I had a charge off (2 1/2 year old) deleted by disputing it about 3 months ago. I was sent an updated report, (out of the blue) about a week ago and the charge off was reinserted by the creditor. Can I re dispute it? Any suggestions would be greatly appreciated.
Well the credit bureau wouldn't just send it to you out of the blue. The creditor reported it again and made sure you know about it by sending you your report. Sure, you can dispute it, but it wouldn't make much sense now. The creditor must be trying to collect it now, and any investigation will yield a "verified" result. This will only make the creditor even more hungry: If you care so much about your credit rating, then he'd know he has all the cards, and depending on the amount, may even consider filing suit. If you can afford to wait, keep waiting till the SOL period expires, and then negotiate. If you can't, get used to the idea of paying it and negotiate its removal from your reports. Whatever you do, don't make any statements acknowledging it's YOUR debt. These would reset the SOL period. If you choose to pay, first insist that they prove they bought the debt. And most important, contact the *original* creditor. If their accounting is a little screwed up, they might accept your payment, in which case you can demand removal of any entries in your report inserted by the collection agency. It's a long shot but it worked for a few people here. Saar
Did they report the original date for entry: last date of activity.,or did they up the date for: last date of activity.? If they rported the orignal:date of last activity;then you haven't lost the 21/2 years,but if they updated the:last date of activity;then you've lost that time. just curious and don't know if they can legally do that.
River wrote: "If they rported the orignal:date of last activity;then you haven't lost the 21/2 years,but if they updated the:last date of activity;then you've lost that time." Nope. What they reported has nothing to do with the expiry of the SOL period. And if they reported false information, I recommend retaining counsel. Saar
this is the only thing that makes me nervious about disputing certain items on credit report. I have disputed all three reports and have noticed that I am recieving letters from some of those collectors that I haven't heard from in 3 or 4 years. Ifeel like I opened a new can of worms with some of these people. But I haven't call or responded in any fashion, shape or form because I don't want to put my foot in my mouth by saying something wrong. Some of these agents will put words in your mouth. My SOL on most of these are up in 1 or 2 years and I rather let sleeping dogs lay.
Saar thank you for the information... I think I KNOW what happened. back in 4/00, I attempted a settlement negotiation with a collection agency that claimed they owned this charged off debt. (this collection agency was NOT on any of my reports) This collection declined my offer stating that the original creditor had problems 'validating' the debt. I then disputed the original creditors chargeoff and had the chargeoff removed from ALL 3 CBR'S. (this confirmed to ME, that they OBVIOUSLY were having some problems) I guess then the 1st collection agency..the one I offered settlement to...sold it to another agency. This agency I guess, is the current "owner" of the debt. I sent a letter to this 2nd collection agency requesting validation. I received no reply. I sent a followup DEMANDING validation, with no reply. I THINK MY DEMAND FOR VALIDATION IS WHAT INITIATED THE ITEM TO BE REINSERTED BY THE ORIGINAL CREDITOR. To date, the 2nd collection agency has provided no validation. They obviously IGNORED my requests, because I just received a "settlement" offer from them. This 2nd collection agency is not on any of my credit reports. I will be applying for a mortgage in January 2001. It almost feels like they know...even though I have applied at NO mortgage companies. What do you suggest? I only have about one and half months to take care of this.... TIA
Given all your previous correspondence (which I hope you've sent certified + RR), followed by the finger you got in response, you need an attorney. In all likelihood, your attorney will only have to send 2 letters, one for each collection agency. I'm giving you this advice because your story suggests they're not really able to prove the debt. Saar
RE: More info please...? " And most important, contact the *original* creditor. If their accounting is a little screwed up, they might accept your payment, in which case you can demand removal of any entries in your report inserted by the collection agency. It's a long shot but it worked for a few people here. " Is this true? I have one last collection account on my credit reports (except a student loan currently in rehabilitation). I recently contacted the original creditor and they agreed to accept payment for this debt. So this account has now been paid to the original creditor. Does this mean I can legally demand that the information reported by the collection agency be removed? This would be very good news if that is the case. Any advice on this would be greatly appreciated. Mike
RE: More info please...? Of course. Obtain proof of payment from the original creditor (if you don't already have it). Then dispute with the bureaus claiming the debt was paid to original creditor (attach proof), hence the collection agency can't possibly own the debt. And if they don't own it, they can't report it. Or, you could pursue it directly with the collection agency. Tell them they have 30 days to correct it or they'll have to explain to a judge how come they keep trying to collect a debt that no longer exists. Saar
RE: More info please...? Thank you for the help. I had been planning to dispute it as paid and hope they wouldn't verify. But I think I'll try what you suggested first. Again, thank you. Mike
That is what happens when you dispute. I had a cable bill in collections with Equifax collections. It was not even on my credit reports. Well, equifax's collection agency sent me a collection letter soon after I starting getting copies of my reports and disputing. I was thankful. I paid the account before it reached my credit file. roni
