Paramount

Paramount must validate the debt in writing before you make the payment arrangements. Check your mail if this CA has sent you anything. Under the federal laws, you should get the details within 5 business days. If you don't hear from them, send a debt validation letter and cover your basis legally. Read this page for more information on debt validation.

http://www.debtconsolidationcare.com/validation.html

Samples of debt validation letter are available in this forum. Use it as per your requirements and send it through certified mail with return receipt requested.

I just called Paramount. Noone answered the phone so I left a message referencing the case #. I said that I had no clue what this whole thing was about and that I need to have all the information mailed to me. I also told them to refrain from calling me at work. I will see what happems int he next 5 days.

It's been three days since I received these calls. I left the message yesterday and I thought I would have at least received a call at home but haven't. If I do not receive a validation letter in the next two days, what should I do?

Hi brendacovey

Is Paramount reporting anything negative in your credit report? They have such rights only when they have legitimate information about you. I am assuming that they don't have any details otherwise the debt should have been validated by now.

If the company has entered negative in your credit file, immediately dispute the item with the CRA reporting it. They will either fix the error or else provide you the complete information about this account. Remember, your credit report must have actual and correct information only. Inaccurate information should be removed immediately as per the federal laws. FCRA has more detailed explanation on this one.

http://www.ftc.gov/os/statutes/fcradoc.pdf

I don't know. The last credit report I have is from a year and half ago. I heard that you could get a free copy of your credit report. Is that true? I had to pay for mine. Do you or anyone else know if this true and how do i go about getting it?

Yes brendacovey, every person is entitled to get one free credit report each year. You can get the free copy of the three bureaus from the FTC website site. Or, contact each of them for the free copy. Monitor each account carefully and see if there are any possible errors. The credit history must be shown in accurate shape without any errors.

In case any one is wondering, i found a website that you can get all three credit reports for free. It's
www.annualcreditreport.com
I checked mine out and this Paramount isn't listed on my report.

Well, it has been well over the 5 days sice I received this call and have received nothing int he mail. My question is this: should I mail a request for a debt validation letter or wait til they call again. Any thoughts?

Yes, its time for you to send a debt validation letter by now. Make sure that you send it through certified mail with return receipt requested so that you can prove the letter sent.

It turns out I did receive a letter in yesterday mail. Except, it only says who the debt was with and how much due. It was a payday loan, however, the amount they say I owe doesn't sound at all correct to me. Should I still send the validation letter asking to calculate how they came up with that amount?