There is one thing I am still unclear about and that is how to deal with the OC!! I sent a Validation Letter to a CA (sears) but I have two Lines in my credit report. one with the CA and the other with the OC.... should I be sending a letter to the OC as well or should I wait for the results from my VAL to the CA? thanks...
The collection account shows as follows Company RMA Pur1 JAX Rms008 Account Number SEARS-XXXXXXXX Whose Account INDIVIDUAL ACCOUNT Date Opened Last Activity 10/1996 Type of Account Open Account Status CHARGE-OFF Months Reviewed High Credit $107 Terms Balance $107 Past Due 107 Date Reported 12/2001 OC tradeline reads... Company Sears Account Number XXXXXXXXXXXX Whose Account INDIVIDUAL ACCOUNT Date Opened 01/1995 Last Activity 02/1996 Type of Account Revolving Account Status 120+ DAYS PAST DUE Months Reviewed 40 High Credit $0 Terms Balance $0 Past Due Date Reported 06/2002 Times Past Due Previous High Status: Charged off to bad debt 02/1996; 30 Days 00 60 Days 00 90 Days 01 --I sent a Validation letter to the CA and disputed online with Equifax for both OC and CA..
The oc is allowed to report it as long as they show it as charge off with zero balance. It looks like the ca has changed the dola thus reaging it by 8 months. If you don't get positive results with this round, I would advise the ca that they are reporting incorrect info and thus in violation of the FCRA. The listing with the oc is due to fall off in Feb. I would wait til maybe Sept. and then dispute it as obsolete. In my experience, when it is within 6 months of being purged, the cra's won't even mess with it, they will just delete it.
