Charged off, junk debt buyers, and validation
Date: Wed, 12/26/2007 - 20:41
I am working with a debt settlement agency. I have 2 debts that are still not settled. Both of the debts have been charged off and the debt info has passed from one junk debt buyer to another for the past 2 years. I recently found this forum and the last 3 junk debt buyers the accounts have gone through have received validation letters from me. So far, no one has been able to validate the debt. If and when I receive full validation info, I will forward it to my settlement company. My settlement contracts end in 3 months, which corresponds with the SOL expiration in my state. My question is, will these accounts continue to pass from CA to CA forever and ever?
Yes, but once the 7 year mark passes and the original creditor w
Yes, but once the 7 year mark passes and the original creditor would have fallen off your credit report, all associated collection accounts also have to go, they can then never be legally reinserted.
So if they don't validate once the SOL expires I would say just
So if they don't validate once the SOL expires I would say just let the 7 year reporting run it's time and say forget it. The reason they haven't sent you validation is probably because they can't. My personal advice; if they can't validate it, don't pay it. I would want to know I'm paying the right person.