Debt Validation Response Help - SOL over 14 years & no proof of assignment

Date: Sat, 03/12/2011 - 15:09

Submitted by BananaPancakes
on Sat, 03/12/2011 - 15:09

Posts: 4 Credits: [Donate]

Total Replies: 9

I sent a validation letter certified to a collection agency not knowing what the debt was for and they responded with a copy of the original contract (turned out to be a car loan for vehicle repossessed). However...

The original contract was signed in 1997.

The collection agency did not supply me with proof they are licensed to collect in my state (FL).

They did not include anything about assignment of debt nor did they provide documentation if they purchased the debt which was requested.

There was no documentation included which shows the actual sale price of the vehicle from the auction after repossession, only a copy of a letter from the original creditor dated 10/1997 claiming a balance is owed.

Also, I read over all of the fine print in the original contract and no where does it state that a debt collector can be â€œassignedâ€ to collect the debt on behalf of the original creditor.

What is my next step in disputing this? Do I send another letter for validation stating the above? Or do I dispute it at this point?

I forgot to include, it's Portfolio Recovery Associates and the

I forgot to include, it's Portfolio Recovery Associates and the letter they sent in response states "We have completed our investigation of your dispute concerning this account".

I sent a VERIFICATION letter to them. No where in the letter did I dispute the collection, simply requested verification of the debt.

lrhall41

Submitted by BananaPancakes on Sat, 03/12/2011 - 15:43

( Posts: 4 | Credits: )

They are not required to send you proof of assignment or licenci

They are not required to send you proof of assignment or licencing proof. Read the FDCPA. They are also not required to send you the auction price as what you owe would also include other fees such as repo costs.

Any debt can be assigned to a collection agency.

lrhall41

Submitted by SOAPLADY on Sat, 03/12/2011 - 15:55

( Posts: 17315 | Credits: )

If your in Florida and you have not made a payment for more than

If your in Florida and you have not made a payment for more than 5 years then its out of SOL. I would just send them a FOAD letter, that simple

lrhall41

Submitted by anonymous on Sun, 03/13/2011 - 11:26

( Posts: 202330 | Credits: )

The contract had absolutely no clause about the debt being able

The contract had absolutely no clause about the debt being able to be assigned??? Wow...if that is true I don't think they can legally collect...I am just not sure about that as I have never heard of a contract NOT having this clause.

It is true that the statutes don't list specifically what you can ask for, but were it to go to court you could ask for all that so bring that in in your letter...they can say no, but then you can respond with, "fine sue me then because I will not pay without proof."

If the debt was from 1997 you can legally send them a cease & desist letter because they no longer can force you to pay it. I would not pay them until I got more information.

lrhall41

Submitted by goldenbast on Sun, 03/13/2011 - 19:13

( Posts: 2884 | Credits: )

Thank you anoon and goldenbast for your insight, I appreciate it

Thank you anoon and goldenbast for your insight, I appreciate it. I was just as surprised when reading over the contract fine print that there was no mention of assignment. I ended up reading it twice just to make sure I didn't miss it the first time.

I've drawn up a SOL FOAD letter and am mailing it out tomorrow.