Hello, I have been looking through this board for awhile now and have read and re-read a lot of information. Unfortunately, some of it is conflicting. I am just starting the process of credit repair and I have a few questions that I am hoping to get answered. 1. Does a CA have to validate a debt? I am outside the initial 30 days window with Midland Credit Management. I went ahead and sent a letter (RR) and still asked them to validate the debt. I stated that I did not owe them or their clients this money. Even though I realize I am outside the 30 days, I still asked for validation. They sent a letter back stating that "they are reporting to the CRA's that it is disputed. Can I mail any documentation I have regarding this debt to help them in their investigation." Of course I'm not going to do that! I know what they are after. But, can I continue to ask for validation? 2. I have a couple of collections that are legit. Small, unpaid doctor bills. I want to pay them, but the doctor's office has turned them over. I am going to try to pay the doctor. But, my question is even though it will be a "Paid Collection", it still negatively affects my score AND it restarts the clock on the seven year reporting period, correct? I understand there are some letters out there asking for removal of debt once paid. But, my understanding is that very few CA's will sign one of these and even if they do, CRA's will not use it to remove a debt. Any suggestions? I am assuming that even a paid collection is better than unpaid....but it sucks that the date of activity will start all over again. 3. This next question is weird, I know...but here goes: Which should I work on first? Old or new collections? As far as disputing? I mean does an older collection that will fall off in a year's time negatively impact your credit score as much as a new one? Does a higher dollar amount on a collection impact your score worse than a smaller amount? I know these questions have been answered a million times. Like I said, I have been looking through this board for quite some time. But, my first question about the 30 day validation period is asked because I have read two different answers on that. Some posters say the CA does have to validate and some posters insist that a CA does not have to validate. I'm a little confused! Thanks for any help you are able to give. This board truly is great.
No. A CA can refuse to validate and simply never attempt to collect again. Or, if your letter was sent past the 30-day mark, they're under no obligation to validate and/or halt collection. They may, if they so choose, validate, but they don't have to. Yes to your first part, no to your second. As I recall, the reporting period begins when the debt is first delinquent. I'm unclear on whether or not starting up a payment program would re-start the 7-year period, but I can't imagine how paying it in full would. For disputing purposes, why not dispute them all at once? If you REALLY don't want to do that, I would say dispute the newest first, because they -- theoretically -- have the highest weight on your score.
As many of you knows, the Midland Credit Management are very rood. They purches my chase credit (was arround 9000.00. They ask me to pay 50% immedialy so they can close the case. I did not do it becouse it was over the phone deal and the MCM bad reputation. Any way the case end up with local atterney firm worke in behalf of them. the account satteled with all decumentation showed the settelment and the zero balance. The settelment was also for 50%. After 60 days, I found Midland again in my credit report as collection for the other 50%. Their local atterny state that he provide his client (MCM) with all the decumentation regarding the settelment and the zero balance account status. Now for the past three days the hung up the phone on me. Please I need advice. Thanks
