Beware This Tactic When Validating

Discussion in 'Credit Talk' started by SofaKing, Aug 9, 2001.

  1. SofaKing

    SofaKing Well-Known Member

    Nothing in the statutes says a collection agency MUST send validation if you request it.

    The collection agency can do one of two things:

    (1) NOT validate and cease all collection activity.

    (2) Send validation and continue collection activities.

    Here is a tactic to watch for: Some collection agencies who do NOT validate will send the debt back to the original creditor. The creditor will in turn sell the debt to another collector and it starts over again.

    The collector does not have to notify you at all if they choose to not validate and cease collection activity. All the consumer can do is watch that credit report. If they don't validate, the tradeline must come off the report.

    SK
     
  2. SofaKing

    SofaKing Well-Known Member

    "The creditor will in turn sell the debt to another collector and it starts over again."

    For clarification, the 7 year clock does not start over, only the collection activities may. Some collectors will re-age the debt and assign a new date of last activity. Watch for this! Keep your old reports as a reminder.

    SK
     

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