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I received a letter from JBD Asset Acceptance LLC trying to collect debt for a credit card bill last paid 2010 in CA. Sent them a debt validation letter and in response they sent me a huge envelope with statements for the whole year? Is this good enough as their validation? What should I do? Any suggestions would be great. Thanks!

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That is all they need to send in a DV, but it is not enough to win with.  You can write them back and tell them you require DV to prove they own the debt, please provide a bill of sale, assignment agreement from OC, and original contract governing the account when it was active. (you may want to look to see if it has an arb clause).  If you do nothing, chances are they will file a suit against you.  also did you tell them not  that all phone calls are inconvenient  and if they need to contact you, please do it by written communication only.  That way if they call you or anything, they will be in violation.  In the mean time, try and find a cardholder agreement from the year you opened the account, and see if the arb clause has a survivabilty clause in it, as well as what state governs the account.

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I will write them back to tell them that. I did not mention the phone calls but will make sure to do so in the next letter. Is there a general place to find credit card agreements from certain years? It's been many years and I have moved since then so I have no clue where to get this kind of information from. It was an account from B of A.

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search for a b of A for before 2010, I think that is the year most banks took the clause out.  every time they update their agreements, they send you a copy, if you use the card after that (not by making payments, but by purchasing from it) it usually means you agree to the new terms.  If you didn't use your card in 2010, you are probably covered.  If you did use the card, some contracts have a suriviabilty clause, meaning the option for arbitration stays on the table  How much is the debt for? If it is less than 10k they usually don't like to go to arb, it costs them money- especially if you can do it through jams.

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search for a b of A for before 2010, I think that is the year most banks took the clause out.  every time they update their agreements, they send you a copy, if you use the card after that (not by making payments, but by purchasing from it) it usually means you agree to the new terms.  If you didn't use your card in 2010, you are probably covered.  If you did use the card, some contracts have a suriviabilty clause, meaning the option for arbitration stays on the table  How much is the debt for? If it is less than 10k they usually don't like to go to arb, it costs them money- especially if you can do it through jams.

Looks like last purchase I made was Feb 2010 and last payment was Jan 2010. The amount is $4k.

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wow!  excellent responses.  wish i had found this forum the first time i dealt with Asset Acceptance.  in hindsight, i should have pursued with the lawsuit they filed agst me instead of offering to settle for 35% of the principal.  turns out documents they sent in answer to my BOP (bill of particulars) had inconsistent credit card statements (different issuers).  most likely, your situation is the same....you got excellent guidance here..follow along...  (i had been paying monthly for the settlement but have not received any statements per their previous advise.  my account was "apparently sold to someone else -- who is trying to collect after the settlement --i had sent a Cease and Desist and that stopped them dead on their tracks..).

 

best to you,

homeschool mom

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