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Debt Validation for Verizon Charge-off

Date: Wed, 05/11/2011 - 05:30
Submitted by kelly.maloney.ctr on Wed, 05/11/2011 - 05:30
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Hello. I'm brand new to this credit repair thing, but am absolutely gung-ho on fixing it. I see a charge-off on my credit report from verizon for 511 dollars from 2006. I don't even know what this is for. Looking back, I should've kept far better (or even kept ANY) records of my finances, but believe me when I say that I've learned my lesson. My question for all of you is this, can I send a debt validation letter to Verizon regarding this charge-off or there a whole different avenue I should be taking? I'll pay the charge-off if there's a way I can get removed (which I know from what I read isn't always possible) off my report. I just want to make sure I should actually be doing that first...


You can send a debt validation letter to a collection agency in order to know whether or not they really own your debt account. You can't send it to your original creditor. You can contact your collection agency and negotiate for a pay for delete. In this process, you will have to pay the debt in full and the creditor/CA will erase all the negative information on this account from your credit report. You can check out a pay for delete letter from the given page: http://www.debtconsolidationcare.com/credit-repair/pay-for-delete.html


Submitted by Anna Sweeting on Wed, 05/11/2011 - 20:19

Anna Sweeting

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If you want to get the charge-off removed on your credit report, go ahead and talk to your creditor. Only he will be able to pull it back from a collection agency and remove it. There after, you may express your willingness to pay it off and request him to go for a Pay for delete agreement (PFD) as Anna has explained.


Submitted by on Sat, 05/21/2011 - 01:54

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I dont see any reference to a collection in the post, so debt validation under FDCPA 809(b) does not appear to be an issue.
Removal of a charge-off, other than by way of a good-will or PFD request to the original creditor, requires a dispute of the accuracy of the charge-off itself. That is extremely difficult to do. A charge-off is an internal bookeeping measure taken by the creditor, and as such is not a classic delinquency. To do a charge-off, you must have been delinquent on the account, and they must have asserted in their IRS filings that the debt was now considered "uncollectible." If the debt was delinquent at the time of the charge-off, the only remaining grounds for contesting the charge-off is that the debt was not "uncollectible" in the opinion of the creditor.
I dont know how one would go about challenging an opinion.

Neither the reporting of a charge-off nor referral to a debt collector, and their reporting of a collection to the CRA, necessarily means that the OC has sold the debt. The charge-off is an internal business action taken at a point in time, and is unrelated to what the OC subsequently does to collect on the debt.


Submitted by Lian on Thu, 05/26/2011 - 18:04

Lian

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