I am in a dispute with a collection agency regarding a discrepency about the amount I owe. I sent the collection ageny a letter threatning to validate the info or I will sue for posting unvalidated info on my report and cc'd the credit agencies. they were calling me at my home and my job everyday for two weeks and now they have stop calling as of thursday. I'm kinda nervous because I need his to be deleted off my credit report for a mortgage. I know they have 30 thirty days to respond it's been two weeks. What do you guys think is going on?
2007-04-21 15:30:31 · 4 answers · asked by KinWin 5 in Business & Finance ➔ Credit
When you dispute an entry with the credit bureaus they should send a letter to your creditor stating that the entry is in dispute and that it needs to be verified. Your creditor then has thirty days to respond to the credit bureau. If he does not respond the entry should be deleted. If he responds stating that the entry is correct, nothing will be deleted. If you can prove that the information is incorrect, you can send a letter with proof to the credit bureau.
Good Luck
2007-04-21 15:36:15 · answer #1 · answered by Ti 7 · 1⤊ 1⤋
A debt collector is only allowed to contact you 3 times a week, one of those times at work. They are only allowed to call between 8am and 9pm your local time. If they violate either of these, you can file a complaint with the FTC. Never threaten to sue someone unless you plan to. Corporations laugh of when people threaten lawsuits because about 99.8% are just empty threats. I'd talk to an attorney about this. For about $40-50 most will shoot off a threatening letter to places like this. That is good enough for about 65% of collection agents. However, be prepared to back it up with an actual lawsuit. In the U.S., well over 90% of lawsuits are either dismissed or handled out of court in settlements. They will most likely settle out of court. You might be out $2,000 or so for the trouble, though.
2007-04-22 14:02:38 · answer #2 · answered by John G 4 · 1⤊ 0⤋
go to www.adviceontime.com they have an excellent article on credit that will answer your question.
2007-04-23 00:01:59 · answer #3 · answered by Joe 2 · 1⤊ 0⤋
all they have to do is reply and say they received your letter and are looking into it
they will drag their feet,, do nothing,,
2007-04-21 22:34:54 · answer #4 · answered by Jo Blo 6 · 1⤊ 2⤋