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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!
copies of the bill does not constitute debt validation.
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.
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.
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.
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.
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?
No Contract no payment??
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.
error last line
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.
debts
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.'
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.
debts
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.
Hi sd,
In that case, you might again request for debt validation through the debt validation follow up letter. Even then, if they do not provide the debt validation documents, then you can send them a cease and desist letter. If the CA still persists, then you can file a complaint against the CA to the FTC and State Attorney General due to violation of FDCPA.
Follow up question
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
follow up question
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
Hi Kara,
You mean to say, that your debt has been passed on to a new collection agency. A debt is not validated unless the CA provides a copy of the original contract, statements from your payment history and proof that the CA is authorized to collect the debt. If you have these documents then your debt is validated. In answer to their intent to file, you can write about a settlement offer. Most of the times the collection agencies settle for out-of-court settlement since it is a wastage of money and time. Try to negotiate with them and settle your debt. Before doing that, evaluate your financial position and calculate how much you can pay them.
Do this and tell us about your progress.
Original Creditor Debt Validation
I requested a debt validation/investigation via certified mail. tThey mail me a letter requesting that I sign a affidavit and file a police report. Did not. Spoke to them on 3 way with Sheriff Dept asking for a copy of the check they said I signed and cashed for a solicitation loan. they still want me to sign affidavit/told them to put it in the mail. I got a certified letter p/u request but intentionally did not get it because I only want the debt validation sent certified. they never sent me a copy of the check/no contract can i still sue them for reporting this account on my credit report