It's Mine

Discussion in 'Credit Talk' started by Buck, Sep 22, 2003.

  1. Buck

    Buck Well-Known Member

    OK, quick question.
    I've been reading these boards for awhile now, and the only discussion I have found on this kind of spiraled into some big philosophical discussion about paying one's debts. I just need a simple answer.
    I received a letter from a CA for a small amount (under $50) for a debt I KNOW is mine (I have the bill from the OC). Now, I want to take care of this and just pay it, but I don't want a paid collection on my credit reports. Had I remembered the bill from the original OC, I would have just paid it then, but it slipped through the cracks. Validation doesn't seem like the way to go here, because I know it's mine. So, how do I pay this without screwing up my CR? I don't know if it's on there now, I haven't had a chance to look at my CR (just got the bill today).

    My thinking is some type of settlement letter offering to pay the amount if they promise not to report or to delete the TL if they have? I'd have them sign it and return it. What do you think?
     
  2. Thee One

    Thee One Well-Known Member

    You have two options as I see it.

    1)Validate and if they can't validate it comes off your CR and you you don't have to pay.

    2)Settlement letter admitting no liability for the account but offering to pay $XX.XX for termination of said debt and deletion from your CR.

    The thing with Validation is, depending on the CA, they may screw up and trample your rights and you could then sue them and make money off the entire thing.
     
  3. Hedwig

    Hedwig Well-Known Member

    You should send a validation letter, even if you know it's yours. YOU know it, but THEY have to PROVE it. What you hope is that they don't have the validation, and they'll have to remove it from your reports. If they send PROPER validation, then you take it from there.

    Also, how old is the debt and what is the SOL (Statute of Limitations) in your state?
     
  4. lbrown59

    lbrown59 Well-Known Member

    1*. Validation doesn't seem like the way to go here, because I know it's mine.
    2*I don't know if it's on there now, I haven't had a chance to look at my CR (just got the bill today).
    3*I've been reading these boards for awhile now, and the only discussion I have found on this kind of spiraled into some big philosophical discussion about paying one's debts
    Buck
    ===============
    1*I don't see anything in the FDCPA that says you have the right to demand validation but only if the debt is not yours do you?
    So what! They don't know you know !
    Validation is the way to go if you want to preserve your rights and your credit.
    2*You need to VALIDATE Now to prevent them from reporting it and it makes no difference if it's yours or not.
    3*Must be the MSN and the Fool BOARDS.


    THE END ** *** ** LB 59
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  5. Buck

    Buck Well-Known Member

    The debt is less than a year old, and the SOL in my state is 5 years. It doesn't total very much money, and I wouldn't mind paying as long as it didn't screw up my CR, which I know it will (or could) if I pay a CA. Too bad they make it so difficult just to pay the things and be done with them!

    The other thread I mentioned before was on the CreditNet board, by the way. That said, I've received a lot of helpful advice here so far. My credit is in dire straits...among the worst I've seen here on the board. I'm hoping to buy a house within the next two years, so I have my work cut out for me! I'm starting out slow...I've only sent out a handful of validation letters so far to CA's who have been hounding me. Trying to pay all current bills ON TIME! Getting my 3 CRs next!
     
  6. Hedwig

    Hedwig Well-Known Member

    Sounds like you're off to a good start. Send these guys a validation letter and see what happens.
     
  7. Buck

    Buck Well-Known Member

    **If they send PROPER validation, then you take it from there.**



    As in...settlement letter?
     
  8. lbrown59

    lbrown59 Well-Known Member

     
  9. Hedwig

    Hedwig Well-Known Member

    Probably a settlement, but post here what you got first. Maybe they'll commit a violation in the meantime.
     
  10. jlynn

    jlynn Well-Known Member

    Validation is not only about proving the debt is yours, its also about proving the CA actually has the authority to collect. There are some scumbags out there. :)

    Fix your mindset, don't be apologetic for asking for what is your minimum right under the law, and go forward. If they do actually validate, then yes, a settlement would be your next step - the right way (or should I say the Creditnet way LOL).

    BTW, since its under $50 another trick people especially if it isn't on the credit report yet.

    1. Send validation to the CA now. That will stop them from putting it on your cr.

    2. Contact the OC (preferably by letter or fax), and offer them settlement, on the contingency they pull it from the CA.
     
  11. Buck

    Buck Well-Known Member

    Is it wise to offer settlement to OC while waiting for CA to validate? Isn't that basically admitting that it's mine and doing the CA's job for them?

    Also, why not just go straight to the OC in the first place with a letter saying "I'll pay you, as long as you yank the account from the CA and delete this from my CR, if it's listed"?
     
  12. jlynn

    jlynn Well-Known Member

    Re: Re: It's Mine


    No, you take the approach - I'm not sure its mine, but for $50 (or whatever the amount), its not worth the hassle so I'll pay you. Its not doing the job for the CA, they still have to get the proper paperwork from the OC.

    You could - I don't know how old your letter is. I personally like to send the validation letter just to cover my bases. Then they can't be mean and nasty and legally put a "paid" collection on my report. My last post said if it wasn't already on your cr.
     
  13. lbrown59

    lbrown59 Well-Known Member

    Also, why not just go straight to the OC in the first place with a letter saying "I'll pay you, as long as you yank the account from the CA and delete this from my CR, if it's listed"?
    Buck
    -------------------------------
    The OC can/t yank it from the CA if they sold it to the CA!
    You still need to send the CA the V. L. so as to cover your rear.



    THE END ** *** ** LB 59
    """"```--~~~~~~~~~--```'""'''
     

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