wobbles Posted July 19, 2003 Report Share Posted July 19, 2003 OK, I sent a DV letter to ACS (collecting for a Wells Fargo accnt). According to the agreement they sent, it looks like mine. Now, what next? I certainly don't have the amount they are asking for - according to this letter, they want over $7,000, which was the original amt of loan, and there were pmts made to this loan before I got sick (probably about 2 yrs worth at $200/mo). What do I do now? Offer monthly pmts? I can't really settle for a % of amt they say I owe, since I don't have it. I could make monthly pmts of that amt however. I thought from what I had been reading here that most of the time when you send a DV to a CA, they disappear. Not happening, so I need help with how to proceed. I DO NOT want to talk to these jerks by phone, Wells Fargo was really nasty (and I assume that ACS is some branch of their comapny), name calling & such & my nerves can't take it right now. I'm fighting with several creditors, trying to resolve each one by one, but its taking a toll.Help! Link to comment Share on other sites More sharing options...
sisflomi Posted July 20, 2003 Report Share Posted July 20, 2003 When did you last pay this account to the original creditor?What else did they send you for dv? Just a signed contract? Link to comment Share on other sites More sharing options...
wobbles Posted July 20, 2003 Author Report Share Posted July 20, 2003 Last pmt was Dec 02, they sent a signed contract (faxed copy) rec'd from OC. Link to comment Share on other sites More sharing options...
buzz-saw Posted July 21, 2003 Report Share Posted July 21, 2003 OK, I sent a DV letter to ACS (collecting for a Wells Fargo accnt). According to the agreement they sent, it looks like mine. Now, what next? I certainly don't have the amount they are asking for - according to this letter, they want over $7,000, which was the original amt of loan, and there were pmts made to this loan before I got sick (probably about 2 yrs worth at $200/mo). What do I do now? Offer monthly pmts? I can't really settle for a % of amt they say I owe, since I don't have it. I could make monthly pmts of that amt however. I thought from what I had been reading here that most of the time when you send a DV to a CA, they disappear. Not happening, so I need help with how to proceed. I DO NOT want to talk to these jerks by phone, Wells Fargo was really nasty (and I assume that ACS is some branch of their comapny), name calling & such & my nerves can't take it right now. I'm fighting with several creditors, trying to resolve each one by one, but its taking a toll.Help!It depends on what you asked for in your validation request. If all you asked for was a signed contract, then they've validated per your instructions. But there's more to validation.All the contract does is prove a debtor-creditor relationship between you and the OC. The relationship is one thing, but the debt AMOUNT is something entirely different. Did they send you an itemized account activity sheet that shows all transactions from day one? If not, there's no way for you to know whether the debt is correct as stated. Have you verified that they are licensed to collect in your state? Have you verified whether the contract you signed gave the OC permission to sell or assign the debt to a CA in the event of default? Did you instruct them to remove any deragatory information in your credit file (and replace it with "disputed") in the event they have reported the account to CRAs? This is very important because it lays the evidential framework for a suit under the FCRA if they don't report the correct status of your account.My suggestion is to make sure they sent you PROPER validation; and if not, send them a request for the remaining data. There is no need to work a deal with them if they can't prove the debt -- not just the contract, but the amount as well. Link to comment Share on other sites More sharing options...
wobbles Posted July 21, 2003 Author Report Share Posted July 21, 2003 Thank you, thank you, thank you! They did not provide any details of the account, just the contract, I'll send another letter today. I DID request details of the account. I've worried over this all weekend, now at least I know they have to tell me more. Link to comment Share on other sites More sharing options...
buzz-saw Posted July 21, 2003 Report Share Posted July 21, 2003 Thank you, thank you, thank you! They did not provide any details of the account, just the contract, I'll send another letter today. I DID request details of the account. I've worried over this all weekend, now at least I know they have to tell me more.It's important that you get the "re-request" in the mail asap because they will otherwise think they validated in full just by sending you the contract -- and will resume collection efforts (even though you actually requested more than just the contract). Link to comment Share on other sites More sharing options...
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