I received a collection letter from Southwest Credit dated 12/07/2010
Sent a DV letter back, delivered 01/03/2011 (27 days) USPS Certified.
So far they haven't responded or verified in any way.
On 03/10/2011 I noticed the following apprear on all my Credit Reports:
New Collection SOUTHWEST CREDIT SYSTEMS I
[TransUnion] Account information disputed by consumer, meets FCRA reqs
[Experian] Customer disputed account - reported by subscriber.
[Equifax] Consumer disputes this account information
Subject has not satisfied debt.
From there on I keep getting alerts that a new collection is being placed: on 03/26/2011;04/02/2011. They keep changing the dates!
This caused a 100 pt drop in my scores.
Are they allowed to place this on my reports 3 months later? Are they allowed to keep updating it like this? Should I dispute with the Credit Bureaus?
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.