IC Systems and collections question

Discussion in 'Credit Talk' started by tboy74, Sep 28, 2003.

  1. tboy74

    tboy74 Well-Known Member

    IC Systems (a royal pain in the @ss) is trying to collect on a debt that has been paid and has it reported on my credit reports. TU dropped it. Experian has not. I don't know about about Equifax yet.

    If a CA, such as IC, is collecting, shouldn't THEY be collecting the money? They claim a payment should be mailed to the OC (even though i was simply asking them for a mailing address for correspondence). Does this mean they don't have the legal rights to collect the debt? Also, the OC tried tellling me ANOTHER CA should receive the payment (and when I asked what happened to IC SYSTEMS, they said, oh well they contract out to these people). Is this all legal?

  2. jam237

    jam237 Well-Known Member

    Then I would send the validation letter to both IC Systems, and the second CA whom the OC told you is now handling it, and demand that the validation come directly from the OC.

    Maybe IC Systems doesn't even know that this account has been recalled yet... ;)

    Some CAs have the payments mailed to the OC at a specific address setup for that specific CA. Then the OC pays the CA from the payment that you sent. With assigned accounts, it depends on how the assignemnt contract between the OC and CA is worded.

    On a sold account, the OC should be out of the picture completely, unless the OC buys back (or is forced to buy back the account based on any of the provisions of the sale contract).
  3. tboy74

    tboy74 Well-Known Member

    Thanks for the advice! Does the OC have to validate too? and what is the difference between verification and validation?

    What does one do after confirmation of a receipt of validation letter is received?

  4. jam237

    jam237 Well-Known Member

    For confirmation, mail certified mail, return receipt, the green card is your evidence that they received the validation request.

    The OC doesn't have to validate, however, by stating that you expect the CA to contact the OC to obtain the validation, if IC Systems really has been unassigned from the account, then this would be when they would be notified. ;)

    If the OC provides both CAs with the validation response, then you have documentation as well that the OC is attempting to collect double... :)

    Validation is providing documentation to prove that a debt is yours, and VALID.

    Verification is simply the CRA asking the Data Furnisher (OC or CA) to double check the data that they have already reported to the CRA. The FTC considers answering a verification as collection activity, so the CA can not answer a verification request until after they have responded to the validation request.
  5. lbrown59

    lbrown59 Well-Known Member

    Re: Re: IC Systems and collections question

    New Member Must Reads.---------------------------



    Sample letters

    WhyChats statute of limitations


    statute of limitations http://www.edebtnetwork.com/content/collection_laws.asp
  6. tboy74

    tboy74 Well-Known Member

    Re: Re: IC Systems and collections question

    Guess what .... I got a letter from IC SYSTEMS dated same day i sent validation letter telling me they were closing the account and withdrawing. they said they contacted the CRAs and told them to remove all references to it!

    Now i have another question. Experian claimed it validated this debt. Obviously it couldn't have, especially since IC ran from it the very day they got my validation letter. Should i keep pursuing Experian? i sent them a 15 day letter requesting how they verified this information? if they can't verify, can i sue?

  7. jam237

    jam237 Well-Known Member

    Re: Re: IC Systems and collections question

    Send them a copy of the deletion letter; and demand an immediate deletion.

    Chances are its already been removed, my personal experience with Experian is usually they had the entry deleted before I received the deletion letter, which really is annoying when you wanted the hard-copy stating that it was deleted... :)

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