Bad Credit Agency

Credit Repair... Debt Validation and Disputing question.?

If I want want a debt validation from a collection agency, do I have to write them the letter myself and ask them to remove it from the reporting agencies, or can I mail the reporting agency itself and say that "I dont know so and so collection agency" and have the the agency remove it?

Public Comments

1. First, check the collecting SOL in your state. If you are still within the collecting SOL but planning to pay, then requesting validation (and disputing incorrect info on your reports) is the best first choice. If you are still within the collecting SOL but cannot pay, sending a validation request and/or disputing would not be a good choice unless they are actively pursuing the debt. You would send the collector a debt validation (DV) request, sent certified mail return receipt. When you get the signed green card back you would send a dispute to the CRA's that the collector is reporting on. When you send the DV do not sign your signature, only print your initials or type your name. Look over your reports for any incorrect info they are reporting (they usually have quite a few to choose from). Pick one and dispute that with the CRA's. For example, collectors cannot legally report a collection account as being past due, with 1 month terms, as a factored account.........and the list goes on. You might click on my profile and read some of the FTC links I've provided like the FDCPA and FCRA. (the FDCPA is an easy read, the FCRA may take longer) You might also click on the last link I've listed to a free credit discussion board. You might start reading in the Newbie Forum and then in the Credit Forum. You will be able to learn the collecting SOL for your site and freely use any of the sample DV letters. ETA Thanks CJ, keep up the good postings :) To explain the reason behind the method: A person sends a validation request to the CA by CMRRR. The person receives the signed CMRRR green card back "proving" the CA received it. The person then files a written dispute with the CRA's. The CA verifies with the CRA's "before" providing validation to the person. The CA has then violated that persons rights Having a documented violation could very well come in handy at some point.. IF the CA follows procedure and does not want to commit a violation (in some alternate universe), then they will not verify with the CRA's before providing validation. Many CA's do not have the proper documentation to provide validation (because they "must" rely on the OC's files to provide it - FTC FDCPA Staff Opinion Letter - Wollman). If they don't have it and can't get it and don't want to violate, they won't verify and the item is removed from the credit reports.
2. Echo gave a great answer, the only thing I disagree on is that I'd either dispute with the credit bureaus first and then do the validation, or I'd do it at the same time...theory being that the collection agency may just ignore the dispute and then the listing is gone. When it comes right down to it though, I don't think it makes a whole lot of difference. Here is a flowchart that breaks down the process really well. For what it's worth, they recommend doing the dispute and validation at the same time. http://www.creditinfocenter.com/rebuild/debt_validation_workflow.shtml Edit: Great point Echo, I had not thought of it that way!
3. There is a proper procedure to remove derogatory items from ones credit report. If you follow these procedures your chances are much better. First of all, you MUST send via certified mail a letter requesting verification of the debt to the collection angency. They must reply and provide you all the information on who the original creditor was, when they purchased the debt and also what your rights are under the FDCPA. If they do not repsond, then follow the directions on disputing this with the CRA that is listing the debtl Here is the link http://www.ftc.gov/bcp/menus/consumer/credit/reports.shtm Download a pdf file regarding how to dispute with CRA's If the debt is beyond your states statute of limitations, then here is another link to help you with this. http://www.ftc.gov/bcp/conline/pubs/alerts/timebaralrt.pdf Information on time barred debts. Hope this is of help.
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5. The collection agency removes it from their report, so you need to contact them. I've found some good information here too... http://www.safelinked.info/jump.php?link=debt Take care.