623 Verification Letter to OC? Help!

[Flypilot]

I have a couple of accounts that are reporting by the OC as charged off with a balance. The debts are 3.5 years old and outside of the SOL. I have been told that once the debt is sold, OC's typically do not keep your records for very long and will not be able to verify the account 100%.

What do I include in the letter for verification? I have read that if the OC cannot verify what you are asking for, they must delete the trade line.

Any other advice on how to set the OC up for a violation or "verification" that they cannot meet would be great. Last resort is to offer a PFD settlement. I will not pay anything if it is going to remain on credit or possibly reset my 7 years for reporting the trade line with a zero balance.


How should I attack this? What would you ask for?

Fly

[Lian]

What would be the basis for your dispute? In order to dispute any item of information in your CR, you must identify an inaccuracy in its reporting, and provide sufficient documentation to enable the alleged inaccuracy to be investigated. Otherwise, they can dismiss the dispute as being "frivolous or irrelevant."

Charge-offs are almost bullet-proof from a dispute. A charge-off is an internal bookeeping measure taken by a creditor on bad debt for purposes of shifting the debt from an asset to a liability on their accounting ledger, and thus reducing tax liability to the IRS.

To successfully dispute a charge-off you would have to show that the account was not in fact delinquent when they made that business decision. Even if their records are now incomplete, they can simply dismiss your dispute unless you provide some documentary basis.