After I dispute a credit card debt what has to be done next?

Question

I disputed a valid credit card debt of mine of $1,700 about 3 days ago to the collection agency. I am wondering what are the next step to follow. Do i have to send a letter to the credit bureaus too? also if they validate my debt, how much time do I have to pay this collection my debt. Please help me out, I'm nervous if they will take me to court or not. I live in Virginia if that helps for any law information. I would appreciate your help. thank you

Answer 1

The VA state statute of limitatiions for credit card debt is 3 years so if the debt is beyond the limitations, then it is "time barred" and they can not seek legal recourse.  If they do try to take it to court, the SOL would be your defense.

If the debt is valid, the time to repay would be determined by an agreement between you and the collection agency.

If they fail to validate this debt, then the next step would be to contact the CRA's and file a dispute.  Here is a link on how to do this (don't try it online, it never works).  You will have to send it to the CRA's certified mail/return receipt!!!

http://www.ftc.gov/bcp/menus/consumer/cr...

Download a pdf file regarding how to dispute with CRA's

the CRA's will then have 30 days to validate the debt, if they get no response from the collection agency either, then they will remove the item and send you a new credit report.

Hope this answers your question

LEGAL DISCLAIMER:  The advice contained herein is for informational purposes only.  It is not to be construed as Legal Counsel nor Legal Advice.

Answer 2

It the debt not yours?  did your card get stolen?

Why don't you just make payment arrrangement with the collection agency to clear this debt.  You used the Credit card so now pay.  

It doesn't make any difference where you lived or living, you applied for the cc and received and were to read the terms and conditions of the card, on condition is to pay timely.