The way I look at it is.... Bankruptcy laws are set up for people who have no other choice, to give people a break, protect them from creditors. Debt validation is basically the same thing, using the law to maybe get out of debts...but primarily protect your rights. I don't think (and this is just my opinion) that morality enters into the equation. It's just using the laws available to your advantage.
For me credit repair is a way to try and wipe the slate clean for past mistakes I made in my youth. The whole process is not fair because you are punished whether you pay your debts or not. It seems to me that if you pay a collection/charge off it should give you a higher credit score. Instead it has no effect or lowers it, in my case re-ages old debts. But the main thing in my opinion is "credit repair" requires a new respect for the process. I will never again refuse to pay a debt that I owe. I will always call and make payment arrangements if I can not pay all at once, because even though there are ways to correct old mistakes it is time consuming and frustrating - better not to get into trouble in the first place. Manage your credit effectively - don't live beyond your means - keep balances to a minimum on your cards, pay you bills on time, and have a detailed budget and stick to it. If you have a problem such as lost job, etc...call your creditors and work something out - don't ever use your credit cards in place of income. These are the skills that are necessary to keep your credit clean ( I may have missed some). I don't think anyone wants to do credit repair as a way of life. I think most people are just looking for a second chance to prove themselves, at least I hope this is the case.
pulse, Did you not read anything regarding your rights? If I am saying how did they come up with 7K in debt? Its it just their own reasoning? they have to show you proof that its 7k in debt. They can't just tack on any amount they want and say ok you owe this to me. You do have rights, they paid 150 dollars for the debt according to the validation letter then go into court and say HEY this is what they paid, This is what I will pay. Next time when you send validation letters, research all the procedures and protect yourself. You set this up incorrectly from the beginning and it blew up in your face. Now its time to get in a defensive posture for the lawsuit and get your ducks in a row.
The other issue here besides validation is that there is no difference between having a paid debt and an unpaid debt on your credit report. They carry the same negative weight for 7 years. flush ================= Correct,but if they sue you and win then you have a paid or unpaid judgment for 10 years. What did you gain here?
lb59. Correct, IF they sue, but will they and is it your debt? They have to prove it and you have to prove its not.
I validated one account on which they said I owed $8000. This account was one of my few validation successes as after the second letter it came off my credit report. But I must say that many of my validation letters were simply ignored and I must admit that on some of them I dropped the ball. I know if you are persistent with the validations you will come out on top if they can't prove the debt.
Dear Sir/Ms If you could could you possibly detail step by step your process for suing the cra's as my friends & I woud like to butare unsure how to conduct a successful campaign. Thank you for your time. Mike
Pulse, Here is my story if this helps you. I was served a summons for a credit card debt. Was this debt mine? Well, I did have an account with the company listed as the OC. Was the amount they were seeking close to what I let charge off? NO! Did I receive anything in the mail prior to the serving of the summons? No. To make a long story short, I started the validation procedure after the serving of the summons and coming across this board. Did I hope the validation would get rid of the debt? Oh you bet! Well, that did not happen, but what happened was some violations and that gave me bargaining room and power. Do I have to pay something for this debt so I do not receive a judgment? Yes, but it is far less than had I not been informed. Validation is our right. I am being sued for something and I want to know how they came up with these extra charges. If they care to violate some laws in the process then great. That part worked in my favor. The debt was also not that old, well within SOL. Do I feel I should pay my debts? Yes, but I want to pay the debt, not some extranenous fees and make some shumck rich in the process. Validation is a process. You cannnot request validation and receive something that is partial and then give up. You have to dispute your credit reports, keep records and then bargain. Sometimes it works where it negates your debt, but you have to be prepared that if they come up with proof, that you can pay something for the deletion. Nothing in life is free!
