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Debt validation---first letter


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I am in validation right now with two different creditors. The book has helped me get about 5 items off my wife's report so far. But I got to thinking. When I send a debt validation letter to a creditor (right now it is Cap.One), do I need to send the cra's a dispute letter also?

BTW, this is alot of fun? Hard work, but fun:)

Thanks

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Hey pappadp- glad to see you over here as well.... ;)

You know that OC aren't bound by the FDCPA and do not have to respond to a debt validation request. Many times, they do not know the laws very well so it may work but don't quote the FDCPA in your letters- instead, dispute the incorrect reporting and quote the FCRA.

In order to create a private action to sue under the FCRA- Section 1681s-2(B) you have to dispute information with the CRA's so yes, you should send in a dispute to the CRA's.

[Edit by Swede on Thursday, January 9, 2003 @ 01:18 PM]

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I sent a bunch of paperwork to Cap One including two court cases. They signed for it on Dec 30, so it will be interesting to see what they do.

Back in ~1996, my wife had a credit card thru them and had a 200 (or 250) credit limit. Well they came back recently and said she had an 1100 balance. She was talking on the phone with them and they said it was because there was a 500 or so balance with about 600 in interest. How can she have a balance of 500 when her credit limit was only 2-250? The first validation they sent a copy of the initial mailer you get in the mail for a credit card!

She did have her car stolen around the same period of time and I've got a police report. Should I wait to see if they validate? They should send me statements of purchases correct?

Thanks Swede. good to see you too:)

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<blockquote>Originally posted by Swede

Hey pappadp- glad to see you over here as well.... ;)

You know that OC aren't bound by the FDCPA and do not have to respond to a debt validation request. Many times, they do not know the laws very well so it may work but don't quote the FDCPA in your letters- instead, dispute the incorrect reporting and quote the FCRA.

In order to create a private action to sue under the FCRA- Section 1681s-2(B) you have to dispute information with the CRA's so yes, you should send in a dispute to the CRA's.

[Edit by Swede on Thursday, January 9, 2003 @ 01:18 PM]

</blockquote>

Thats true but they are still binded to the FTC laws.

http://www.ftc.gov

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<blockquote>Originally posted by 123rich

Thats true but they are still binded to the FTC laws. </blockquote>

Not sure what you mean by this. They're bound by the FCRA (not the FDCPA) but in order for consumers to sue under this section you have to dispute it with the CRA's first. Otherwise, it's enforceable by governmental bodies only.

[Edit by Swede on Sunday, January 12, 2003 @ 08:28 AM]

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