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Debt Validation / settle or fight?


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I'm not sure if I have the Right Forum but...

I sent a DV to a Lawyer (in MO) Whom is Representing a CA (who is out of my State)(in NY).

In letter I specifically asked for Pursuant title 15 usc 1692(E) and 1692(F) to provide evidence they are authorized to handle this matter.

I also asked for the

1. Legal basis for Collection of information

2. Legal basis for your collection of the purported debt.

3. Evidence you are authorized to do business or operate in my State.

5. Provide proof of the alleged debt, Including specifically the alleged contract bearing my signature.

6. Complete account history relative to the puprported debt, including charges added for collection activity.

I also stated they have 30 days from receipt of this notice to respond, Failure to respond,on point within a time frame, will work as a waiver to any and all claims in this matter.

I sent this letter on JUNE 13 2011. Received their response SEPTEMBER 16 2011,

A.Of which all I received was the Name of the OC, and their address.

B.The name of the current CA.

C. And 1 copy of a billing Statement.

(which a has lower amount on it 2924.42 ) (compared to what they are wanting 3491.48 )

I did not receive this within 30 days. Approx 3 months later I get a response.

I did not receive my Signature on a contract.

Where do I go from here ?

I'm a little nervous because this is a Lawyer who is Authorized in MO, I double checked with the Mo state bar.

I sent a settlement offer back in February to the current CA but got no response. I had offered 1300.00

I'm stumped on what to do from here, Any help or thoughts would be greatly appreciated,

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What to do depends on what you want out of this. If you are in a hurry to clear things up, such as because of applying for a mortgage, then that can mean a completely different course of action compared to being able to wait a while. Often, people find that it is preferable (and less costly) to just pay a debt they don't even owe. Is this a debt you owe? Do you want to pay it in part?

Tell us what you want to get out of this. Then we can tell you how easy or difficult that might be, alternative options, and the best ways to go about it.

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They are Representing a CA. I don't know if it's a CA or a JDB. I assume they bought the Debt from the OC.

The OC has CO on all 3 Credit reports.

The CA originally contacted us last September 2010. over the phone the CA Violated FDCPA several times, Problem is I didn't get it on tape.

I did contact our State Attorney General sent a formal complaint, They must have followed up onit, Because we then got a letter response from the CA denying it.

I don't care if the CA gets the money because of their actions, but I don't want to be hauled into court only to loose and pay lawyer fees on top of the full amount.

1. Since the Letter I sent to the Lawyer asking for it back in 30 days, only to receive it 3 months later. Does this play in my Favor?

2. How long should I wait to respond back to the lawyer (they gave no time frame)

3. Should I send the same settlement amount 1300.00(that went un responded by the CA) to the Lawyer ?

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No your demands mean nothing and carry no weight. Unless your in Texas they can take as long as they want. Notice how they did not give you a time frame to get back with them? That's because they have no authority to make that demand.

They also don't have to provide you with the contract or anything else you demand. A DV letter basically needs to say, I dispute, validate the debt, contact by phone is inconvienent, that's all.

It's the valdation process and not court discovery.

I can't tell from your post if it is an OC or a JDB to be honest with you. If you can figure that out, I and sure other can assist. It really does make a ton of difference. It can easily be the difference in paying nothing or 100%.

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Personally, I unless you need to have this off your report for a large purchase (house) or shown as a paid account, I would send them a letter by certified mail.

It should simply state you dispute the alleged account and alleged debt along with a restriction on calling you and to communicate by mail only. About two sentences at the most.

Then just wait. There are not a lot of options. They will either sue or they won't. For the amount you are talking about you could put an arbitration election into your letter if you want. That might get them to go away and if they do sue you after your election you at least have a FDCPA counterclaim.

I don't mind PM you but they are all pretty much the same. The fact you send a follow up denial and dispute will put you ahead of 95% of all the other debtors they contact.

It's no guarantee they will sue, but you just way reduced your chances. They want cheap defaults, not people that dispute and/or elect arbitration and other strategic moves that effect their bottom line.

If you need something done with this a.s.a.p. then it's another story. There are still ways to work it, don't get me wrong, but if they sense your desire to get it off your report they will dig in.

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I did send the Lawyer the DV letter.

I'm assuming I need to send a Dispute letter to them also ?

The OC has Charged off the Debt on all 3 credit reports.

My credit is shot, and I won't be making any big purchases anytime soon so I could care less about the credit scores. I'm paying cash for everything and thats fine with me.

Edited by Elky1969
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I did send the Lawyer the DV letter.

I'm assuming I need to send a Dispute letter to them also ?

The OC has Charged off the Debt on all 3 credit reports.

My credit is shot, and I won't be making any big purchases anytime soon so I could care less about the credit scores. I'm paying cash for everything and thats fine with me.

Check your credit report. If the debt has been sold, the original creditor's entry will state "sold/transferred". That means you're dealing with a JDB.

If the debt is merely charged off, but not sold, you're dealing with a collection agency who's working for the OC.

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Check your credit report. If the debt has been sold, the original creditor's entry will state "sold/transferred". That means you're dealing with a JDB.

