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Discussion in 'Credit Talk' started by KHM, Nov 4, 2001.
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You can do anything you want...
Personally, I'd make sure the collection agency got it and then send a copy of the letter to the cras with the instructions to delete the account.
As has been stated in this thread you can do anything you want, however it's usually better to understand what you are doing before you unwittingly step off the deep end by following the advice of all who offer it to you at the same time. Once you understand the purpose of a tool, then you can usually understand how to use it properly and if you study it long enough you can figure out pretty easily whose advice you should follow. Estoppel is not the sharpest tool in the shed until you get to court. There is even conjecture as to it's effectiveness in the courtroom. It generally just flies over the heads of the collection agency people who haven't a scintilla of an idea of what it is and trying to fly it at a credit bureau would simply get you laughed at. LKH's estoppel is great, but don't expect to get much of an answer out of it. It's a bit like a double barreled derringer. You fire one shot at the collector and the other in the courtroom. Other than that, forget it.
Since your estoppel is more likely than not to get ignored, you have to have a lot more in your arsenel than just a validation letter, an estoppel and maybe a cease and desist. If that's all you got, then you might as well have saved your breath in the first place.
Collection agencies operate on the principle that you are nothing but a dim bulb to start off with and they are right in the majority of cases. So even if you send them validation, C&D & estoppel they will most likey just sit back and lay behind the log because they know you will run out of steam sooner or later and then while you are sitting there with your mouth full of nothing but funny words, they will latch on to you and haul you off to court and give you what they think you have coming. Those people are professionals in their field and they are not anybody's fool.
Some of them like NCO, Gulf States and many more spend millions of dollars training their staff and teaching them all the little tricks dumb consumers try to play on them in order to beat them out of their money.
What really surprises them is when I get on their case. They are not at all prepared for what is coming at them and when they find out I don't run out of steam they panic. They don't know how to handle the situation at all. And then they want to send the debt back to the creditor or sell it off to some other collection. They suddenly know they just bit into a real hot potato and it's burning the hell out of them. So they do everything they can to get rid of it. And that only compounds their problems and gets them into even more hot water. And then they find out they not only got themselves into hot water but they also got the creditor in hot water and the other collection agency they sent or sold the debt to as well.
If you are going to grab a bull by the horns, you had better be bigger and badder than he is or you are in deep doo-doo and you had better not run out of ammo.
If all you got is three little letters and two of them not worth much, then you still have an awful long ways to go before you can run with the big dogs.
i hate to scare you like that, but I'd sure rather you knew the full truth than to let some tin horn make you believe that all you need is 3 little letters and you are set for life and then you go find out the hard way that it simply isn't so.
researching estoppel letters and came across this from bill bauer. excellant reading and he makes good points. i had to bring it back to life. sorry.
1*When I send the estoppel do I then contact the CRA's via phone, mail or internet
2*Does this estoppel forbid the CA's to ever come after me, even if they find a signature?
3*Do I do it right away or wait the 15 days?
1*US Mail CRRR
3*Wait out the 15 days.
Re: Re: Been searching for 2 hours pls help
isnt there some rule somewhere about the number of cliches per post? please? sheesh! LOL
Oh, i almost forgot to post this (bbauer's post distracted me, lol)
I found a great analysis of the estopple and its uses on this thread written by Patentatty:
unfortunately, it doesnt look like estoppel does much good as an offensive weapon. I still dont really know what the general consensus is around here regarding estoppel. I know a lot depends on each unique situation. I think its effectiveness depends on whether or not your CA (or OC) has seen the letter before, how many times they've seen it (i believe the more these big CAs see letters like these, the less serious they take them) and if they understand it or not. Luck has a lot to do with it too.
Re: Re: Been searching for 2 hours pls help
I believe the more these big CAs see letters like these, the less serious they take them)
Which can work to our advantage
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