Before any of you start to rag on me, I just want some advice, and then I'm gonna research a little. I have a Discover Charge-off that has been sold to Midland Credit Management. The SOL is about to run out next month, and I intend to send a validation letter to MCM regarding this debt. The only problem is that the last letter that I received from them is dated July 5, 2000 and I don't know if they still own the debt. I guess my questions are: 1) Do I send MCM the validation letter and dispute the entry at the same time to the CRA's? 2) Do I send MCM the validation letter and wait until they can't verify to dispute with the CRA's? 3) Do I not send them a validation letter and just send them a C&D letter stating that the SOL has expired and I'm not paying? Thank you in advance Erica I almost forgot, this was deleted once before (last year) because it is a duplicate of the Discover tradeline. It was reinserted this year and I never received notification that it was going to/has reappear(ed). Is this grounds enough to have it deleted anyways?
Re: Another Validation Questio Erica, might wait the month for the SOL to expire before doing anything,especially if they haven't contacted you recently,then proceed. vj
Re: Another Validation Questio Right now it is only being reported twice. The original creditor, Discover, and the reinserted CA, MCM. So, they have violated the FCRA. Do I have any recourse? Thanks for the reply, LK. Erica
Re: Another Validation Questio vj, I am going to wait to do anything. I need to have time to research the validation process and who actually owns the debt. Thanks for the reply, Erica
LizardKing Do you happen to know what section of the FCRA the 15 day rule is in? I would like to read that and see exactly what it says. Thanks Erica
Re: LizardKing "The only exception is for student loans." I have at least three that are being reported twice. Oh well, Erica
I'd chose #2 if I were you. That gives you the best way to fight so long as you don't send them a bunch of sophistry and folderol, much less trip your hand about the SOL. Let them figure that out. If your validation letter is sound and don't sound like Senator Phineas Foghorn wrote it, gets right on point, stays on point and doesn't make them think they might become the victims of a World War II nueclear attack, you should be just fine. Make only one demand in the letter. Let them know exactly what you want which is validation of the debt, You will want to spell out the exact type of validation you want and under what conditions you want it. Then specify the time limit in which they must comply and what is likely to happen if they don't comply. Don't threaten to sue them. They will probably just tell you to sue away to your hearts content and then what are you going to do for an encore, brush your gums to the tune of "Dixie"? Next you should inform them that they would be well advised not to discuss this matter with any 3rd party without having provided you the proof you demanded. Sign off and fire it off. Anything else you put in there is just so much garbaage and will be most likely to cause you more grief than you ever imagined possible. You don't want any answer out of them anyway, do you? I didn't think so. You already know the answers, so the thrust of the whole thing is to trick them into doing something wrong. Then go in and nail them for it. That's the only purpose for the validation letters if you don't have a better purpose in mind. A better purpose would be to make them prove the validity of a debt you already have proof in hand that it is somehow wrong. Absent such proof, your only hope is going to be to trick them into doing something wrong, then go after them for it. Make good common sense? If it don't make sense, then for heavens sakes, don't do it.
Info you requested. http://www.ftc.gov/os/statutes/fcra.htm Furthermore, you need to scroll down to 15 U.S.C. 1681 (i) and study the entire section on re-investigations. Bill Bauer
