Validation letter sent; have a ? on the response recieved

[Liquid]

147 people going and coming every 10 minutes. Good, Liquid. But I don’t want to talk to the 15-20 success stories. I want to talk to the 100s that must be drinking the kool-aid and thinking that everyone is similarly situated. They aren’t.

The fact of the matter is that, if I were similarly situated, I’d want to hear from those who made mistakes. I’d want to learn from them. I don’t want to hear from the 2% of the debtor-consumer population that dealt with the 2-3% of the debt collection industry that deals with junk debt, unless I knew I and those that were trying to collect fell into that category. It’s not only an aberration that you make the norm, it’s equally castigated in this forum as in your stomping grounds. A small bit of reading would have told you that.

I’m tired of the rubric of “junk debt buyer” that you apply to all, and the only reason that I’m tired is that it leads you to give out misinformation as if it were written on stone tablets. I personally don’t speak for FA or even this forum, but I’ve looked at other sites, I’ve taught consumer law and I collect debt. I can separate the wheat from the chaff. If I were similarly situated and given a choice, I’d want information from those who use it daily and must understand it, rather than those whose fortuitous experience has led them to believe that it’s something that is universally applicable. If I’m dealing with the same CAs that you did, for the same types of debt and all other conditions are also the same, you’re important. Otherwise, no.

I don’t wish injury or inequity to anyone who seeks help at any source. That said, there are times when I think that you and those who proselytize like you, and damn anyone who would speak differently, are the greatest asset to the ARM profession since bulk mail and predictive dialers.

You’re absolutely right; there is no definition. So are you better for implying there is and you know the secret and all should follow you? That was exactly my point, and you proved it. DC posted the statute. You posted zip except that collectors lie like rugs. Was the post wrong, altered? Then who are you? “I know enough”. And that means what? I’ve made my point. You refute it.

You must have meant the hundreds of success stories, and the hundreds of people that are there willing to help at all times? If you read anything there, you'd see all the success stories right there in the member's signatures. Many, many more than 15-20.

So if you were in a similar situation, you wouldn't want to hear from the 2% who knew their rights and were able to legally get out of that collection? I guess you'd rather follow the 98% of the clueless and just make some sort of settlement and deal with that on your reports for 7 years. It's the sheep that keep you guys in business. Baaaaa...

You said it yourself.....there IS no definition for validation. I'm not implying that there is. Why would I want there to be a definition for validation? If there was a definition, then the collectors might actually be able to validate. My goal is to not let the collectors validate! If there's no definition, then how could they possibly validate it when nobody knows what it even means?

Many debt collectors receive a DV and just toss the debt to the side because they'd rather not deal with an informed consumer. They'd rather toss it out and work on collecting from the next uninformed consumer since it only cost them a couple bucks to buy the debt in the first place. If they don't toss it to the side and they try to validate, they normally make enough violations that they end up having no choice BUT to toss the debt out or risk being sued themselves.

 

[Sappho]

Thank you Debt Guy

I've been reading this forum for a long time, and Debt guy has been posting here a real long time.
. Debt Guy gave me good advice the alst time I asked a question some months ago. In my opinion Debt guy tells it like it is, he is straightforward.

 

[TigerD]

Sappho - sorry your thread has degenerated. I looked back over your previous posts and assume that this is the same issue.

I'm going to briefly explain how the debt system / credit system works. It isn't complete, but rather just enough to tell you what you need to know.

1. A debt once created never goes away until paid. Charge off is an accounting term and means nothing in real life to anyone other than accountants.
2. Debts can be bought and sold like Chevys.
3. A $20,000 Corvette bought for $300 is still a $20,000 Corvette. And a $5,000 debt remains a $5,000 debt regardless of how much a debt buyer pays for it.
4. Credit reporting has different rules than debt collection.
5. A debt can be outside the SOL and still within credit reporting.
6. For most consumer purposes credit reporting is 7 years plus 180 days from the date of first default.
7. The original creditor (Cap One) is not subject to the FDCPA.
8. Credit reports change the way they present data a few years ago and now makes it appear that CAs have changed dates. What they are reporting is the first date the CA claimed control of the debt. So if the default date is six years ago and the new CA has a date of last year on your credit report. That doesn't mean they reported you debt as newly defaulted.
9. Many debt buyers don't respond to people sending in validation letters. It isn't worth it. There are too many people like liquid that abuse the system. It is cheaper and easier to repackage the account and sell it.
10. SOL is an affirmative defense if you are sued. It doesn't restrict the company you owe money to from taking any legal action to collect from hiring CAs to knocking on your door personally.


Your specifics:
You send a validation letter.
The CA punted and gave the account back to Cap One.
Cap One requested more information.
The info they requested can be gathered by any half brain dead collector from other sources in about 10 minutes.
You freely admit you owe them money. Yes it is an old account and yes you don't want to pay. But, as the OC, Cap One doesn't have to go away.
You might be best off negotiating a settlement and putting this behind you.

DC