closet410 Posted July 18, 2007 Report Share Posted July 18, 2007 So a debt validation letter is sent to CA'syou request verification, NOT validation, with OC'sand investigation with when sending letters to the CRA's.Do I have this right? Im asking because I am writing my letter to TU and EQ RIGHT NOW as we speak. Link to comment Share on other sites More sharing options...
closet410 Posted July 18, 2007 Author Report Share Posted July 18, 2007 So a debt validation letter is sent to CA'syou request verification, NOT validation, with OC'sand investigation with when sending letters to the CRA's.Do I have this right? Im asking because I am writing my letter to TU and EQ RIGHT NOW as we speak.Nope. Just found out, Investigation is for OC's but my questions is still about the CRA's. Do you want investigation with them or verification? Link to comment Share on other sites More sharing options...
chilton1 Posted July 18, 2007 Report Share Posted July 18, 2007 Nope. Just found out, Investigation is for OC's but my questions is still about the CRA's. Do you want investigation with them or verification?The CRA does not verify. You dispute/request that they investigate and they contact the OC to verify.If the OC verifies then you send teh oc a letter requesting that they now investigate and verify the TL with you. Link to comment Share on other sites More sharing options...
1flyfisher Posted July 18, 2007 Report Share Posted July 18, 2007 Does they CRA contact the OC to verify? or just the CA?I thought it was just the CA. Link to comment Share on other sites More sharing options...
IHateCAs Posted July 18, 2007 Report Share Posted July 18, 2007 Disputing a debt with a CA directly triggers an obtain verification requirement. It's an informal process, but at a minimum they must contact the creditor and get confirmation that the debt is still owing and address any reasonable specific dispute you've offered. This is outlined in the FDCPA and only the FDCPA definition of "debt collector" is covered.Disputing entries on your CR triggers a much more thorough investigation requirement. It is an indirect dispute with a furnisher (which could be an OC or CA). The furnisher cannot rely on their computer records alone since the cause of the dispute likely comes from those records (as in Johnson v MBNA where MBNA had her listed as joint debtor when she was actually just an authorized user). Maximum possible accuracy is the key phrase here. This is outlined in the FCRA.Disputing directly with the OC is a feature of the FCBA which I am not versed in. It must be done in writing, and soon after receiving an incorrect billing statement. Within 60 days I think. Link to comment Share on other sites More sharing options...
ResolvingWarily Posted July 18, 2007 Report Share Posted July 18, 2007 The FCRA is at www.creditinfocenter.com/legal/FCRA.shtml The FDCPA is at www.creditinfocenter.com/legal/FDCPA.shtml I wonder why the the Fair Credit Billing Act (FCBA) or the Fair and Accurate Credit Transactions Act (FACTA) are not posted in www.creditinfocenter.com ? Link to comment Share on other sites More sharing options...
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