If the debt is merely charged off, but not sold, you're dealing with a collection agency who's working for the OC.

Trans union report shows it as a Charge off/Bad Debt.

Equifax report shows it as a Charge-off and activity designator Transferred/sold

I have not pulled the other credit report yet.

Why are 2 different reports showing 2 different things ?

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Why are 2 different reports showing 2 different things ?

Because they are two different, independent, credit reporting agency. There are three of them actually.

The law requires the information being reported, must be accurate. What is not accurate, that is being reported on the two different reports.

The debt is charged off and it is also sold to somebody else. The third agency might report it as past due, that is also true.

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Trans union report shows it as a Charge off/Bad Debt.

Equifax report shows it as a Charge-off and activity designator Transferred/sold

I have not pulled the other credit report yet.

Why are 2 different reports showing 2 different things ?

I should have added that if the original creditor has sold the debt, then they must report the balance or recent balance as "NA" or -0-. They can't show that a balance is owed, if they've sold the account. Are they reporting a balance or recent balance?

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I should have added that if the original creditor has sold the debt, then they must report the balance or recent balance as "NA" or -0-. They can't show that a balance is owed, if they've sold the account. Are they reporting a balance or recent balance?

Trans union is showing it as a Balance 3491.00 Charge off as bad debt

Remarks as. Profit and loss writeoff.

Equifax is showing Balnace as $0 But shows it as Charged off account and Also have it as Tranfer/sold.

If one of these is contradicting the other, which one do I go after first to get it off? or Can I get it off.

Would I still have the JDB and the Lawyer to contend with? if I can get these off the credit reports?

I did send a Dispute letter to both of them in June, Got one response back and all it was, was verified.

At the time I was still learning this process and didn't know what verified meant. So I didn't do anything about it.

I will pull the 3 rd credit report tomorrow and I will post what it says.

Thanks for your help in this matter.

Edited by Elky1969
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OK now I'm totally confused and MAD. please help.

I pulled all three credit reports for this Debt. Under my Wifes name.

A. Transunion Equifax Experian all show Charge-Off Transfer/sold

$0 balance due.

1. Experian shows Inquiry for the JDB. of which is Scheduled to continue on record until Oct 2012.

2. No inquiry for the JDB on Equifax, or Transunion.

Here's the kicker. under my Name

The Three credit reports for the same Debt

A. Experian doesn't even show it

B. Transunion Shows it a Charge off as bad debt / profit loss writeoff. Does not show it was Transfer/Sold $0 balance

C. Equifax shows Charge off account. Balance $3491, past due $760.00

Does not show it was transfer/sold

Am I missing something here ? Equifax smoking dope ? I said prior post I dont care about credit report, but now this has me Curious as to WTH going on.

Can any one direct me on this? I know I need to Dispute it now, Do I dipute Equifax? since their showing a balance and a Charge off at the same time. Is this legal ?

And what do I do about the JDB and the Lawyer at the same time ?

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Is the debt yours or your wife's? Is it outside the SOL for collecting in your state?

If it's not outside the SOL for collections, I'd simply call the original creditor, and ask them if they still own the debt, or if they've sold it. At least you'd know if the collection agency is working for the OC, or if they are a JDB collecting for themselves.

If it has been sold, I'd dispute the original creditor's entry with the CRAs as incorrect. If it comes back verified, send a letter to the OC. Tell them they've sold the debt, need to correct their information, and show a -0- balance.

If it has not been sold, I would not dispute the debt with the CRAs. I wouldn't want to put myself on their radar.

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Is the debt yours or your wife's? Is it outside the SOL for collecting in your state?

If it's not outside the SOL for collections, I'd simply call the original creditor, and ask them if they still own the debt, or if they've sold it. At least you'd know if the collection agency is working for the OC, or if they are a JDB collecting for themselves.

If it has been sold, I'd dispute the original creditor's entry with the CRAs as incorrect. If it comes back verified, send a letter to the OC. Tell them they've sold the debt, need to correct their information, and show a -0- balance.

If it has not been sold, I would not dispute the debt with the CRAs. I wouldn't want to put myself on their radar.

It is not outside the SOL for Mo.

The Debt is my Wife's but we where both on the card, if that makes since.

Interesting though why 3 CRA's show it as sold and charge off under my wife's name.

But then the one under my name still shows current.

I'll do some calling thanks for the input.

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It is not outside the SOL for Mo.

The Debt is my Wife's but we where both on the card, if that makes since.

Interesting though why 3 CRA's show it as sold and charge off under my wife's name.

But then the one under my name still shows current.

I'll do some calling thanks for the input.

If you were merely an authorized user, dispute the account with the credit reporting agencies as "not mine". That should remove the entry from your CRs.

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As for the Lawyer would I be wasting my time, if I sent the Lawyer a Dispute letter to?

The only thing sent back from the Lawyer to my Requested DV was 1 copy of a statement.

They did not send everything I requested and it was 3 months later, not within the 30 days I asked for.

Any thoughts here ?

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