Reply
Member
LMD
Posts: 26
Registered: ‎09-13-2013

Original creditor response

Does the original creditor have to respond to a debt validation or pay for delete letter in Texas?
Regular Contributor
cyberone28
Posts: 135
Registered: ‎03-06-2013

Re: Original creditor response

[ Edited ]

they have to validate, but if the debt its yours there is nothing you can do they will verify it, but 

1. pay them  

2. GW letters 

 

they dont really need to reply for a pay for delete..

 

anyone correct me if im wrong please

Hey my credit is not that bad.. at least i got a couch with a 87% APR :smileyhappy:

Starting Score: 462 :smileysad: journey started on 3/29/2013
Current Score: EXP 715 :smileyhappy: EQ 720 :smileyhappy: TU 700 Barclaycard fico :smileyhappy:
Goal Score: 700+ one day :smileyhappy: update... 750+ across the board


Take the myFICO Fitness Challenge


Member
LMD
Posts: 26
Registered: ‎09-13-2013

Re: Original creditor response

That's the thing I wrote a debt validation letter an got no response twice. I sent them certified so I know they received them. The original creditor is first premier. I was jus curious if the HAVE to respond an if they don't can I then send the info to the CRA for deletion?
Regular Contributor
cyberone28
Posts: 135
Registered: ‎03-06-2013

Re: Original creditor response

[ Edited ]

i think only one that have to validate debt are collection agencies, but if you owe them.. just pay it and keep on.. FIRST PREMIER BANK its a pain to deal... i have a charge off with them.. trust me they will not do a pay for delete... unless youre really lucky..

GOOD LUCK 

Hey my credit is not that bad.. at least i got a couch with a 87% APR :smileyhappy:

Starting Score: 462 :smileysad: journey started on 3/29/2013
Current Score: EXP 715 :smileyhappy: EQ 720 :smileyhappy: TU 700 Barclaycard fico :smileyhappy:
Goal Score: 700+ one day :smileyhappy: update... 750+ across the board


Take the myFICO Fitness Challenge


Member
LMD
Posts: 26
Registered: ‎09-13-2013

Re: Original creditor response

Is there a way I can find out if legally they have to at least respond to the debt validation letter? In Texas
Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007

Re: Original creditor response

[ Edited ]

Both the federal DV process and the TX state versioh apply only to debt collectors, not OCs.

OCs establish the validity of a debt via their prior billings, which are their statement that the debt is considered valid.

 

 Texas Finance Code, Title 3

"Sec. 392.202.  CORRECTION OF THIRD-PARTY DEBT COLLECTOR'S OR CREDIT BUREAU'S FILES.  (a)  An individual who disputes the accuracy of an item that is in a third-party debt collector's or credit bureau's file on the individual and that relates to a debt being collected by the third-party debt collector may notify in writing the third-party debt collector of the inaccuracy."

Member
LMD
Posts: 26
Registered: ‎09-13-2013

Re: Original creditor response

Thanks roberteg, basically there isn't :smileysad:
Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: Original creditor response

[ Edited ]

Debt validation is only for 3rd party collection agencies no matter where you live. 

 

You can do a direct dispute with the OC, which does fall under the FCRA.  And they do have to respond or they are in violation.

Member
LMD
Posts: 26
Registered: ‎09-13-2013

Re: Original creditor response

Ok. Thank u guiness56. One more question. My reason for contacting them ultimately is to get this debt settled an off my report, so will a direct dispute letter be the right letter?
Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: Original creditor response

Probably not.  There has to be some sort of inaccuracy with their reporting.


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+