love2golf wrote:We have reviewed your recent letter concerning the claim that the bank has an obligation under federal law to validate the debt within 30 days of your letter. We respectfully disagree with your interpretation of the applicable laws and thus decline to respond further to your inquiry.Sincerely"xxxxx
Sorry ... I meant the Fair Debt Colletion Practices Act. "Debt collector" is defined as a CA and specifically excludes OCs. So under Federal law, an OC has no obligation to verify a debt. State law may be different. YMMV.
Correct. Requirements for CAs under the Fair Credit Reporting Act do NOT apply to OCs.
If I read right, OP tried to send a DV to the OC which won't work. I'm uncertain as to whether an OC letter has to be responded to or not. I don't think any fed law applies here. If reporting incorrectly and it came back verified, then a MOV might work.