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Debt with financial company passsing from one CA to another

Date: Thu, 10/27/2005 - 12:28

Submitted by imkimssister
on Thu, 10/27/2005 - 12:28

Posts: 1301 Credits: [Donate]

Total Replies: 10


I have two rather large accounts with a Financial company that keeps going from CA to CA. It seems that everytime I ask for validation, it gets passed on to someone else. now 'encore' has it. I wrote them over a month ago, asking for validation and I haven't heard anything back. one account is over 2,000 and the other over $4,000. And as I said, everytime I ask for validation, I don't hear anything for several months and when I do, its on to someone else. whats my next move? should I write them again or wait it out? after what just happened to me with sams club, I'm getting a little paranoid. I mean, could I just not hear anything and the next thing, I find that I have a judgement against me, or a server show up at my front door with court papers? or will I start hearing more threats first or it be passed on to a lawyer? how far can a CA go? they could put it back to the original creditor and they pass it to a lawyer? I mean, most likely, would I hear something first from someone before it goes that far, or does it just happen? thanks, shirley


Shirleybedford

At this point of time, is this account appearing in your credit report? If is seen, then you can contact the CA appearing in your report and request for validation. Send this letter certified so that you are able to prove later that you have every intentions to pay it back.

If a CA is not shown in your credit report, then you might have to wait for some till some agency contacts you and request for payments. Get the debt validated before you update your personal information with them.

Legal actions won't take place all of a sudden. Their is a legal procedure of everything and the court will hear your part too. When you will be showing the certified mail return receipt requested serial number, the collection agency was required to make the next move which they failed to do.

Judgments are issued by the creditors only after they have got orders from the court. It can't come to you on one fine morning just like that. You will be asked to appear in the court and say your part. Hearing both the sides, the court will take decisions. So, it will be wise pulling your latest credit report and check the latest standing of your financial situation.


lrhall41

Submitted by ben on Thu, 10/27/2005 - 12:42

( Posts: 2034 | Credits: )


Quote:

At this point of time, is this account appearing in your credit report? If is seen, then you can contact the CA appearing in your report and request for validation. Send this letter certified so that you are able to prove later that you have every intentions to pay it back


yes, these accounts are on my credit report, but by original creditor only. Not from the many CAs that they've been through.
I have sent validation letters out to CAs, then don't hear anything, a few months later, I get a letter from a different CA wanting the money. I send them a validation letter, then nothing--a couple of months later, its another CA. same song and dance. The last one, I wrote over a month ago asking for validation. nothing so far. I didn't send it certified though.

I really don't want a court hearing. I want to get this settled between me and CA, but I really shouldn't or can't make a move until they validate? I'm not disputing that the debt is mine, but want the run down on what I owe exactly and what they say its for. thanks shirley


lrhall41

Submitted by imkimssister on Thu, 10/27/2005 - 12:58

( Posts: 1301 | Credits: )


Quote:

I want to get this settled between me and CA, but I really shouldn't or can't make a move until they validate?


It is very nice that your credit report has not been hit by any collections so far. But at the same time, it is sad that the actual CA holding your debt is not validating it.

Sending a debt validation request through certified mail and return receipt requested is very important. Go ahead and make your solid move. This will leave valid reasons to prove your positive approach in paying the debt.

You won't get any court orders until the debt is validated and the certified receipts will actually prove it.


lrhall41

Submitted by ben on Thu, 10/27/2005 - 13:48

( Posts: 2034 | Credits: )


Shirley,

As Ben said, send your debt validation request through certified mail and this will prove your actions taken to pay off the debt. Please do not get scared while contacting the collection agency otherwise they will try to intimidate you. You are doing every needful thing to keep yourself in the stronger side and the situation is completely in your favor.

After sending your request, the ball will be in the court of the collection agency and then it is their legal responsibility to present the true picture of your debt.

Take care and keep us informed :D

Regards
Roxette


lrhall41

Submitted by roxette on Thu, 10/27/2005 - 17:12

( Posts: 4009 | Credits: )


Thank you! I will go ahead and draw up another validation letter for these two accounts, pretty much the same one as before because it covered everything, only this time, send it registered.
Since these two accounts are with the same company, is it alright to send one letter with both account numbers on it and sent in one registered envelope? or should they be two separate letters with separate envelopes? thanks! shirley


lrhall41

Submitted by imkimssister on Thu, 10/27/2005 - 18:59

( Posts: 1301 | Credits: )


Shirley,

It won't make much difference if you specify the two accounts in the same validation letter and send it certified. But I will prefer different registered envelopes so that I get a track of each one. Thinking about the situation when one dispute gets solved and waiting for the other one in the process.


lrhall41

Submitted by roxette on Fri, 10/28/2005 - 12:28

( Posts: 4009 | Credits: )


so validation isn't getting me anywhere. what I'm saying is no one is responding. Except for one CA who sent a photo copy of last six months worth of payments made in 2003. sent them another letter asking again for validation, then wrote original creditor and told them that I didn't like the way I'm getting jerked around. They said they're no longer services the account and are unable to provide me with any info. Now do I have something to go to the credit bureau with??? shirley


lrhall41

Submitted by imkimssister on Thu, 11/17/2005 - 13:21

( Posts: 1301 | Credits: )