My question involves collection proceedings in the State of: Oregon
I have an outstanding debt of $14K for a charged off Chase Bank credit card. The last time I made a payment was in March 2006. The debt was charged off in December 2006, I believe. It was sold to 2 or 3 JDB's and now is owned by The Bureau's in Illinois which continues to report negatively to the CRA's. I received a dunning letter from a local attorney about a year ago. I responded with a request for debt validation and that was the end of it with this attorney. I followed up with a validation request directly with The Bureau's and they responded with a brief letter claiming the debt is valid. They have never attempted to contact me seeking payment. On my credit report, this negative reporting says it will come off my report as of September 2012.
Since the SOL in Oregon is 6 years and I last made a payment to Chase in March 2006, I'm thinking I can dispute with the CRA's the negative reporting by The Bureau's. I have heard something about some credit cardmember agreement including an 'acceleration clause' that can extend the SOL which is counterintuitive. I have lost or discarded the original agreement from this card. My main questions are:
1) This debt shows up as two reportings on my report: one from Chase saying the debt was charged off and indicates I last made a payment in March 2006; the other from The Bureau's saying I owe them $14K but nothing indicates it is connected to the Chase charged off account. How do I demonstrate to the CRA's that these debts are one and the same?
2) If I initiate a dispute with the CRA's and there is some catch whereby this debt has NOT run past its SOL, might I be acknowledging that I owe this debt and might that awaken the JDB (The Bureau's) that appears to currently be napping on this one?
thank you much for any response...