Is this sufficient validation??

Anonymous · ‎12-20-2011

I received a "validation of debt" letter from LVNV stating the following:

"LVNV currently owns account number XXXX(they list the entire account #). The account was previously sold by X on or about 9-23-11 and at that time the balance on the account was $514.92. As of the date of this communication, the account balance is $520.98. Because interest, payments, credits, fees, and/or other permissible charges can continue to cause the account balance to vary from day to day, you should contact us at 1-800-- to determine the exact balance."

I feel like this is more like simply verification of the debt rather than validation that they have the legal right to collect. What do other people think?

Would I be justified in sending another debt validation letter? The DOFD was July 2006 and it was charged off in January 2007 (as listed on my CR from OC), so in the state of Texas it is pass the SOL. Should I even bother with another DV, or should I just send a PFD and state that it is pass the SOL so basically this is the only way you're gonna get your money.

Help!!! The letter was sent on the 12th so I want to get a letter , be it a DV of PFD, out by the end of this week to give ample time to get there within 30 days of the dunning letter!

Anonymous · ‎12-20-2011

To my understanding if its past SOL, they can no longer report? I can't give any solid info, but please correct me if I am wrong.

Anonymous · ‎12-20-2011

@Anonymous wrote:
To my understanding if its past SOL, they can no longer report? I can't give any solid info, but please correct me if I am wrong.

I believe they can still report as it is still within that 7-7.5 years range it'll be about 6 years next July so still a little ways to go before it falls off, but they just can't sue me to collect the money. It just showed up on my CR so since they have the date listed as 8/2011 for the collection since it's so new it caused my score to drop quite a bit, that's why I'm willing to go ahead and try to pay for delete even though it's outside the SOL.

But the amount listed for the charge off by the OC does not match what LVNV is reporting so I would like them to validate this debt and know how they came to this amount but the paragraph claiming to be validation is all I got.

pizzadude · ‎12-20-2011

-----> To my understanding if its past SOL, they can no longer report? I can't give any solid info, but please correct me if I am wrong.

Not True. SOL and CRTP ( Credit Reporting Time Period ) are completely unrelated.

SOL is the period of time in which legal action can be brought against you. Although in some cases JDBs or CAs may still try to sue, so you have to show up to court and assert SOL.

CRTP is the period of time that an item shows on your credit report. Generally this is 7 - 7.5 years from the date of each late payment or CO.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX

Anonymous · ‎12-20-2011

@Anonymous wrote:
@Anonymous wrote:
To my understanding if its past SOL, they can no longer report? I can't give any solid info, but please correct me if I am wrong.

I believe they can still report as it is still within that 7-7.5 years range it'll be about 6 years next July so still a little ways to go before it falls off, but they just can't sue me to collect the money. It just showed up on my CR so since they have the date listed as 8/2011 for the collection since it's so new it caused my score to drop quite a bit, that's why I'm willing to go ahead and try to pay for delete even though it's outside the SOL.

But the amount listed for the charge off by the OC does not match what LVNV is reporting so I would like them to validate this debt and know how they came to this amount but the paragraph claiming to be validation is all I got.

I'm sure they've tacked on a ton of interest and collection fees. My letter said pretty much the same thing and is around the same amount although the original balance was about half that when it was charged off.

Anonymous · ‎12-20-2011

Thanks for clearing that up pizzadude.

Anonymous · ‎12-20-2011

@Anonymous wrote:
I'm sure they've tacked on a ton of interest and collection fees. My letter said pretty much the same thing and is around the same amount although the original balance was about half that when it was charged off.

So Skyhigh83, are you taking the letter that they sent you as validation?

Anonymous · ‎12-21-2011

bump

Anonymous · ‎12-22-2011

Just updating...I went ahead and sent DV letters to both LVNV and Resurgent. I will probably get the same thing back little paragraph back from them as validation. I DV'd both of them...as LVNV is the one showing up on my CR they have to respond right? And not Resurgent?

Anonymous · ‎12-22-2011

@Anonymous wrote:
@Anonymous wrote:
I'm sure they've tacked on a ton of interest and collection fees. My letter said pretty much the same thing and is around the same amount although the original balance was about half that when it was charged off.

So Skyhigh83, are you taking the letter that they sent you as validation?

Doubtful. They didn't say anything about the original balance or creditor so I am going to request the information just so I have it, because I am still unsure as to WHO the original debt was incurred with. I just know that with the CCs on my CR, the original balances were all between $250-$300 before being charged off. Doesn't narrow it down!