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Collection reply on Debt Validation now what?

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lostboyca



Joined: 29 Dec 2008
lostboyca's page
Posts: 8



366 Magic Points

Subject: Collection reply on Debt Validation now what?
 
Posted on Wed Jun 24, 2009 8:37 am  

I wrote a debt validation to my collection (Portfolio Recovery Associates) and they replied with "An Affidavit of Sale" Where do I go from here I have attach a letter that I sent and the letter they have sent back it seems as if they did not reply to my request. And the interesting thing is that the first letter they sent me it stated that I owe $5,277.92 and their Validation letter response stated that I owe $6,638.47.

Any suggestions? I have until July 1st to reply Sad


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fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 4246



130 Magic Points

 
Posted on Wed Jun 24, 2009 5:33 pm  

This is not a validation of debt. I do not believe that this company can seel anything that you own. It is my understanding that they must first take you to court and then they can get a wage attachment.
I would call your atty generals office and ask them about this subject. Also you should give us a little more information so that we may let you know what rights you have.

How ls this debt and when was the last payment you made on it? We need to know your state or the state the debt was obtained in.
Portfolio did not validate this debt correctly so you may also send a dispute letter to the credit bureaus.
lostboyca



Joined: 29 Dec 2008
lostboyca's page
Posts: 8



366 Magic Points

 
Posted on Wed Jun 24, 2009 7:02 pm  

This debt was because I didn't pay my CC I believe the last time I paid my CC was rougly 2+ years ago. I live in California. I could not attach the letter on this thread for some reason but it would be great if you can take a look at it. http://www.diversityrus.com/Portfolio_letter.pdf the first two page is the letter I sent last month and they other pages were the reply from the Collection Agency

Thanks,
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 4246



130 Magic Points

 
Posted on Thu Jun 25, 2009 1:03 pm  

Lost boy, The statute of limitations for CA is 4 years on credit card debt. Up and until this expires you can still be sued for repayment of this debt. If they begin a lawsuit before the three years it will freeze the SOL. It appears the validation letter you sent was a proper one. Did you send it by certified mail so you can prove they received it.?
Without proper validation if they do try to sue you in court they can not win without the proper validation you asked for. Save any documents you have proving you asked for validation. I also would report this to the credit bureaus by disputing any marks on your credit. They then have 30 days to provide validation of the debt or it will be removed.
This also helps prove you asked for validation in case a lawsuit does happen.
I myself would also call the real creditor who issued this card and see if the debt was sold. If it is still in the hands of the original creditor then you could ask for a pay for delete and p[ayment arrangements. Old debt has a way of showing itself years down the line when you think it is a thing of the past. As the debt gets older it is sold off more and more. You would then expect non stop calls from the new owners of the debt and they will even try contacting family members. I would try to resolve this debt BUT only when validated.
lostboyca



Joined: 29 Dec 2008
lostboyca's page
Posts: 8



366 Magic Points

 
Posted on Thu Jun 25, 2009 3:39 pm  

fireyone

Thanks for the response.

1) I did send the letter certified mail and have a signature copy that they have recieve it.
2) I know I owe this debt but want to give it a shot to see if I can go around not paying them at all. Going through the motions
3) I called the real cerditor and they stated that it was sold to Portfolio Recovery Associates
4) The replied back and gave me an "Affidative of ownership and Sale of claim" which states that I owe the money and that "Capital one Bank" is who sold it to them. The letter did not answer the list of questions I sent on my Debt Validation

The Question
Since the "Affidative of Ownership and Sale of Claim" does not clearly answer my Debt Validation letter what do I do now? Should I send another certifed letter letter stating that they need to answer the questions on my letter? and wait 30 days and see what happens?

Thanks,

Lostboyca
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 4246



130 Magic Points

 
Posted on Tue Jun 30, 2009 12:49 pm  

It appears they do now own the debt. I personally have never dealt with an affidavit that you speak of. I know they use it to prove ownership for a vehicle and probably very well could use it in court for a claim. An affidavit is a sworn statement that would hold up in court.
If it were me I would call my atty general or court house to see if this document can hold up and if so get some type of repayment plan set up.
As we discussed before you are with in the SOL and they could sue you which could lead to wage and bank account attachments. Then you will not have the opportunity to set up repayment arrangements and may have to go by what a judge sets up.
lostboyca



Joined: 29 Dec 2008
lostboyca's page
Posts: 8



366 Magic Points

 
Posted on Tue Jun 30, 2009 4:49 pm  

So since you state that it is legal do you have any sample letters I can use to start with a payment plan and what is the lowest amount I should start my negotiation with?
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 4246



130 Magic Points

 
Posted on Thu Jul 02, 2009 12:01 pm  

You could look under the letters of credit section here at the forum. You could also try calling the original creditor and asking about getting the debt settled. Just the other day I was watching a special on my news channel about people defaulting on their debt and what to do.
It said that since their is such a high default rate credit card companies are willing to work with debtors to settle their debts for as much as half. This saves both the creditor from not getting the money but also saves the debtor. I would give them a call and see if I could start at getting it reduced by 50%.
With the economy being in bad shape they know they could end up having a expensive court battle so they are more willing to cut you a break. Your credit score may take a good hit but at least you would not have to worry about being sued.
Mike1
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Subject: Answer to Debt Summons
 
Posted on Wed Nov 23, 2011 12:35 am  

I answer the summons and send a debt validation letter on the same day November 22, 2011. What is the next step? Should I file for motion for discovery or that is the same as debt validation letter?
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