HELP received Collection letter tonight.

[sarahcatherinemay]

Send a follow up letter demanding that they request that the 3 reporting bureaus remove the account - 

They didn't respond within the 30 days so they have to delete it. 

[Sunshine222]

^^. But isn't that debt validation only true if you respond within 30 days of your first notice from them?  And while they can't usually prove you got letters, you logging into their website previously and working with them in 2012 makes a pretty good case that you knew they were trying to get you to pay a debt.

i just settled a larger account than that with midland for just over 50%.  I didnt have a local office or threat of lawsuit involved but I called and dealt with them directly, and despite horror stories, I found them to be fairly civil and decent about everything.  The ease with which it happened makes me think i probably could have paid them less but I don't care, I just wanted it off my plate.  I might suggest something like that although I'm not sure how it works if the local office is involved.  I was afraid that might have been next since they sue lots of people in this town!

[Anonymous]

good news bad news

the good news

they can no longer legally pursue legal action against you until they provide the validity of the debt.
if you happen to live in Texas they are required to delete this trade line if the can't confirm the validity of this debt in 30 days.

bad news(if not in texas)
this company can hold your credit hostage by not responding to your dv letter until it falls off your cr....making it difficult to purchase a home or being approved for other things. (this would be their way of bluffing by thinking you can't financially move forward without paying the debt.

[Anonymous]

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@Anonymous wrote:
good news bad news

the good news

they can no longer legally pursue legal action against you until they provide the validity of the debt.
if you happen to live in Texas they are required to delete this trade line if the can't confirm the validity of this debt in 30 days.

bad news(if not in texas)
this company can hold your credit hostage by not responding to your dv letter until it falls off your cr....making it difficult to purchase a home or being approved for other things. (this would be their way of bluffing by thinking you can't financially move forward without paying the debt.

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I'm new to this (still working on my "welcome" thread to this forum), but this last post raised a question...

If a DV (which I presume means "Demand for Validation") is sent to a collection company and they can choose not to respond and keep the item on the credit report, what is the purpose of the DV to begin with?  It seems to me that collection companies can simply extort money from debtees with no recourse.

Perhaps I don't understand, which is why I'm here in the first place.

[myjourney]

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@Anonymous wrote:

---

@Anonymous wrote:
good news bad news

the good news

they can no longer legally pursue legal action against you until they provide the validity of the debt.
if you happen to live in Texas they are required to delete this trade line if the can't confirm the validity of this debt in 30 days.

bad news(if not in texas)
this company can hold your credit hostage by not responding to your dv letter until it falls off your cr....making it difficult to purchase a home or being approved for other things. (this would be their way of bluffing by thinking you can't financially move forward without paying the debt.

---

I'm new to this (still working on my "welcome" thread to this forum), but this last post raised a question...

If a DV (which I presume means "Demand for Validation") is sent to a collection company and they can choose not to respond and keep the item on the credit report, what is the purpose of the DV to begin with?  It seems to me that collection companies can simply extort money from debtees with no recourse.

Perhaps I don't understand, which is why I'm here in the first place.

---

Welcome to the forum

A CA is under no time limit to answer a DV but all collection activity must stop until they do respond.

DV= Debt validation

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Guide-To-Common-Abbreviations/m-p/224988?jump=true

[Anonymous]

if you send the CA a dv letter they can choose to respond or not (unless in texas)..but they have to suspend collection practices against you until they validate.

if you truly suspect that the collection is not valid and after you sent a DV letter with no response. ...you can dispute the collection with the CRA. ..they can investigate the info for you...and I'm not sure what the time frame is on this....I want to say they have to respond in 15 days....

[myjourney]

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@Anonymous wrote:
if you send the CA a dv letter they can choose to respond or not (unless in texas)..but they have to suspend collection practices against you until they validate.

if you truly suspect that the collection is not valid and after you sent a DV letter with no response. ...you can dispute the collection with the CRA. ..they can investigate the info for you...and I'm not sure what the time frame is on this....I want to say they have to respond in 15 days....

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30 days for CB's 

[Outdoorstech1]

So was the "were going to sue you" letter just a threat? The SOL on the account runs out Sept of 2015 so I have a full year left. And I don't want to be sued. It's a gamble I guess wait it out until the SOL runs out or try and dispute it to see if they can truly validate it. But if they don't contact me with validation do I wait to call and ask for a PFD?