dawnhu Posted August 27, 2018 Report Share Posted August 27, 2018 I was just curious if debt validation is a good idea? I received letter from a collection agency stating that they have purchased a charged off debt from Sallie Mae (Not federal, Private Loan). In the letter they sent they give me the balance owed. The amount is high, close to $10,000. In the letter, it looks like they do have the full account number, and balance owed and purchased from Sallie Mae. In the letter they go on to state that I can send a debt validation letter within 30 days, without that letter they will assume the debt to be valid and it goes onto say they will obtain a judgement against me. I know now to deny everything; however I wasn't sure whether or not to send the request for debt validation; due to denying everything later..thanks for any insight... Just to clarify they are within the SOL, last payment date was September 2017 Link to comment Share on other sites More sharing options...
Harry Seaward Posted August 27, 2018 Report Share Posted August 27, 2018 38 minutes ago, dawnhu said: it goes onto say they will obtain a judgement against me. It says they "will" or they "may"? If it says "will" it could possibly be a violation, but hard to prove because you only have 2 years to sue them and they can always say "we were gonna, we just haven't gotten around to it yet." The bar for validation is so low you could trip over it. The only upside to it is if they continue collection activity before validating. But considering the amount of the debt and the fact that the max you could collect is $1,000 in violations, the best you could hope for is for them to knock $1,000 off the debt. I'd probably just lay low and hope they lose your file between filing cabinets or something. Link to comment Share on other sites More sharing options...
DebtAssassinBook.com Posted August 27, 2018 Report Share Posted August 27, 2018 Debt validation is a great idea. You should always ask for validation and dispute the debt simultaneously. A validation request stops any collection activity including reporting to the credit bureau. If the collector can't or doesn't validate they can't report it to the account to the credit bureau. If they have already reported prior to getting your validation request they must notify the bureau that the debt is disputed. The notification of the "disputed" status on your report is basically useless. That said, collection agencies rarely report the debts as disputed. If they don't you can sue under the Fair Credit Reporting Act which can result in the debt being wiped out and $1000.00 in your pocket. Below is a copy of a suit I settled with a collector in small claims court. I got $2069.00 as a settlement in mediation. Link to comment Share on other sites More sharing options...
DebtAssassinBook.com Posted August 27, 2018 Report Share Posted August 27, 2018 54 minutes ago, Harry Seaward said: It says they "will" or they "may"? If it says "will" it could possibly be a violation, but hard to prove because you only have 2 years to sue them and they can always say "we were gonna, we just haven't gotten around to it yet." The bar for validation is so low you could trip over it. The only upside to it is if they continue collection activity before validating. But considering the amount of the debt and the fact that the max you could collect is $1,000 in violations, the best you could hope for is for them to knock $1,000 off the debt. I'd probably just lay low and hope they lose your file between filing cabinets or something. Actually, you only have one year under the FDCPA and if you work it right you can have the entire debt wiped out as part of the settlement. I've done it 4 times. Link to comment Share on other sites More sharing options...
BV80 Posted August 27, 2018 Report Share Posted August 27, 2018 18 minutes ago, DebtAssassinBook.com said: Actually, you only have one year under the FDCPA and if you work it right you can have the entire debt wiped out as part of the settlement. I've done it 4 times. There are plenty of us on this site who have done the same thing. Link to comment Share on other sites More sharing options...
DebtAssassinBook.com Posted August 27, 2018 Report Share Posted August 27, 2018 4 minutes ago, BV80 said: There are plenty of us on this site who have done the same thing. I don't see anyone posting proof like I just did. Link to comment Share on other sites More sharing options...
BV80 Posted August 27, 2018 Report Share Posted August 27, 2018 1 minute ago, DebtAssassinBook.com said: I don't see anyone posting proof like I just did. Most of those who have received settlement payments also have non-disclosure clauses in the agreements. 1 Link to comment Share on other sites More sharing options...
