From 6 CAs and 5 unpaid COs all under SOLs, Im down to one CO/CA with a utility (SNET) that has stuck like glue after 4 rounds of disputes with the CRAs. From reading from various sources, I am about to 1-2 punch these suckas out but I want to make sure Iâ??ve got everything down to so that I can lay the appropriate paper trail and sue successfully if it comes down to it. Im just a little unclear in how one can use the to catch an OC in a violation like the debt validation act is used for a CA that can be used in court to get a deletion. Specifically, 1. Can an OC that took a charge off and got the tax benefit still collect on the amount. Isnt that like double dipping and illegal in some way. 2. If the OC has never punted the account to a CA and is actively collecting it (letters, phone), are they bound to the debt validation laws even though the collection agents are in house. 3. Where is the applicable statue or law that states that an OC is bound by the FDCPA after 180 days of charge off and they are attempting to collect on the debt. Do I just substitute the Fair Billing Act in lieu of the FDCPA to get the same effect (i.e. verify or risk a violation you asswipes) 4. Ive read of the 1099C and Im assuming its a corporate income tax form but do I request it, cite it, mention it or what. Anyone use it to any effect. I would appreciate any insight or help so I can craft the appropriate verbage and not end up wasting money on CMRR and months only to find out my paper trail is worth nada.
Yes they can collect. With a couple of adjustments by an accountant its all legal. No they aren't usually bound to the FDCPA. But, check your state's laws they might be more restrictive. There is none. I wouldn't just substitute anything, the FBCA is a completely different subject. I'm not sure what the "C" stands for, but a 1099 is a form used to report income paid by a company to you, to the IRS. Sometimes in debt collection it is used when an account is settled for less than full balance. ie you pay $300 on a $600 debt. The CA or OC reports you earned $300 that you will have to pay taxes on. You wouldn't want to ask, cite, mention or anything about a 1099.
