I was wondering, should I save up $$ in case I request validation and they come through (for settlement purposes)? Or should I just go for it. my derogs are 1997-1999 352$ - 849$ Help! regards, Trina
Well, the big factor with sleeping dogs is SOL. If it is past SOL, you don't have to worry about the suit...you have an absolute defense: the debt is past SOL. But if it isn't past SOL, you could be waking a litigious sleeping dog. The odds of providing "complete" validation is rare, but you should always know the consequences and be prepared to pay if you want to resolve the issue.
I've been validating accounts that still have years on the SOL.. I don't have the $$$ for them, but I know I'll get it if this doesn't work. I'm completely prepared to fork over $$$ ASAP. so far, luckily, I haven't had to do that. We have 2 collections left, out of 6. I'm sending out an intent/demand letter today. I'm a little nervous. We'll see! Yes, you could be waking sleeping dogs. If you're worried about it, just take on one at a time, in case you need to pay. Have you disputed w/ the CRA's yet? Two of ours went away w/ simple disputes. I've sent validation letters for the rest, and 2 more went away. G/L to you!!
Re: "Sleeping dogs" (LONG) Can someone help with an analysis? EXP (650 ) has ISAC (student loan) collection acct (I just sent last payment, but in such a hurry, forgot to sign check, had to send it back, so now will have a few $$ left still), on record until 2/05 MBGA/JCPenney collection acct , on rec until 1/03 Sallie Mae (though this is above student loan!) claim filed w/ gov;past due 180 days, on rec until 9/04 Universal Card/CBSDNA acct charged off 600 charged off, 1019 past due as of 5/00 on rec until 8/03 Capital One this is my good (secured) acct open/never late any help would be greatly appreciated. my question is should I only do one acct at a time, one report at a time, or go whole hog? (may be moving soon, which is why $$ limited, but at same time better credit would be helpful) Please email me if you want better look at my situation;pulled all 3 reports, just posting one as example. thanks, trina so far EXP 650 EQ 627 TU 454 (got for free; FAKO?)
Re: "Sleeping dogs" (LONG) the first thing I would do is dispute w/ all 3 CRA's--do 3 or 4 derogs at a time. The first dispute try not mine. Then, you can always try again as never late. Many of mine came off by the 2nd round of disputes!
