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Credit Agency Woes

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Anonymous
Not applicable

Credit Agency Woes

I have 2 different accounts that I've been working on with Asset Acceptance.

 

1. Asset Acceptance responded to my PFD settlement letter with a letter that welcomes me as a new customer.... (How thoughtful of them!) They said I have 30 days to request verification. They didn't even acknowledge my settlement offer. Should I just send another PFD letter? 

 

 

2. Asset Acceptance responded to my debt validation request on another account. The account number and "original" creditor listed are probably 2nd or 3rd generation obviously not the original creditor. Is that letter enough to qualify for proper debt validation? Should they at least have some original account numbers or signed documents?

 

I appreciate any help or suggestions that ya'll may have.

Message 1 of 8
7 REPLIES 7
RobertEG
Legendary Contributor

Re: Credit Agency Woes

Proper debt validation under FDCPA 809(b) requires them to identify the original creditor.  They do not have to produce signed documents, but must identify the OC. 

If you know who the OC is, and it doesnt jive with their DV response, I would wirite them and tell them that their DV response is inadequate, and that any fiurther collection activity must continue to cease under FDCPA 809(b) until full verification is supplied.

 

As for your PFD offers, they dont ever have to respond.  It is just a conditional offer on your part.  Before you send any PFD offer, make sure that you know your state SOL statutes.  In some states, an offer to pay may reset your SOL.

Message 2 of 8
Anonymous
Not applicable

Re: Credit Agency Woes

Thanks Robert. With regards to their DV response, should I write them saying that I do not recognize the OC they have listed as well? Or should I just be more general by only telling them their DV response is inadequate and collection activity must continue to cease... (as you suggested)?

 

I'm not entirely clear on all SOL statutes but I'm pretty sure here in Big Texas, the SOL is 5 years and I'm just over 5.5 years from when it went to collections to begin with. So that's not a major concern. I'm just not sure where this leaves me. Is it worth just re-sending the PFD letter now? Or just hang tight for a month and try again another day? There's no shortage of other credit repair "projects" for me to tackle  but this one would be fairly cheap to deal with assuming they'll actually play ball.

 

Edit: I did read where you said they don't have to respond. But just because they don't respond the first try, does that mean its a bad idea to try it again?

Message Edited by MyGoodLife on 10-14-2009 07:12 AM
Message 3 of 8
Anonymous
Not applicable

Re: Credit Agency Woes

Can you explain to me how to proceed if a company violates the FDCPA? I have used that reasoning with DVs, to no avail. Sometimes the fact that a law is being violated doesn't motivate CAs.  
Message 4 of 8
JoeBJay20
Established Contributor

Re: Credit Agency Woes


@Anonymous wrote:
Can you explain to me how to proceed if a company violates the FDCPA? I have used that reasoning with DVs, to no avail. Sometimes the fact that a law is being violated doesn't motivate CAs.  

What violation(s) do you believe they made?

Message 5 of 8
Anonymous
Not applicable

Re: Credit Agency Woes

I guess it's more of a general question. What can you do for any violation?

 

Message 6 of 8
JoeBJay20
Established Contributor

Re: Credit Agency Woes

Well you always have several options.  You can report them to the Better Business Bureau, you can report them to your state attorney general's office, you can file a complaint with the FTC, you can even sue in small claims court.  Your course of action is dependent on what outcome you wish to receive as well as the number and type of violation(s) committed.
Message 7 of 8
RobertEG
Legendary Contributor

Re: Credit Agency Woes

I can only give you my opinion.

Adminsistrative enforcement of the FDCPA (as is for the FCRA) is specifally delegated, under FDCPA 814(a), to the Federal Trade Commission (FTC).

That gives the FTC the stautory authoritty to bring legal action, at its own initiative, for violations of the FDCPA.  But they only do this once a decade, and only for high-profile cases.  Snowball chance in hell to rely on the FTC bringing any action for one consumer. 

 

It is kinda like, in their mind, asking the FBI to prosecute someone for stealing ten cartons of cigarettes from a convenience store, driiving one mile over the state line, and then selling them without paying the new state taxes. Technically a federal crime, but the FBI wont devote resorrces to the small stuff.  Similarly, the FTC is not going to independltly commit their resources to enforce your violated FDCPA rights unless it is at class action level.

 

As an example of decreased FTC concern to help individual consumers in violations of both the FCRA and FDCPA, the FTC used to publish FTC Advisory Opinions by staff counsel on indivuidual complaints by consumers for a few years after enactment of the FCRA, and then the FDCPA, but discontinued those opinions years ago.

 

 

BBBs can only post and compile complaints.  Maybe write a nasty letterr once in a while, but they dont bring legal action on your behalf. 

IMHO, violations of the FDCPA should always be raised with any CA, at the earliest date.  Set the table for legal; violation.   That tells them that you have caught them with their pants down, so to speak.  But to really enforce FDCPA violations, you need to be willing to go to court, for that is the only forum that must listen to legal arguments for violation of the FDCPA/FCRA.  Your lawyer can always use them in your cause of action.  The FTC could care less.

 One mistake, and waste of time, again IMHO, is that consumers write lettters to the CRAs, complaining about FDCPA violations, and even requring a CRA to delete a derog because a CA has not responded to their DV letter.  This should be embarrassomg to the consumer, for the FDCPA has absolutey nothing to do with credit reproting, and that a DV letter is of zero concern to a CRA.

 

 

 

 

Message Edited by RobertEG on 10-17-2009 09:44 PM
Message 8 of 8
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