I have never posted to CT about my particular situation, so please stay with on this one. I bought my FICO's about a week ago and noticed something quite odd on my reports. Let me give the story of my credit card. I have had this Chase credit card for quite some time, 10 years to be exact. The account was opened in 1995 and I was doing good until I ran into financial problems around 1998. Well needless to say, I got WAY behind on my credit card and the interest and fees started piling up. I originally had a $3,000 credit limit but when I looked up one day...the card was up to $6,000! They finally charged it off and that was the end of all the fees..... So now I am looking at a 6,000 credit card with a terrible payment history and a charge off. Well, Chase called and they were nice about everything; they put me on an assist program and I was faithful to the program until hard times hit once again (and they say lightning doesn't strike twice). They kick me off of the program and insisted I get with a CCCS. I took the representatives advice and I have been with a CCCS for the past 5 years but here is the real problem... I have been reading about Debt Validation and I still don't quite get what's going on. Here is my situation.... Just recently Chase sold my account to Alliance One collection agency. I thought it was no big deal - since I was paying my account every month. In fact, I haven't missed a payment in over a year or maybe two. Here is what bothers me. I looked at my credit report carefully to realize that Chase is reporting very differently on all reports. You see, on TRANSUNION they are reporting the account as being charged off but NO LATES were reported. On EQUIFAX, they are reporting that I was late 15 times and on EXPERIAN they are reporting 25 lates. My question is, can I send a DV to the collection agency although I am still making payments. Do I send a special letter stating, 'I am disputing the payment history but not disputing the account". Or do I simply send a letter to the OC asking them to verify my 10 year payment history or verify that I have over 25 lates? What do I do? Would it be a wise decision to send the CA or OC specific details about my account.? Remember, TRANSUNION is reporting NO LATES and TU is my highest credit score at 671. So do you think, and I quote, will I be "WAKING UP THE BEAST". Because what if the OC verifies something different and all my scores go down as a result of my dispute. The CA is not reporting on my credit reports although the balance is going down every month. Any suggestions???
