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Valued Member
jramos402
Posts: 35
Registered: ‎12-12-2013
0

Have A Few Questions About DV Letters

[ Edited ]

Im about to begin writing DV letters but still have a few questions about it and as to what to write. I live in Texas which from what I hear is a consumer friendly state. First off, from what I have been reading and understand, an FDCPA DV only requires the CA a bare minimum (such as a few months bills) to validate a debt where as a TX Finance Code DV requires more from them in order to validate. What exactly am I able to ask for under this TX Finance Code?

 

I would also like any and all input/opinions on disputing legitimate debt? Some say its a major no no while others claim that any debt wether legitimate or not should be disputed as it is our right plus you might just get lucky and get it dropped. Im honestly leaning towards disputing all debt but am just wanting more opinions and reasons as to why or why not this may or may not be the way to go.

 

Ive also been looking into sample DV letters and one that really stuck out to me and was thing about basing my DVs off of also has some controversy to it so Id like opinions and input on it as to if anyones used a similar letter and what kind of results they got with it or just simply why one should not use such a letter. It is one where I inform the CA that I am disputing the debt but in spirit of compromise am willing to pay a percentage if they agree to delete it off my credit reports. If they agree they must send me an official letter agreeing to my terms but if I dont hear back from them in a certain time frame or they do not agree then they must provide me with all the information I am allowed to ask for according to law in order for them to validate the debt. As I previously stated, some say this is a very bad way to write a DV but others have had success. I know not two cases are exactly the same and results will vary for everyone but I just want input from both sides before seeing what route I will go.

 

Lastly, who should I send the letters to? Is it better to dispute through the CRAs or straight to the CAs directly? 

Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
0

Re: Have A Few Questions About DV Letters

First, lets get to the disputing of accurate information.

 

FCRA states you can dispute inaccurately reporting information.  That means accurate information should not be disputed.  myFICO does not condone the disputing of accurate information or advocating others to do so.  It is a violation of the TOS of the forums.

 

Any questions about that, feel free to PM myself or another Mod.

 

As for the DV, the FDCPA is pretty clear on what a CA must provide in a validation letter.  Who is currently collecting and how much.  If you specifically ask for the name and address of the OC and an itemization of the debt, they must provide that.  That is all they are required to provide.  Nothing else.

 

Simple and to the point "You are collecting on an alleged debt, account_____.  Per FDCPA 809, please validate.  Include the name and address of the OC and an itemization of the debt."

 

What you are asking about in the 3rd paragraph sounds more like a PFD and not a DV.  Keeping in mind a PFD is more like a good will letter, it should be a polite and nice.  No demands, such as giving timelines or telling them who they can and cannot speak to or demanding it be done on letter head etc. 

 

Additionally, it is like a threat, telling them if they don't PFD then you will request validation.  Not a very good way of getting on their good side and getting the deletion you want.

 

A PFD letter should never  use the word dispute in it. 

 

As for the TX Finance Code:

 

Read the requirements of the TFC392.

They have 3 choices -

1. Deny the inaccuracy.

2. Admit the inaccuracy.

3. Tell you they need more time to investigate.

 

Make sure they have a bond on file - make sure that they are bonded under the name being collected on. IF not, they must have their "assumed" name on file and on the bond. This info can be found out by calling the TXSOS.

 

Also make sure they have "This letter is from a debt collector"  or something similar.

 

Frequent Contributor
Shokk
Posts: 364
Registered: ‎06-21-2013
0

Re: Have A Few Questions About DV Letters

+1 to what Guiness said.

 

For any DV letter, keep it short and sweet.

 

Please validate this debt per Texas Finance Code 392.202.

 

Sincerely,

XXX - Type your name, don't sign it.

 

Doesn't really need much more than that.  Gives them more rope to hang themselves.  They should know the law without you pointing it out.

 

I recommend having a service where you can pull your report daily.  A CA is allowed to update the TL to disputed, but nothing else during the 30 day window. (The way I read TFC 392 is it is a dispute.)  If they do not respond in 30 days, file a complaint with the CFPB.  I had at least one removed this way.  If and when they do respond, feel free to post responses here so we can take a look.

