topic Re: Validation question in Rebuilding Your Credit

Validation question

Anonymous — Wed, 08 Oct 2008 18:34:59 GMT

Is a Xerox copy of an Old bill with charge-off amount Suffice to satisfy as Validation from a Collection agency??

balance?

And if so what would be a good settlemet offer to write up to them on a 3,074 balance. They will not PFD.

Re: Validation question

llecs — Wed, 08 Oct 2008 23:01:52 GMT

@Anonymous wrote:
Is a Xerox copy of an Old bill with charge-off amount Suffice to satisfy as Validation from a Collection agency??
balance?

And if so what would be a good settlemet offer to write up to them on a 3,074 balance. They will not PFD.

Yes, so as long as somewhere in their info to you there is the OC name, contact info (address), and balance owed.

IMO, offer 100%. I only write that because I got burned a couple times. I don't take "No" for an answer. I'd keep with the PFDs. Try their leadership too. E-mail, fax, etc.

Re: Validation question

Anonymous — Thu, 09 Oct 2008 01:56:05 GMT

How old is this OLD debt?

Re: Validation question

Anonymous — Fri, 10 Oct 2008 06:00:31 GMT

Age of the debt, SOL, and likelyhood of getting the money before this falls off the reports are inversely proportional to the amount of money to give them.

Unless you can get sued, I'd start with 25%. I had 2 accounts go away with 25% offers.

Re: Validation question

RobertEG — Fri, 10 Oct 2008 08:39:13 GMT

deesown, yes, I concur that it is sufficient, if signed in accompanying letter by a rep of the CA, and thus represented as being a true copy from their files.

If you were to enter into a court of law, your atty would have the legal right to subpoena the original documents for validation and verification. But normal business proceedings need to be conducted without all of that, and thus you can only question fraudulence of its representation in court.

I would pay then 100%, if that is what I owed them.

Message Edited by RobertEG on 10-10-2008 01:39 AM