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 Posted: Fri Feb 17, 2006 1:11 pm Subject: Question about letter of validation |
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I have recently recieved a letter from a lawyer stating he planned to sue for a outstanding debt I have. This debt is getting old and I believe might be past the SOL date. I have tried contacting the original company that gave the loan to find the out the date of last payment and they will not give me any answers, only tell me to contact the collection agency that is handling it. Does anyone know if this is the correct way to obtain this information? Should I send a letter of validation to the collection agancy or to the lawyer that is now contacting me? Also, does anyone know if the SOL date starts for the date of last payment or from the date the account was charged off??
Thanks you so much for you time!!
_Heidi
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HeidiK
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| Posted: Fri Feb 17, 2006 2:54 pm Subject: |
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Hi Heidi
Welcome to the forums.
SOL on a particular debt applies from the date of last payment made in the account. It might be different from the date the account went into charged off status. You have to consider the last payment made on this account and the state where this account took place for considering the SOL period.
Obtain the complete information by pulling the latest copy of your credit report. This will give you every detail about this account. If you want to get the information from your original creditor, contact them in writing. They must honor you with the requested information in writing. If they don't give it, you have copies to prove your part and the company's unwillingness to give you any info. Use a registered mail with return receipt requested for ensuring mail delivery.
Use your legal rights while dealing with the lawyer contacting you. Under the federal laws, you must be given the validation details about your accounts. It must clearly specify the total amount of the debt along with the interest calculations. Also, it must be clear from the document about the creditor for which they are collecting. Validation letter will only prove if the lawyer is making any genuine call to you. You will also know the SOL period in your state through this letter. Frame your validation letter keeping the following points in mind:
http://www.debtconsolidationcare.com/validation.html
If they don't give you any info, write to your original credit company explaining the whole situation. Give your letter some legal importance so that the information gets delivered to you in accurate shape. You will be taking all the steps by having everything documented. This will serve the purpose for proving facts in case the matter is taken to the court.
Regards
Roxette
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roxette
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