Validation Letters
Date: Wed, 03/25/2009 - 13:42
I only started looking at this website yesterday (great info btw). Was wondering what the overall purpose of the validation letter is. I noticed that people say to use it a lot.
I am working on repairing my credit and have one CA that has been calling a lot as of last week. no other info except to call them, never heard of them before and have gotten no mail from their company.
Before i start a settlement negotiation with them should i send a validation letter so that i know what they want first? All the templates i see say "i saw you on my credit report' but i didnt, so is it the right thing to do??
Thanks
I am working on repairing my credit and have one CA that has been calling a lot as of last week. no other info except to call them, never heard of them before and have gotten no mail from their company.
Before i start a settlement negotiation with them should i send a validation letter so that i know what they want first? All the templates i see say "i saw you on my credit report' but i didnt, so is it the right thing to do??
Thanks
Hi Dane, Certainly, if you don't know about the debt, most de
Hi Dane,
Certainly, if you don't know about the debt, most definitely ask them to validate it first.
While it is probably true that many people may request validation in order to delay collection proceedings, mainly it is done to disclose extra fees that may be tacked on to the debt to see if the creditor is legally allowed to charge those fees.
Obviously, if you are in default on $400, how can they expect you to pay $900 (example)?
The letters on this site are only templates, i.e. suggestions, of course you would adjust them for your personal situation.
Hope this helps,
chrys
