Debt Validation letter - Now What?

Check your latest credit copy. You will know whether Asset Acceptance is reporting in your file with genuine info. This might help in understanding that they have your file. Don't use the SOL factor because Asset Acceptance is now the current creditor who can try for wage garnishment. If they get the judgment before the SOL expires, you will have to pay them through court.

You must surely get your debt validated before sending money. Dispute the info they have given to you and tell them that you need more info that confirms about their authorization. There are less chances of getting every small detail from the collectors. It sounds that they have your file if they can provide the basic info. Propose a 'settlement' amount and try to pay it. I consider this might be the right move for you.

A side note: Be careful with Asset Acceptance. Majority of the people have put their horror stories about AA. Go to this link

I am the orginator of the message above. I think this site is so wonderful that I just signed up to be a member.

I wanted to ask if I can sue Asset Acceptance for sending me a letter trying to collect on the debt when I asked them in the validation letter to stop contacting me? If so, what do I need to do to file formal complaints on them and then possibly take them to court?

I was cleaning up my credit report back in 2003 and they were reporting back then. I just checked it a few months ago and Asset Acceptance is no longer ANYWHERE on my credit report. What does that mean?

Asset Acceptance or any other collection agency has the rights to report in your credit file only if they have your info. It is a violation of the federal law if some company is trying to report inaccurate negative hurting your credit potential. You need to get your debt validated by them before taking any actions. If they don't respond to your first DV letter, send a follow up letter. At the same time, check your credit report now if they have entered something suspicious. You will get a chance of a lawsuit only if they are violating the laws that are mentioned in the fdcpa. Here is the link about your federal rights dealing with a CA.

http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm

But that's what I just said. They are NOT reporting ANYTHING on my credit report right now. There are no marks on there by Asset Acceptance. AND, if you would have read my whole post, I did ask for validation, my question is, is what they responded with enough?

I really need to know, what am I supposed to do next? Do I have a case against them since they have contacted me regarding this debt after I sent the DV letter? Did they supply enough info, or is it not enough and I have a chance at winning if I go to court? I need help. I am VERY new at this and need to know before it's too late what I can do. Do I have a chance at fighting this?

Mattisimous . It is good to see someone excited about finding this and knowing how to handle debt stuff now. If you only knew two years ago what you know now about debt collection laws and other things, you probably would not have set up that $25 payment. Unfortunately, by doing that you did restart the clock. Now you would never make a payment without proper dv, right? See how much better off you are already? Just a little positive thinking

Still no one has answered any of my questions.

Thanks for the support, but I feel like I'm running out of time. Is there someone out there that can answer my questions? Is what Asset gave me enough (legally) or do I need to write another letter requesting more info? And if so, how should that letter be written?

So Matt,your last payment to them was when? I don't know if I understood you,they contacted and set up payments,did you make any? The date of last activity is when the SOL clock runs. As for your question,Since you wrote the DV letter,you know what they are required to supply to you,it's all spelled out in the DV letter. Write them a follow up letter to validate(see sample letters),and see if they do. I would also mention in the follow up that they have contacted you,which is not allowed until validation.Good Luck ...Karen

You asked AA to validate the debt. They didn't give you the complete info and total also sounds to be disputed. Now, you should dispute on the information given to you. Point out the things in your letter that makes the debt fully validated.

http://www.debtconsolidationcare.com/validation.html This link guides you with the info you need to ask from them. Who is the original creditor? Another option is to contact the original creditor and work out something with them.

Thanks Everyone. That helps. I just needed a little direction. I had no idea if what they sent me was enough to verify the debt. I'll send another letter. Should I point out what they gave me and what they did not?

Mattisimous. Rome wasn't built in a day. And credit situations are not fixed in a day or two either. Continue to ask questions here and be patient. Your not running out of time!

When I sent a follow up letter regarding my dv, I sent them a copy of my first letter,and also told them they have not suppied me with (list examples of what was not given).Hope this helps...KAren

So, I sent another letter to AA saying that they needed to supply the complete information and included the original letter I sent, AND the response they sent and tomorrow will be 30 day since I sent the new request. What are my options now once they pass the 30 day mark? Or do I have any? Do I just wait to hear from them, or do I dispute before I hear from them? Is this a good sign?

In addition to above, I am getting letters to " pay now and save even more" saying they will meet $.50 to every dollar I send them. Is this in violation of the DV letter I sent (which is the link ai have above word for word except for the personal info)? If so, they have done this twice and from what I read I can sue them for $1000 each instance. Please let me know.

Gimme a break. I don't think you have any grounds to sue the collection agency.