I understand the idea of sending a validation letter to a 3rd-party collection agency, but what about a credit card company? I know that a Cease-Communications letter cannot apply to the original creditor, but what about validation? For example, Joe Blow has a balance of over $7000.00 on a credit card account. This account was bought by a CC company from another CC company. He's received semi-threatening letters from the company recently because he's a few months behind. Should Joe send a validation letter? If so, why? He shows lates from a little over a year ago, when the original CC company owned the debt, and currently, under the current CC company. What do you think?
Here's an addendum to my question above because this is what I'm really asking: Is there such a thing as a "partial" validation letter? In other words, the account is mine and I'm not disputing that, but I demand PROOF that I owe this much and that I was late a year and a half ago. What do you think? Or, does the standard validation letter cover all of these grounds? Anybody? Thanks!
I think what may help is a dispute under the FCBA (Fair Credit Billing Act). It covers current debts. You may dispute any portion or all of the bill. Look here: http://www4.law.cornell.edu/uscode/15/1666.html SK
Thanks, SofaKing. If I were to dispute just the lates, would it reflect on my report as "In Dispute?"
Yes, I believe they must report it as "in dispute" until they have satisfied the requirements of the law. If you dispute just the older late payments they will probably send you a printout of your payment history. SK
Will a standard validation letter work in this case, or is it only a 3rd-party collection agency that has to provide validation?
You can't use the standard validation letter here because it is full of collection-agency only BS. You should write a short, get-to-the-point letter addressing your specific areas of dispute. You may have to go back and forth with them to prove your case. What is your goal here? Keep that in mind. If you are late, you are late. It's hard to argue with that unless you can prove you paid on time. As far as the older late payments, you may get them to fix that up for you if they don't have adequate records. SK
"How can you be late on something you don't owe??" Read the original question. He admits he's late on a current credit card. (on his hypothetical) Since we are talking a current debt here, not in collection, the records are fresh. If the "printout" is in error, show them why. The laws are different when dealing with the original creditor. They are not bound by the FDCPA. SK
