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Should I send debt validation

Date: Wed, 03/22/2006 - 08:23

Submitted by anonymous
on Wed, 03/22/2006 - 08:23

Posts: 202330 Credits: [Donate]

Total Replies: 12


I am reviewing my credit report and am considering sending debt validation letters to collection agencies. I have been reading that they can turn around and sue you for the debt. Is this true, and what procedues should I follow to validate the debts and avoid court? I am divorced in the state of TX and my ex managed to run up a lot of debt on our credit cards before I figured out what was going on. Any advice?


KK,

As per my understanding, if you send debt validation letter to collection agency, they cannot start collection activities without validating the debt. However, there is no time limit to validate the debt.

IMO, you should collect a debt validation sample letter from this site, make suitable changes and send it certified with return receipt requested. Don't forget to keep copies of the letter and preserve the return receipt also.

You can also contact your creditor to inquire if they can accept payment from you at this stage.

Have you checked SOL of the accounts? If they are past SOL and going to get off of your credit report very soon, I will suggest not disturbing the system. Keep us posted.


lrhall41

Submitted by stanley on Wed, 03/22/2006 - 11:16

( Posts: 1639 | Credits: )


Thanks Stan. How can I find out exactly what the SOL is? Also, if I send out validation letters to the collection agency and there is no time limit for them to respond, how long do I have to wait before I can write the the CRAs to ask they be removed? Lastly, when you ask if they wil be off of my credit report very soon what time frame would you consider that to
be and why should I not disturb the system? Does that extend that time the things are on my report? I am very, very new at this and appreciate your help.


lrhall41

Submitted by on Thu, 03/23/2006 - 07:49

( Posts: | Credits: )


It is not that they cannot try to collect after the 4 years but that you have some legal ground to fight them on it.

Oh believe me there are agency's out there that will try and bring up something from 20 years ago. They will prey on people's lack of knowledge and fear.

It is your responsibility to bring up the defense of SOL in court if need be. If it was to go to court past the SOL and you have judgement rendered against you then the SOL will not matter.

Hope that helps

Tim


lrhall41

Submitted by TimB on Thu, 03/23/2006 - 09:34

( Posts: 48 | Credits: )


That is so true Tim. I have read here in the forums about debts that were out of the SOL and the creditor sued and judge ruled for the creditor even though it was out of SOL. Its thought that debt can not be collected outside of the SOL--but it can be. So alot of people put emphasis on the SOL but it still can come back to bite you.


lrhall41

Submitted by imkimssister on Thu, 03/23/2006 - 09:41

( Posts: 1301 | Credits: )


Is it harder for them to collect outside of SOL? I guess the thing is that nobody is bothering me at this point but I would like these things off of my credit report. I don't want to stir up trouble with them by disputing things. Do they usually go after you?


lrhall41

Submitted by on Thu, 03/23/2006 - 10:04

( Posts: | Credits: )


KK,

Tim and Shirley already have responded to some of queries. Let me add few more points here.

Unfortunately there is no such time frame for collection agencies to validate the debt. But if you place a written request for debt validation, they cannot start collection activities without sending validation. Few members have sent second request if there is no response from the CA. And if the second request turns to be fruitless, you can ask credit bureaus to get it off of your report.

Now credit bureaus must respond to you within 30 days, otherwise you can ask them to delete the item because they failed to investigate.

Tim was right with SOL. If a debt is past SOL, creditors can still sue you. Then you have to appear in the court and ask the judge that the SOL has expired so you are not obliged to pay it. If you fail to appear in the court room, creditor might win the judgment. SOL is a legal tool, that's it.

http://forums.debtcc.com/forums/sol-discussed.html


lrhall41

Submitted by stanley on Thu, 03/23/2006 - 10:36

( Posts: 1639 | Credits: )


I disputed the things on my credit report but the collection agency reported back that the debt is valid. It is not because it is being reported on my credit report as being included with bankruptcy which I have never filed. I don't know how they could have possibly advised the debt was mine. What proof are they required to provide that the debt is mine and what should my next step be after they have confirmed with the credit bureau that the debt is mine?
Thanks-


lrhall41

Submitted by on Thu, 03/23/2006 - 10:44

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Quote:

It is not because it is being reported on my credit report as being included with bankruptcy which I have never filed.


How the account is exactly reported in your credit file? It seems that it is under collection. Then there is no reason for this account to be listed under bankruptcy especially when you did not file bankruptcy ever.

This should be rectified and you have to dispute it with credit bureaus. Is the same mistake there in the reports from all the three bureaus?

And what should be the exact status of the account as per your understanding? Is it really delinquent? How much amount is outstanding? Keep us posted.


lrhall41

Submitted by stanley on Thu, 03/23/2006 - 12:54

( Posts: 1639 | Credits: )


Thanks so much Stan...the incident is only on my Experian report and it says
status: Debt included in Bankruptcy/Collection account.
The actual status on this is that it is NOT my account. I do not know how it got on my record and how the collection agency validated it to the credit bureau. That is why I am wondering what proof is actually required by the credit bureau to validate that the debt is mine. What are they giving them?


lrhall41

Submitted by on Thu, 03/23/2006 - 14:02

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