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I want to send a validation letter. My questions is this: Do I send it to the 3 credit agencies or to the actually collector? I would save a shit load of postage if i sent it to the credit agencies, but I am not totally sure how well that would help me. Do i also send a copy of my credit report or can i just cut and paste off the report and give them what they need? TIA
credit repair
one more thing. If a had a credit card that i payed on for like 1 year and then stopped making payments and now its is past due like 1 year. Should I send a validation letter to this company and hope they take it off? Or do i want to keep it because it did show I paid on time for a year? or is this just bad all together?
Hi Hollie
Debt validation letters should be send to the creditors or the collection agency who claims the debt and not to the bureaus. You need not send them a copy of the credit report along with the debt validation letter. The creditor or the collection must validate it before they continue with debt collection. As a proper debt validation the creditor must send you with details of the debt, including the amount you already paid, the amount that is still outstanding and the name of the original creditor.
Hi Hollie
If you have defaulted on the credit card for a year, then it has already been reported to the credit bureaus as a delinquent account and so your credit score has already been affected. However, I think that you should contact your creditor and pay off the credit card debt in order to avoid judgment which may again lower your score.
If you can make the payments towards the credit card debt now, you can send them a DV letter in order to check the outstanding debt you have on your card. However, even if you pay off the debt, it will still get reflected in your report as negative for seven years.