Thanks to this lovely site I have started the quest to clean up what little credit I have. I am 31 purchased a vehile in 2002-2005 with only 2 negative payments a secured loan for 2 years with only 2 negative payments. I am looking to purchase a vehicle in august and have already began saving for a downpayment. Originally there were three debts i owed.
1. 1300 delinquent since 2007
2. 480 delinquent since 2007
3. 140 delinquent since 2011
I supscribed to experian so that i could track my score through out the proccess originally my score was 571. I applied for a secured credit card to build credit for $300 I was approved
score 586
Fearing to wake a sleeping beast i left the 1300 debt alone hoping it would roll off
I sent debt validation letters to 480 and 140 accounts. using the sample letter posted on this page using certified and return postage, I used the information listed on experian for the acount numbers how ever they were partial 12345XXXX.
experian reported my accounts being in dispute.
score 626
30 days pass by
Sleeping giant 1300 dissapears off my report with out any letter sent or reqest of validation.
score 686
I then sent a follow up letter to accounts 480 & 140
I'm aproximatly 10 days into the return postage for 480 account; still shows on my record
after 8 days after return postage on 140 account I recieve a letter stating;
they can not validate my request becuse the account number was partial and they could not verify my account...
____---- after all the forum reading i feel im in lost territory----____
1. they know my account because they reported a dispute to experian...
2. that reply came AFTER the 30 validation period.
3. Is it an attempt to gather just more information from me?
they asked for my SSN
they asked for my Original debtor
they asked for my full ACCOUNT number
___________________
in the validation letter I gave them my full name and partial ACC number
it was enough for them to update experian....
WHAT DO I DO?
thankyou for all the great assistance and the help for guiding me along
100+ points in 2 months isnt bad :)
Don't respond to anything that comes after the validation period for you aren't legally bound to do so. Take some legal help on the matter.
There actually is no validation period. However, you need to send the validation letters within 30 days from the 1st attempt of collection. However, my question is did you get any collection calls? What actually made you in taking the baove stance - sending the debt validation letters. This letter mainly is sent to the collection agency and only when you are being contacted for collections. Please don't take me otherwise, but this can result in certain unwanted situations and especially so if you are trying to avoid too old a debt!!!
All the credit repair info I have read on various sites say the first step is to have an agency to validate that the debt belongs to you and they are legally able to collect the debt.
I didnt have any knoledge of the debt until I checked my credit report. I have not been contacted otherwise of the debt.