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Asset's DV response....wow. Now what?


c m chase
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Ok, here's how it went. (Collection is for cc $2000 CO account from 2001.)

I saw them pull 2 INQs. I sent them a PP letter.

They sent me a dunning letter. I sent DV.

They sent a printout and listed it on my reports. I sent 2nd DV letter, Wollman letter and notice of violations for listing on my reports.

They changed report to say 'in dispute' on EX. Listing still open on TU. Was deleted from EQ.

Today, they sent me copies of all statements, their bill of sale acquiring the account and the online application page. :shock: Yikes.

Here's the deal....I'm assuming this is pretty good validation. lol This account's DOLA was 3 years ago in April, which, according to most sites, is beyond Oklahoma SOL. However, I'm still not SURE if it's really out of SOL or not (not sure the statute listed - OS 12A - is used for credit cards - heard it's UCC, which doesn't govern cc's :?: ).

1) I can't read the statutes....my brain doesn't work that way. Can someone tell me what OK statute DOES apply to credit cards?

2) What should my next step be? If it's out of SOL, should I sent a C&D? I hear Asset is good about suing and if I'm not SURE on the law, I don't want to say it's out of SOL when it's not. :? Should I wait to see what their next step is?

3) Is it ok that the account isn't listed 'in dispute' now that they've validated?

I feel like a newbie. :oops::lol:

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Well I couldnt find anything. The only mention of 'credit card' os OS title 12 is as it relates to paying fees.

I dont think it applies to CC. Everything I see says 3 years.

Does the information you got from them clearly show that its been 3 years since DOLA?

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Ok, here's how it went. (Collection is for cc $2000 CO account from 2001.)

I saw them pull 2 INQs. I sent them a PP letter.

As you know by now, sending a non-PP letter to a CA/JDB is never a good strategy.

They sent me a dunning letter. I sent DV.

They sent a printout and listed it on my reports. I sent 2nd DV letter, Wollman letter and notice of violations for listing on my reports.

They changed report to say 'in dispute' on EX. Listing still open on TU. Was deleted from EQ.

Watch for a re-insertion You have some violations here. EQ probably listed it as an installment account, which is a violation. EX probably had it as something other than a collection, which is a violation. TU probably has it correctly listed as a collection.

Today, they sent me copies of all statements, their bill of sale acquiring the account and the online application page. :shock: Yikes.

Yes, indeed. If you push them, they will spend the $50 to get the info (this was verified through a deposition given by an Asset corporate officer-- that is to say it actually costs them $50).

Here's the deal....I'm assuming this is pretty good validation. lol

It meets the standard of validation. The billing statements will have your address and phone number and the on-line application will have your address, phone number and probably date of birth and social security number and maybe employment info. Since the purpose of validation is to ensure that they are dunning the right person, they have met the criteria. A reasonable person would be able to conclude, based on the info provided, whether or not Asset was dunning the right person. Since you don't live in northern Indiana, Spears does not apply and since you don't live in the 4th USDCA, Chaudry is persuasive, not controlling.

The billing statements are sufficient to obtain judgment by quasi-affirmation.

This account's DOLA was 3 years ago in April, which, according to most sites, is beyond Oklahoma SOL. However, I'm still not SURE if it's really out of SOL or not (not sure the statute listed - OS 12A - is used for credit cards - heard it's UCC, which doesn't govern cc's :?: ).

Do not concern yourself with statutes. Most state statutes were re-written or modified in the 1970's in response to the UCC, TILA, FCRA, FDCPA and other major laws and US Supreme Court rulings. Logically, it stands to reason in the 30 years or so since, that case law has modified the statutes. If you have family or friends attending summer classes, ask if you can meet them at the library and use the Lexis-Nexis/Westlaw database for free. If you can't then use one of the many on-line pay as you go services or go to the law library at the court house and try to shepardize the SOL. There are some states that consider credit cards as written agreements.

1) I can't read the statutes....my brain doesn't work that way. Can someone tell me what OK statute DOES apply to credit cards?

Your best bet is to consult with an attorney, specifically, an FDCPA/FCRA attorney who is admitted to the federal bar. All others are frauds and wouldn't be able to help you. Whatever answer they give, look them straight in the eye and challenge them (is that based on statute or case law?). If they stumble with their answer, their probably giving you a song and dance.

2) What should my next step be? If it's out of SOL, should I sent a C&D? I hear Asset is good about suing and if I'm not SURE on the law, I don't want to say it's out of SOL when it's not. :? Should I wait to see what their next step is?

