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Did I do the correct thing?

Date: Thu, 04/26/2007 - 16:22

Submitted by budmas
on Thu, 04/26/2007 - 16:22

Posts: 11 Credits: [Donate]

Total Replies: 3


Hi, Everyone. Back in January, I received a collection letter from CBCS. I responded back with a letter of validation. I sent it certified mail and they never responded to me. Fast forward to present time... I'm trying to buy a home and due to certain items on my credit report, the loan office called me and we did conference calls with the various creditors that were on my report that I said I had no idea or that I disputed. They were doing this in order to see if I still qualify for my loan. Either way, CBCS still has the collection listed in my credit report and when I called to verify, they did have my name, social and birth date. Problem is, they still couldn't tell me when it actually started since they bought it from Asset Acceptance. They could only tell me how long it's been reported. In my original letter to them, I asked them for proof that the debt is mine and for any contracts that I have signed or agreed to that I would pay this amount and how they came up with the amount it..etc. Well, since they hadn't done anything with it, I emailed the Attorney General for my State with a copy of the letter I sent to them and the tracking number for my certified receipt from the post office. My question is, since they do have some of my information, this still doesn't constitute valid proof does it? And was reporting them to the AG the right thing to do at this moment? Oh, I forgot to mention that in about a year, this debt is to be taken off my credit report anyway, should I just let it ride?

Budmas


How is the loan office reacting to you when they know that CBCS doesn't have complete information about your debt? They should be fair enough to understand that when you have asked for the debt validation from the collection agency, you are not responsible to pay until all the details are given to you. Chances are that you might pay to the wrong company because of not having the necessary details. Besides, you have already asked for the help of the AG in looking into this matter. You have done this right. Put everything nicely to the loan supervisor.


lrhall41

Submitted by BKP on Thu, 04/26/2007 - 16:46

( Posts: 239 | Credits: )


Sounds like you did the right thing. It also sound like this might be a debt on which the SOL has run (unless you live somewhere like Ohio). They have a debt on your credit report which they haven't validated and have offered no proof. These companies generally cannot validate a purchased debt, because they don't have anything (as far as proof). I would tell that to the credit reporting agencies, as well as the owner of the debt. I would also think about suing both the debt owner and the CRA.


lrhall41

Submitted by Law Student on Thu, 04/26/2007 - 19:19

( Posts: 1182 | Credits: )