I have had perfect credit my entire life. I have never been late for payments on any account ever opened under my name. I checked my score a week ago because I was applying for a home loan. It was 767. Two days later I get an email stating my score had dropped to 671. I rechecked my credit and I had an outstanding debt from Franklin Collection Services for $177 for unpaid phone bills from AT&T posted just a few days ago. The delinquent account was from October 2007. I have never had an account with AT&T. And I have never received a single bill or phone call from either the collection agency or AT&T about the aforementioned bill. When I called the collection agency they had my name and SSN on record. But the address from which the account was opened was not mine. In fact I have been living in my current address for 11 years! They also did not have my phone number, just the phone number from the delinquent AT&T account. They also did not have anything with my signature on it. I called AT&T and they had the exact same information as the collection agency. They had nothing with my actual address, phone number or a contract with my signature. My question is if I submit copies my driverâ??s license, utility bill, W-2 from the last 3 years and bank statements with my real address and phone number to the 3 credit bureaus with my letter of dispute, is there a good chance that they will remove this false information? Iâ??m also including specific bank statements and utility bills from September 07 to November 07 as further proof of my actual residence and phone number at the time the account was opened. If all the collection agency has is my social and name is that enough verification of debt for them to leave it on my credit report?
Don't submit copies of anything to the CRAs. They report what is reported to them. Dispute with all three agencies, certified return receipt requested. They need to verify with the collection agency. In the meantime, send a debt validation to the collection agency (also certified). Make it simple--I dispute this debt. Please provide proof that it is mine. Don't sign the letter--use a script font instead. It is up to them to prove that it's yours, not up to you to prove that it's not.
Agree with Hedwig about not sending information like that to the CRAs - but do not agree with getting a debt validation NOW, without the CA first contacting you regarding the debt. If you contact them now it will just open a can of worms.
But OP needs it cleared to get a mortgage. He can write and say that he noticed it on his credit report, has no knowledge, and needs to know what it's for. If he's never been late on a bill, it's not like he's awakening a sleeping dragon. My husband had this happen to him. They went away and never came back, because he really didn't own anyone anything. If you do, it's a different issue entirely.
So I should send a letter to the debt collector? I didnt want to do that because right now they have NO actual contact information for me. Which I figured was a good case to the CRA's that the debt was not mine. And also I know how shady the collectors can be. I thought them getting my actual information will lead them to harrassing me about the debt over the phone and mail. And forgive me for asking this but Im new at this. Why would I not want to submit the documents I listed above to the CRA's?
You can try disputing with the CRAs first and see if it comes off. The reason you don't send them the documentation is that they will not act upon it. They don't evaluate any information, and in fact will tell you they cannot accept it. They are a credit REPORTING agency. They REPORT what is sent to them by creditors, they don't evaluate what you send and try to determine the validity. When you file a dispute, they will go to the creditor and ask them to verify. If it comes back verified, then it stays on your record. If not, it is deleted. You're trying to get a mortgage. How much time do you have? The CRA has 30 days to respond on a report you purchased, and 45 days if it's your free annual report you're using to dispute.
I wanted to buy in middle of november. Thats why I didnt want to take a chance. Because it will take them 45 days (I got the free report) to even get back to me. And if they come back as the debt was verified then I wont be able to buy my home on time. If I dispute it will they count it as verifed if the collection agency has my full name and SSN BUT the address on the bill does not match the address on my credit report AND there is no signature on the bill?
I don't understand why people are so freakin' afraid of dealing with collection agencies. Send them the DV letter. Keep it simple -- I saw this on my credit report, it's not my debt. It's really not your debt, so why worry? They'll either take it off, or you'll sue them. If they are reporting a debt that isn't yours, they have already violated the FDCPA. The absolute worst thing that can happen here is you have to sue them, then a Federal Judge will order them to remove it from your report and pay you $1,000.
That's what I was thinking when I first posted. If you truly don't owe anything, then make them prove that you do. They can't.
