Validation letter sent...what comes next?

There is a 30 day timeframe for the collection agencies to reply to your debt validation letter. If they have not given the details within the specified time and have hit your CR, you must dispute with the CRA with copies of your proof sent to the CA. Show them the copies of CMRRR no. when you sent the letter.

The CRA must involve themselves to verify the matter and remove the item if found incorrect. At least if they don't remove the item, it should be marked as 'disputed'.

It's your credit ratings that should not be affected by some item that has no valid purpose. You must follow up with the CRA until your credit file is actually presented in the accurate way.

Well, the accounts are valid, except for the amounts owed have gone way up...for instance..one of my credit cards had less than $500 on it when I went delinquent, now I am getting letters from a CA saying that I owe $1018. That is mainly why I want to validate it, to make sure the CA and amounts are legit for my accounts, not that I want to dispute that I actually owe money.

In this case, have you talked to your original lender and get information about your past debt? They must have hired some CA to collect money from you. So, they can help you with some information.

If the account is still with them, you can make arrangement with them and pay it off. Your debt will be stopped from increasing further.

I called on the one I was talking about that is now $1018 and believe it or not, they told me that the account was sold and that they could not tell me what the amount was at the time it was sold...strange, don't you think. OC was capital one, and they are unable to give me specifics on my account. Doesn't sound right at all. Makes me wonder how they will validate the debt for me.

This is quite strange to hear from a credit company not knowing the amount when the account was sold off. This simple info must be in their system. They can give this info if you force some legal pressure here if they understand that language only.(just got annoyed while writing this line) If you are getting this done, make sure that you get the date of last activity in your account. It will be used to understand if the debt is within the SOL period. And the date of first delinquency to understand the stay in your CR as per the FCRA

OK, if the account has been sold out, then you will have to wait for the company holding the account legitimately. The details given by Capital One needs to be compared with the details given by the CA and proper validation should also be requested from the CA. A perfect example is one of our fellow member, Shirley, who is going through similar problems on her accounts.

You are willing to pay the debt and this is most important. What can you do if the company is not presenting the debt with the proper details?!! You can't let your money go into waste and later being contacted by some other co. for the same account. Slowly, this account will go out of the SOL period and the 7 year reporting period as per the FCRA if it continues like this.

What is even more funny about it, the letter I recieved from the CA says I can either pay them or pay Capital One directly...makes it sound like it is an internal CA for Cap One. So I offered to make payments to Cap One...they said that the account has been sold...therefore Cap One can only take payment in full for the account, otherwise payments need to be sent to the CA. That is very strange too. If it has been sold..Cap One should not be able to take ANY money. The CA, of course, does not accept payment arrangements....suprise..suprise!!

I would have taken some legal consultation here because Capital One is making things quite complicated. If the debt is sold to outside collection agency, they should not accept money from you. On the other hand, the CA is also acting differently by saying to pay any of the two. Whereas, Cap One says that the account has been sold. There is some error in between!!

Actually I did...I handed this account over to the attorney that is handling some of my other accounts. So, I have cut all contact with them. I gave my attorney's phone number to the CA (the infamous allied interstate). Have not heard from them since.