I sent a letter to first resolution management requesting them to validate the debt. I ask them for copies of the original contract and to validate. They send me facsimile copies of the account from chase statements for feb 2005- July 2006. There is nothing else with it, no contract or anything. So is this enough for them to go into court or is this a bluff? The debt is from 2004 and it says it was delinquent in 2006. What should I do now? I don't see how copies of my statements are a good validation? I live in TN and the statue is 6 years. I just can't believe they can sue me for 2100 on a 300 dollar credit card. What is my next step you guys? They will settle for 1000, should I just pay it?
There's a lot going on in this post so I'll see if I can break it down... You asked for validation. They sent validation. Whether that's enough to go to court with is a different question. Are they taking you to court? Have you received a summons? Read the FDCPA. It describes what constitutes legal validation. Whether that's good or not depends (and is largely irrelevant). Believe it. That's the magic of 30% interest compounded monthly on top of late fees and overlimit fees. Are they sueing you or are they just sending you the usual threatening letters? Again, it depends on where you are in the process. What do you want to accomplish? If you want to pay it and if they are offering $1,000, see if they'll take $500. It can't hurt to ask. Or, make a fuss and see if they go away (or take you to court). It all depends on what you want to accomplish. You have a few options.
I was getting letters from them so I decided to send them validation letter to see if they would respond. They did, I just wanted to know what should I do next? If I don't pay, what's the chances it goes to court?
It's more likely to go to court if you don't pay than if you do. Beyond that, it's hard to say. Some CAs go to court on a weekly basis with a stack of complaints, others just make phone calls and send letters. For $2000 (plus costs and fees) it's probably worth it to file a suit, esp. if your state/county has a small-claims court. For $30 (more or less) and postage, they can get a judgment against you that will follow you around for 10 years or more. Or they'll just put it in the "too much trouble" pile and look for other fish to fry. You could go to your court and see if the CA has filed any (or lots of) suits and see what amount they are suing for to get a better idea of your chances.
