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Fasfeed
Joined: 06 Feb 2008
Fasfeed's page
Posts: 87
3244 Magic Points
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Subject: Proper proof of debt
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Wed Feb 27, 2008 5:12 pm
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| What would be considered as binding validation of debt. I recently had a collection company send me out a copy of validation of debt. There only appears to be computer generated copy of summary of transactions. Have they supplied enough information to verify the debt. Can i ask for more validation and what would i ask for. This also came after I recieved a settlement offer from the collection agency. I sent them a pay for deletion letter agreeing to settlement amount. They responded with the DV ,without agreeing nor disagreeing to terms of pfd. Should I resend pfd letter stating second attempt. The settlement offer has also ran outside its course of the 30 day window offered. Waiting on response to DV,before I do anything else. |
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diem
Joined: 20 Feb 2008
diem's page
Posts: 94
152 Magic Points
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Fasfeed
Joined: 06 Feb 2008
Fasfeed's page
Posts: 87
3244 Magic Points
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Fri Feb 29, 2008 1:26 am
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| THANKS for your post Diem !! The collection company name is RGS financial .Their out of Texas . I wiil be sending a copy of this letter out asap . Will be updating you on the outcome. |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1334
1 Magic Points
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Subject: debt
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Fri Feb 29, 2008 6:41 am
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| Maybe, DIEM...you can help me with THIS issue. I have Cash Call, on my CR. However......Cash Call no longer 'owns' this account. The CA, who NOW owns it, is ALSO on my CR. How can I 'remove' Cash Call? Can I use a similiar letter, like the one above? |
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Laura
Joined: 21 Jun 2007
Laura's page
Posts: 1402
34547 Magic Points
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Fri Feb 29, 2008 10:06 am
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Wendy you need to send a dispute letter in this case. What is the status of the account with Cash Call now?
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Regards,
Laura. |
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Morningstar
Joined: 17 Apr 2007
Morningstar's page
Posts: 601
11 Magic Points
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Fri Feb 29, 2008 11:33 am
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IMO, even if CashCall no longer owns the debt, they can still report accurate information that happened while they did own it. Go through the dispute process anyway, you might get lucky.
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I don't dream since I quit sleeping |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1334
1 Magic Points
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Subject: debt
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Fri Feb 29, 2008 6:10 pm
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| Laura........I don't deal with Cash Call anymore. A CA has 'owned' my account, for a while now. ..about 5 months, or so. However.....BOTH the CA and Cash Call, are on my CR. |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4124
1011 Magic Points
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Sat Mar 01, 2008 10:25 pm
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| How can they report 2 od the same debts even if they are different companies? That doesn't seem fair because if they continue to keep selling the debt and each company keeps reporting it doesn't that look awful on a credit report? Also if the debt clears its self off a person credit record in 7 years does the company who bought it say a few years later have to quit reporting it also. You would think once it went off after 7 years (I think I read this is how long credit card debt continues on a credit report) the company who bought it couldn't report it either. |
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Morningstar
Joined: 17 Apr 2007
Morningstar's page
Posts: 601
11 Magic Points
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Sat Mar 01, 2008 11:22 pm
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The account falls off credit report 7 years after date of charge off; if a collection agency continues to report the entry after that date, it is in violation of the law, probably intentionally.
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I don't dream since I quit sleeping |
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Morningstar
Joined: 17 Apr 2007
Morningstar's page
Posts: 601
11 Magic Points
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Sat Mar 01, 2008 11:24 pm
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Only the original creditor and the collection agency collecting may do this. Two, three, four... collection agencies may not report the same debt at the same time.
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I don't dream since I quit sleeping |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4124
1011 Magic Points
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Sun Mar 02, 2008 1:51 am
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| That sounds fair enough. If they do keep reporting it can you do something to make them stop? Also if I may ask another question. I have an old doc bill on my report. It is set to expire in about a year. I never relized it was there until I recently pulled my own report. I had full medical at the time and can't figure out how it never got paid but is such a meaningless amount that I would just pay it to not have it there. Now the question part. If I do this will the other creditor I owe from the year 2000 start harassing me even more? I already deal with them and one on my husbands that wasn't actually his but his fathers (long story). Don't want to deal with anymore. If I had to I would just rather let the debt run out. |
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Morningstar
Joined: 17 Apr 2007
Morningstar's page
Posts: 601
11 Magic Points
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Sun Mar 02, 2008 2:11 am
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Debt validation letter + dispute with credit reporting agency should do the trick. If a CA continues to report in spite of not collecting the debt, and in the face of DV letter + a dispute with CRA, intent to sue letter should be the next step.
If you're not going to buy a house or car in the near future, you could either let if fall off, or try the dispute process.
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I don't dream since I quit sleeping |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4124
1011 Magic Points
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Sun Mar 02, 2008 2:39 am
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| Not planning on doing either. Just went through the whole house thing and not moving again and already have a loan for my truck, that I just got a few months ago. Just wanted to clear it up since it was such a meaningless amount. Thanks for the advise. |
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erb1953
Joined: 31 Dec 2007
erb1953's page
Posts: 621
-55 Magic Points
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Sun Mar 02, 2008 3:04 am
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| I have read on the debt forum that cashcall is very difficult to work with, are they, it seems true. |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4124
1011 Magic Points
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Sun Mar 02, 2008 2:17 pm
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| I dealt with cash call long ago. I spoke with them once and after how rude they were I went out and bought a caller id (when they first come out). Figure it was better to pay a monthly fee for that product than to deal with such wolves who want to hear nothing. They wanted all or nothing. |
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