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Received Supposed DV from Midland, What Now?


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I am currently dealing with one credit card lawsuit, but recently I received a letter from a lawfirm on behalf of Midland Funding, assignee of Chase/Washington Mutual. I sent in a DV letter and their response was a letter stating OC, Account #, and Balance. They stated that their client claims the amount is still owed.

 

This is not real validation is it? Any advice on where to go from here?

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You might want to point out that the bar for debt validation is very low and they failed to clear it.  If they can't send a copy of a statement, a canceled check or even a letter from Chase, they have nothing. 

 

I'd also tell them to stop contacting you at this point, if you want to be rid of them.  You could be setting yourself up for another lawsuit, though, I won't lie.  

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I am currently dealing with one credit card lawsuit, but recently I received a letter from a lawfirm on behalf of Midland Funding, assignee of Chase/Washington Mutual. I sent in a DV letter and their response was a letter stating OC, Account #, and Balance. They stated that their client claims the amount is still owed.

 

This is not real validation is it? Any advice on where to go from here?

 

For the purposes of communicating with you at the moment it is probably enough.  Is it enough for a court case?  No.  The first question is when is the date of default with the original creditor?  The SOL in Texas is 4 years.  If the SOL has not expired and they can still file suit against you in court I would ignore the letters until that expires.  If the SOL has run out then you can safely send a cease and desist all contact with them regarding the debt.  

 

If they do sue you then you defend and use all the ammunition you can gather to cause them to fold.

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You might want to point out that the bar for debt validation is very low and they failed to clear it.  If they can't send a copy of a statement, a canceled check or even a letter from Chase, they have nothing. 

 

I'd also tell them to stop contacting you at this point, if you want to be rid of them.  You could be setting yourself up for another lawsuit, though, I won't lie.  

 

I may end up filing bankruptcy soon. Is there anything else I should point out to them. Should I ask them about showing how they are authorized to collect for chase and if they are authorized in my state or anything like that?

 

For the purposes of communicating with you at the moment it is probably enough.  Is it enough for a court case?  No.  The first question is when is the date of default with the original creditor?  The SOL in Texas is 4 years.  If the SOL has not expired and they can still file suit against you in court I would ignore the letters until that expires.  If the SOL has run out then you can safely send a cease and desist all contact with them regarding the debt.  

 

If they do sue you then you defend and use all the ammunition you can gather to cause them to fold.

 

Thanks for the input you two. They paperwork says the last payment was in late 2011. I'm actually in Arkansas. I think the SOL is 3 years.  I am considering filing bankruptcy and wiping all this crap out . So you suggest just ignoring them from now on? I am "collection proof" apparently. Should I inform them of this? Anything I can do to make them realize that I am not worth pursuing?

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I may end up filing bankruptcy soon. Is there anything else I should point out to them. Should I ask them about showing how they are authorized to collect for chase and if they are authorized in my state or anything like that?

 

 

Thanks for the input you two. They paperwork says the last payment was in late 2011. I'm actually in Arkansas. I think the SOL is 3 years.  I am considering filing bankruptcy and wiping all this crap out . So you suggest just ignoring them from now on? I am "collection proof" apparently. Should I inform them of this? Anything I can do to make them realize that I am not worth pursuing?

 

Regardless of your decision DO NOT talk to the collection agency.  NO good can come of it.  If you are that deep in debt then a consultation with a BK attorney is probably in order.  Most will do an initial consult for free.  Even if you are collection proof now it doesn't mean things will stay that way.  Judgments can last for decades (one state Ohio they are good for 21 years and renewable) so even if you are collection proof now they know getting a judgment can last for years and eventually you will want credit for something and pay up.

 

One thing to remember is most of the debtors say a lot of the things you are talking about "I am collection proof or filing BK" but never do so they won't pay a bit of attention.  If you are going to file you move forward with that plan regardless of who is contacting you.  Once you actually file it will include everyone you owe and the BK court will inform them that you have filed.  Then they can no longer contact you and if they do  you simply inform your attorney who will let the BK court handle it.  If they continue to harass you after that then you are in a position to sue them.

 

What you should do is discuss your debt and options with a good BK attorney and review which options are best for you.

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