jyaz Posted July 18, 2007 Report Share Posted July 18, 2007 Just yesterday I set up payment arrangements with a collection agency. I found out info from this webiste and I would like to validate the debt before proceeding. I am feeling that I should cancel the check by phone (due today) and investigate further. Have I already missed out on the opportunity for validation? Have I cancelled my right since I have spoken with them? This debt is so old it is not even on our credit report. We were just afraid that since it is from a laywer(collection agency), that we would end upwith a judgement (that happened before).HELP! Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted July 18, 2007 Report Share Posted July 18, 2007 IMO, I would send a DV to them and tell them that you may have hastately agreed to make payments on a debt you are not sure is yours. I would also rescind the authorization to draft on your bank account. I would then ask for debt validation before I would make any arrangments. Personally, I would write this all out, take it to the bank and have a notary verify what documents you will be including in the sealed envelope, then I would send it CMRRR. If they continued to take money from that point on then I would use that against them. Link to comment Share on other sites More sharing options...
swirlgirl Posted July 18, 2007 Report Share Posted July 18, 2007 Hi, I would send a DV letter anyway. It the letter state that "before you can finalize any payment arragnements, you would like to validate the debt. Please send... documents."When dealing with a CA, I always ask for a copy of the original signed promissory note, a complete payment history and any documentation showing how the outstanding amount was calculated. I also ask for a copy of any assigment agreement between the CA and the original creditor.Send everything CMRRR and be sure to follow up on this should they not respond. Link to comment Share on other sites More sharing options...
jyaz Posted July 18, 2007 Author Report Share Posted July 18, 2007 Thank yiou! I was feeling so lost! I can't believe how much stuff I do not know and how difficult it is to find. Link to comment Share on other sites More sharing options...
Ahntara Posted July 18, 2007 Report Share Posted July 18, 2007 You should also read up on Arizona SOL law and see if making payment arrangements has reset or tolled the time period. There is a sticky at the top of the page. Link to comment Share on other sites More sharing options...
jyaz Posted July 18, 2007 Author Report Share Posted July 18, 2007 Yes, thank you. I worry that I have just reset the SOL. I read it for my state. I can't really tell. Link to comment Share on other sites More sharing options...
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