The best thing you can do is take no action until you are absolutely certain of the SOL. A full blown C&D basically is a challenge to sue. Asset does sue. They file 2-3 dozen cases per month here in my county and they win 99% by default and the other 1% by summary judgment. Your saving grace is that they don't have an office in OK, so it will take some time to find an attorney. Since they have a slam dunk case, they would be foolish not to sue you. If they do file suit, under no circumstances should you trust a state judge to enforce your rights under the FCRA/FDCPA. Wait until 2 days before you must file an answer then remove the case to federal court and file your answers, defenses and counter-claims. There's an 80% chance their counsel will not be admitted to the federal bar, so they will have to substitute counsel which will cause a delay or try to get their counsel admitted somehow. Federal court costs more money for them and time is your ally. Assuming there is first pre-trial conference, you can file your interrogatories, requests for production and admissions after that. You have sufficient claims to offset their debt and put money in your pocket, so that would be your goal, unless they decide it isn't worth the effort and voluntarily dismiss.

3) Is it ok that the account isn't listed 'in dispute' now that they've validated?

It doesn't matter, they violated.

I feel like a newbie. :oops::lol:

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:shock: Wow...thanks, gdouglas! What info I have there! I WILL be using this soon, I'm sure.

Thanks for looking, JSnow....guess I'll have to keep trying to figure it out. If anything happens (which I'm sorta banking on), I'll talk to an FCRA/FDCPA lawyer and figure it all out.

Yes, the documentations they gave me shows DOLA over 3 years ago (by a few months).

I will be back to ask more, gdouglas....I will. :D

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  • 3 weeks later...

To bring up a dead thread of mine. :?

Asset called my business phone yesterday and today asking to verify my employment (they left messages).

I work for myself, so of course I didn't return the calls. I'm assuming the reason is because they're going to try to get judgment/garnish my wages?

They can't really garnish my 'wages' because I don't have set wages. Don't know how that would work, since I never know how much $ I'll have at one point. They can't garnish the business bank account, correct? (It's an LLC...not sole p)

I just should ignore those calls to my biz, yes? Other precautions I should take?

(I still haven't figured out the *real* SOL for Oklahoma...lol) :shock::lol:

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If your DV letter said not to call you and they did, chalk up another violation. You only have to prove one violation true to get the statutory $1000 plus attorney fees/costs, so every violation increases your chances of getting a substatial off-set against them.

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To bring up a dead thread of mine. :?

Asset called my business phone yesterday and today asking to verify my employment (they left messages).

I work for myself, so of course I didn't return the calls. I'm assuming the reason is because they're going to try to get judgment/garnish my wages?

They can't really garnish my 'wages' because I don't have set wages. Don't know how that would work, since I never know how much $ I'll have at one point. They can't garnish the business bank account, correct? (It's an LLC...not sole p)

I just should ignore those calls to my biz, yes? Other precautions I should take?

(I still haven't figured out the *real* SOL for Oklahoma...lol) :shock::lol:

That might constitute a 3rd Party contact, depending on what info the were requesting and what they said. They are prepping to sue. Get ready. Start expecting a summons to appear any day.

If they call back you could answer and say:

I'm sorry, CM Chase has gone to perform Mormon missionary work. (Don't worry, no one in the village has a telephone and the only car -- a police car -- got destroyed by a drunk Turk last night so no one could possibly determine if you were there or not).

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No problem. Go ahead and contact the Big 3 to get hard copies of your CRs. I'm guessing that at a minimum you have 2 actions under the FDCPA and 2 actions under the FCRA for reporting a collection as an installment on EQ and as something other than a collection on EX.

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No but you need to have those copies. I don't know how legal savvy you are but OK is similar to OH in that while there aren't parallel FCRA/FDCPA laws, we both have Consumer Protection Acts.

For any claim or counter-claim against Asset, you would also incorporate the state claims with your FCRA and FDCPA claims (remember both the FCRA and FDCPA are strict liability statutes). Basically, you are a "consumer" as defined by the act and Asset is a "supplier" and you can find it under 15 O.S.1991, § 751

Here's an example (P/D is Plaintiff/Defendant depending on whether you sue first or Asset does):

Second Claim (or whatever)

Violation of the Oklahoma Consumer Protection Act

##. P/D's acts were deceptive trade practices and unfair trade practices and therefore violated the Oklahoma Consumer Protection Act.

##. P/D's acts were done in bad faith and there violated the Oklahoma Consumer Protection Act.

##. P/D's acts were unconscionable and there fore violated the Oklahoma Consumer Protection Act.

Then in your Request/Prayer for Relief

As a result of the above violations of the Oklahoma Consumer Protection Act, P/D's acts were unconsionable and P/D is therefore liable to [you] for damages in the amount of aaaaaaa Thousand Dollars ($00,000) (Two Thousand Dollars ($2,000) per violation).

Yeah, that's right per violation.

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