MCM -
Date: Thu, 10/09/2008 - 12:00
I have been reading these boards for quite a while now and im more confused then ever when it comes to Validation. I live in California
Some posters on this board say that PROPER Validation need only contain OC name account number and charge-off amount.
Yet others say this is NOT proper Validation.
The Validation I got from MCM was a Xerox copy of a statement that had the charge off amount and the finance charge amount that didn't even equal to the amount they are asking me for.
They are asking for payment of 3,074.00
The first 30 days past due on this bill is October 2005 - that is what is says on my Credit Report
And if this IS proper Validation what would be a good Settlement I can write them up?
Some posters on this board say that PROPER Validation need only contain OC name account number and charge-off amount.
Yet others say this is NOT proper Validation.
The Validation I got from MCM was a Xerox copy of a statement that had the charge off amount and the finance charge amount that didn't even equal to the amount they are asking me for.
They are asking for payment of 3,074.00
The first 30 days past due on this bill is October 2005 - that is what is says on my Credit Report
And if this IS proper Validation what would be a good Settlement I can write them up?
While sending a debt validation letter you should ask for the fo
While sending a debt validation letter you should ask for the following information: -
Quote:
* What do I need you to provide as the debt validation. * What the money you say I owe is for * Explain and show me how you calculated what you say I owe * Provide me with copies of any papers that show I agreed to pay what you say I owe * Provide a verification or copy of any judgment if applicable * Identify the original creditor * Prove the Statute of Limitations has not expired on this account * Show me that you are licensed to collect in my state * Provide me with your license numbers and Registered Agent * Proof that the collection company owns the debt/or has been assigned the debt. (You are legally entitled to collect this particular debt from me.) This is basic contract law. * Complete payment history, starting with the original creditor. (I need to have proof of my payment history with original Creditor, what the amount of the debt was when the creditor assigned the debt to your company, and what fees/interest has been tacked on to this debt and how you/they determined these fees.) This requirement was established by the case Fields v. Wilber Law Firm, Donald L. Wilber and Kenneth Wilber, USCA-02-C-0072, 7th Circuit Court, Sept 2004.. * Copy of the original signed loan agreement or credit card application. (My contract with the original creditor establishing the debt between us.) This is also basic contract law. |
Guest, they need to provide proper validation. They need to prov
Guest, they need to provide proper validation. They need to prove thaey own the debt or have the right to collect it. Don't ever try to settle a debt with a CA/JDB until they have proven they have the right to collect it. If you made a settlement offer and they accepted it, they can turn around and sell the remaining balance to another CA/JDB. Be very careful when dealing with CA's, for the most part, they're not honest.
