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kallejay
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Subject: debt collection failed their 30 day period.
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Fri Nov 14, 2008 6:02 pm
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I sent the debt validation letter to this credit collection agency, collectcorp. The letter stated that if they failed to validate within 30 days the debt would be void. So 32 days later I get a packet in the mail with about 10 random months worth of credit card statements. 2 days after that I get a letter from them telling me when my first payment is due.
What do i do? They failed their 30 day window, and i do have proof of that becuase i sent registered mail. Do i need to send another letter? do i need to threaten to sue? Should I contact a lawyer?
Thanks so Much! |
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goodnatured
Joined: 03 Nov 2007
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Posts: 3735
10 Magic Points
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Fri Nov 14, 2008 7:21 pm
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copies of the bill does not constitute debt validation.
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Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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Mary
Joined: 06 Jul 2006
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Posts: 730
17413 Magic Points
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Tue Nov 18, 2008 11:21 am
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Hi kallejay
Actually they need to validate the debt within 30 days from the date they have received your debt validation letter and not from the date you have send them the DV letter. Moreover, since they have send you the letter on the 32nd day from the date you have send them the letter, it might be that it is within the 30 day time frame from the date they have received your letter. Now the question is whether they have properly validated the debt or not. If they have properly validated the debt, then you need to come to a repayment agreement and pay them back else you can send them a second letter asking them to properly validate the debt.
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Where there's a will, there's a way !! |
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scott
Joined: 28 Jun 2006
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Posts: 462
10934 Magic Points
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Tue Nov 18, 2008 11:34 am
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Mary is right.Validating the debt would mean that the collection agency has to prove that they have purchased the debt from the original creditor. Now if the CA has purchased the debt from another CA, they must provide the proof that the OC has sold off the debt to the first CA, who in turn has sold it to the present CA. Moreover, the CA has to send you a copy of the original signed contract between you and the Original creditor and the outstanding bills. If they can provide you with these documents then you should go ahead and pay off the debts.
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SCOTT
Use your credit account responsibly and enjoy a debt free life. |
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goodnatured
Joined: 03 Nov 2007
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Posts: 3735
10 Magic Points
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Tue Nov 18, 2008 2:42 pm
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Do they have to provide a copy of the original contract from the original creditor? It has never been truly spelled out what constitutes real debt validation.
Does anyone know? can you please post what constitutes true debt validation? I have had companies send me copies of monthly bills, I did not accept that as debt validation. However I have to admit that I don't know the real definition of true debt validation.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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Mary
Joined: 06 Jul 2006
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Posts: 730
17413 Magic Points
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Wed Nov 19, 2008 11:16 am
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Yes, contract papers with the original creditor is always essential for debt validation. Moreover, the CA should also provide you with the proof that the OC has sold them the debt and the list of bills that are outstanding. Only sending you the outstanding bills is not a proper debt validation. Only if they provide you with all these details you should go for settlement plans with the creditor.
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Where there's a will, there's a way !! |
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fireyone
Joined: 26 Feb 2008
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Posts: 4124
1011 Magic Points
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Wed Nov 19, 2008 5:51 pm
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| I remember hearing that most of these places to do not get the original contract when they buy up an old debt. Why wouldn't the company selling the debt supply the new owner of the debt with this contract? I have always wonder why. You would think that they new buyer would request the contract (original) before buying the debt to rpotect their money they are investing in the debt. Does anyone know why things are done like this? also does the no contract mean no payment to the collector if they take you to court? |
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Quicksilvergrl
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Subject: No Contract no payment??
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Mon Oct 05, 2009 10:14 pm
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| The portfolios are sold with all the proper documentation. It is essential in our industry to validate the debt. What happens is that brokers get a hold of these portfolios and sit on the contracts so when they sell off the portfolio and a smart consumer wants validation, the purchaser of the portfolio has to shell out more money to obtain these essential docs. Eventually the agency will end up reducing the debt just to get it off their books, but you all know what you, right? Validation is simply a stall tactic. |
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Quicksilvergrl
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Subject: error last line
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Mon Oct 05, 2009 10:17 pm
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| You (we) all know who and what we owe, familiarize yourself with your bills, try to keep them current, always call the bill collector back, even if you cant pay, and they will work with you. |
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sdchargers_63
Joined: 13 Aug 2007
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Posts: 1334
1 Magic Points
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Subject: debts
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Tue Oct 06, 2009 10:19 am
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| In my 'personal experiences', with bill collectors, not alot of them are willing to work with you. Not all of them will send you a 'validation' (even though they are suppose to). Also........be aware of the SOL on the debt. Check your credit to see if the debt IS on your CR, and 'go from there.' |
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Justin
Joined: 17 Jul 2006
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Posts: 1093
25288 Magic Points
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Tue Oct 06, 2009 10:30 am
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Legally, a debtor is entitled to the right of debt validation. Any collection agency must provide proof that they own the rights to collect the debt from the debtor. Otherwise how can a debtor be sure of his payments to the CA? Hence, debt validation is extremely important.
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All the Best 
Justin |
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sdchargers_63
Joined: 13 Aug 2007
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Posts: 1334
1 Magic Points
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Subject: debts
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Tue Oct 06, 2009 10:38 am
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| You're right, JASON. However.....that doesn't mean that debt collectors go by that 'rule'. I've asked for Debt Validation, on a few of my bills. All I received was a copy of the last bill. What do you do in THAT case. |
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Justin
Joined: 17 Jul 2006
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Posts: 1093
25288 Magic Points
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Kara
Joined: 28 Sep 2009
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Posts: 5
108 Magic Points
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Subject: Follow up question
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Tue Oct 06, 2009 4:41 pm
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Hey Justin,
It seems as you though know what you are talking about. I have a guestion to your last post.
If a ca has only sent old staments and an affidavid from an earlier ca, and now sending an intent to file. What do I do now? And just a note on this also. The CA sent the statements and affidavid 3 mths after I requested dv. I have cert receipt to prove it. They signed cert on may 26,2009 and they mailed out the "VERIFICATION" letter on sept. 18, 2009. The letter for intent is dated oct. 1, 2009. Where do I go from here. Thank you for your time
Kara |
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Kara
Joined: 28 Sep 2009
Kara's page
Posts: 5
108 Magic Points
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Subject: follow up question
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Tue Oct 06, 2009 6:42 pm
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Hey Justin,
It seems as you though know what you are talking about. I have a guestion to your last post.
If a ca has only sent old staments and an affidavid from an earlier ca, and now sending an intent to file. What do I do now? And just a note on this also. The CA sent the statements and affidavid 3 mths after I requested dv. I have cert receipt to prove it. They signed cert on may 26,2009 and they mailed out the "VERIFICATION" letter on sept. 18, 2009. The letter for intent is dated oct. 1, 2009. Where do I go from here. Thank you for your time
Kara |
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