For once and for all who is RIGHT and who is WRONG???

[freeatlastt]

I have been reading these boards for quite a while now and im more confused then ever when it comes to Validation. I live in California

Some posters on this board say that PROPER Validation need only contain OC name account number and charge-off amount.

Yet others say this is NOT proper Validation.

The Validation I got from MCM was a Xerox copy of a statement that had the OC name address and charge off amount and the finance charge amount that didn't even equal to the amount they are asking me for.

They are asking for payment of 3,074.00

The first 30 days past due on this bill is October 2005 - that is what is says on my Credit Report

And if this IS proper Validation what would be a good Settlement offer I can write them up?

[swirlgirl]

The thing is the law states that all that has to be provided is the name and address of the OC. That's it. Now, other people like to believe that more is needed in order to validate. Validation will continue to be debated. So, there is not a definitive answer.

The real bottom line is if you know the debt to be valid. You can play games, wait to be sued, do nothing, offer a settlement, etc. It's really up to you. As far as an amount to offer, start really low and see what happens.

[admin]

Swirlgirl, the requirements you stated are only for the initial dunning letter.

Debt validation after that would be satisfied with a copy of a statement from the OC or a canceled check.

[nascar]

Debt validation after that would be satisfied with a copy of a statement from the OC or a canceled check.

Canceled check? Why do you include that?

Assuming that validation, as the majority of courts see it, is intended to "eliminate the recurring problem of debt collectors dunning the wrong person or attempting to collect debts which the consumer has already paid," and that "verification of a debt involves nothing more than the debt collector confirming in writing that the amount being demanded is what the creditor is claiming is owed."

How would a canceled check produced by the debt collector or creditor in any way provide "verification" that a certain amount is due? It seems that all a canceled check would show is that at some point in time, for whatever reason, the debtor paid the creditor a certain amount of money.

[CleverCynic]

You have to think civil burden, not criminal burden.

Whatever makes the judge's BS detector tingle is proof.

[jjgross]

Swirlgirl, the requirements you stated are only for the initial dunning letter.

Debt validation after that would be satisfied with a copy of a statement from the OC or a canceled check.

What if the oc information is incorrect?All a validation is if the oc or ca saying that you owe is that correct?to verify is the totals and if it's been charge off or inhouse collections is that right?I sometimes have senior moments so hang with me.

[nascar]

What if the oc information is incorrect?

Then, once you have received verification of who the creditor is and how much they are asking for, its on you to go back to them and correct the problem.

Under the FDCPA, the debt collector is nothing more than a contractor hired to perform a service. They aren't responsible for the information they are given. As such, the law does not require them to independently investigate the validity or correctness of the creditors claim.