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ok. i want to delete an item from my report. if i send a dvl and they prove it is mine and they are the holders of the debt do i give up my rights up on sending them the pay for delete letter.
or, do i send them the pay for delete letter without sending them the dvl first because it states that i am not saying it is mine or not. i just want them to delete it once we agree on the amount.
confused on what comes first the dvl or the pay for delete letter.
pay for delete or dvl
Hi pab,
You should first send the debt validation letter if you are unsure about the debt. Even if you are sure that you owe the debt but don't know the exact debt amount you can send debt validation. Thus, it is always better to send the debt validation letter.
If the debt comes back validated, send the "Pay for delete" agreement (PFD) through certified mail, requesting a return receipt (not all collection agencies agree to PFD). However, if the collection agnecy fails to validate the debt, the question of PFD does not arise. In that case you should send in the dispute letter through certified mail to the credit bureaus.
Thanks,
Aaron
thanks
wasn't sure if i could still send the pfd after i had sent the dvl. thanks for clearing that up. it can get kind of confusing. glad i found this forum. on the dvl should i get real specific and ask for payment history? can I ask for copy of the original contract with my signature?
dvl and pfd
Hi pab,
Debt validation is the process through which you try to validate the debt. As I have said you can ask for validation even if you owe the debt. On the other hand "Pay for delete" agreement (PFD) can be negotiated on any debt you owe. It has no connections with the validation of a debt.
As for the validation the collection agency is supposed to provide you with copies of your signed contract with the original creditor and the proof that the CA has the authority to collect the debt from you. Other than this they are also supposed to send you copy of your monthly statements as proof of the outstanding debt amount.
However, not all CA provide you with all the three proofs. You can refer to the sample debt validation letter at http://www.creditmagic.org/repair/sampleletter-debtvalidation.html .
Thanks,
Aaron