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Question about debt validating

Date: Sat, 05/07/2005 - 07:35

Submitted by anonymous
on Sat, 05/07/2005 - 07:35

Posts: 202330 Credits: [Donate]

Total Replies: 9

Question about debt validating


Hi :D
Does validation work ONLY if you have never made a payment on the said 'account'? Say, you have a debt that's a few years old, you paid on it to start with for several months, then fell behind and stopped. It became a 'charge off', and then a collection agency obtained it. Would validation not work in this case, since I was orginally making the payments? wouldn't that be validation in itself? (if they could prove that I was originally making the payments)?

we had some hard times for a while, husband lost his job...yada yada yada....I started using debt management but a particular OC wouldn't accept me on it. I continued to pay for a while, continuing to ask them to accept me due to hard times, they still refused. I was getting farther and farther behind due to late charges and fees, so I stopped payments. :cry: I think its been about two years now.
thanks for your time. shirley


What do they need to provide as debt validation?


  • Proof that the collection company owns the debt/or has been assigned the debt. (Is The CA legally entitled to collect this particular debt from you.) This is basic contract law.
  • Complete payment history, starting with the original creditor. (You need to have proof of your payment history with the OC, what the amount of the debt was when The OC assigned the debt to the CA, and what fees/interest the CA has tacked on to this debt and how thhe 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. (Your contract with the OC establishing the debt between you.) This is also basic contract law.



Asking for Debt Validation is not a "CLAIM" you do not owe the debt, but a request for proff of what you do Owe.

A very important distinction....

Lets say I sent you a bill as a CA for a old Medical Claim saying you Owe me 5,000.00 for it. Are you going to pay it blindly...the CA hopes so, but things to think about...

How much was the original Bill for in the first place.

How much of it did the insurance pay?

Did thye submit it in a timely manner to the insurrance Company? (MOST Insurance Companies have a "timely" subnmition clause that if it's not submitted in time it wont get process and they cant hold the insured liable for their error)

After all Insurance payments, how much of this is not fees? Interest?

Is debt being collected legally? (in SOL, is CA licensed to perate inyour state..etc)

So debt validation is a very IMPORTANT tool to use at ANY TIME!.

Jerry


lrhall41

Submitted by jtucker on Sat, 05/07/2005 - 08:52

( Posts: 114 | Credits: )


Thanks Jerry for clearing that up. I have in fact, sent CA a validation letter. I sent it about two weeks ago and still haven't heard anything so far. Guess I was just 'second guessing' myself here. Will have to wait and see what happens. Now, would this be the time to write CRA about said accounts? (there are several accounts with same creditor and CA combined them all and trying to collect all in one lump rather than the way OC had them and the way they show up on my CR.) also, CA is not on CR, only OC. thank you! Shirley


lrhall41

Submitted by anonymous on Sat, 05/07/2005 - 09:10

( Posts: 202330 | Credits: )


So, if you stop paying a creditor-for whatever reasons-, say two years ago, and it went into collections, and say you 'ignored' the collection agency for all that time, thinking that may be they would just go away--(because hey, its happened before)and these people haven't been too aggressive-even though they're saying the debt is $7,000, then you would be wasting your time sending a validation letter? (since its 2 years 11 months past the original 30 days)?

I played dumb and asked as though this was the first I had heard from them and sent one anyways.

Thanks,
Shirley

[size=2][color=darkred][Vikas : Formatted the post][/color][/size]


lrhall41

Submitted by anonymous on Sun, 05/08/2005 - 17:51

( Posts: 202330 | Credits: )


You can ask for Validation at ANY time. No matter what time went by.

A debt always can be asked to be given a true account for, Origianl amount, interest, fees, etc...

AND by law it is your right to ask for and receive that information.

ALSO...you dont have to dispute the whole amount either to get the same accounting for it.

Say you rememebr "OWEING" something around some $$$$ amount. OK, so you dont dispute that amount of it, but the other aklount that is so much over the part you remember you dispute..:

[quote]the debt, or any portion thereof, is disputed, or that the consumer requests the name and address of the original creditor, the debt collector shall cease collection of the debt, or any disputed portion thereof, [/quote]

So since you querstion that part of it they must provide verification of the "WHOLE" thing in order to show haw they/you got from there to Here...

Jerry


lrhall41

Submitted by jtucker on Sun, 05/08/2005 - 18:12

( Posts: 114 | Credits: )


Hi Shirley

It's great to be a member of this site. There are various facilities and weekly prize money that the customers enjoy after they get themselves registered in this site. Getting registered in this site is absolutely free of cost. You can sign up at http://www.debtconsolidationcare.com

Hope to see you soon as a member of this site :D

Roxette


lrhall41

Submitted by roxette on Mon, 05/09/2005 - 10:28

( Posts: 4009 | Credits: )