I sent Capital One a verifacation letter on an account from 1999 .They did not respond to me but they did do an update on TU credit reports they didnt change anything just update . Do I send a letter to TU telling them that Capital did not validate with me ? PS Capital One bought the account from Household . Thank you, jobtimer
If you've only sent one validation so far, I suggest you hold off on contacting TU, and first sent the estoppel letter. You need to build a paper trail showing you made every attempt to contact them and they simply ignored you. Be sure you're sending each letter CRRR as well. One option you have is to place the account in dispute after you receive the green card back (showing that they signed for your letter). That way, if they verify during the validation process, they've violated the FDCPA. Also, be sure to check and see if C1 is placing the account as "consumer disputes", if not, that's a violation of the FCRA. Bottom line is, you want to catch them in as many violations as possible, that way they'll simply want to go away (and delete) rather than fight you, and risk having you win a judgement against them, rather than the other way around.
Thank you mindcrime2, I was just about to send TU a letter about Capital One . I'll do what you suggested. Does estoppel letters work on OC's too? Thank you again for helping me ) jobtimer
No. Validation and estoppel are for collection agencies who are subject to FDCPA. OC's are not subject to FDCPA. You can try it, in come cases, but if it doesn't work there's not much you can do about it.
This is correct. However, they do fall under the FCRA, and you can still catch them in violations. jobtimer - you said that Cap 1 bought the acct from Household. Was this a charged off acct that they bought?
Whoa. Wait a minute. You don't know? Did you have an acct with Household? If so, what happened? Why was it sold to Cap 1?
I'm sure it was charged off . It just doesnt say it on my credit report. No payments were ever made on the account , it was a Preappoved Levitz account my mother interceptied( long story) Levitz account finaced by GeCap in 1997 then transfered/sold to Household then transfered/sold to Captial One. I didnt think of this until now,GeCap has nothing to do with Capital One. I thought GeCap was Capital One all this time , this changes things for the better. Thanx LKH I went looking at my old credit reports when you asked if it was charged off Thank you, Jobtimer
Bingo !! BOCA RATON, Fla.--Levitz Furniture Corp. reported it has entered agreement with Household Bank N.A., under which Household Bank will establish and maintain accounts under Levitz's private-label revolving credit card program. Simultaneously, Household Bank and GE Capital entered into agreement under which Household Bank purchased substantially all of the Levitz accounts formerly owned and administered by GE Capital. Michael Bozic, chairman and chief executive of Levitz Furniture, said in a statement: "Our new business partnership with Household Bank... is an important step in positioning Levitz to improve profitability and to achieve our turnaround plan." "Our signing of Levitz offers us significant growth and income opportunities. We look forward to an excellent working relationship over the next five years," said Chuck Colip of Household Bank
The reason I asked if it was sold and charged off is because, now that Cap 1 has purchased a charged off acct, I think they may now be considered a 3rd party collector and thus, is liable under the FDCPA and the FCRA. Souns good eh?
My thoughts exactly. I know when we all think of C1 we think OC, however since it's an account that originated elsewhere and was sold/transferred to C1, they cannot be considerd the OC, rather they themselves are the collection agency, and would (as you said) be subject to the FDCPA.
