I was wondering what some of your experiences have been with validation letters. I just got a letter from asset acceptance and they bought an old debt that is 10 years old, and are trying to collect on it. I am preparing my validation letter and am wondering if I should mention that the SOL has expired...what do you think?? Thanks in advance...great site.
DO NOT mention that the SOL has expired. Give them a chance to allow you to sue them for FCRA and FDCPA violations. Send them a validation letter. Make sure that it says "I am not admitting the validity of this matter in any way, and this letter is neither an admission of liability nor a promise to pay." Expect the following: 1: They will not validate. They have nothing to send you that will provide validation. 2: They will enter a trade line on your CRA file (FDCPA violation). 3: They will verify the trade line when you dispute it (FCRA Violation) 4: They will verify the trade line again when you dispute it a second time (FCRA Violation elevating it from unintentional violation to deliberate violation). 5: They will probably re-age the trade line (FCRA violation). 6: If they file suit, you answer with the SOL defense and countersue for Abuse of Process (their lawyer should have known a debt that is 10 years old is Out of Statute. Need any more reasons to give them enough rope to hang themselves with?
