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Debt Validation/Asset Acceptance

Date: Mon, 12/03/2007 - 16:41

Submitted by belle11128
on Mon, 12/03/2007 - 16:41

Posts: 79 Credits: [Donate]

Total Replies: 2


I have been trying to correct some of my past credit problems and I sent a letter to Asset Acceptance to validate the debt for several accounts that they hold. Today I received in the mail a validation from every letter that I sent. I am not sure what I need to do now. Basically the letter states the creditor, original account number, principal, interest/fees, balance and then my current information. On some of the letters it has a last transaction date and some there are not any dates. I guess I was hoping that the letters were going to come back and say we cannot verify your debt. What is my next step?


I also received a letter from Applied Bank and this is what they wrote back to me:
"We have received your request concerning validation of your debt. Federal regulations stipulate that a dispute can be determined to be "frivolous" if the consumer fails to provide sufficient information to investigate the disputed information or the dispute was previously submitted. As a result of our review, we have determined that your request falls in this category. We will not provide any further response concerning this request."

Can they actually do this??? It goes on to say that they believe that I am working with a credit repair agency which is not true. All of this has been done on my own. Basically they say that they are willing to negotiate. The problem is I am not sure of the actual cost. Don't they have to validate the debt for me???


lrhall41

Submitted by belle11128 on Mon, 12/03/2007 - 17:07

( Posts: 79 | Credits: )