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Trying to get answers from creditors

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postaljf



Joined: 09 Apr 2009
postaljf's page
Posts: 2
Location: Akron, Ohio


66 Magic Points
Subject: Trying to get answers from creditors
 
 Posted on Thu Apr 09, 2009 5:04 pm  
Are creditors obligated to show proof of a loan with signed papers or can they just say "I have verified your address"?
shekhar

shekhar

Joined: 30 Mar 2009
shekhar's page
Posts: 41



529 Magic Points
 
 Posted on Thu Apr 09, 2009 5:45 pm  
Code:
Are creditors obligated to show proof of a loan with signed papers or can they just say "I have verified your address"?


I have a specific answer for this question that is 'Yes'.

Creditor needs to clarify that he owes your debt and should show all the proofs related to the validation of the debt.

Yes they need to show the proofs, that's the final answer and one should not fall pray to the tactics of those sharks.
Mary

Mary

Joined: 06 Jul 2006
Mary's page
Posts: 730



17417 Magic Points
 
 Posted on Fri Apr 10, 2009 11:07 am  
If it is an original creditor, they may send you details of the outstanding debt amount and it will be considered a debt validation. However, as far as I know, if it is a collection agency, the CA must provide you with the proof that they have purchased the debt from the OC and the original signed contract between the OC and the borrower.
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