My apologies in advance for being rather long winded here... I have a CA reporting an old account from Avco Financial with a last activity date of 3/97. This account was included in a chapt 13 filed in 5/93, and I know I stopped making payments to them prior to filing, so that date should probably be 3/93. Anyway, the 13 was dismissed in 6/95, and I'm assuming all of the included accounts reverted to a collection status. I never resumed payments to Avco, and no funds were disbursed to them while the 13 was active, so shouldn't 3/93 still be the last activity date? During a move, I misplaced my bk case files (but have ordered a new copy). I do have a schedule of creditors print out from the chapt 13 trustee, which shows this account was included in the 13 and a claim filed in 6/93. I sent copies of this info with a dispute letter CRRR to both TU and EQ (EX is not reporting). After approx 3 weeks, EQ sent a letter saying the item had been deleted. Then, approx 1 week later, they sent a follow-up letter stating the CA had provided additional information and the account was reported correctly. This implied to me that the item was being re-inserted, but it was not on the updated copy they sent me. In the mail that same day was a bill from the CA showing a principal amount of approx $1250 and $1300 in accrued interest. Impatiently, I called TU to check on the status of my dispute with them, and it's a good thing I did. They told me they had no record of my letter, even though I have the return receipt in my posession. So, I faxed them the letter and supporting documentation. After 30 more agonizing days, I received the standard reply from TU - Verified. So...I've been doing some digging, and I've found out that Avco has since been bought twice, and is now part of Citi Financial. After a number of phone calls, I managed to get a number to their bk department who was able to locate the account. They verbally told me over the phone that the account was charged-off in 9/93 (which would correspond to my estimated last payment date of 3/93), but refused to provide that info in writing because they are the ones who placed the account with the CA in 2000, when they acquired Avco's financials, and they also maintain it is being reported correctly. I'm trying to qualify for a home loan, and this account is in my way! I'll be damned if I'm going to pay some bottom feeder $2500 that I don't have for an account that should have been gone 2-1/2 years ago. So...after reading this board for hours and scouring every credit info web site I could find, I realize that I probably should have started with the Validation letter before the CRA's. Anyway, the validation letter went in the mail today, so we'll see what happens. I used the sample validation letter here as my basis, and I also requested an accounting summary of the account to show all invoices/payment history, but I don't expect that the CA is going to be very forthcoming with providing me the info I need to prove the real age of this account. My loan officer says that if I can prove the age of that account with my bk paperwork, then the underwriter might let it pass and approve the loan anyway, but that's a big maybe. I'm down to about 60 days to get this item removed. If that doesn't happen, the loan will fall through, and I'll also lose approx $3500 in company-paid relocation benefits toward my home purchase. Any suggestions on any other avenues I should explore to prove the last activity date should be 4 years prior to what they're saying it is???
