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How to sop updating?

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johnkennedy



Joined: 23 Aug 2008
johnkennedy's page
Posts: 1



46 Magic Points
Subject: How to sop updating?
 
 Posted on Sat Aug 23, 2008 8:46 pm  
Anybody know how to stop a creditor who bought a CO from the OC from reporting it as a current debt?

Mckim
 
erb1953



Joined: 31 Dec 2007
erb1953's page
Posts: 631



8 Magic Points
 
 Posted on Sun Aug 24, 2008 12:57 am  
Send a debt validation letter, you can find some samples on this forum, look under the stickies in the forum list.
 
mckim
Guest
 
 Posted on Sun Aug 24, 2008 8:32 am  
What should I do if the company does not reply to the validation letter? The CRA has already verified!

mckim
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2871



2195 Magic Points
 
 Posted on Sun Aug 24, 2008 1:58 pm  
I am thinking a cease and desist letter. How can the CRA verify a debt if it wasn't validated ERB? That one leaves me stumped. I have one that always shows an updated report but it also says it was purchased from an OC. With the OC on your credit report at least you can show it is an old account. What about disputing it?
 
anthony

anthony

Joined: 31 Jul 2006
anthony's page
Posts: 493



12319 Magic Points
 
 Posted on Mon Aug 25, 2008 7:35 am  
If a collection agency has bought the debt from the original creditor, you should send a debt validation letter to the agency asking them to validate the debt. The CA must validate the debt within 30 days of the receipt of your letter. Only if they don't validate your debt, you can get the listing removed from your credit report by sending dispute letters to the three credit reporting agencies.
_________________
Anthony Marx

A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible.
You can also visit my blog
http://financewatchonline.blogspot.com
 
Justin

Justin

Joined: 17 Jul 2006
Justin's page
Posts: 417



10874 Magic Points
 
 Posted on Mon Aug 25, 2008 9:09 am  
Even if you have received a collection letter from a CA for a debt which has still not been reported to the credit bureaus, you can send a debt validation letter. Under the Fair Debt collection Practices Act, the collection agencies must validate the debt before collecting it. But if they still try to collect the debt without validating it, you can send a cease and desist letter to the CA to prevent him from collecting the debt. However, if it has already been listed in your credit report, you can send dispute letters to the bureaus to remove the listing, if they cannot validate your debt.
_________________
Best Wishes
Justin
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2871



2195 Magic Points
 
 Posted on Mon Aug 25, 2008 1:06 pm  
I like that they have to validate before you have to pay.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3137



5334 Magic Points
 
 Posted on Mon Aug 25, 2008 2:28 pm  
Well if you did not make them validate can you imagine how many cases would just get paid that the person did not really owe or they had no right to collect on.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2871



2195 Magic Points
 
 Posted on Tue Aug 26, 2008 1:14 am  
True. I am glad that the debt validation process is there. Kind of like a protection from abuse.lol
 
Mary

Mary

Joined: 06 Jul 2006
Mary's page
Posts: 324



8704 Magic Points
 
 Posted on Tue Aug 26, 2008 10:36 am  
Sometimes, it happens that the collection agencies do not validate the debt and in spite of that harass people to pay of the debt. They sometimes even threaten the debtor to sue him to the court. In such cases, you should not pay off the debt. This is because even if they sue you and you have the proof that you have send a debt validation letter to the CA, the judgment will be in your favor. So it is always essential to send debt validation letters under certified posts.
_________________
Where there's a will, there's a way !!
 
Guest







 
 Posted on Tue Aug 26, 2008 11:11 am  
Yes, if the collection agency or the creditor harass you without validating your debt, you can make a complaint against them to the FTC, the State AGs office and the BBB. If the debt gets listed in your credit report by the CA, you can send a dispute letter to the bureaus asking them to delete the listing if they do not validate the debt within 30 days of the receipt of your letter.
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2871



2195 Magic Points
 
 Posted on Tue Aug 26, 2008 8:21 pm  
This is your best protecton. Anyone who is faced with a collector should not pay a debt until they validate.
 
Cevahiephed
Guest
Subject: grizzly triathlon
 
 Posted on Wed Aug 27, 2008 11:10 am  
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fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2871



2195 Magic Points
 
 Posted on Wed Aug 27, 2008 11:28 am  
Come on. Can't you find anything better to do? Seriously.
 
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