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 Posted: Thu Mar 23, 2006 2:58 pm Subject: Do Payday lenders have to respond to validation letters |
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I have sent out validation letters but I have read postings from many others here who have done so also. Do they legally have to respond to the debt verification letters or not?
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iloveteaching
Joined: 12 Mar 2006
Posts: 150
Location: Florida Debtcc Points: 2073
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| Posted: Thu Mar 23, 2006 4:19 pm Subject: |
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If I understand correctly, since they are the actual "lender" they don't have to. But I could be wrong.
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Jessi
Moderator
Joined: 01 Dec 2005
Posts: 3461
Debtcc Points: 20239
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| Posted: Thu Mar 23, 2006 4:21 pm Subject: |
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That bites. I wonder why.
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iloveteaching
Joined: 12 Mar 2006
Posts: 150
Location: Florida Debtcc Points: 2073
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| Posted: Thu Mar 23, 2006 5:59 pm Subject: |
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Jessi is right. debt validation is a part of fdcpa and FDCPA does not include original creditors. However, consumer protection laws of your state might give you some support against them.
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stanley
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Joined: 30 Sep 2005
Posts: 1714
Debtcc Points: 253
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| Posted: Fri Mar 24, 2006 4:02 am Subject: |
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Most probably will not respond to validation requests. They have not done so in my case, only a few. Are you able to get a history from your bank statements?
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CowampChicken
Joined: 20 Dec 2005
Posts: 3681
Debtcc Points: 36192
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