Question about disputing/validation

[mickey11]

Several years ago I went to annualcreditreport.com to get my report and through the CRAs they had options to dispute which I did. I knew the debts were mine but people have told me dispute them first, especially if they are older. They all came back verified. Is what I did the same process of sending out validation letters? I do not know what kind of information they gave the CRAs to validate the debt. Was it just CRAs sending them a notice I have disputed the information and the CA saying the debt is valid and that's it?

Also if I try and dispute the debt with a CA and they do have valid documentation will that screw up my chances for a PFD?

[Trish]

Did you just dispute it online? If so, it's just an automated system......which doesn't always work out to your benefit.

When you dispute an acct.. the CRAs will notify the CA/OC of the dispute.... the debtor then has to mark the acct as "in dispute" and supposedly do an investigation.
With and online or phone dispute, USUALLY what happens (because of wonderful technology) is the CRAs will cross check their information with what the CA/OC initially provided. If they get 4 items (I believe it's 4 but don't quote me) to match up (like ss#, address, phone number, acct#), they call it good......verified. That's how some of them come back verified so quickly.
When you pick one of their options/reasons for dispute, they code it....there are like 20 different codes and depending on what your dispute is coded, they will investigate it a certain way or check certain things on the acct. (does that make sense?)

That is why it's really important to delete as much personal info as possible. The less info they have to "cross check" with, the greater your chances are that it won't get verified.
That's also why hand written disputes via US mail give you a better chance. When you hand write them, they can't be scanned by the automatic "sorters" and done by a computer. If it can't be sorted by the system, it goes to a real person that actually has to read it and enter it in manually.

Ok....not sure if you wanted all of that .... lol ... but hopefully that gives you an idea of how they run things.

Also if I try and dispute the debt with a CA and they do have valid documentation will that screw up my chances for a PFD?

Do you mean dispute a CA debt with the CRA?
No, that won't hurt your chances.
But if you want to do a PFD, you should always make sure the debt is valid. If you dispute it with the CRAs and it comes back verified, then you want to send the CA a DV. If they can properly validate the debt, THEN you can shoot them a PFD letter (that's what I would do anyway....unless I know for sure the debt is legit and the amount is correct)

[mickey11]

Trish,

Thanks again. I know the debts are mine and just want them off. I don't mind doing the PFD first. I am thinking of sending PFDs to those CA that are not tied to an OC on my report.

After that and see how much success I have I will try working on the OC/CA ones.

Also do you think if I offered a little more money for a settlement it would entice the CAs to remove? For instance if I owe $250 and send a PFD offering $300 any idea if they would jump on that and take it? I don't mind paying a little more if it means it's off my credit report.

[Trish]

Ok.... well, if you know the debts are legit and correct, you can go ahead with a PFD first if you want to get it done a little more quickly.

Did you see the PFD thread? Do you know if restrictive endorsements are allowed? (are you going to go the contract route or the RE route?)

OMG NO! lol Don't offer to pay more... If these debts are out of the collection SOL, sometimes you can even bargain down and pay less.
If they are still within SOL, paying them in full should be enough incentive for them to work with you.

[mickey11]

I briefly read the PFD section this morning. I was thinking of going more the contract route. Which method do you think is better? It seems the RE method might be better when there is a OC/CA combo but for those that are just CA and the OC is not on my CR I was thinking the contract method.

I live in the State of Florida so I have to research the RE method.

[Trish]

There are a list of states that enforce REs.... it doesn't look like Florida is one of them.
It would probably be best to go the contract route. That way you get it in writing that they are agreeing to your terms.

[Scorepro]

Restrictive endieswmebts are not enforeceable in Florida. Even where applicable, contract is always the way to go. There is a section of Federal UCC (uniform commercial code) on negotiable instruments that would allow party who deposits a restrictivly endorsed check to return it, especially when the party it is written out to is a large company who may use an automated system to open payments and scan them in. In a case like this, obviously the machine is not capable of knowing your background and would be depositing ur check as part of an automated procedure. The company has a certain amount of time to return the check if this happens.