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debt valid response

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debt valid response

I received a letter from an attorneys office saying that they were hired to collect on old debt of mine.  I sent a debt validation letter CMRRR, it has now been 30 days since they received the DV, and I have heard nothing.  My SOL is up in June, if they do not verify by then will the SOL apply, or since it is in the process of verification will it not?  This was a capital one account.
Message 1 of 7
6 REPLIES 6
Valued Contributor

Re: debt valid response

They still have to respond even if its within or out of SOL, or atleast they should! If they dont respond then send copies of your letters, green cards and any other proving documents you have to CRA's.  Some say they have 30 days, some say allow 35 days. I say 30 since its so widely referenced! Good Luck! Did you try disputing?


lorileet wrote:
I received a letter from an attorneys office saying that they were hired to collect on old debt of mine.  I sent a debt validation letter CMRRR, it has now been 30 days since they received the DV, and I have heard nothing.  My SOL is up in June, if they do not verify by then will the SOL apply, or since it is in the process of verification will it not?  This was a capital one account.



Rebuilding and Reducing Debt, is my game plan.
Message 2 of 7
Epic Contributor

Re: debt valid response

35 days would be the better choice.  They have up to and including the 30th day to validate.  The extra 5 days are for mailing time.
Message 3 of 7
Moderator Emeritus

Re: debt valid response



lorileet wrote:
I received a letter from an attorneys office saying that they were hired to collect on old debt of mine.  I sent a debt validation letter CMRRR, it has now been 30 days since they received the DV, and I have heard nothing.  My SOL is up in June, if they do not verify by then will the SOL apply, or since it is in the process of verification will it not?  This was a capital one account.


How much is owed? When did the account go 180 days past do? And which state do you live in? Did this debt occur in the same state you are currently living in?
Message 4 of 7
Highlighted
New Contributor

Re: debt valid response

This is a capital one account.  I was told to look at my experian report and look for the date it will drop off my report subtract 2 years (since my SOL is 6yrs in ND).  However capital one on my report is now showing that this account has been sold.  So what im asking is does this restart the SOL if  this company verifies or in june is my sol up?
Message 5 of 7
Moderator Emeritus

Re: debt valid response


 

lorileet wrote:
This is a capital one account.  I was told to look at my experian report and look for the date it will drop off my report subtract 2 years (since my SOL is 6yrs in ND).  However capital one on my report is now showing that this account has been sold.  So what im asking is does this restart the SOL if  this company verifies or in june is my sol up?


Let's not confuse reporting SOL with legal SOL. Reporting SOL cannot legally be reset, even if you make payments, partial payments or the account (bad debt) is sold. Legal SOL, however, can reset with payments to a creditor in some states. Again, when did this collection go 180 days late? This will let us know when it will fall off of your reports.
 
Reporting SOL (credit reporting time periods)
 
 
Legal SOL
 
 
DOFD, DOLA, SOL
 
 
 
 
 

 
Message 6 of 7
Moderator Emeritus

Re: debt valid response

Even if it states SOLD   it will still show the drop date......it doesn't change!   The only thing that resets SOL is when YOU make a payment!
 
If you haven't received an answer to the first DV  send the 2nd 1   CMRRR
 
Dear Sir/Madam:
I'm sure you know, under FDCPA Section 809 (b), you are not allowed to pursue collection activity until the debt is validated. You should be made aware that in TWYLA BOATLEY, Plaintiff, vs. DIEM CORPORATION, No. CIV 03-0762 UNITED STATES DISTRICT COURT FOR THE DISTRICT OF ARIZONA, 2004, the courts ruled that reporting a collection account indeed is considered collection activity.
You recieved a request for validation from me on 9/18/07. You have not responded to that request in any way, and since that time you have updated information on my Experian credit report on 10/10/07 and on my Equifax report TWICE on 10/15/07.  Each of these updates constitutes a violation of FDCPA.
While I prefer not to litigate, I will use the courts as needed to enforce my rights under the FDCPA.
I look forward to an uneventful resolution of this matter.
I request that all contact with me be in writing, and only when you can provide adequate validation of this alleged debt. To refresh your memory on what constitutes legal validation, I am giving a list of the required documentation:
  • Complete payment history, the requirement of which has been established via Spears v Brennan 745 N.E.2d 862; 2001 Ind. App. LEXIS 509 and
  • Agreement that bears the signature of the alleged debtor wherein they agreed to pay the original creditor.
  • Letter of sale or assignment from the original creditor to your company. (Agreement with your client that grants you the authority to collect on this alleged debt.) Coppola v. Arrow Financial Services, 302CV577, 2002 WL 32173704(D.Conn., Oct. 29, 2002) - Information relating to the purchase of a bad debt is not proprietary or burdensome. Debtor must phrase their request clearly to obtain: The source of a debt and the amount a bad debt buyer paid for plaintiff's debt, how amount sought was calculated, where in issue a list of reports to credit bureaus, and documents conferring authority on defendant to collect debt.
  • Intimate knowledge of the creation of the debt by you, the collection agency.
As you are already in violation, I expect all reference to this account be deleted from my credit report, as this entry and any update of such entry will be considered another violation. You have 5 days from the receipt of this letter to remove this account from any and all reporting agencies, or a complaint to the FTC will be immediately filed for each and every violation from 9/18/07 until this issue is resolved. It is common knowledge that your company often violates these laws and I have no doubt that if I choose to litigate that you will be held liable for your actions. It is my hope that you will comply with the law in order to avoid the hassle.
Thank You,
TYPE NAME
 
 
Message 7 of 7
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