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OK,
This now has me wondering.
What is the difference between Verification of a debt versus the Validation of a debt?

I sent a letter to NAFS, asking for Validation of the claim they were making. I got a reply back, stating that Verification was enclosed.

In my letter, I specifically stated:

Please provide me with the following:

1. What the money you say I owe is for
2. Explain and show me how you calculated what you say I owe
3. Provide me with copies of any papers that show I agreed to pay what you say I owe
4. Provide a verification or copy of any judgment if applicable
5. Identify the original creditor
6. Prove the Statute of Limitations has not expired on this account
7. Show me that you are licensed to collect in my state
8. Provide me with your license numbers and Registered Agent

Interesting as it is, they provided VERIFICATION of debt, but totally FAILED to address the above requirements! Aren't they required to provide me with said info when specifically asked?

Information appreciated.
Thanks.

Posted: Fri Aug 24, 2007 8:59 am Subject:

From what I hear this is a typical tactic...as far as most are concerned simply regurgitating their own info (and some they could have gotten from your credit report).

I think (not 100% sure) that verification is what the credit reporting agencies do and that is to match up info.

Send this company another letter informing them that they sent you no such validation and regurgitated info does not constitute as such! Are they reporting on your credit report? If so, after you send your 2nd letter, dispute with the credit reporting agency....if the company verifies with the CRA then you have them on a violation and you have a bargaining chip. Smile

Hmm..also check to see if they are legally able to collect, make them prove they either own the debt or are acting on behalf of the original creditor.

Posted: Fri Aug 24, 2007 11:17 am Subject:

Verification tends to be name address match with maybe gender and dob support.Validation is demanding proof that the debt is legally yours and that they are approved to collect on it.

Guest · Posted: Fri Aug 24, 2007 11:40 am Subject:

Based on the info so far, looks like NAFS completely and totally FAILED, and knowingly/willingly FAILED to provide proper validation.

Gonna send a second notice, requiring proper validation.
And that I do not consider their reply to be acceptable.
I'm sure I'll find a way to pi$$ 'em off, if given the opportunity!
Thanks again.

Posted: Fri Aug 24, 2007 12:00 pm Subject:

Cajun is right, verification for me was, a piece of computer generated paper typed up with what they wanted me to know. I sent them a copy of my first letter, and another letter saying it was not properly validated.Some do this because they are unable to fully validate!

Good Luck--Good to see you again!!..KAren Very Happy

Posted: Fri Aug 24, 2007 4:13 pm Subject:

Yes, cajun is right. If it is a purchased debt, they probably don't have anything to send you which would prove the validity. In a follow up, I'd tell them that when, or if, I decide to litigate against them, the truth will finally come out when I get some people under oath and start taking some depositions.

Posted: Sat Aug 25, 2007 4:36 am Subject:

If the poster wants to read up on validation,go to this post.Myself and Lawstudent had a discussion on this subject with case cites.

http://www.debtconsolidationcare.com/collection-agencies/debt-validati on.html

Posted: Mon Aug 27, 2007 12:39 am Subject:

Most collection agencies and/or debt buyers are falling way behind the savvy of the modern debtor. They "verify" that they simply have an alleged debt with your name, address and phone number attached. Follow cajun's advice and link for more.

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Verification of debt VS Validation of debt

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