SalParadise Posted April 12, 2012 Report Posted April 12, 2012 Good afternoon, guys/gals.I took a short break after my first week--I'll be back posting soon enough. In the interim, a question for the community.My girlfriend just got a dunning letter from a CA. Haven't pulled her CRs yet so I'm not sure if it's the OC's or JDB's CA. Anyway, my validation strategy for her is quite a bit different than for myself (bare-bones, let them screw themselves over with FDCPA violations). For her, I want to to keep her out of litigation and keep the can being kicked down the road until SoL and FCRA limits set in. To do this, I'm going to craft a letter that basically says this:Dear Douchalister and Baggins, Inc:I am in receipt of your letter, validation is being requested, etc. etc.--Then--Pursuant to FDCPA blah blah, show me the following:(requirements per FDCPA)--Here's the kicker--Additionally, I require you produce the following material:1. How and when you came into possession of the alleged debt2. A certified/notorized Bill of Sale between you and the Original Creditor of the alleged debt3. If you did not purchase the alleged debt from the OC, a certified/notorized Bill of Sale between you and the selling party.4. Certified/notorized documentation showing appropriate Chain of Custody of the alleged debt from the OC to you5. A legal contract bearing my signature for the alleged debt6. A legal contract that establishes a relationship between myself and your organization, and any interstitial organizations.7. Financial statements showing a complete credit/debit history of the alleged debt.8. In any financial transactions wherein the ownership of the original debt or any portion thereof changed hands, show your compliance with all Federal and State laws governing such transactions.Though this should go without saying, all of the requested documents must be originals.I look forward to your anticipated cooperation.SignatureName====END LETTER====Before you go "Ag, no, not a kitchen sink letter", consider what I'm trying to accomplish, which is this: basically inform them that I know what they need to prevail in a suit, and unless you have it, see ya in hell. In short, a bluff. While I'm not at all averse to going lick-for-lick in my own personal affairs, I want her to remain litigation-free until SOL/FCRA limits. I'm asking for your comments, and if you have any knowledge of federal regulations that govern the sale of these types of debt (SOX Act, etc.)Thanks all.
usagi555 Posted April 13, 2012 Report Posted April 13, 2012 A kitchen sink letter is a kitchen sink letter no matter what you are trying to accomplish. The CAs won't give a damn. It'll either scare them off, or it won't. If it scares them off, I bet a "I dispute this debt in its entirety and demand you validate" letter would do the same. You're dealing with an industry where the mo is to NOT listen to people. You wanna scare them off? Get hard evidence of FDCPA violations and send it to them. Especially if its an OC, it'll just get sent to the next CA. This'll keep on happening until they either sue or sell it to a JDB.
BV80 Posted April 13, 2012 Report Posted April 13, 2012 (edited) I agree with Usagi. The letter you posted is a letter that can be found on the internet and sent by anyone. JDBs know that. Therefore, they don't automatically believe the sender is aware of what's required for a JDB to prevail in court.In addition, if not dealing with a JDB, the request for a bill of sale will tell them the sender sent a "kitchen sink" internet letter. Edited April 13, 2012 by BV80
1stStep Posted April 13, 2012 Report Posted April 13, 2012 Why waste the toner when a simple letter will do...Dear CA:I dispute the alleged debt and demand validation-MeIn my experience, it works better and has been good for 1 or 2 CAs contributing to my Latin American Retirement Palace Fund.
usagi555 Posted April 13, 2012 Report Posted April 13, 2012 (edited) Why waste the toner when a simple letter will do...Dear CA:I dispute the alleged debt and demand validation-MeIn my experience, it works better and has been good for 1 or 2 CAs contributing to my Latin American Retirement Palace Fund.Aside from making some majorly snarky DV letter, the only reason that I wouldn't send one like that and would send a kitchen sink letter would be to make them **** or get off the pot in a hurry.Dear JDB Douchebots,I dispute this alleged debt in its entirety and demand validation.Furthermore, I wouldn't pay anybody whom I don't know and if they can't prove that I owe the alleged debt to them or even if I owe it at all. Therefore, I demand that you provide the following:All proof showing a complete and clear chain of title of the alleged debt.A complete accounting of the alleged debt, back to the first day the alleged account was opened.The original agreement you allege I entered with the OC, along with every amendment and the dates those amendments took effect.Proof that I was properly notified regarding the initial agreement and each amendment thereafter.Proof that I applied for the alleged account.Signed charge slips proving that I used the alleged account.All proof of payments allegedly made by me, including but not limited to canceled checks, copies of money orders, etc...Since I know that you are not in the habit of providing these documents and you are not legally required to at this point, I expect you to take me to court and then we will resolve the issues involving the documentation that I require during the discovery process.Eagerly Awaiting Your Summons,usagi555 Edited April 13, 2012 by usagi555
SalParadise Posted April 13, 2012 Author Report Posted April 13, 2012 Right, I understand the consequences of the Kitchen Sink letter. What I'm more interested in discussing is financial regulations re the sale of default consumer debt. Protocols, procedures, required documentations (and filings with state/feds, if any), etc. What is the proper process by which an OC and JDB must comply in order for the sale to take place. Is it really just a bill of sale and a payment? Has recent legislation vis-a-vis Dodd-Frank changed the game in any way? etc.
usagi555 Posted April 13, 2012 Report Posted April 13, 2012 Right, I understand the consequences of the Kitchen Sink letter. What I'm more interested in discussing is financial regulations re the sale of default consumer debt. Protocols, procedures, required documentations (and filings with state/feds, if any), etc. What is the proper process by which an OC and JDB must comply in order for the sale to take place. Is it really just a bill of sale and a payment? Has recent legislation vis-a-vis Dodd-Frank changed the game in any way? etc.The only time they'll really care about that is if the letter you sent them was actually written by somebody who's last name is followed by the word Esquire and is on that person's letterhead, or after you've sent them a summons.
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