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Posted: Mon Jun 16, 2008 1:40 pm Subject: Debt Validation ?

When a debt collection agency responds with the debt validation letter what kind of information should I be looking for?

Posted: Mon Jun 16, 2008 2:05 pm Subject: reply

you should look for these things.

1)original paperwork from original creditor
2)something showing the CA has license from
original creditor to collect on debt.
3)a license to collect period.

there may be more but those are what i call
the big three of validation.most bottomfeeders
can't provide those so they either commit fdcpa
violations,or sell or give back the debt.

Posted: Tue Jun 17, 2008 12:16 am Subject:

Dear Mare,

You should look for the following information in a response to a debt validation letter: -

1. Amount of money owed by you to the collection agency
2. Method adopted by the CA for calculating the outstanding debt amount
3. Copies of the paper-works that show the agreement between you and the creditor where you pledged to pay-off all the outstanding debt that they claim
4. Identification of the actual creditor
5. Show proof of license of the CA for collecting debt in the debtor’s state
6. Provide information of the fact whether SOL has expired
7. Provide license numbers of the CA and the registered agent

Regards,

Phoenix

Posted: Tue Jun 17, 2008 2:56 am Subject:

Yeah, and along with they should also mention

Amount owed
Amount outstanding
Date of the last activity or DOLA
Account statement from the original creditor
Copy of the document that proves that they are authorized by the original creditor to collect the debt.
Copy of the original loan agreement that was signed between you and the original creditor.