I don't know my start scores, but low 500s. 6/13

8/13/13
EQ FAKO - 578 -- 8/28 - 596 FICO - 9/3 - 641
EX FAKO - 633 -- 8/28 - 652 2/22 - 668 (FICO)
TU FICO - 621 -- 8/28 -645 3/12 - 644 6/3 - 670
Valued Member
jramos402
Posts: 35
Registered: ‎12-12-2013
0

Re: Have A Few Questions About DV Letters

Thank you guys for the responses. Should I also ask for a surety bond for the CA to collect a debt in the state of Texas as per Texas Finance Code 392.101 in my DV letter as well? The reason I ask is because all collection attempts stem from when I lived in Nebraska. I now live in Texas. So is it safe to assume that maybe the CAs had a surety bond to collect in Nebraska but might not in Texas?

 

Frequent Contributor
Shokk
Posts: 364
Registered: ‎06-21-2013
0

Re: Have A Few Questions About DV Letters


jramos402 wrote:

Thank you guys for the responses. Should I also ask for a surety bond for the CA to collect a debt in the state of Texas as per Texas Finance Code 392.101 in my DV letter as well? The reason I ask is because all collection attempts stem from when I lived in Nebraska. I now live in Texas. So is it safe to assume that maybe the CAs had a surety bond to collect in Nebraska but might not in Texas?

 


You can, but I've never had one provide it.  Check the TX SOS website.   Most, if not all of the well known CAs are bonded here.

 

Have you been in Texas for at least a year?

I don't know my start scores, but low 500s. 6/13

8/13/13
EQ FAKO - 578 -- 8/28 - 596 FICO - 9/3 - 641
EX FAKO - 633 -- 8/28 - 652 2/22 - 668 (FICO)
TU FICO - 621 -- 8/28 -645 3/12 - 644 6/3 - 670
Valued Member
jramos402
Posts: 35
Registered: ‎12-12-2013
0

Re: Have A Few Questions About DV Letters


Shokk wrote:
You can, but I've never had one provide it.  Check the TX SOS website.   Most, if not all of the well known CAs are bonded here.
Have you been in Texas for at least a year?

Thanks. I'll look into that and yes I've been living in Texas almost 2 years now.

Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
0

Re: Have A Few Questions About DV Letters


Shokk wrote:

+1 to what Guiness said.

 

For any DV letter, keep it short and sweet.

 

Please validate this debt per Texas Finance Code 392.202.

 

Sincerely,

XXX - Type your name, don't sign it.

 

Doesn't really need much more than that.  Gives them more rope to hang themselves.  They should know the law without you pointing it out.

 

I recommend having a service where you can pull your report daily.  A CA is allowed to update the TL to disputed, but nothing else during the 30 day window. (The way I read TFC 392 is it is a dispute.)  If they do not respond in 30 days, file a complaint with the CFPB.  I had at least one removed this way.  If and when they do respond, feel free to post responses here so we can take a look.


No, they are not.  A DV is not the same type of dispute as under the FCRA. 

 

A DV is disputing the validity of the debt or any portion thereof.  It is not disputing anything about how it is reporting.  That is for the FCRA dispute.

Frequent Contributor
Shokk
Posts: 364
Registered: ‎06-21-2013
0

Re: Have A Few Questions About DV Letters

[ Edited ]

guiness56 wrote:

Shokk wrote:

+1 to what Guiness said.

 

For any DV letter, keep it short and sweet.

 

Please validate this debt per Texas Finance Code 392.202.

 

Sincerely,

XXX - Type your name, don't sign it.

 

Doesn't really need much more than that.  Gives them more rope to hang themselves.  They should know the law without you pointing it out.

 

I recommend having a service where you can pull your report daily.  A CA is allowed to update the TL to disputed, but nothing else during the 30 day window. (The way I read TFC 392 is it is a dispute.)  If they do not respond in 30 days, file a complaint with the CFPB.  I had at least one removed this way.  If and when they do respond, feel free to post responses here so we can take a look.


