The SOL for California is 4 years. Look at the date of last activity (DOLA) for your collection accounts on your CR (which may or may not be correct) If all of the DOLA are over 4 years (before 4/2000) than your debts are past SOL and legally uncollectible. Which means , they are not legally enforceable debts. Take some time to get a plan of attack started. Get copies of all of your CR from the 3 CRAs and see who is reporting each debt. Know which CA is reporting for each OC , you may have more than one CA for each OC. Start with the debts that are definitely past SOL to begin with, so you don't "wake a sleeping monster". I would do tons more reading so you completely understand what Validation is, the correct letter to send (whether to a CRA or CA/OC) and all of the other nuances of credit repair. I have spent the last 8 months reading this board and I consider myself just above rookie status. It takes a lot of reading before you jump in. Since your debts seem to be past SOL, you are in a good position to dipsute and save a lot of that money you have worked for. Post your plan for others to check over and see if you or on the right path. You will get into the swing of things and start feeling more comfortable. Good luck! 3day
Re: Re: Re: You guys made me scared... Negative credit can be reported for 7 years + 180 days from the commencement of the delinquency date. So this means if you had a MBNA account opened in 1/98 , if in 4/99 you missed a payment and never caught up and never made another payment or an agreement in writing to pay. The CA/OC could report that TL on your CR until approx 10/2006 (if my math is correct which should be 7 years + 180 days since you missed your payment in 4/99) Correct me if I am wrong , guys ~ The 7 year clock does not begin on the opening date of the account for negative entries. It depends on the status of the account. A CA cannot reage an account for the 7 year clock (they are not supposed to anyway), but I think they can report an opening date , such as the date they purchased an account for collections, as a different date than the DOLA. I am not 100% about opening dates, so you may need some GURU assistance on that, but I think I have it right. They are required to report the date of deliquency to the CRA within 90 days of posting to a CRA, I believe. 3day
Re: Re: Re: You guys made me scared... Ordinarily I would stand by that advice, but you have a somewhat different agenda - you need to settle and have cash to negotiate with. This advice is best ina case where the debtor has little cash to settle with, just in case the CA decides to be unreasonable, so the debtor canm tell teh CA "fine, then eat the debt".
Re: Re: Re: Re: You guys made me scared... No they are not. I have not heard from Unifund for a really long time. It doesn't even show on my credit report that they are the collection agency that bought my account. So if I request a validation from the credit reporting agencies, then THEY ask Providian to prove that I owe that money? And Providian has 30 days to show proof? And if they can't - and they can't because they've gone and sold my account - then I'm in the free and clear???
Re: Re: Re: Re: Re: You guys made me scared... guys is this a good plan to take???? And what's the worst that can happen?
Re: Re: Re: Re: Re: You guys made me scared... CRAs do not validate (provide documentation that the debt is yours), they verify. Basically, if your name, and social or address match up they say yep its yours.
Re: Re: Re: Re: Re: Re: You guys made me scared... Okay I was getting a little mixed up yesterday. Basically what I do is tell the collection agency to validate that I supposedly owe them this money. And I dispute the accounts with crediting agencies... Well for disputing the crediting agencies... didn't jlynn sum it up here? And can I do this at the same time? And how long does it take for either of companies (collection company and the crediting company) to respond with either a positive or negative feedback? And after i request that the collection agency validate... what's the worst that can happen? If it hasen't past SOL then they might hire an attorney to my money??? And once I dispute my accounts with the crediting agnecies.. what's the worst that can happen? Thanks guys!!!
Re: Re: Re: Re: Re: Re: Re: You guys made me scared... Lets try it this way. You send the validation letters to the ca's. Send it certified mail, r/r/r. Once you get the green card back, you dispute it with the cra's. If the ca's verify it with the cra's prior to providing you with proper validation (proof) then they have violated the FDCPA which you can use as leverage to have the tradeline deleted. You will probably get several deleted right away. Those that can properly validate, you can negotiate a payment for removal, if necessary.
1*Now I feel like I can't trust them anymore 2* I have yet to call the collection agencies to tell them that I have the money 3*Or is there a better way to go about this??? empire ><- <>- ><- <> ~~~ ><- <>- ><- <>====================== ><- <>- ><- <> ~~~ ><- <>- ><- <> 1*You never could trust them. You just thought you could. 2*Rule 1 don't get on a phone with a CA. 3* VALIDATE ESTOPPEL ITS. Keep this process on track. keep control, don't give it to the CA
made me scared... 1*how long does it take for either of companies (collection company and the crediting company) to respond with either a positive or negative feedback? 2*after i request that the collection agency validate ... what's the worst that can happen? 3*If it hasn't past SOL then they might hire an attorney to get my money??? 4*And once I dispute my accounts with the crediting agencies. what's the worst that can happen? empire ><- <>- ><- <> ~~~ ><- <>- ><- <> ><- <>- ><- <> ~~~ ><- <>- ><- <> 1*That's a hard one to tell. 2*They validate 3*That depends on a lot of variables 4*The info remains or they screw things up worse the it was.
made me scared... Just a few comments.. "What do you mean "validate?" I figured that since it was my credit card debt that was sold it can be easily transferred back to me. Maybe I am misunderstanding the term "validate?" Validation means they gotta prove you owe them. You write the creditor and request proof that you owe the debt to them" -VALIDATION DOES NOT MEAN THEY HAVE TO PROVE THE DEBT IS YOURS. IN FACT, there is not definition of VALIDATION in the statutes. -"IDENTITY" is ONLY ONE aspect of the validation process. The "liability" arguement is weak UNLESS the debt is NOT YOURS. -The FCRA and FDCPA is designed to protect the consumer from unfair collection efforts REGARDLESS OF OWNERSHIP OF THE DEBT. THIS MEANS YOU CAN ADMIT TO THE DEBT ALL YOU WANT. ITS THEIR ACTIVITY THAT IS BEING REGULATED. -Additionally, ESTOPPEL DOES NOT APPLY TO DEBT COLLECTION. -Statute of limitaitons ONLY SETS THE TIME PERIOD DURING WHICH A DEBT CAN BE COLLECTED IN COURT. NOT THE "COLLECTABILITY" OF A DEBT. A DEBT COLLECTOR CAN ATTEMPT TO COLLECT A DEBT FOREVER, REGARDLESS OF THE SOL. "Rule 1 don't get on a phone with a CA." -Actually, a recorded conversation with a debt collector can be VERY VERY powerful evidence. They often will say incriminating statements they will not put in writing for the obvious reasons. *** I KNOW some states do not allow "surupticious" recording. NO prob. IF YOU CALL THEM, chances are they have a pre-recording that is the "conversation is recorded" statement. THIS WORKS BOTH WAYS! OR, include in your validation letter a small statement at the end in the order of "communicaiton with me may be recorded without further notice"
