt on my credit report. It showed up on my report in November or December of 2009. The original creditor is Sprint. The debt is more than 7 years old. SOL in my state is 3 years. Does anyone know what I can do? I need to do something quickly, trying to get a clearance for a new job. I would appreciate any ideas any can offer. Thanks in advance.
Did they send you a letter within 5 days of posting to your credit reports? If not, that's an actionable offense under the FDCPA. Cavalry is notorious for buying out-of-statute debts and trying to collect on them. Find your date of first delinquency and see if it's been 7.5 years since that date--you'll probably be close to the limit.
I have not received anything specifically indicating they would be reporting to the credit bureau. I have just been receiving notices offering settlements. I really need to get this clearance for the new job. Should I take advantage of their recent settlement offer, I don't have much time to fight.
If you're definitely past the SOL, I would send a C&D and then dispute with the CRA's once you're sure that Cavalry has received your C&D. Perhaps some other posters with more knowledge than me would like to chime in?
The problem is that for employment (including security clearance, I believe) they can pull a "full report" which even show items that have been deleted or removed due to length of time. I'm not sure exactly what all is inclulded, but getting it removed might not solve your problems. I'm not sure you have to settle to get the clearance, though. One of the big things in getting a clearance is to be honest. Tell them what is going on and that they may see negatives on your report. Tell them that you are not sure it is your debt and you are taking action to resolve it. Is it really your debt? Have you requested and received validation?
