Every couple of years I am contacted by a CA regarding an old credit card debt, and when I ask for validation I never hear from them again until the next CA takes over the file. However, the other day I received back a one-page statement from the current CA that was issued by the OC (credit card company) that shows the outstanding balance as of 9/98. It is definitely from the OC, but in no way matches the amount they are trying to collect on. My question is this: The account is not reported by any of the CRA's, and it is soon (if not already) out of SOL based on the statement they sent. Should I respond, or just ignore their attempt at validation? I was going to reply and ask for more information, etc. etc., but is it worth it? I want to cover my bases, but since it is not on any Credit Report, what do I have to lose by ignoring?
Demand a complete account history, tell them that what they provided does not properly substantiate the amount, character, and the legal status of the debt, and does not explain the amount which they are claiming. Demand that the complete account history, includes any fees which they are trying to charge, where those fees are legal under the contract (which they'll need to provide to you, as well), and under the laws of your state.
btw: the reason you want to keep the dispute alive, is because if they think they've validated, they could file against you on that day, and the suit would still have timely status, despite the fact that the suit itself may not occur until after it is time-barred. you want to make sure that they know that what they provided is not valid validation, and you are demanding that they provide the complete and total validation which substantiates the entire amount of the alleged debt. when I had something similar, my reply was an auditing that would have made Arthur Anderson crying (worse than when they got caught fudging Enron's books).
Also demand the date of first delinquency. This will establish when the account becomes legally uncollectable due to SOL.
If you are not sure the SOL has past, maybe request as jam has suggested, in the form of a request for the full account history.
