Rebuilding Your Credit

[nothingman02]

What exactly is or constitutes - copy of the debt?

Thanks!

[llecs]

In what context is "copy of the debt" found? State law?

[nothingman02]

FDCPA.

It was my understanding so far, that the CA has to provide a copy of the debt or judgement when requested by the consumer in a timely DV. Lets ignore the judgement. But what would that copy of the debt be?

1) A simple letter stating the debt provided to CA at the time of sale/assigment

2) Original/copy of the signed application(agreement) by the consumer with the CCC/lender

3) Transaction statements from the OC

4) Trying to think...

5) Nope...

[llecs]

A verification per Sect. 809 (b) can be as simple as a mention of the balance owed. Details don't even have to be provided. However, the CA must be able to back up the balance in court if they sue you or you them, so they can't pull it out of the blue.

If you ever question a debt balance, always contact the OC to compare notes.

[RobertEG]

What constitutes proper validation of debt in response to a consumer DV letter has been the subject of many court decisions.  The bare bones requiremnt of FDCPA 809(b) is only that the CA verifies the debt.  Verification is not defined in the statute.  The only additional requirment is that, if the consumer requests it, the name and address of the original creditor.

Some district court decisions have gone a bit farther, holding that verification requires, as a matter of judicial holding, a statement of at least the amount of the debt, and in some cases, a showing of documents establishing the OC account and the authority of the CA to collect on behalf of the OC.  But district court decisons do not become legal precedent until decided at the appellant court level, and then only within that judicial district.  So if you are requiring the CA to do more than provide a simple statment of verification, you will be in for a legal fight.