Is There Any Risk of "Waking Up" A Creditor If I Dispute a Delinquent Credit Card...

M

Mike

New member
...Account With That Creditor? Here is some background: 17 months ago I defaulted on a Credit Card with a VERY large balance. The calls and letters from the original Creditor started immediately and by Month 3 the account was charged-off. In Month 4 I received one letter and several calls from Debt Collector #1 and never heard from them again. All was quiet until Month 7, when I received several calls and no letters from Debt Collector #2 and never heard from them again (I found out later that they filed for Bankruptcy). All was quiet until Month 8, when I received one letter and no calls from Debt Collector #3. I requested Validation from Debt Collector #3 and never received anything. It is now Month 17 and I have not received any letters or calls from ANY Debt Collectors since the one letter at Month 8.
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If I dispute this item with the Credit Bureaus based on never receiving the requested Validation from Debt Collector #3, is there any risk of "reminding" the original Creditor that this debt exists and having them start to pursue me again? I keep picturing the "Debt Validation Dude" at the Creditor looking at the request from the Credit Bureau and yelling out "Holy Crap! I forgot about this one! Hey Sam, get going after this guy, he owes us a ton!"
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The ironic thing is that I DID dispute this item with all three Credit Bureaus several months ago based on the lack of Validation and Debt Collector #3 not being licensed to collect in my state, and one of the three Bureaus DID remove it. Since I had success with one Bureau I was thinking of again disputing it with the other two, but now I'm getting all paranoid . . .
 
Yes...there is a risk....don't stir up trouble for yourself. There's absolutely no point in trying to dispute accurate information...It sounds like you're trying to dispute the debt in the hope that it can't be validated and hence it would have to be removed. The chances are high that the existing correct info would be validated...and it could trigger renewed interest on the collection agency's part in pursuing collection activity. The risk is not worth it...esp. on high balance defaults that are well within the statute of limitations for all 50 states.

FYI: Charged off credit card accounts are often reported twice on your credit report...once by the original creditor...and once if a 3rd party collection agency buys the account. Even if you could get the collection agency's notation off your credit report by disputing it....the original charge off notation would remain anyway.
 
Yes...there is a risk....don't stir up trouble for yourself. There's absolutely no point in trying to dispute accurate information...It sounds like you're trying to dispute the debt in the hope that it can't be validated and hence it would have to be removed. The chances are high that the existing correct info would be validated...and it could trigger renewed interest on the collection agency's part in pursuing collection activity. The risk is not worth it...esp. on high balance defaults that are well within the statute of limitations for all 50 states.

FYI: Charged off credit card accounts are often reported twice on your credit report...once by the original creditor...and once if a 3rd party collection agency buys the account. Even if you could get the collection agency's notation off your credit report by disputing it....the original charge off notation would remain anyway.
 
Yes...there is a risk....don't stir up trouble for yourself. There's absolutely no point in trying to dispute accurate information...It sounds like you're trying to dispute the debt in the hope that it can't be validated and hence it would have to be removed. The chances are high that the existing correct info would be validated...and it could trigger renewed interest on the collection agency's part in pursuing collection activity. The risk is not worth it...esp. on high balance defaults that are well within the statute of limitations for all 50 states.

FYI: Charged off credit card accounts are often reported twice on your credit report...once by the original creditor...and once if a 3rd party collection agency buys the account. Even if you could get the collection agency's notation off your credit report by disputing it....the original charge off notation would remain anyway.
 
I was myself a holder of two delinquent accounts, and got into credit trouble. I knew it would screw my credit but I could not pay the bills. And under today's new credit card laws, I would never have been issued the cards in the first place, as I was under 21 and had no means of paying it off. But nontheless I had no grounds for disputing it, so I just let it go until seven years passed, and then it vanished.

If it's not your debt, you have every right to dispute it and protect your good name. Otherwise, face the consequences like I did.
 
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