No, they are not.  A DV is not the same type of dispute as under the FCRA. 

 

A DV is disputing the validity of the debt or any portion thereof.  It is not disputing anything about how it is reporting.  That is for the FCRA dispute.


" The third-party debt collector shall make a written record of the dispute."

 

I assumed this meant reporting to the CRAs as the next line states "If the third-party debt collector does not report information related to the dispute to a credit bureau..."

 

The way I read TFC 392.202 it is a dispute in and of itself:  392.202  (a) An individual who disputes the accuracy of an item...

 

But I have been known to be wrong once or twice. :smileyhappy:

I don't know my start scores, but low 500s. 6/13

8/13/13
EQ FAKO - 578 -- 8/28 - 596 FICO - 9/3 - 641
EX FAKO - 633 -- 8/28 - 652 2/22 - 668 (FICO)
TU FICO - 621 -- 8/28 -645 3/12 - 644 6/3 - 670
Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
0

Re: Have A Few Questions About DV Letters


Shokk wrote:

guiness56 wrote:

Shokk wrote:

+1 to what Guiness said.

 

For any DV letter, keep it short and sweet.

 

Please validate this debt per Texas Finance Code 392.202.

 

Sincerely,

XXX - Type your name, don't sign it.

 

Doesn't really need much more than that.  Gives them more rope to hang themselves.  They should know the law without you pointing it out.

 

I recommend having a service where you can pull your report daily.  A CA is allowed to update the TL to disputed, but nothing else during the 30 day window. (The way I read TFC 392 is it is a dispute.)  If they do not respond in 30 days, file a complaint with the CFPB.  I had at least one removed this way.  If and when they do respond, feel free to post responses here so we can take a look.


No, they are not.  A DV is not the same type of dispute as under the FCRA. 

 

A DV is disputing the validity of the debt or any portion thereof.  It is not disputing anything about how it is reporting.  That is for the FCRA dispute.


" The third-party debt collector shall make a written record of the dispute."

 

I assumed this meant reporting to the CRAs as the next line states "If the third-party debt collector does not report information related to the dispute to a credit bureau..."

 

The way I read TFC 392.202 it is a dispute in and of itself:  392.202  (a) An individual who disputes the accuracy of an item...

 

But I have been known to be wrong once or twice. :smileyhappy:


I was talking a normal FDCPA DV and not under TX Finance Code.  Sorry.

Valued Member
jramos402
Posts: 35
Registered: ‎12-12-2013
0

Re: Have A Few Questions About DV Letters

[ Edited ]

Heres a copy of the letter I finally came up with and will be sending off here in a few days. Just wanted opinions on it. Maybe Im missing something else I could be asking for them to send me for verification. Ive been looking on the Texas SOS website and a few of the CAs Im sending this letter to arent bonded here in Texas. Is there any chance that after receiving this letter they sell the debt off to another CA that IS bonded in Texas just to make some money off of it?? Here is the letter:

 

 To Whom It May Concern:

 

I recently pulled a copy of my credit bureau reports and discovered that you claim I owe you a debt. Be advised, this is not a refusal to pay, but a notice sent pursuant to the Texas Finance Code Sec. 392.202 that validation is requested.

 

This is NOT a request for “verification” or proof of my mailing address, but a request for VALIDATION made pursuant to the above named Title and Section. I respectfully request that your office provide me with competent evidence that I have any legal obligation to pay you.

 

Please provide me with the following:

 

  • The name of the original creditor
  • The original date of default or non payment of the debt
  • The date the debt was transferred from the original creditor to your agency
  • The original balance
  • The current balance
  • Surety bond information as per Texas Finance Code Sec. 392.101

 

If your offices fail to respond to this validation request within 30 days from the date of your receipt, all references to this account must be deleted and completely removed from my credit file and a copy of such request shall be sent to me immediately.

 

Best Regards,

 

My Typed Name


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