I have been lurking here on Credit Net for a while and really love it. I have a couple of questions that I know are gonna seem dumb to most of you but here goes anyway. Could someone explain the difference between the dispute, validation, and verification letters and in what circumstances I want to use each one and with who, collection agency or collection reporting agency? Question #2 on my credit report it shows a charged off credit card(it's mine) for cross country bank. Now I know it has been turned over or sold to a collection agency because they called me but that is not shown on my report. Now that it's charged off does that mean that ccb "sold" the account and if so can they still continue trying to collect on it and report it, or is it the new owner of the account that do that now? Anyone ever been able to deal with ccb?
Dispute as inaccurate or not mine or whatever applies to your circumstance. You can have collection agency to validate the debt by using a letter. Visit www.lawdog.com to see what laws may apply to your state regarding collection agencies. Also, you can do a search here for additional things that may help your situation.
oops....look under the bold part of your Question one and there is the answer for the first part of your question....good luck and welcome.
Thanks for helping. Ok, if I understand this then my first step should be to dispute it, say it's not mine whatever. Isn't this the same as asking them to validate the debt? Should that fail then I can ask them to explain how they determined the debt was mine?
nobody want to touch the cross country bank question? I know, I was dumb to get it but at the time I didn't know any better.
Validating is asking them to prove that it is yours. Now if you recall signing an agreement..hit the CA first with this. I finally got rid ofCCB by continually disputing it...Boy if I knew then what I now know about credit, I would have never gotten a CCB! Oh well, we live and learn.
I'm unclear on this myself. If it has been sold does the original creditor have any further right to collect? What if it's just been turned over?
Thanks Kittw1. Glad to see someone was able to do something with ccb. To be honest I am almost afraid to even mess with this account. The last thing I want is their constant calls and harrasments again.
And this would be when you use the cease and desist letter....They want money from you..so believe this very minute that you are in charge and that you have the upper hand..Definitely not those schmucks!
You should send CRRR and fax...get that call annoyance thing from your fone company and after you send your letter then start loggin times that they call. They are in violation of FDCPA and you can sue them for this and win. The fone company sends them a nice little letter stating quit it or else. Again, you have the upper hand!
When an account with an original creditor goes delinquent, they (the original creditor) keep trying to collect it for 180 days. They may assign it to an outside collection agency, or they may have their own collections department, or both (not at the same time). After the account has been delinquent for 180 continuous days, the original creditor (if it is a credit card) has to write it off. If it is not a credit card or bank they do not have to write it off, but I would think most do. Someone else might know more about this type of account. At that point (write off) the account is sold to an outside collection agency who pays pennies on the dollar for it, and then attempts to collect the delinquent amount for profit. The original creditor and any inhouse collection department fall outside the FDCPA. Outside collection agencies who do not own the debt fall under the FDCPA, as well as outside CA's who have purchased the written off debts.
Thanks you Breeze. Can you tell me after it has been sold can the original creditor keep reporting it? How about when they just assign it to an outside agency? I guess what I am asking is when the debt is sold/assigned to an outside agency what rights do the original creditors retain?
Original creditor should report it as sold/assigned, but they usually don't. The collection agency (or whoever) that currently has it is the only one who can legally report it. The CRA's will argue about that, though, and say they can all report it. You know - if you owe money, you are fair game for any illegal tactic.
ok then, my first step should be to dispute it with the collection agency. Actually I would be willing to pay a partial amount of the debt if they will take it off my report, so maybe if all else fails I can try that.
You have 2 first steps. 1) dispute ccb with the credit bureau 2)send the validation in the letter section here to the collector.
