Collection Calls
Date: Thu, 08/24/2006 - 12:43
Have you talked to any of them to see who they are supposedly co
Have you talked to any of them to see who they are supposedly collecting for? I think that needs to be your first step, they may be junk debt collectors trying to collect on nothing.
I sent all of them a debt validation letter and only one respond
I sent all of them a debt validation letter and only one responded. I didn't think it qualified because all it said was the amount that I owe. It didn't say who the original creditor or any dates.
I also told them to stop calling me and they still continue to h
I also told them to stop calling me and they still continue to harass me.
brendacovey Quote:I sent all of them a debt validation lette
brendacovey
Quote:
I sent all of them a debt validation letter and only one responded. I didn't think it qualified because all it said was the amount that I owe. It didn't say who the original creditor or any dates. |
Your next move -> Send a dispute letter. There is a condition in the federal laws that if you don't respond to the CA's validation, it's understood that the debt is valid and you are required to pay them. You have 30 days to send the dispute letter from the date they validated.
For others who have not validated your account yet, keep the green receipt of the certified mail in safe corner. You might need it later to prove your part of actions.
Most pdl's don't report to regular credit reporting agencies and
Most pdl's don't report to regular credit reporting agencies and that's actually a good thing. Even if pay them off on time and in full, a payday loan can only hurt your FICO score. (The way the score is calculated causes an anomaly when loans are of extremely short duration. Even good credit behavior causes the FICO score to drop.)
PDL's have their own credit bureaus, such as Teletrack, DP Bureau and PRGC. You may want to contact one of them (Teletrack is by far the most prevalent) and see if you can get a copy of your report. It should have detailed info about the loans you're getting called about.
Quote:There is a condition in the federal laws that if you don't
Quote:
There is a condition in the federal laws that if you don't respond to the CA's validation, it's understood that the debt is valid and you are required to pay them. |
This is incorrect, the laws is actually silent. Most collectors simply state that if you do not respond they will assume the debt to be valid, they have no legal backing for this assumtion
[quote]???? 809. Validation of debts [15 USC 1692g]
(a) Within five days after the initial communication with a consumer in connection with the collection of any debt, a debt collector shall, unless the following information is contained in the initial communication or the consumer has paid the debt, send the consumer a written notice containing --
(1) the amount of the debt;
(2) the name of the creditor to whom the debt is owed;
(3) a statement that unless the consumer, within thirty days after receipt of the notice, disputes the validity of the debt, or any portion thereof, the debt will be assumed to be valid by the debt collector;
(4) a statement that if the consumer notifies the debt collector in writing within the thirty-day period that the debt, or any portion thereof, is disputed, the debt collector will obtain verification of the debt or a copy of a judgment against the consumer and a copy of such verification or judgment will be mailed to the consumer by the debt collector; and
(5) a statement that, upon the consumer's written request within the thirty-day period, the debt collector will provide the consumer with the name and address of the original creditor, if different from the current creditor.
(b) If the consumer notifies the debt collector in writing within the thirty-day period described in subsection (a) that the debt, or any portion thereof, is disputed, or that the consumer requests the name and address of the original creditor, the debt collector shall cease collection of the debt, or any disputed portion thereof, until the debt collector obtains verification of the debt or any copy of a judgment, or the name and address of the original creditor, and a copy of such verification or judgment, or name and address of the original creditor, is mailed to the consumer by the debt collector.
(c) The failure of a consumer to dispute the validity of a debt under this section may not be construed by any court as an admission of liability by the consumer. [/quote]
LCW: Does this mean that if the CA does not send me anything in
LCW:
Does this mean that if the CA does not send me anything in writing, then I don't have to pay? I am confused. I've been sending requests for debt validation and I have only received one. What am I supposed to do about the ones who don't respond? Keep ignoring there calls.
No, It does not say you dont have to pay. If you signed a contra
No, It does not say you dont have to pay. If you signed a contract then you are legally responsible to repay the prinicpal plus any intersts or fees as allowed by law. IF you know a debt is valid ( like you have the origianl contract) you can ask for validation or more specifically how they calculated the anount they are trying to collect, but in th emean time you need to start woring out how to repay your legal obligation.
Do you have your original contract?? All that says (in response to Anthony's post) is that failure to respond to a dunning notice from a collection agency within 30days does not legally imply liability for the debt.
Original Creditors are not governed under the fdcpa. most reputable original Creditors will gladly provide copied of documents like contracts, etc upon request.
I know that i have to repay these. But i don't even know what th
I know that i have to repay these. But i don't even know what these are for. And i don't know how to find out if these ca's do not send me a validation letter. There is nothing on my credit report that corresponds to any of these companies that are contacting me.