I am going to use the sample letter from this site to negotiate my debt with a ca and have the negative listing completely removed from my reports. On my credit report it shows the oc with a "charged off as bad debt" and also shows the ca with a listing of "collection account". Should I be dealing with the ca or oc? If I get the ca to agree to a settlement and delete the negative listing then what about the oc's original negative report? I want to wipe them both clean, any advice? thank you.
Find out first if the OC sold the account to the CA, or just assigned the account to the CA. If they sold it then you have to deal with the CA, if just assigned you could try to deal with the OC.
How do i find out if the account has been sold by the oc to the ca or just assigned? On my credit report the oc lists the account as "charged off as bad debt", with account type as "revolving". The ca lists the account as "collection account", with account type as "open account". Should I just call the oc and ca and ask them? How can I beleive them? You people ROCK!!! Thanks for all your advice.
ok, so I found out the ca owns my debt. I'm going to negotiate a settlement with them. As part of the settlement I'm going to make the total deletion of the ca's listing from my credit report as part of the deal. What about the oc's listing? is there anyway to remove that as well? Or will the oc's listing remain as "charged off as bad debt" remain on my credit report until the 7 years are up? If this is the case then why should I do anything at all? once again, thank you all
If I send a validation letter to the ca, even though the debt is over three years old and I've never responded to their letters, does the ca still have to honor the validation letter and provide proof of the debt to me? Even though I never responded within the 30 day time frame of the original letter the ca sent me about three years ago. Also, if they don't respond within 30 days to my validation letter do I send the second validation letter, followed by the third, followed by the estoppel letter, and then sue? Or can I skip the second and third validation letters and go straight to the estoppel? thank you for taking the time to help me, if I could I would throw a party for everyone of YOU.
You can attempt the PFD, but dont count on it. If you make the settlement offer, and they dont accept it, then you send in validation, and if they validate it, dont look for a settlement again, look for a summons for court. Anytime you send in a dispute letter, they have to cease collections until it is validated. They are not required to respond to your validation request within 30 days, they can take 3 months or 3 years if they want.
