Portfolio Recoveries . Need advice

[hifiko]

rak01---Hold everything. If this account goes back to 1998 you don't have to pay anything to a "bloodsucking, parasite infested, rat **bleep** collection agency. The SOL has probably expired but this is something you"ll have to check out. What state do you live in? DO NOT DO ANYTHING ON THIS MATTER UNTIL YOU KNOW WHAT THE SOL IS. I apologize for sugar coating this post but being a ex-finance company employee I know the tactics of the illegitimate children who work in these collection agencies.

[Anonymous]

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illcrew3 wrote:

FDCPA Section 809. Validation of debts [15 USC 1692g]

(b) If the consumer notifies the debt collector in writing within the thirty-day period described in subsection (a) that 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, until the debt collector obtains verification of the debt or any copy of a judgment, or the name and address of the original creditor, and a copy of such verification or judgment, or name and address of the original creditor, is mailed to the consumer by the debt collector.

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If you're going to send a DV, do not include this section of the law unless you are writing the CA within 30 days of receipt of their ORIGINAL demand letter.  You can try to get them to DV months or years after the fact, but they have no legal obligation to validate.  This is why it is very dangerous for people to play lawyer and quote the law.

ETA: I agree with hifiko -- get some legal advice about what the SOL is before you pay a dime.

Message Edited by masdeocho on 10-08-2007 05:40 PM