Hi guys! I have been reading for about a week now and I'm a little confused about the validation process. I received a letter from Academy collections last week about an account that I thought that I settled for less back in the spring of 06'. The amount is $531.00 and it started out at $1500. and some change. First...I guess they sold it after I paid for the supposed settlement? Can they do that? Second, I send the dvletter to the CA right, not the CRA? Thanks for your help, ya'll are so smart and helpful!!!! I have about 3-4 that I have been avoiding for a couple of yrs and I am going to get things right, but I don't want to pay for somehting that is not mine either. I also have an account that is on my credit report twice, listed with 2 seperate collection agencies. Anyone ever have that happen to them? With everything I have read on here it doesn't surprise me at all! Thans again for your help! HSHH
First, write a "Debt Validation Request" letter to Academy Collections; use the sample letters here on the forum. A "DV" letter goes to collection agencies only. Specify you dispute this collection account due to be settled. When, and IF, you receive a response, post their response so we can help with the next step. Secondly, do you have any documentation regarding paying/settling this debt? Did the previous collection agency give you a settlement letter? Do you have any receipts, canceled checks, etc. You will need to gather your evidence to prepare handling this. You may try to contact the previous agency, and request something in writing that the account was settled/paid. They are required to provide this. How is this account being reported on your credit reports? You shouldn't have to pay twice, but this is why it is critical to retain documentation (and insist upon it in future dealings). As for the two accounts, there should be only one. If a collection agency sells or transfers an account, they are supposed to withdraw their tradeline from your credit report. I assume you have pulled your latest credit reports, if not, then pull them ASAP to assess what is being reported. Welcome to the forum, and there is a long road ahead, but you are on the right road!
Houston, we may have a problem here. If you failed to "get it in writing" from the previous CA that the matter was settled, then it wasn't settled. The fact that this CA was paid years ago does not give you much leverage in getting a Satisfaction Piece from them now. The time to get all this in writing is before you pay, not after. Nevertheless, you should demand proper Validation from this new CA. Chances are they have nothing. Do this immediately so that you preserve your FDCPA rights.
Thanks both of you for you answers! one more question...someone told me to hand-write this validation letter instead of type it? Do you agree? Thanks!
I do have my bank statement from when my account was debited for the amount that I paid them (I was paying $200 a month and then when I received my taxes I paid a lump sum)...but I'm sure that won't be enough as that could just be a partial payment. Very ignorant on my part to trust them to settle the account. This is the account that is on my report twice. One is revolving and showing Charged off and one is open and showing in collections? The revolving has the balance as $1451 having Dillard's as the account holder and the other one is showing open collection with Asset Acceptance (the collection Co that sold it to Acadamy) with a balance of $531.00.
First, to answer your previous post, I would type the letter, handwritten holds no advantage over typed. Next, to Asset Acceptance. Asset Acceptance should be able to provide documentation regarding the account. If it was settled, there should be a record. I would call and inquire about what happened with the account with Asset Acceptance. As for the reporting: Dillard's should be showing a $0 balance, if they have charged it off, and sent to collections. Asset Acceptance should NOT be showing a balance, or the tradeline if they have sold it off to another collection agency. I would dispute both these tradelines with the credit reporting agencies, if you are unsure of how to do this, post again for help.
