The One Letter worth 12K

Discussion in 'Credit Talk' started by ATM, Mar 17, 2001.

  1. ATM

    ATM Guest

    Yesterday I got a letter in the mail and I thought it looked kind of thick so I was worried that the creditor had found all the documents I had requested in my validation letter.

    Well I open up it up and I start reading what turned out to be a very nice letter stating that they could not find the documents from my charged-off auto loan and that they had sent a Universal Data Form (UDF) to all 3 CRA's to have the account deleted from my files.

    The collections supervisor sent me this letter and hand signed it along with a copy of the UDF with all my info right there. I stopped in my tracks and started jumping up and down like a 5 year old :) You have to understand that I've been dealing with this for almost 2 years now.

    Like I mentioned in another post, I was ready to pay a few grand to the collection agency less than two months ago, just to have them close the account. I would hope they wouldnâ??t respond to a future dispute I would do with the CRA's. This plan worked out much better and faster. I sent the letter by FedEx overnight on Feb 28, and the letter the supervisor wrote back to me, was dated March 13. My Trans Union report is already updated and now I'll just wait for the other two and then I'm going to Disney Land :) The letter to me said to keep it for my records. I'll keep it for my records just in case, but I'm not worried at all. The letter to me also stated that they had contacted the collection company and told them to delete me from their files and to stop any further contact with me. And after all that the letter states, " I apologize for any inconvenience this may have caused you."

    Everyone I have to say it worked too well and I almost feel guilty that one letter wiped out a debt that I really did owe. Well I'll just remember that they did write it off and they had a chance to sue me, but never took it. If anyone is wondering, the debt was charged off with me owing about 6k and with interest it had gone up to almost 12k. By the way, up until yesterday I did have my old copies of the original contracts and it did state that if I default on the loan that the interest would still be in affect until the balance is paid in full. And the interest was at a nasty 23%. Well that's all History now! Don't give up! Thereâ??s always a way. I started with charged-off credit cards and a charged-off auto loan and now as of this month, it's all gone for good. Time to get on with my life and never make those mistakes again. Besides thereâ??s all-new mistakes to make somewhere else down the road, so why use old ones again? LOL
  2. Shane

    Shane Guest

    Who was the original creditor?
  3. ATM

    ATM Guest

    Copy of the letter I sent

    This letter was from the Yahoo Credit board and I just changed a few things in it.

    February 28, 2001 Name
    XXXX Street

    American General Finance
    PO Box 3251
    Evansville IN 47731-3251

    Re: Account Number: XXXXXX FedEx Tracking Number: XXXXXXXXX


    This letter is in regards to the above account allegedly belonging to me. This is not a refusal to pay, but a notice that your claim is disputed.

    I have been contacted by several employees of Premium Asset Recovery Corporation (PARC) in regards to the above account number, over the last few months. Several attempts by me have been made since November 2000, to obtain accurate information detailing my obligation and associated total dollar amounts attached to said account.

    Through contacting both your office as well as PARCâ??s offices within the last two weeks, I am under the impression that my valid requests have been ignored.

    Furthermore information I have obtained from PARC (both in writing and verbally) is not consistent with the information I have so far obtained from your office in regards to said account.

    Page 1 of 3

    In an attempt to resolve and correct all issues in association with said account, I must formally ask you to provide the following information:

    1. Please evidence your authorization under 15 USC 1692(e) and 15 USC 1692(f) in this alleged matter.

    2. What is your authorization of law for your collection of information?

    3. What is your authorization of law for your collection of this alleged debt?

    4. Please evidence your authorization to do business or operate in this state.

    5. Please evidence proof of the alleged debt, including specifically the alleged contract or other instrument bearing my signature.

    Within 30 days of your receipt of this document, I request you forward to me, copies of all signed contracts evidencing my obligation in regards to the origination account of alleged debt. Along with copies of requested documents, Please complete and return the attached disclosure request form. This is a request for validation made pursuant to the Fair Debt Collection Practices Act.

    Be advised that I am not requesting a "verification" that you have my mailing address, I am requesting a "validation;" that is, competent evidence that I have some contractual obligation to pay you in regards to the alleged debt (the above account number).

    For the purposes of 15 USC 1692 et seq., this notice has the same effect as a dispute to the validity of the alleged debt and a dispute to the validity of your claims. This notice is an attempt to correct all records in regards to the above account, and any information received from you will be collected as evidence should any further action be necessary. This is a request for information only, and is not a statement, election, or waiver of status.

    Your failure to satisfy this request within the requirements of the Fair Debt Collection Practices Act will be construed as your absolute waiver of any and all claims against me, and your tacit agreement to compensate me for costs and attorney fees, should any legal actions be necessary for the conclusion of this matter.

    Further more specifically, failure to respond, on point, in writing, hand signed, and in a timely manner, will entitle me to presume that all allegations associated with said account, XXXMy NameXXXX have been made in error, and that this matter is permanently closed.



    Page 2 of 3

    Name and Address of Debt Collector (or assignee):

    Name and Address of Alleged Debtor:

    Account Number:

    What are the terms of assignment for this account? Please attach copies of any records relating to such terms.


    Have any insurance claims been made by any creditor or assignee regarding this account?
    Yes / no

    Has the purported balance of this account been used in any tax deduction claim?
    Yes / no

    Please list the particular products or services sold by the collector to the alleged debtor and the dollar amount of each:

    Upon failure or refusal of collector to validate this collection action, collector agrees to waive all claims against the alleged debtor named herein and may be required to pay alleged debtor for all costs and attorney fees that may arise in the involvement of defending this collection action.

    Authorized signature for Collector Date

    Please return this completed form and attach all assignment or other transfer agreements that would establish your right to collect this debt. Your claim cannot be considered if any portion of this form is not completed and returned with the required documents. This is a request for validation made pursuant to the Fair Debt Collection Practices Act. If you do not respond as required by this law, your claim will not be considered and you may be liable for damages for continued collection efforts.

    Page 3 of 3
  4. KelTex

    KelTex Guest

    Re: Copy of the letter I sent

    This is very reassuring. I have two very small collections right now that I have been disputing since Oct. and have gotten nowhere. I guess that what surprises me about your case is that the collection agencies actually responded-letting you know that they received your letters, that they could not locate documentation, etc. This is great.

    I have one collector that is working on behalf of a major long distance carrier. I C&D them when I received the "proof"-a Word generated printout indicating that the original creditor had not applied last payment. Have been disputing with original creditor now for two months. Gotten nothing, except my signed return receipts.

    Creditor # 2 is a hospital bill. I have been disputing this with NCO since October. What did I get-the account is now listed on my reports. No validation, acknowledgement, etc.

    I am planning to dispute these to the CU soon. I guess the moral of the story here is persistence ;)

    Congrats ATM, and thanks for letting us know about your success!
  5. Marie

    Marie Well-Known Member

    Re: Copy of the letter I sent

    It's a good mix. Even if they fill out the bottom half they tend to neglect the first questions. So you still have an incomplete validation.

Share This Page