ARE THE ORIGINAL CREDITORS OBLIGATED TO VERIFY A DEBT VALIDATION REQUEST IN TEXAS?

[tlfinley]

ARE THE ORIGINAL CREDITORS OBLIGATED TO VERIFY A DEBT VALIDATION REQUEST IN TEXAS? I am aware of the Texas Finance Code 392.202. But I am unsure if the original creditors are obligated to verify a debt validation in Texas. I have two actual debts on my report including the original creditor and the collection agency for the same debt.

[baller4life]

I'm in Texas as well. DV letters are for the CA. You need to send the OC a Direct Dispute letter. If the OC has sold the debt to a CA the balance should be $0. Have you disputed through the bureaus yet?

[tlfinley]

Thanks! Yes the Bal is at 0. I will try to dispute it with them next. Yes, I have disputed it with the credit bureaus. NO luck there. I will keep trying,... First Premier Bank isnt budging.

[RobertEG]

Creditors send billing statements that comprise their periodic statement that debt is due, its amount, and when payment is due.

Both the FDCA and TX finance code deal only with debt collectors, not original creditors, who provide their own form of statment of the debt.

As for a dispute, a dispute under te FCRA is directed at the accuracy of what has been reported.

Unless the consumer asserts and provides some documentation that there was no debt in fact, the issue of a dispute would be limited to the accuracy of the item of information, such as a balance, or whether the account was actually delinquent.

In  substtantiating a direct dispute, what would you assert as being the inaccuracy?  That there was never any debt, period?

If they have sold the debt, they will have reported $0 debt, so the amount of the debt would no longer be at issue in any dispute.