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After validation, what next


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Ok, I'm in Wisconsin.

Got a letter from a collection agency of lawyers. I responded with a DV letter from here and they responded with a letter telling me the OC and other info including debt owed.

As I understand it, that is somehow considered validation even though they haven't provided a statement and I sincerely doubt they can/will ever provide a statement. Certainly not one with my signature.

Assuming I don't want to settle, is there anything I can do at this point? I could potentially send a letter in response to their DV response and say they didn't provide acceptable DV info or something like that and spout some case law so they know I'll fight them in court. I don't know that would do much of anything.

Is the next step to simply wait to see if they sue (and I suspect they will) and then fight them in court? Essentially force them to prove the debt is mine.

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Do you know the "Date of first delinquency"? WI has both an SOL and a "statue of repose" (SOR). If the DOFD is older than 3 yrs, the debt is dead and uncollectable...

Hold on...are you serious?

Last payment would have been Feb of 2008 which makes this 3.5 years old and this is the very first communication I've gotten regarding this account ever.

I've never even heard of SOR and google doesn't show much of anything. Do you have any further info or links?

This is the closest I've found...

Wisconsin Statute of Limitations

According to that site the SOL/SOR for contracts is 6 years, not 3.

Edited by Jreed
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Let me try to makeup for my "senior moment".

Search for posts by "trueq"...he's had a lot to say about WI...including using the election of arbitration to discourage creditors from pursuing the debt.

NOTE: This assumes your creditor is a CC and the cardholder agreement has an arbitration clause in it. Arbitration doesn't make the debt go away...it just makes it expensive for them to collect.

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Let me try to makeup for my "senior moment".

Search for posts by "trueq"...he's had a lot to say about WI...including using the election of arbitration to discourage creditors from pursuing the debt.

NOTE: This assumes your creditor is a CC and the cardholder agreement has an arbitration clause in it. Arbitration doesn't make the debt go away...it just makes it expensive for them to collect.

It is a CC. BoA in fact. But I do not have the cardholder agreement. is there a way to find out if I can invoke arbitration with BoA.

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Let me try to makeup for my "senior moment".

Search for posts by "trueq"...he's had a lot to say about WI...including using the election of arbitration to discourage creditors from pursuing the debt.

NOTE: This assumes your creditor is a CC and the cardholder agreement has an arbitration clause in it. Arbitration doesn't make the debt go away...it just makes it expensive for them to collect.

ok...I just pm'd with trueq on the other board.

BoA is in Deleware. And deleware law has a SOL of 3 years.

With that in mind, should I send a simple letter to the CA saying the debt is beyond the statute of limitations in DE where the OC resides and if they choose to sue me I will not hesitate to file an immediate counterclaim?

I had no idea DE law would apply.

Family And Consumer Law-- The Blog: Thinking About Delaware Can Make Me Money? Tell Me More!

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One of the problems with trueq is that while he does have valuable information, he tends to think of his opinions as law.

There is a lot of discussion on the board, here, about whether or not "choice of law" (in other words, what state) applies in all cases. It depends on what state you're in, how much you owe (can they sue in federal court?), and a host of other things. You may be able to use DE law, but, if they think its worth a shot, they may sue you in WI and see what the judge thinks. And...if he agrees that DE law does apply, then the WI SOR probably doesn't...so they may just sell the debt to a JDB who will start the whole thing over again. Then, there's the whole question of the IRS coming after you for taxes on the "found money".

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  • 4 weeks later...
It is a CC. BoA in fact. But I do not have the cardholder agreement. is there a way to find out if I can invoke arbitration with BoA.

do a search for cardholder agreement - I just saw (but don't have it open any longer) where someone had posted a link to a whole list of agreements for ALL credit cards!

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  • 3 weeks later...
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