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Is this appropriate validation from CA?

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CA sent a photocopy of a signed credit application from 1997 that kid filled out on college campus. Fine print at bottom says "First USA will review my credit history and income to determine whether I qualify for a card, and if so, my credit line". Also included are about 10 credit card statements with a cover letter stating they have enclosed "information to the above referenced claim". There is no indication that they own the debt.

Original credit line years ago was about $1,000 -- CA is saying balance is nearly $3,500!

What now? Is this proper validation?

Thanks so much!

A Mom trying to help a foolish kid :)

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Well, doesn't sound like SOL is the way to go. The part that makes validation what it is, is something with a signature on it. Sounds like that's what you received, so I'd say it covers validation.

Assuming that your young one was 18 when the paperwork was signed...

Just because the credit limit was $1,000 doesn't mean they don't tack on late fees, overlimit fees and interest.

Your best bet would to have them contact the creditor directly and have the entire payment history sent (to see if it in fact matches the CA's). You'll also be able to see how they arrived at that number.

From there, try to work with the OC directly - not the CA. Direct the communication to their executive offices. Try to settle the account if it's been charged off.

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I personally would come back at them with the fact that there is not a total and complete accounting history.

They are saying you owe 3500.. make them SHOW you where they got those figures. I mean how do you know that is the true and exact amount you have to pay?

Just my thoughts

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Sounds like they validated. Also sounds like you need more info from teh Kid.

You can continue the validation process with the CA, see if it comes up on kid's CR, then dispute the account with the OC via the FCRA. You may get to talk to them and settle. Just remember: anything the OC forgives <$600 is reportable to the IRS as income to the Kid.

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