DebtAssassinBook.com Posted August 27, 2018 Report Share Posted August 27, 2018 4 minutes ago, BV80 said: Please ... that just an excuse. That's all I see on here are opinions and excuses. I don't see proof anyone has actually done anything. Post some documentation from PACER. That's public record Discloses nothing but final outcomes. Here's 11 cases I won, not including the small claims suits. Most of those who have received settlement payments also have non-disclosure clauses in the agreements. 2 Link to comment Share on other sites More sharing options...
BV80 Posted August 27, 2018 Report Share Posted August 27, 2018 @DebtAssassinBook.com Most posters choose not to reveal their identities and personal information. In fact, we encourage anonymity for the sake of personal privacy. This site has been around a long time, so please do not assume that you are the only person here who has ever reaped the benefits of settlements for consumer law violations. Link to comment Share on other sites More sharing options...
DebtAssassinBook.com Posted August 27, 2018 Report Share Posted August 27, 2018 12 minutes ago, BV80 said: @DebtAssassinBook.com Most posters choose not to reveal their identities and personal information. In fact, we encourage anonymity for the sake of personal privacy. This site has been around a long time, so please do not assume that you are the only person here who has ever reaped the benefits of settlements for consumer law violations. 38 minutes ago, BV80 said: Please ... that just an excuse. That's all I see on here are opinions and excuses. I don't see proof anyone has actually done anything. Post some documentation from PACER. That's public record Discloses nothing but final outcomes. Here's 11 cases I won, not including the small claims suits. Most of those who have received settlement payments also have non-disclosure clauses in the agreements. 2 Link to comment Share on other sites More sharing options...
DebtAssassinBook.com Posted August 27, 2018 Report Share Posted August 27, 2018 Just now, DebtAssassinBook.com said: Yup more excuses. So this is a place for people to just run their mouths. PACER is PUBLIC Access to Court Electronic Records. It's PUBLIC record. Privacy in most cases is an excuse for people who can't prove their BS statements. They could redact the really personal stuff. Link to comment Share on other sites More sharing options...
DebtAssassinBook.com Posted August 27, 2018 Report Share Posted August 27, 2018 1 minute ago, DebtAssassinBook.com said: Yup more excuses. So this is a place for people to just run their mouths. PACER is PUBLIC Access to Court Electronic Records. It's PUBLIC record. Privacy in most cases is an excuse for people who can't prove their BS statements. They could redact the really personal stuff. Gotta go. I have important things to do. Won't waste my time with another useless message board. Link to comment Share on other sites More sharing options...
texasrocker Posted August 27, 2018 Report Share Posted August 27, 2018 6 hours ago, DebtAssassinBook.com said: Gotta go. I have important things to do. Won't waste my time with another useless message board. Good riddance. 1 1 Link to comment Share on other sites More sharing options...
Harry Seaward Posted August 27, 2018 Report Share Posted August 27, 2018 9 hours ago, DebtAssassinBook.com said: Gotta go. I have important things to do. Won't waste my time with another useless message board. Bye. You don't seem to know how to use our board anyway. 2 Link to comment Share on other sites More sharing options...
Goody_Ouchless Posted August 27, 2018 Report Share Posted August 27, 2018 I notice his cases aren't exactly "fresh." Looks like he's from the Golden Age of Violations. Another DB cast off, abandoning the sinking ship. Checkout website - looks like something from The Onion. Link to comment Share on other sites More sharing options...
Goody_Ouchless Posted August 27, 2018 Report Share Posted August 27, 2018 13 hours ago, dawnhu said: I was just curious if debt validation is a good idea? Years ago, maybe. Now all it does is let them know that they found the right person. Link to comment Share on other sites More sharing options...
BV80 Posted August 27, 2018 Report Share Posted August 27, 2018 33 minutes ago, Goody_Ouchless said: I notice his cases aren't exactly "fresh." Looks like he's from the Golden Age of Violations. Another DB cast off, abandoning the sinking ship. Checkout website - looks like something from The Onion. I'd like to see the court rulings in all of his lawsuits. I would hope that he knows a debt collector's willingness to settle means nothing more than it didn't feel like fighting. Absent court rulings on the merits of his claims, he's proven nothing more than his status as a serial litigant who knows how to file a complaint. Link to comment Share on other sites More sharing options...
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