My debt was validated ,I think...Help!
Date: Sun, 11/06/2011 - 17:21
[COLOR=black]It says I requested verification of debt,which is not true.I specifically stated that this is a request for validation and not "verification" or proof of my mailing address.[/COLOR]
[COLOR=black]However they have provided me with the outstanding balance with interest and penalties(6922.00),orignal balance was (6494.00) I didn't think they could charge interest and penalties?[/COLOR]
[COLOR=black]They have also provided statements,an affidavit of sale and certification of debt and an exhibit C (bill of sale and assignment of loans)[/COLOR]
[COLOR=black]Haven't they only verfied the debt,but to validate it they would need to send me a copy of the original contract signed by myself and they orignal [/COLOR]
[COLOR=black]creditor?[/COLOR]
[COLOR=black]I'm not trying to get out of anything just holding there feet to the fire.[/COLOR]
[COLOR=black]for proper validation.[/COLOR]
[COLOR=black]If they have successfully validated then what would my next step be?tia[/COLOR]
[COLOR=black]All opinions are welcome....[/COLOR]
I would file a complaint with the FTC. I would also send them so
I would file a complaint with the FTC. I would also send them something in writing requesting validation of the debt. I believe there is something that is outlined on the collections home page it should be a letter requesting a validation of the debt and mail it to them certified with return receipt and then if they can't then I would follow up with a C&D letter.
As far as I know, they should have sent you [COLOR=black]a copy
As far as I know, they should have sent you [COLOR=black]a copy of the original contract signed by you and the original [/COLOR][COLOR=black]creditor. Once they validate the debt, it means that the debt has been assigned to them and they have the right to collect it. In such a situation, you will have to negotiate with them and set up a payment plan and pay off the debt. [/COLOR]
Do you guys know what validation of the debt is?? Have you read
Do you guys know what validation of the debt is?? Have you read the FDCPA???[URL="https://www.lexingtonlaw.com/?tid=1736.0.TopHeader"][/URL][LEFT]
[QUOTE][LEFT]FDCPA Section 809. Validation of debts [15 USC 1692g] (b) If the consumer notifies the debt collector in writing within the thirty-day period described in subsection (a) that the debt, or any portion thereof, is disputed, or that the consumer requests the name and address of the original creditor, the debt collector shall cease collection of the debt, or any disputed portion thereof, until the debt collector obtains verification of the debt or any copy of a judgment, or the name and address of the original creditor, and a copy of such verification or judgment, or name and address of the original creditor, is mailed to the consumer by the debt collector.
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Sounds like they have more than met the requirement.
From my reading and googling, copies of statements DO stand up in court.
Everytime you sign a credit card slip, you are agreeing to pay your debt per the card holder agreement.
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Yes, this is true that the collection agency is supposed to send
Yes, this is true that the collection agency is supposed to send you copy of your original contract with the creditor. However, not all of the collection agencies provide the debtor with all three of the proof of debt like the original contract, the owed by you and the proof that the collection agency was given over the power to collect the debt.
ok, there is some bad information here. Lets get this cleared u
ok, there is some bad information here. Lets get this cleared up.
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I would file a complaint with the FTC. |
Absolutely not. They have not done anything to violate the FTC. Not even close. If you do this, you are going to do nothing more than get the debt collector mad at you, and if you find yourself in a position of trying to settle this debt with said debt collector later, the LAST thing you want to do is rub them the wrong way now.
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I would also send them something in writing requesting validation of the debt. I believe there is something that is outlined on the collections home page it should be a letter requesting a validation of the debt and mail it to them certified with return receipt..... |
Please do me a favor---you are a debt samaritan now. Please take the time to read the post you are replying to. Being a debt samaritan, your answers tend to carry a bit of credibility to those who come here asking questions, so it is my goal that we see samaritans posting correct answers. Clearly, by the OP's post, he/she already sent a letter asking for validation. So why are you telling the OP to send them a letter requesting validation?
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and then if they can't then I would follow up with a C&D letter. |
The OP has already told us that the CA in question DID send a response. So, telling them what to do if the CA doesnt respond is, to be frank, useless. The OP is looking to find out if the material they sent constitutes proper validation--in order for that to be the case, they obviously must have sent something, no?
