I'm a newbie, but I have been soaking up as much as I possibly can. However, I can't seem to get a handle on a certain procedure. Here's my situation: I have an Amex cc that has gone to a CA. I sent the CA a validation letter and haven't heard hide nor hair from them since. Which is good for them, since they haven't violated any Federal laws by reporting the account. Anyway, what guarantee is there that this silence will go on indefinitely? My guess is slim and none - furthermore, I'm guessing that this will be put on ice for a few years and then rear it's ugly head, when I apply for a mortgage or something. So, my question is: what do I do now? I have asked them to validate my debt to them, and they shut up. Do I ask them again to reply? Do I sue? How do I sue? Do I go after the OC and get the debt cleared - can I if they're using a CA? I hope I haven't missed any of the tutorials - this scenario just doesn't seem to be covered. If it has been covered, I'm sorry and please let me know where to find it!
They don't have to validate. They just must cease collection activity until they do validate. Looks like these guys actually have followed the law. When did you last pay the orginal creditor and what state are you located?
They don't have to validate. They just must cease collection activity until they do validate. Looks like these guys actually have followed the law. When did you last pay the orginal creditor and what state are you located? --------------------------- keepmine, I'm in NY. I've been disputing and asking for validation from OC since September '03. The OC hasn't replied, but they have sent the acct to collections. OC has TL in all 3 CRAs stating acct is closed, has a balance, but has never been paid late. They send statements "for my records only" and say all payments to be sent to CA. I recently asked CRAs to validate - the first to respond was equifax - and they say the account is verified with OC. Doubt that one, since OC has yet to reply to my request for validation. In fact OC sent a letter saying they didn't have my original agreement, since it was past 25 months and Federal Law only requires 25 months to hold those documents. I was wondering if I could use that letter as evidence? I'm just not sure what to do next.
The OC never does not have to validate. They are not bound by the FDCPA. Your call here but, creditors keep records a hell of a lot longer than 25 months. Many on here and other sites have demanded validation and gotten a document dump. Years and years worth of statements and a copy of the application. Don't keep begging for something you really don't want to receive. I'd suggest you do some more reading. If you don't know that OC's don't have to validate or, the ca just has to stop collecting until they validate you got no business thinking about suing anyone.
yeah well everyone answer me this! What about and OC who was bought out by another Company and now they are trying to collect an old debt, they have a collection division so are they considered now the OC or a CA subject to FDCPA violations ? Hmmm answer me that ?
If the debt was in default when the new company acquired the account, they are a 3rd party collector and subject to the FDCPA. There is an FTC opinion letter to that affect and I'm sure someone will post a link.
Re: Re: CA shut up - what do I do n =============================== keepmine Thanks for replying. The OC has no instrument bearing my signature. Furthermore, the OC will not reveal the ledger bearing the funds with which they allegedly loaned to me. Those are the facts. They just fail to respond, in hopes I'll just forget about the giant goiter that's throbbing on my CR! It seems the only way to get an OC to comply is by forcing the CRAs hand somehow. I know the OC has to stop collecting until they validate and are not bound by the FDCPA. I guess I have to take it up with the CRAs - if they report a disputed TL without marking it as such, they are in violation of FCRA - is that right? There are too many bloody acronyms up in here! Here's an interesting development - I received my EQ CR and they say they removed two CAs from the TL. None of the reports for the past month have had a TL with a CA on them. What is the world does that mean! Did they take it off before it was posted? I didn't ask them to investigate that - I asked them to validate TLs from the OCs. I this an invisible TL? That would be highly illegal, no? Can anyone shed light on this development?
Re: Re: Re: CA shut up - what do I do n CA's must stop collection efforts until they validate the debt after you request same. The rules do not apply to the Original Creditor You do not validate TL's with the CRA, you validate with the CA...the CRA can only verify the information they have on a TL!
Re: Re: Re: Re: CA shut up - what d ------------ Verify and validate. I live in a pluraristic society and it's refreshing to see that words DO have meaning here! In spite of the fact that I am remiss on definitions, I understand who does what and who doesn't do what. So my two options are - 1) CA doesn't validate, and tries to sell the account to another CA or back to OC. OR 2)CA doesn't validate and tries to collect anyway, and that's where I start going ballistic? I guess the CA could validate - but that would involve conspiracy and forgery, so, I won't go there. I'm waiting for the next step of CA. Well, what do I do with the OC? If I don't have an account with OC how can they say I do on my CR?
Re: Re: Re: Re: CA shut up - what d Although the original signed contract may be part of validation, the signed CC slips from using the card could also be used as evidence of an existing contract.
Re: Re: Re: Re: CA shut up - what d Where is the ORIGINAL AGREEMENT? I ask and ask and I don't receive. The origin of this account is what counts. Not forged pieces of register slips. Also, where did the OC get the money from? I have asked repeatedly for the ledger. If the money was taken from assets, then it shouldn't be too difficult to show where the money was moved from. The problem is, there is no ledger, and there is no original agreement. There is only faith. Faith that the money CCCs have, is actually theirs and they take a risk on you, when they do you the good service of letting you partake of their precious generosity. Meanwhile they take your name and create the money out of thin air - without any risk. Then charge you interest and those using the service for their business a fee. They take no risk, yet collect. It's called forgery. Under the Federal Reserve Act it's called the US monetary system. Sounds nutty doesn't it? Do yourself a favor and do some research on the Federal Reserve Act. Look into it before you label it conspiratorial. Truth is always stranger than fiction.
Re: Re: Re: Re: Re: CA shut up - what d Yes, this line of thinking is similar to those who would believe that they can evade taxes by becoming a "minister"
Re: Re: Re: Re: Re: CA shut up - what d OC is not covered by FDCPA. While technically correct, it may be misleading to a newer member. An OC is not entitled to "ignore" your demand for validation. (They just don't call it "validation"). .
Re: Re: Re: Re: Re: Re: CA shut up - what d pd11604, It's not about a "loophole" in a functioning, healthy system. It's about a corrupt system, that has been so from its inception. The Federal Reserve Bank creates money out of thin air. It's called fiat capital. It's is not backed by anything. The Fed prints the money and sells it to the US Government with interest. Our national debt has much to do with the interest owed to the Fed. BTW the Fed is NOT A GOVERNMENT ENTITIY - IT IS A PRIVATE CORPORATION. The CCCs operate the same way as the Fed. This is why there are arbitration clauses on credit cards - they want to make sure that if they go to court, there is no chance for a public trial. It doesn't take much to look this stuff up and find out what I'm talking about. If you have information to the contrary I would like to see it.
Not commenting on anything else currently in the thread. I assume, f*e*d by the above from your original post that the CA account isn't on your credit report right now. You're lucky, some CA's will ding your report before they even bother sending you the first collection letter. Now that you've demanded validation, and they can't come up with it, and from the other postings, the original creditor doesn't have records to give the CA's I say dont' worry, be happy. This particular CA would owe you a quick $1,000 if they later decided to put it on your credit report. More likely than not, after you sent a validation request, they contacted the OC and found out no such proof exists, then more likely than not returned this account to the OC. The OC can (unfortunatly) arbitrairily send this out to other CA's even thou they know there is no proof. But luck is on your side, because every time you get a new letter from a new CA you just send them a validate and watch them go away. It should never get to your report as long as you demand validation for each CA, and it shouldn't take long for the OC to stop sending it out. The OC's tradeline is another issue and getting that removed before the 7 year reporting limit is often difficult. Good luck. Chris B
