draexo Posted February 9, 2012 Report Share Posted February 9, 2012 I sent out three validation letters about 3 weeks ago.Please note that these are 3 collection agencies that I had been paying for the last year until I learned that I need to make sure they own the debt.Collection Company A, which is an "attorney office" sent me a reply saying they will research it and get back to me.Collection Company B has not gotten back to me.Collection Company C sent me a one page letter stating the original creditor, original account number and original balance.I was happy to receive replies to my validation request as these are old debts I had been paying on. They are with junk collectors and I suspect I can settle them for much less than I owe. Two of them I have paid almost 70% of the original amount and one of them I have paid about 50% of the original amount.As of now, I have stopped payments and they have not called me.My first question is this: Has company C provided me with proper validation?There is a form letter somewhere that states they need to provide me with more than this. Do I send Company C another letter asking for more validation? Link to comment Share on other sites More sharing options...
BV80 Posted February 9, 2012 Report Share Posted February 9, 2012 Since you sent the DV requests more than 30 days after their first contact with you, they're not required to respond at all. Their first letter would have given you a 30 day notice in order to request validation. It's only when you request DV during that time that they're required to respond if they want to continue collection efforts.Yes, Company C validated. Link to comment Share on other sites More sharing options...
draexo Posted February 10, 2012 Author Report Share Posted February 10, 2012 Since you sent the DV requests more than 30 days after their first contact with you, they're not required to respond at all. Their first letter would have given you a 30 day notice in order to request validation. It's only when you request DV during that time that they're required to respond if they want to continue collection efforts.Yes, Company C validated.Yes, I understand that they are outside the 30 day window.However, I must be misunderstanding the validation process. I thought they needed to provide documents from the original creditor. All they have given me is a summary of the original amount owed and who the original creditor was. How does that prove that they own the debt now? Link to comment Share on other sites More sharing options...
BV80 Posted February 10, 2012 Report Share Posted February 10, 2012 Yes, I understand that they are outside the 30 day window.However, I must be misunderstanding the validation process. I thought they needed to provide documents from the original creditor. All they have given me is a summary of the original amount owed and who the original creditor was. How does that prove that they own the debt now?A collection agency doesn't own debts. They merely collect for original creditor. A company who purchases debts is a junk debt buyer (JDB).Check the entries of the original creditors on your credit report. If an account has been sold, the entry will state "sold/transferred" or "sold to another lender"...something along those lines. If the entries don't indicate that, then the OCs still own the accounts.In any case, none of the agencies to whom you sent DV requests were obligated to respond. Also, a validation is nothing more than the name of the OC and the amount. They don't have to provide proof of ownership in order to validate. Link to comment Share on other sites More sharing options...
draexo Posted February 10, 2012 Author Report Share Posted February 10, 2012 A collection agency doesn't own debts. They merely collect for original creditor. A company who purchases debts is a junk debt buyer (JDB).Check the entries of the original creditors on your credit report. If an account has been sold, the entry will state "sold/transferred" or "sold to another lender"...something along those lines. If the entries don't indicate that, then the OCs still own the accounts.In any case, none of the agencies to whom you sent DV requests were obligated to respond. Also, a validation is nothing more than the name of the OC and the amount. They don't have to provide proof of ownership in order to validate.On my credit report is says "account transferred to another lender or claim purchased". It does not state who.How do I know I owe them the debt? Link to comment Share on other sites More sharing options...
BV80 Posted February 10, 2012 Report Share Posted February 10, 2012 On my credit report is says "account transferred to another lender or claim purchased". It does not state who.How do I know I owe them the debt?You don't for sure. That's why I never pay a JDB. Are these debts within the SOL? Link to comment Share on other sites More sharing options...
Coltfan1972 Posted February 10, 2012 Report Share Posted February 10, 2012 (edited) How do I know I owe them the debt?Because they told you they owned the debt and you now owe them. Edited February 10, 2012 by Coltfan1972 Link to comment Share on other sites More sharing options...
draexo Posted February 10, 2012 Author Report Share Posted February 10, 2012 You don't for sure. That's why I never pay a JDB. Are these debts within the SOL?I am in NY with an SOL of 6 years. I paid them until recently, so I do not know when the SOL resets.They are a JDB and are not showing on my credit report. Link to comment Share on other sites More sharing options...
draexo Posted February 10, 2012 Author Report Share Posted February 10, 2012 Because they told you they owned the debt and you now owe them.Where is the proof?A simple statement with original account information is sufficient? Seems to be lacking to me.I need to amend my original statement.I am thinking all three of these entities that I called Collection Agencies are actually JDB collectors. Link to comment Share on other sites More sharing options...
usagi555 Posted February 10, 2012 Report Share Posted February 10, 2012 DVing isn't court. They don't have to give you much more than "yup, you're the right person, we have the right amount listed and (when applicable) here is who the OC was." Link to comment Share on other sites More sharing options...
draexo Posted February 11, 2012 Author Report Share Posted February 11, 2012 DVing isn't court. They don't have to give you much more than "yup, you're the right person, we have the right amount listed and (when applicable) here is who the OC was."So Company C has validated the debt.Company B I have not heard from and I have not paid.Company A says they are ordering up copies of everything.None of these companies appear on my credit report, only the OC's do and they all show as sold/transferred.What do I do with company C? The debt was 1600 and I have paid 1000 back in the last year and 1/2. I suspect they have more than made their money. I think I just stop paying and offer a settlement? Link to comment Share on other sites More sharing options...
Coltfan1972 Posted February 11, 2012 Report Share Posted February 11, 2012 Where is the proof?A simple statement with original account information is sufficient? Seems to be lacking to me.I need to amend my original statement.I am thinking all three of these entities that I called Collection Agencies are actually JDB collectors.I was just joking with you. That is what junk debt buyers do, say yep you us because we bought your account, now pay us because we say so. I had one in court present proof they owned the debt by presenting a letter confirming they now owned the account. Guess who wrote the letter? them, on their own letterhead. They wrote a letter confirming they owned the debt. However, during debt validation they pretty much have to provide you nothing. Them proving standing in the DV stage actually can be satisfied as simple as saying you now owe us. Link to comment Share on other sites More sharing options...
draexo Posted February 11, 2012 Author Report Share Posted February 11, 2012 I was just joking with you. That is what junk debt buyers do, say yep you us because we bought your account, now pay us because we say so. I had one in court present proof they owned the debt by presenting a letter confirming they now owned the account. Guess who wrote the letter? them, on their own letterhead. They wrote a letter confirming they owned the debt. However, during debt validation they pretty much have to provide you nothing. Them proving standing in the DV stage actually can be satisfied as simple as saying you now owe us.SO with JDB, is not the best practice to let them take you to court and prove that you now owe them? Link to comment Share on other sites More sharing options...
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