Validation Letter
Filed Under: Collections
Filed Under: Collections
The debt validation is the beginning of eliminating the account. Some say “a debt is a debt is a debt” and pay up. However, if the “owner” who has purchased the alleged account in a portfolio is junk debt and worthless – PROVE IT. The law says to prove it. If major corporations cook the books in accounting, then what makes you think that collection agencies would not create fake documentation to look legitimate. It happens all the time. Collection agencies can and do operate as a business. That is not unusual. They also operate as fake attorneys offices. Unless you are aware of these facts, you are helpless. You must write the agency and ask for proof. Letters from debt collectors are not to be ignored.
It is imperative to document all action for your records. This basically states “do not contact me until you can send valid documents”.
12 Responses to “Validation Letter”
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Dear Next Level Credit-
What a great Site! My wife is currently being summoned by portfolio recovery sesrvices for an alleged credit balance of $3700 the summoms requires response within 20 days of feb 24 2010 notice.
Note creditor is listed as CACH LLC. We’ve dealt with CACH whom in 2008 used the judgement by default against her. Even attending numerous court dates, we missed a critical summons. According to cort clerk here in Mass summons need not be physically handed to defendant or family member. Luckily we did get the summons in time to respond. We think this could possibly be and old $2k(SOL) Providian account my wife had major trouble with. What we need is to send Validation Of Debt letter request to CACH LLC. What should this type of letter include as her response?
What do you think? thanks john Panna
John,
Thanks for your comment. We are glad this information is helful to you. An Answer & Affirmative Defenses needs to be filed to the court. The SOL can be one of your affirmative defenses and in the answer. SOL is hard to prove in the court. The VOD letter will not be sufficient at this time because now this is a court case. However, this can be used in your answer. Did you receive any correspondence from PRA prior to the summons?
You can answer the complaint Pro Se or with an attorney. Contact us for more resources.
~Next Level Credit~
Dean Next Level Credit,
My wife owe $14K debt on a BofA credit card and was handed over to Midland Credit Management. When I check my wife experian credit report it show that the last payment for BofA was made in 2/2007 and was transfer/sold. I believe this is the same account that was transfer/sold to Midland because the amount are very close but with a different account number. We live in California when this happen and move about 3 years ago to Texas. On her Experian credit report it say that this account will be remove on Jan 2014. Can I assume that Jan 2011 would be the end of my SoL? If this is not the case, is it better to send a debt validation to Midland or should we wait until the account is out of the SoL to validate the debt? Thank you very much.
Andy
Andy,
Thanks for your comment. The account is removed FROM the report in 7 years. 2007 + 7 = 2014.
Is Midland contacting you? This is not clear. If they are, you need to write a letter (see our tab on our site for VOD letter to use with instructions). The SOL starts WHEN your last payment was made to BOA. It is not clear what you are trying to do or need to do.
For more advice regarding Midland and what to do next, you can sign in for a 15 min free analysis or one hour session on our ABOUT US page.
~Next Level Credit~
I have a client that is trying to sell their home. We have been delayed however because there is a signed judgement from 10/25/2007 which shows that LVNV Funding, LLC is an Assignee of Citibank and entitled to collect on a debt of $1998.67. We cannot get in touch with anyone to give us information on how this debt can be paid and a release signed. Without the release, clear title to the property cannot be given and the lender for the buyer will not allow us to close without this being released. How can we find out who to make the payment to when the name Mann Bracken is inserted as “Attorney for the Plaintiff” and this company is no longer operating? We need some answers very soon or we will lose the buyer. Thank you for any insight and help you can give.
Jean,
Thanks for your comment. You can go to the judge to get the judgment dismissed most likely. That may take a month or so depending on the court.
If you have any more questions and need more direction regarding Mann Bracken, please go to our ABOUT US page and sign in for a one hour session.
Getting this judgment dismissed should work due to the fact that MB is closed.
~Next Level Credit~
Next Level Credit,
I stopped paying on a Citibank account in October 2007. Due to a late payment in May 2007, Citibank had begun charging three different interest rates – exploding the balance to an unmanageable state in matter of a couple of months. I tried to settle with Citibank through a debt resolution company to no avail!!! Citibank wanted a lump sum – period!!! By the way, I am a TEXAS resident and SOL runs out on this account in October 2011.
In Jan 2010, Asset Acceptance started calling. I told them NOT to contact me via phone again! They stopped calling. AND I have not received any documentation from AA regarding this collection attempt.
The calls have started again – February 2011. I still have NOT received any documentation in the mail regarding the account they are attempting to collect.
I pulled my credit report and the report indicates a new account was opened by Asset Acceptance December 2009 BUT the account is listed in the CLOSED section of my credit report and it has a note indicating ‘consumer disputes this account information, collection account’. The original creditor is listed as CITIBANK and ‘Date of first Delinquency – 12/2007. Balance according to AA account – $12,991!!! Balance at the time of last payment to CITIBANK was $6,379.47. OVER DOUBLE THE ORIGINAL AMOUNT!! Is there absolutely no laws preventing this kind of blatant theft and attempt to collect an inflated, bogus balance??!!!
I filed a complaint with the FTC. Who knows if it will do any good. I suspect I haven’t received any documentation because they don’t have my address. If I every receive a letter from them, I will hire a lawyer and sue these jerks!
I fell prey to Mann Brackens’ crap and ended up with a judgement! I had to scramble and borrow money from my mother who can’t retire because she can’t live off of her Social Security income to prevent a freeze on my bank account! Absolute creeps, scum of the earth! I’m so glad they are out of business. Let’s put AA out of business, as well!
Cyndie
Cyndie,
Thanks for your comment. No there are no laws yet. Filing a complaint is great.
If you get a letter from Asset, contact us. Sure you can sue Asset and it takes time. But you still have to play the game. Unfortunately.
You can get the judgment dismissed now and get MB off your report now that they are out of business.
~Next Level Credit~
I recently received a notice from Midland Credit Management that I was being sued. I sent a Validation of Debt letter to them and got a reply yesterday. The original account was CitiBank. They sold the account to LVNV Funding March of 2010. LVNV sold it to MCM in March of 2011. However, the VOD that I received from MCM shows they bought the debt directly from CitiBank. The letter also has several blacked out spots with the word “redacted” filling in the blanks.
For example:
“For value received and subject to the terms and conditions of the Purchase and Sale Agreement dated *****REDACTED********* between Buyer and the Bank, the Bank does hereby transfer, sell, etc to Buyer and to Buyer’s successors and assigns. ”
I asked for validation of the debt and they sent me a letter. I was hoping they wouldn’t and that would be the end of it so what do I do now?
Angie (we have spoken on the phone)
Thanks for your comment. You were served a summons.
You did file an Answer and next you should have a hearing. Let us know about your win!
~Next Level Credit~
I was served 2 summons by Fulton Friedman and Gullace one in May 2011 and June 2011. Two different creditors suing me. I responded to both as not guilty. I had going a debt settlement company 09/09. However, these cc companies did not want to settle, finally the 2nd (served in June) accepted a payment plan. I have not heard of a court date of the 1st summons served in May 2011. How long would it take for a court date.
I currently have an account open with HSBC (Best buy account). MCM is calling to collect a balance of $1,662 when my outstanding balance is less than $900 (with HSBC). However, the account #’s don’t match. My question is, is HSBC just as much responsible for the debt? Are we dealing with 2 separate accounts? Is it worth while to contact HSBC or will they be just as clueless as I?