I received the following letter from Asset Acceptance LLC (seems they were finally able to track me down as it says "unable to locate" on CR) in regards to my Bankfirst account: RE: Various Issuers Bankfirst CLIENT ACCT#: XXXXXXXXXX BALANCE DUE: $587.42 Dear DPERRY: In an effort to help you resolve your past due balance, we are offering the following suitable arrangements: (Check one and return). 1. Payment in full enclosed. 2. I wish to make payment arrangements. Please contact me at (PH#)___ between (time)__and__. Should you have any questions or wish to discuss this matter in more detail, simply call this toll free number XXXXXXX. This is an attempt to collect a debt and any information obtained will be used for that purpose. Sincerely, etc, etc. The Bankfirst account is from 1999 and on my CR, Asset Acceptance is an open account from 2003. Which letter should I send them? A validation/cease and desist letter? Also, I screwed up and did not contact a CA in the required 30 days, which letter is best to send to them? Thanks!
First off let me assure you tht the 30 days that is mentioned in the CA's letters are not actually having you give up anything or admit to anything. Basically what it says is that if you don't respond within 30 days, they can then assume until you tell them otherwise, that it is your debt and so can legally continue collection activities. You can send them a validation 31 days later, or 1031 days later and still legally require them to validate, and at that point inform them that you feel that it is not your debt. Also the date of last activity (from the original creditor) is valid as the SOL and duration of it staying on your credit report. The seven year clock started in 1999 for both BankFirst and Assett. Before you figure out what type of letter to send out to them you should make sure that the debt is out of SOL for it to be legally enforceable. If the debt was last paid on in late 1999 it's at 4 1/2 years old or so right now so it's past SOL in many / most states. SOL is a little tricky if you have moved since you originally started the account, the credit card company can choose to use the SOL from the state which has the longer timeframe. The question of which letter path to choose depends on what you want to happen. Do you want the account to be deleted off of your credit report, or do you just not want to deal with these CA people anymore? The C&D is best saved for annoying CA's that send countless letters and call you trying to collect or for accounts that are past the 7 year reporting window. Since this account will be reported for at least the next 2 years it probably will fall into the section of you wanting to get it deleted. Send a validation letter, then as soon as you get the green card back letting you know that they've recieved your validation, dispute it with all three of the CRA's. To be safe and sure, I would consider ordering separate credit reports from all three just before you send this in, giving you the ability to dispute something as thou you just discovered it on the credit report you just purchased. After you've done that, waith 30 days or so and then let us know what type of response you recieved both from Assett and from the CRA's. Good luck. ChrisB
Thanks Chris. Just use one of the validation letters found in the sample letters? This is just the beginning as I have lots of repairing to do! Should I get my old addresses deleted first before sending the letter to Asset Acceptance? Luckily, I just ordered all of my CR's late last week and I have disputed my old addresses on TU thus far. Thanks so much for your help!
Re: Re: Question re: letter from CA Should I get my old addresses deleted first before sending the letter to Asset Acceptance? YES
Re: Re: Question re: letter from CA "First off let me assure you tht the 30 days that is mentioned in the CA's letters are not actually having you give up anything or admit to anything" -Not accurate ! -IF you DO NOT REQUEST VALIDATION IN THE 30 DAYS, THE COLLECTION AGENCY DOES NOT HAVE TO CEASE COLLECTION EFFORTS, OR EVEN RESPOND TO THE CONSUMER. THEY ARE ONLY REQUIRED TO REPORT THE DEBT AS DISPUTED IF THE CONTINUE TO REPORT. SEE THE VALIDATION LINK BELOW. "Basically what it says is that if you don't respond within 30 days, they can then assume until you tell them otherwise, that it is your debt and so can legally continue collection activities. You can send them a validation 31 days later, or 1031 days later and still legally require them to validate, and at that point inform them that you feel that it is not your debt." -Not accurate! -READ ABOVE "Also the date of last activity (from the original creditor) is valid as the SOL and duration of it staying on your credit report. " -Not accurate! -DATE OF LAST ACTIVITY IS IRRELEVENT! It is a "scam" by the reporting agency. "The seven year clock started in 1999 for both BankFirst and Assett." -The 7 year clock for the reporting period begins 180 days after the ORIGINAL DATE OF DELINQUENCY, which IS NOT THE SAME AS DATE OF LAST ACTIVITY. "Before you figure out what type of letter to send out to them you should make sure that the debt is out of SOL for it to be legally enforceable. If the debt was last paid on in late 1999 it's at 4 1/2 years old or so right now so it's past SOL in many / most states. SOL is a little tricky if you have moved since you originally started the account, the credit card company can choose to use the SOL from the state which has the longer timeframe." -The protections of the FDCPA/FCRA are available REGARDLESS OF THE LIABILITY OF THE DEBT. THEY PROTECT THE CONSUMER AGAINST THE BEHAVIOR OF THE COLLECTION AGENCIES. -A consume can sue a collection agency and win for violations of the acts EVEN IF THE CONSUMER LEGITIMATELY OWES THE DEBT. "To be safe and sure, I would consider ordering separate credit reports from all three just before you send this in, giving you the ability to dispute something as thou you just discovered it on the credit report you just purchased." -GREAT ADVICE. 3rd party providers (ie privacy guard etc) are now covered under the FCRA and this may cause all kinds of confusion untill the laws are "settled" and cases on this issue are decided.
Re: Re: Question re: letter from CA How can the CRA meet its legal obligations to remove negative TLs after 7 years from the date of first delinquency, and provide the complete copy of all information in their file to the consumer, without: 1) having received the date of first delinquency from the OC or CA. AND 2) Providing this date to the consumer in a requested report?
