First of allâ??thanks to all you who have been answering my questions. Your superb answers and support have been wonderful I have another (several) newbieâ??totally green questions ( yes--a total neophyte) about debt validation. Is the purpose of DV to show who owns the debt? If so, does one request a DV from an OC or JDB or both? Is the purpose to have the OC or JDB not report back? After obtaining credit reports, would this be my first step on the road to Credit repair? Iâ??ve spent about a year and a half avoiding creditors and itâ??s now time for me to take action. From my CR, I can see that a few were soldâ??do I send them a debt validation letter? Would this be a place to start? What happens if they don't validate? What happens if they do validate?
The debt validation goes to the CA or JDB, since OCs are not required to validate to you. The purpose of validation is to prove that the debt is yours, show how the balance was calculated, and show that they have a right to collect the debt.
Thanks Hedwig--I'm in process of reading Butch's tacked thread on validation. A lot to take in on one read--going in for a second read Since I've only practiced avoiding, and have not asked any of the JDB that now own my debt for validation --missing 30 days by a long shot--can I still request validation from JDB? I'm not attempting this just yet, I need to read more and organize--so this is a prep question. Didn't even realize till last week that I might have a voice in this process. An awakening of sorts.
If I am reading Butch's thread correctly, I would first ask for debt validation from the CA (a dispute?) and the JDB. Is that correct? If the JDB or CA cannot provide the complete original contract--the info (tradeline?) slides off the CR? Is that correct? And if they do respond, with a copy (not original) of the contract, I would further ask for the original? And, if they provide the original within 30 days (does this happen often?) what happens then? Should I copy the thread I'm refering to into this thread?
I think I may be asking too many questions at once. So--my first question is who do I sent a DV letter to first, the CRA or JDB?
A debt validation always goes to the CA (or JDB--whoever is collecting). Disputes go to the CRAs. Some of the older threads have some inappropriate information, and things change over time. They don't have to provide the original contract. They have to provide proof that the account is yours, that the amount is correct (they need to tell you what amounts they have added, like interest or fees), and that they have the right to collect.
You will g et a lot of different answers to validation as basically there is no one answer. Basically validation to me is if they can show me that I owe this debt by having the OC verify and this would mean a year of statements, and last charge and payment. A letter stating they are now owner and or assignee of the debt they are dunning me on, and if so how did they come up with the amount they say I owe. You would demand validation from the CA or the JDB whoever you got a letter from Even though there is a 30 day timeline, I would still do a DV and CRRR as it has helped me in the pastand it will hopefully help you as well. Woofer
Thank you both so much for answering What would happen if they ( CA or JDB) never respond ? What happens if they respond with a summons and file a case against me insead of validation?
If they don't respond, they must cease collection activities. If they respond with a summons, you'll request the proof as part of discovery and go to trial or settle.
