Transferred vs sold... ??????

[frstgneclipse]

Good Morning everyone,

I have a question about the dispute process. What is the difference between an account that has been "Transferred" vs "Sold" to a collection agency.

How or "is" the dispute process different when disputing the line item?

Thank you for your help

[chane]

As far as your credit report is concerned it's pretty much the same thing. "Sold" just means a CA bought it. "Transferred" means it was transferred from one to the other.

The dispute process shouldn't be any different. What are you going to say in your dispute? This is the part most people mess up. It's incredibly simple, yet so many people get it wrong and it pretty much cements the negatives in their credit reports.

[frstgneclipse]

The Dispute that I'll be sending is a validation letter, also, it will not be a canned letter or one out of the self help book. I'm just going to ask them to prove that the debt was assigned/sold to them, copy of the original contact, payment history, prove that the SOL hasn't expired, proof that they are licensed in my state and provide me with OC's information and if there has been any judgments filed on the line item.

All this will be after I dispute with the CRA's.

[chane]

That's not a dispute then. Credit report disputes go to CRAs (credit reporting agencies). Debt validation requests go to CAs (collection agencies).