Debt validation and disputing charges
Date: Mon, 08/03/2009 - 06:51
I had 3 charges on my credit report that I wasnt sure were accurate. They were from years ago - and i believe atleast 2 were being double counted but I wasnt sure if they were legit. I took the step of disputing with the all 3 CA's with the explanation that I didnt recognize them and think they belonged to me but now I'm worried that I should have taken the steps of writing a debt validation letter to each instead. How will this affect me if they come back and say one if any of these are legit - will this hurt my ability to dispute in the future if they dont validate the debt? This is all new to me. Great site...so much useful information! Thanks for any help in advance.
No need to worry, Stewon. Disputing the accounts wouldn't affect
No need to worry, Stewon. Disputing the accounts wouldn't affect your credit score. If these are valid debts, the CRAs would simply report them are legit and the accounts would continue appearing on your report as they are now.
Quote:
will this hurt my ability to dispute in the future if they dont validate the debt? |
No! If any of the collection agencies contact you to collect the debt, your first step would be to send them the debt validation letter. They would need to prove that they are the rightful owner of the debt before being able to collect against it.
A dispute is the same thing as a DV. You are asking them to vali
A dispute is the same thing as a DV. You are asking them to validate the debt because you dispute it.
Well, I think you dispute a debt when you completely disagree of
Well, I think you dispute a debt when you completely disagree of owing it but a DV is sent to the collector to let him prove that he is the rightful owner of the account and thus have gained the right to collect it.
I fail to see why disputing a debt and sending debt validation letter are synonymous.
?? From the FDCPA [15USC 1692g(a)(4)]: [quote]if the consume
??
From the FDCPA [15USC 1692g(a)(4)]:
[quote]if the consumer notifies the debt collector in writing within the thirty-day period that the debt, or any portion thereof, is disputed, the debt collector will obtain verification of the debt or a copy of a judgment against the consumer and a copy of such verification or judgment will be mailed to the consumer by the debt collector.[/quote]
I believe when it comes to debt collectors reporting accounts to
I believe when it comes to debt collectors reporting accounts to the credit bureaus, mistakes are usually made. I help my clients dispute any portion of the account directly to either the debt collector or the credit bureau. For example, one collector may not be reporting the date of last activity; so I dispute the lack of this information and if the furnisher cannot provide it, I demand that the account be deleted from the credit report. If another account isn't showing a correct balance owed, you can dispute that information. etc. Be specific in your dispute letters and attach copies of documentation if you have it. And always keep signed, dated copies of your dispute letters and send them certified, return receipt requested.
You can always dispute a debt-- but the debt collector's obligation to provide validation of the debt is specified in the FDCPA as ChrysHenderson states above.
