@seanjames wrote:I sent LVNV and the 3 CRA's a debt validation notice last month for an old capital one acct. The reporting agencies just updated their status as valid and i received a reply from LVNV with a photo copy of one page of the capital one account statement and they also typed up an account summary report.
Correct me if i am wrong , doesnt this constitute as improper debt validation ?
1. There was nothing included in anything they sent me that had a contract with my signature. Showing an old account acct statement does not validate that i owe anything.
2. I did not enter into any agreement with LVNV , so where is the proof of my signed contract with them and that i owe them any money
I am trying to send responses to LVNV backed by debt validation veriifcations laws
I also wanted to draft a letter to the 3 bureaus citing improper debt validation and another letter to the CFPB complaining about the bureaus for not doing due dilengece stating their method for validation.
Please help with any laws or statements i need to use in my response.
Looking for advice
Welcome @seanjames
First off the CRA's have nothing to do with debt validations. Next LVNV will delete if settled or PIF. No need to go thru all this. Settle and off your reports the collection will go. Now as far as Cap1. They wont remove anything. Especially if its a charge off. So that baddie will stay for the 7yrs since the DoFD. Save all this stuff and settle the account. Theres never any "contracts" with consumers and CA's. There is with credit card companies in the fine print called terms and conditions. Good Luck!
There's really no set law/rule for what constitutes debt validation, so for #1 I just don't think you'd have a case.
For #2, there's never a signed agreement between a consumer and CA, but you did enter into an agreement with the CC company, and as part of their terms they mention selling off bad debts/hiring CAs to collect on delinquent accounts.
Also, debt validation doesn't mean they can't keep reporting, it just means they can't keep collecting until they send that info, and even then, they're really only required to respond if done within a "timely manner." This means within 30 days of their initial dunning notice. In your case, they didn't have to respond at all if they didn't want to, since presumably this was an old debt and they sent initial communication a while back, but they did.
@seanjames wrote:I tried to do a pay for delete with LVNV and they said they dont delete. Which is why i am trying going through the debt validation process. The account statement they sent to me doesnt show any credit card charges. there is no contract with signatures in what they sent.
I have heard of people getting success after a few debt validations. I am really frustrated with these guys and One Main. These are the last two items i need to get off my credit report.
Thats weird. LVNV/Resurgent was doing PFD's for a while. I was gone for a bit. Maybe they went back to their old ways again. Cant find the statement on the website.
@seanjames wrote:I sent LVNV and the 3 CRA's a debt validation notice last month for an old capital one acct. The reporting agencies just updated their status as valid and i received a reply from LVNV with a photo copy of one page of the capital one account statement and they also typed up an account summary report.
Correct me if i am wrong , doesnt this constitute as improper debt validation ? Nope. Not even close to improper. The threshold for DV is so low you can trip over it. ALL they are required to provide is the name of the OC, amount you owe and their address. If they sent a statment that satisfies the requirement(s).
1. There was nothing included in anything they sent me that had a contract with my signature. Showing an old account acct statement does not validate that i owe anything. The courts are all aware there is no signed contract in a credit card account and even if there was there is NO requirement they send a copy as part of DV. Documentation is only required if there is a judgment or if they are suing you in court.
2. I did not enter into any agreement with LVNV , so where is the proof of my signed contract with them and that i owe them any money Oh but you did. Read the terms and conditions of the card agreement for your account. The OC can assign or sell the account at any time without your consent. Under contract law when an account is sold the assignee gains all the rights and responsibilities of the OC. That means any debt you owed at default is automatically owing to LVNV when they legally purchased the account.
I am trying to send responses to LVNV backed by debt validation veriifcations laws
I also wanted to draft a letter to the 3 bureaus citing improper debt validation and another letter to the CFPB complaining about the bureaus for not doing due dilengece stating their method for validation. Method of validation is a different dispute and is NOT required as part of standard DV.
Please help with any laws or statements i need to use in my response. There are none. There is nothing they did wrong. You really need to educate yourself on the FDCPA and FCRA before you go filing frivolous disputes and complaints. You don't say what state you are in or when you defaulted on this account but if the SOL for suit is still alive you need to either settle this quickly or start studying pro-se litigation defenses because you may have simply kicked the hornets nest and prompted LVNV to sue you.
Looking for advice
LVNV definitely does PFD. I settled in full & they removed the account without me even asking. Give it another shot.
