Hi, I'm reading online a few places say to go ahead and first send a letter to the CRA's telling them to correct your address to your current one, "Before doing anything else".... Why is this? Wouldn't this open the door for other collectors to come looking for you? I don't want a barrage of collectors coming at me at once! Or Is this step done so that when DV letters are sent to CA/CRA that there will be a mis-match in the address verification and more than likely the debt "might" not validate... and therefore would be removed? - Sorry this last scenario seems stupid and way too easy, I'm sure the CRA's keep record of all old addresses and you can't just make them disappear to make it look like you never lived in ____________! right?
I wouldn't get too slick w/ the dodging of CA's based on your address; generally, if they want to find you, they will. But to answer your question, the CRA may be trying to protect you from identity fraud/theft by asking for your updated address. If they don't have current records, you're more susceptible to fraudulent charges. In some instances, updating your address can have a small effect on how likely you are to be approved for a loan by a creditor since some lenders prefer lendees that stay put. To sum it up, CRA's probably already have your address - in my opinion it won't hurt (and could possibly help) to update your info.
Thanks, and right on the money. Today i got a reply from Cap one i had applied for. They said exactly that: "we need more time as the address given did not match the credit reports." and they gave my the contact info for all 3 CRA's suggesting it might be a good idea to do so as "correcting this information may help you receive credit more quickly" You also right on point # 2. Today i ALSO got a notice from a CA, at my new address... Which is HAD NOT even update with the CRA's I had not received notices for Years and now right after i pull my credit report / applied for credit with Cap1 i got my first one.... Should i just expect a flood of other to start coming or should i assume since the debt is from an old HSBC account (now owned by Cap1) that capital one gave them my new updated address and this is why i'm hearing from them?
Yeah it's weird about this P.R. LLC, wanting to settle a debt on an old HSBC account, but their offer letter had a date of 10/23/12, Which really can't be possible since no one knew of this address before 10/24/12...Are there any laws being broken as to obviously lie-ing about when/where they got my new address? Isn't this a form of mail fraud? "is this anything worth knowing about as ammunition in dealing with them? The debt is for around $800 they are offering $300 (which i think is great!) however they state it will be marked as "settled in full" & the original amount HSBC reported as charged of was $300 NOT $800 (i guess fees and interest)......... I moved around A LOT, i mean A LOT!!! and i don't remember ever getting notice from this company. But they are already reporting remarks on the Tradeline as "Dispute Resolved: Customer Disagrees" and their letter doesn't say anything about giving me 30 days to request validation like it's the first contact with me. Their letter seems more like "hey it's us again, this time were have this to offer of....." Do i just send a DV letter anyways? PFD at the same offer price? The date of first delinquency was supposedly back in 2008, if i pay any thing will this affect how much longer the tradeline can be on my account? Thanks for any insight.
