Ok, let a secured card go delinquent (at the time, stopped paying everything) in 1999 with $600+. Had $500 secured savings account. 5 years later CR is showing Cap1 balance of 1591. How do I get them to validate the debt nd secured funds without admitting to the debt?
as i said in other posts you can not send a OC such as cap 1 a validation letter they will ignore it OC do not validate. However you can send a written notice request for verification of alledged debt to their regulatory response team at 15000 capital one drive Richmond, Va 23238 or e-mail at regulatoryresponseteam@capitalone.com
to cap 1 I am send this letter to you to dispute an acct that Cap 1 has listed on my credit report. I have no knowlegde of this alldged acct please send me written verification for the above referenced acct including a copy of the credit application that bears the acct holders signature and all billing statements that show proof of the amount you are attempting to collect within 30 days from the date of this letter pursant to the FCRA. if cap 1 can not produce a signed app they will give you a story stating it was done over the phone ch ching ! no proof = no debt copies of statement can be falsified and your personal info ss# add, can be obtained through various sources so if they do not have proof report a complaint with the richmond Federal Reserve to get a deletion !
main goal here I thought for most people is deletion . if a debt is past the SOL and you morally decide to pay it most creditors or CA are willing to settle for less it gives consumers an edge for barging power to achieve deletion. be careful some agencies will take your money and only update your report as a paid acct. request a deletion letter first before you agree to pay that way you know you have an agreement then if they dont adhere to their promise you can sue for breach of contract ! if they say they cant give you a letter its because they do not intent to remove their TL people will say anything to get your money.
ok, I can't wait two more years because I have to move this year. I'll send the letter to that regulatory address. Thanks a lot hope it works.
