Disputes: What is Debt. "Verification"
Date: Sat, 07/15/2006 - 12:51
Apparently an account that we closed was sent to collections for $ owed after we closed it five years ago. We disputed it. Equifax just sent us a letter that the debt. was verified. When we contacted the collections agency, they said they didn't have any documentation from the original creditor (PacBell/AT&T). The attitude is that we'll send you something when we're good and ready and that they weren't under any obligation to do so in any time frame.
I don't get it? How can a debt. be verified with no proof and remain on your report. Is verification simply a credit agency confirming that they have you on their list of people to get $ from? Aren't I at least entitled to see a summary of charges? Its as if the collection's agency is saying you owe money because we say so and there's nothing you can do about it. What can be done about this?
Nothing can be done about it really.. had the exact same thing h
Nothing can be done about it really.. had the exact same thing happen to me.
Its up to you to fight for your credit back on your time and dime.
mceric-welcome to the forums-please join the forums and take adv
mceric-welcome to the forums-please join the forums and take advantage of what there is to offer. Also a debt counselor will contact you about your financial situation,it's free too. As far as the debt validation-you need to send a request for debt validation to the collection agency-return receipt,certified. Do all your correspondence this way to have a record for yourself. If you will look in the forum postings,you will find a tremendous amount of infoo on Debt Valid.,and what they are supposed to send you,amount owed,fees,etc. Best of luck-keep us posted...Karen
The collection agency cannot report any item without legal infor
The collection agency cannot report any item without legal information. If they have hit your credit, there must be valid reasons for it. If you have placed a dispute with the CRA to verify the item, they contacted the CA who in return told them that the account is correct. I assume they didn't get to the depth of this matter. Use the letter below as per your situation and ask the company to give you the accurate details. If they are unable to verify it within a specified time, you can show a copy of this letter to the CRA along with their failure in responding to you. Since you have the stronger reason to dispute the item, the CRA will take this matter more seriously. If they don't get the actual facts, the item needs to be removed from your file.
[quote]Send via CERTIFIED MAIL, Return receipt requested
YOUR NAME
YOUR ADDRESS
CITY, STATE, ZIP CODE
Re: Acct #
Collections Manager:
This letter is regarding the account referenced above, which you claim I owe. This is a notice that your claim is disputed. I am requesting validation, made pursuant to the Fair Debt Collection Practices Act Section 809 [15 USC 1692g]. Please note that I am requesting "validation"; that is competent evidence bearing my signature, showing that I have some contractual obligation to pay you.
Please also be aware that any negative mark found on my credit reports from your company or any company that you represent for a debt that I don't owe is a violation of the Fair Credit Reporting Act; therefore if you cannot validate the debt, you must request that all credit reporting agencies delete the entry.
Pending the outcome of my investigation of any evidence that you submit, you are instructed to take no action that could be detrimental to any of my credit reports.
If you do not own this debt, you must remove the derogatory marks from my credit report per the Fair Credit Reporting Act.
This letter is also a formal request, citing Section 805 [15 USC 1692c] of the Fair Debt Collection Practices Act, to cease any further communication with me unless it is:
(1) to advise that your collection efforts have been terminated;
(2) to notify me of any specified remedies
(3) to notify me that you have invoked a specified remedy
Please note that any failure on your behalf to comply with the laws of the Fair Credit Reporting Act and the Fair Debt Collection Practices Act will result in legal action.
Best Regards,
Your name
Cc: (insert a lawyer's name, Esquire)
[/quote]
re: verification
thanks andyyoung. the key thing you mentioned was "If they are unable to verify it within a specified time, you can show a copy of this letter to the CRA". This seems to be the big issue. What exaclty is the time frame they're required to acquire and send the info you request. According to them it's whenever. Is there any legal indication of this action?
There is no legal timeframe though in which the company needs to
There is no legal timeframe though in which the company needs to respond to your request. But guess, you can't have the inaccurate reporting hurt your credit for long period. So you can take the actions on your own if you don't get the results, maybe within a month. If the company is not showing a response, send a follow up letter with the same information, again through certified mail. This is leaving proof about your actions to resolve the matter. When nothing works, show these proof to the CRA and make your dispute stronger. They will be forced to put your credit file in actual shape since the item is strongly disputed by you. You also have the provision to add 100 word statement in your credit file for putting the actual facts about your credit history to anyone viewing your file.
"You also have the provision to add 100 word statement in your c
"You also have the provision to add 100 word statement in your credit file for putting the actual facts about your credit history to anyone viewing your file."
Thats awsome! Thanks for posting that Andy!