• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Asset won't validate!!!

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

K

KC1114

Guest
What is the name of your state?What is the name of your state? CA
I sent Asset Acceptance a certified letter asking for validation. They sent back an account statement with just my name, acct #, the balance and date of last transation. What do I do now? Is there another letter I should send?
 


cmorris

Member
KC1114 said:
What is the name of your state?What is the name of your state? CA
I sent Asset Acceptance a certified letter asking for validation. They sent back an account statement with just my name, acct #, the balance and date of last transation. What do I do now? Is there another letter I should send?
Send them another letter, CMRRR, stating that is NOT proper validation. Go to creditboards.com and search for the above terms. Refer to the FDCPA as needed and FTC opinion letters (link can be found at creditboards). There is also case law describing proper validation. Be sure to tell them this is still disputed and to report to all credit reporting agencies as such.

Keep on them!
 

racer72

Senior Member
I have seen exactly what you received hold up in court as a valid form of proof of debt. What exactly do you want?
 

JETX

Senior Member
KC1114 said:
I sent Asset Acceptance a certified letter asking for validation.
This is not uncommon. What EXACTLY did you ask them?? Did you simply say 'validate'???
If so, they are relying on your ignorance of what is a PROPER validation reply.

I suggest you look at the information at: http://www.creditinfocenter.com/rebuild/debt_validation.shtml
From that site:
"they must show proof positive that you owe them this debt. It's not enough to send you a computer-generated printout of the debt. There is an opinion letter from the FTC to back this up:
http://www.ftc.gov/os/statutes/fdcpa/letters/wollman.htm

Nor can they ask you to pay for digging up records of your debt:
http://www.ftc.gov/os/statutes/fdcpa/letters/krisor2.htm

So, if a creditor can't verify a debt:
* They are not allowed to collect the debt,
* They are not allowed to contact you about the debt, and
* They are also not allowed to report it under the Fair Credit Reporting Act (FCRA). Doing so is a violation of the FCRA, and the FDCPA states that you can sue for $1,000 in damages for any violation of the Act.

The opinion letter from the FTC which clearly spells out that a collection agency CANNOT report a debt to the credit bureaus which has not been validated:
http://www.ftc.gov/os/statutes/fdcpa/letters/cass.htm
"

There is also a good validation letter at:
http://www.creditinfocenter.com/forms/sampleletter9.shtml
 
Right on...

CMorris and Jetx are absolutely correct in their advice. But...

Racer72 is also right that the garbage they sent does sometimes hold up in court...not because its the law, but because the judge or magistrate or whoever is not familiar with the law. If you do wind up in court over this, make sure that you or your lawyer takes along a copy of the FDCPA with the appropriate sections highlighted. You may have to educate the judge.
 

cmorris

Member
olgethorpe said:
CMorris and Jetx are absolutely correct in their advice. But...

Racer72 is also right that the garbage they sent does sometimes hold up in court...not because its the law, but because the judge or magistrate or whoever is not familiar with the law. If you do wind up in court over this, make sure that you or your lawyer takes along a copy of the FDCPA with the appropriate sections highlighted. You may have to educate the judge.
Good point.
 
K

KC1114

Guest
Thanks for the info. I'm still unsure...Do I send another validation letter? Or do I send a letter stating that they have not complied with the FDCPA and are in violation the the Act?
 

cmorris

Member
Send another DV letter, CMRRR, stating they did not give proper validation. They are not yet violating the FDCPA. They sent something to you about it. There are good sample letters at creditboards. In your letter, include the appropriate FDCPA sections and FTC opinion letters stating what constitutes proper validation.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top