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frogpatch · Posted: Fri Apr 06, 2007 9:14 am Subject: Original creditor vs. third party

I was told that the Fair Debt Collections Act applies only to third party collectors and not to the original creditor. I have read through it and don't see that. Can someone shed some light on this. If I get a call from some person saying I owe him a lot more than I think I do. Do I not have the right to have that debt validated? Also does that mean he can harrass me because he is the "original lender?" It does not sound logical to me.

Posted: Fri Apr 06, 2007 9:43 am Subject:

I filed a complaint with the FTC against a CA, and in their response, the following was included....

Posted: Fri Apr 06, 2007 10:15 am Subject:

Original creditors do not have to validate. Their level of proof is called verification since they know who they have did business with. Since fdcpa does not cover these companies,you would have to dig deeper. The FTC regulates unlawful and deceptive trade practices.You could file a complaint under that. It is best to look at your state statutes for how they regulate companies involving credit & collection.

frogpatch · Posted: Fri Apr 06, 2007 11:50 am Subject: original creditor

Cashnetusa is claiming I took out a 1200.00 loan and still owe them 943.00. I took out a 600.00 dollar loan. My direct deposit did not go in and that caused a HUGE repeteive overdraft mess. These companies refused to stop the withdrawals so I froze the account. I will not accept the amount that this company says I owe. There must be a law to make them prove it. I do know that no one is allowed to call you if you send a certified letter telling them to stop. Original creditor or third party.

Posted: Fri Apr 06, 2007 1:34 pm Subject:

Ask CashNetUSA to give you the account statements for reviewing the balance. They should have no problems in giving you the details. Did you get the agreement copy before the loan was deposited into your account? It should clear up any confusion about the loan principal.

Original creditor or their internal collections dept are not regulated by the fdcpa laws. The laws are applicable only on third party debt collectors. They need to stop calling after you have sent the C&D letter

frogpatch · Posted: Mon Apr 09, 2007 6:06 am Subject: Original Creditor

Cashnetusa, when I asked for something in writing said, We're not going down that road." I asked if they were even licensed in Florida and they (she) said. "you took the loan in Florida so we must be.Let me get my manager." I said I could not have this conversation at work and she said, "you are kidding, have a nice day" and hung up. Then they called me at home on Easter Sunday. Can you believe the scum. I dod not answer. I have written them a letter but I am still not sure what my rights are. Everyone is nice and has an opinion or some factual info but nothing about the validation issue. If I say you owe me money and I say you don't there must be a law in place. What is it?

frogpatch · Posted: Mon Apr 09, 2007 6:14 am Subject: original creditor

I should proof read. Sorry

Posted: Mon Apr 09, 2007 7:14 am Subject:

Frogpatch, they called me like 5 times on Easter also. That is the only bill collector that called me yesterday.

Posted: Mon Apr 09, 2007 7:39 am Subject:

Frogpatch - What you should do is write them a letter stating that you need a copy of the original contract with your signature. Send this certified mail. If they don't respond to your letter with the contract, send a copy of the letter you sent them, along with a letter stating the situation to the Florida Dept of Financial Services. Per Florida law they have to provide you with a copy of the contract upon request. If they don't they can be fined.

Frogpatch · Posted: Mon Apr 09, 2007 8:47 am Subject: qriginal creditor vs

Thanks Goudah. I have two different addresses for them. Both PO Boxes. I will send one to both. Along with the C & D so they won't annoy me. Imagine calling someone on a Holiday. I don't care whether they observe it or not. Have some respect. Now they are in for a fight! Geneva Roth AKA Rio Resouces AKA MTE Financial dropped me like a hot rock when I fought back. They turned me over to a collector who is probably very sorry he bought that debt. The illegal one will drop you or try to settle right away. Cash Net tried to settle for the amount of the original debt by inflating what they claimed was the original debt. Thats a new trick! Thanks again Goudah!

Posted: Mon Apr 09, 2007 9:01 am Subject:

I still can't beleive they called on a holiday! That is just wrong . . . . I would mention that in your letters, just so that little tidbit is in writing. I don't know if the FDRS could do anything about the calling on holidays, but there should be a law against it, not just for third party collectors.

frogpatch · Posted: Mon Apr 09, 2007 11:49 am Subject: Original Creditor

So far as I know they can call any day they want but only between 8 AM and 9 PM. I have one that calls twice at about 8:45 pm. I do not know who they are. My ID just says "out of area". Do they really think I will pick it up? I can't believe that Sassnlucy got 5 calls from them on Easter.

Posted: Mon Apr 09, 2007 11:54 am Subject:

It just goes to show what kind of companies they are . . . . .

Frogpatch · Posted: Mon Apr 09, 2007 12:01 pm Subject: Original Creditor

I have an unrelated question Goudah. Why do these threads just suddenly end at times leaving a question just hanging, while others seem to go on for months? Also how do I become a member if I do not need to hire a debtconsolidation company? Thanks

Posted: Mon Apr 09, 2007 12:09 pm Subject:

Frogpatch, there won't be any counseling call for you and you will be a member on the board. Do a community sign up here with your name and email address.

Posted: Mon Apr 09, 2007 12:14 pm Subject:

I think it all depends on what people respond to. I can say for myself that I don't read every single thread. Sometimes there is a bunch of posts, so threads get pushed off the first page, making it harder for people to find. Others go on for months because people keep posting to the thread. Everytime there is a new post the thread moves to the top of the list.

To sign up as a member you have a couple options. If you want a debt counselor to call you (at NO obilgation) go here: http://www.debtconsolidationcare.com/signup/

If you want to sign up and just be a member go here
http://www.debtconsolidationcare.com/community/signup.php

Either way you don't have any obligation to hire a debt consolidation company. The first way to sign up you are only contacted by one to review your options. The second way to sign up is just that, you sign up as a member. Then you will have access to PM's and you will earn points for your posts.

You can also look at the right hand side of the page. In the column there should be a sign up link.

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