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As far as I know, they should have sent you [COLOR=black]a copy of the original contract signed by you and the original [/COLOR][COLOR=black]creditor.[/COLOR][/QUOTE]
Anna, you really need to stop this. You have nearly 2,000 posts here. You have discussed this topic before. We have told you repeated times about your errors concerning the concept of debt validation. If you cannot take what many of us have given to you over and over again, and learn from it, then please stop posting about validation altogether. There are people here who come here for answers and the last thing we as a forum want is for someone to believe false information that is posted by a "debt samaritan". Posting about a topic when you demonstrate repeated inability to post the facts is dangerous when people may act on your bad advice. if someone blows off a CA with a C&D because they followed your poor advice, they very well might find themselves facing a lawsuit.
There is NOTHING, repeat, NOTHING in the FDCPA that requires the CA to provide you with the original signed contract as validation. NOTHING. If you go to court, I would absolutely press for it, but when we're talking about validation there is no such requirement. Anna, you have already been told this, and I hope that this is the last time you need to be told again.
Now, lets actually address the OP's questions.
The only way that the bill of sale and certification of debt, etc etc mean anything is if they show this specific debt. Many times, they will send you a bill of sale that does not in any way identify this specific debt. This is because debt buyers buy debts in chunks--they buy hundreds or even thousands at one time. If the paperwork does not specifically say "this debt, owed by _____, account number ______, was sold to us by _____ on _______.", then the document is worthless. Now, it doesnt have to be that exact format, but they DO need to identify this exact account on the bill of sale. The certification of debt---who wrote it? If it is an employee of anyone other than the original creditor, then it is hearsay and also worthless. The statements by themselves could be enough, they also could not be. I would know more if I saw the documents themselves, because it is impossible to say without knowing exactly what they say and who wrote them.
Thanks
Thanks guys for all your help!
As for the Affidavit of sale and cert of debt it looks like they have all the info needed,standard affidavit,notarized and signed by a bank officer,account# and balance included.However the bill of sale and assignment looks like a much copied over and over again letter.
It's on a bank of america letterhead
,assignee being CACH,LLC and the assignor being FLA CARD SERVICES,N.A. signed by the V.P.(no reference to any account# or balance)
I agree this,along with the statements may be enough for validation of the debt.:confused:My other question is (before I get into any negotiations) is it legal for them to charge interest and penalties? I have other creditors and c/a's that haven't or ever mentioned it.
Also the timeline to respond is upon receipt of the letter or they will consider it a refusal to pay and bla bla bla.When I sent out the original debt validation letter I also included a cease and desist by phone only limiting them to the US postal service for communication.
Do I need to respond asap or do I have time before they take it further?
This is the Law Office Of Harold E Scheer representing CACH,LLC
:(I do not like the idea of them charging interest and penalties!!
TA for your help and any idea of how to negotiate with this law firm and what may be expected would be greatly appreciated.
gator11
Quote:As for the Affidavit of sale and cert of debt it looks lik
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As for the Affidavit of sale and cert of debt it looks like they have all the info needed,standard affidavit,notarized and signed by a bank officer,account# and balance included.However the bill of sale and assignment looks like a much copied over and over again letter. It's on a bank of america letterhead ,assignee being CACH,LLC and the assignor being FLA CARD SERVICES,N.A. signed by the V.P.(no reference to any account# or balance) |
The affidavit of sale is what covers the fact that the bill of sale doesnt show the account info. As long as the documents come from FIA Card Services, then they are from the original creditor---FIA is a subsidiary of BofA.
From what you are saying it appears that they have covered their bases on this one.
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I agree this,along with the statements may be enough for validation of the debt.:confused:My other question is (before I get into any negotiations) is it legal for them to charge interest and penalties? I have other creditors and c/a's that haven't or ever mentioned it. |
The short answer is "yes". They are permitted to charge you interest and penalties, but they can ONLY charge you the amounts of penalties and interest that are specified in the original credit agreement. Anything over those amounts is not legal at this time.
I would not spend a whole lot of time waiting around on this one. CACH very rarely supplies such complete documentation on a debt, and considering that this is several thousand dollars, I can see them pushing the issue to court without waiting a long time to do so. Better to be proactive on this one, instead of having to respond to their moves.