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  1. #1
    yanni72 is offline Junior Member
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    Mar 2005
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    No response from my Validation Letter -- What should I do next?

    What is the name of your state? CA

    I sent a DV letter to an attorney representing Asset Acceptance 40 days ago. I have not heard from them. Meanwhile I contacted the original creditor and found out that the statute of limitaitons expired March 29 so the debt is time barred, as it has been over 4 years.

    What is my next step? The bad mark is still on my credit report -- should I dispute it now? Should I send Asset Acceptance a letter telling them that the debt is time barred? Does anyone have any sample letters that I can use?

    Thanks in advance for your help....
    Last edited by yanni72; 05-24-2005 at 12:35 PM.
  2. #2
    Ladynred is offline Senior Member
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    Just because its time-barred from legal action to collect does NOT mean it just comes off your credit reports. It is illegal to sue on a time-barred debt in CA. The REPORTING period per the FCRA remains the same - 7-1/2 years from the date of delinquency that immediately preceeded placement for collection.
  3. #3
    yanni72 is offline Junior Member
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    Shouldn't the ORIGINAL CREDITOR be the only entity allowed to report this to the CRA's. Since the debt is time barred and Asset Acceptance can no longer collect on this debt are they legally allowed to report it to the CRA's?

    Also -- since the attorney did not reply to my DV letter, should I send a follow-up SOL letter?
  4. #4
    Ladynred is offline Senior Member
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    Shouldn't the ORIGINAL CREDITOR be the only entity allowed to report this to the CRA's
    NO. Totally untrue. The junk debt buyer who bought your debt (ASSet) and any collection agencies who get the debt ARE allowed to report to the credit bureaus, its totally legal and there's not a thing you can do about it.

    . Since the debt is time barred and Asset Acceptance can no longer collect on this debt are they legally allowed to report it to the CRA's?
    Of course they are. Being time-barred for legal action has NOTHING to do with reporting it to the CRA's.

    If you're certain the debt is past the SOL, the send the C&D SOL letter.

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