I have several charge-offs and collections which will fall off in 15 months. I tried disputed with CRA and all came back as verified. I'm not sure at this point , wheather I need to send dispute letter or validation letter. What is the difference ? Can Someone Please compare these two ?
CA's are required to "validate" which is to demonstrate proof that you owe debt, they are legally authorized to collect it and how they calculated the amount owed. CA's are bound by the FDCPA. OC's do not have to show such proof, they must however report accurate and complete information as a furnisher under the FCRA. Send CA's validation letters and scrutinize the reporting on OC for errors. If the OC is reporting in error, send a dispute letter. After 30 days on either, dispute with CRA's. Hope this helps.
