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Posted: Sat Jul 22, 2006 7:23 pm Subject: Trying to Clean Up

Like most people I know, over the course of my early adult years I've acquired enough debt to make it confusing when i look at my credit report. I'm not entirely sure which debts are mine and which are not, and while looking up the various companies listed as creditors on my credit report, I'm beginning to feel some pretty major concerns. There's been a class-action law suit filed against one creditor, and three others have been accused of very dubious practices.

I frankly refuse to pay fees to a credit collection agency when the majority of them make money from the creditors for collecting th emoney. So i decided my best course of action would be to contact the original debtors to work out payment arrangements. However, on the credit report, the account numbers aren't listed, just my name. I have no idea who these collections people are, and I am frankly a bit afraid to contact a single one of them before I verify these debts. I'm fairly hesitant (and I believe with good reason) to send my money to someone whose name I do not even recognize.

At least a few of these companies appear to be legitimate collection agencies, as they've been kind enough to send the information they have on me, including the name of the company they bought my account from. But some of the debts are very old and have been sold a few different times.

I think this is the most sarcastic fun I've ever had.

Posted: Mon Jul 24, 2006 4:25 pm Subject:

Don't worry! The collection agencies are bound to follow the legal collections mentioned in the fdcpa. If they go outside their legal lines, report them to the SAG, FTC as well in the BBB. You will get the legal cover. Call each of these companies and ask for debt validation since they have taken your file from the credit companies. You have to get something in writing from these companies before making the payments. If you don't get anything in the mail, send a debt validation letter to their mailing address. The CAs will be bound by laws to honor your validation request. If they don't come up with the details, try dealing with the original creditors after getting information from the CAs. Some useful links will guide you in the better direction.

http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm#809

http://www.debtconsolidationcare.com/validation.html