Hi there. I need help dealing with a Providian charge-off that was sold to Asset Acceptance. Providian continues to report the charge-off with a past due balance ($1100) with no notation of the account being sold. I didn't even know that Asset had it until it showed up on my credit reports last week, as they have sent me NOTHING. However, Asset has already added "consumer disputes account information" on my credit reports. (They must be automatically doing that now, since they were getting caught for NOT doing it so much.) Where do I go from here? Can Providian still sue me? Can Asset sue me? I plan to dispute with the CRAs and also ask Asset for validation. Is Asset obligated to send me a copy of something from Providian to prove to me that it has actually been SOLD if I ask for it? Please help me, guys. I really need to know how to approach this, just in case it gets ugly... which I am sure it will since I am dealing with ASSet.
1. First you said it was sold, then you stated you needed proof. Are you not sure if it was sold? If it hasn't been sold, they can report it as a CO with a balance. If it has been sold, they have to record it as a -0- balance sold or transferred. 2. If Providian still owns it, they can still sue you. If Asset owns it they can, and possibly can as assignee as well. 3. Request validation from Asset as in the sample letters. If I recall part of it asks for proof of their right to collect.
I disputed as not mine withthe CRA regarding Asset and got an easy deletion. On the other one I requested verification from Asset and they noted it in dispute and sent me a printout.
Yes... it was sold, according to Providian. My question was - is Asset required to send me proof that they purchased the debt if I ask for it. That is what I want to know - if I ask for it, are they REQUIRED to send it to me, just as they are REQUIRED to send me appropriate validation. That was my question.
just as they are REQUIRED to send me appropriate validation. That was my question. girliegirl =============== They don't have to provide validation appropriate or otherwise. But they must stop collection efforts if they don't validate The END ************************* LB 59
