I've had four--count 'em, four-- CA's try to collect on a student loan. Each one blunders when I ask for validation, folds, and sends the debt back to USA Funds (the student loan co.). Anyway, the fourth CA, Wyndam Professionals, provided a partial validation, ignored my 2nd fax (the 14-day re-iteration of demand for full validation); ignored my threaten-with-BBB/FTC complaint fax, and then once I filed complaints with the BBB and the FTC, THEN they sent me what I think may be full validation in the mail, CRRR. Any suggestions? I am sure they have screwed up here, i.e., it's too little too late, but I want to make sure I proceed carefully here with my next response. Any suggestions?
How do you think they screwed up? You say it is too little too late? Why? There is no time limit for a ca to respond to a request for validation.
If what they sent you satisfies your validation request, then you should tread lightly. If they can prove it to you, they could prove it to a judge as well if you push them.
Just curious, why do you feel it not necessary to not repay a student loan that you just admitted as being yours, Student loans are given to help people get educations that otherwise would not be able to get them. People like yourself who default and refuse to re-pay. Take money from people like me, who were never able to get one, because of income restrictions. pay em back. if its yours, pay it back.. bottom line, its not a scummy credit card company, or a shady car dealer. they were helping you out.
You have an excellent point Sahlegian. The issue is supposed to be that while simultaneously repaying that which we do owe, we also must be careful not to leave the CR screwed up for the next 7 years. Ok ... so we fell behind ... so what. You're right in that it's not fair to not repay something like a student loan. But living in credit hell for the next 7 years because of a mistake is, in most of our opinions, not fair either. Most especially when the company also charges interest on outstanding debt. Which means any alleged financial loss suffered by the company is well made up for.
funny where people draw their lines. They helped out just as much as a credit card company or any other creditor. I don't think the original poster said he was hoping to get out of paying his debt. There are more legit reasons for asking for validation then not, and there are consumer protection laws that are to be followed. The end does not justify the means. I think you should ease up some, this is all about dealing with credit issues and by extension consumer rights.
Student loans, are for the sole purpose of sending a person to school who is more likely than not trying to better themselves, credit cards are used for whatever you want. Whether it be a Book at the campus bookstore, or a 48 inch LCD TV. My whole tangent is that the companies are good enough to extend some people the money to help them better themselves, and the huge delinquincy rate causes higher intrest rates, and less money to go around, hence forcing them to tighten the restrictions on qualifacations. Granted procedures have to be followed, but i see my share of people not wanting to pay back their student loans at all.
by the way, not to flame the original poster, if the original poster has had 4 collection agencies try to chase him for a student loan. And he knows it is his, and forces them to validate and feels some sense of victory when they send the debt back to the OC, i would say circumstances would show that the account is way way way past due, and the poster just doesnt want to pay. my 0.2 cents
Okay folks... since my neighborly attempt to solicit advice has resulted in a vicious character assassination, let me clarify here: This is the fourth collection agency trying to collect on an alleged loan that is fifteen, yes, FIFTEEN years old, that none of the CA's have been able to show me proper paperwork for. I've never disagreed with any of these CA's that I had a loan back then -- my contention is that it's a duplicate of a loan ALREADY PAID OFF and nobody has been able to prove otherwise. I got both Experian and Equifax to delete this thing; only Trans Union is left. I have paid all my other student loans off, thank you very much, but I refuse to throw away $1500 just because I'm told to. So everybody, please give the benefit of the doubt before you start ripping someone apart. Now, back to my original question about late validation by a CA?
Re: Re: Validation long after deadline? I hope you read the orignal posters follow-up. Like I said, there are MANY legit reasons for requesting validation - THATS WHY IT'S IN THE FDCPA IN THE FIRST PLACE. I would say this is not the place to judge others, particularly with some abritrary line of ethics you draw that may or may not even remotely apply to the situation. Ok- this was a troll and I bit
Re: Re: Validation long after deadline? A persons desires has nothing to do with their rights to be covered under consumer laws. The FDCPA and other consumer laws are not based on if you owe the money or not. Please read the following thread
Re: Re: Validation long after deadline? Get this through your thick Skull: It don't make no matter what he wants he still has the same rights as anybody else under the law.
Re: Re: Validation long after deadline? Please show me where in the FDCPA that it dose not cover the original poster !
1*Just curious, why do you feel it not necessary to not repay a student loan that you just admitted as being yours, 2*bottom line, its not a scummy credit card company, or a shady car dealer. 3*they were helping you out. sahlegian =================== 1*I reread his post the only thing he said is he thinks it may be Validation a far cry from actually admitting the debt. 2*So because they are not that makes it OK for them to break the law RIGHT? 3*How does trashing his reports for 7 years which lowers his scores allowing the con game known as fico to increase his insurance rates credit card interest and loan cost help him ?? ? There is another issue here and that issue is this. There are certain legal requirements demanded of one who is seeking payment of or on a debt. These laws apply to both owed or un owed accounts. Simply because you actually are owed the money is not an automatic exemption from the law. The END ************************* LB 59
LB Brown 59, thanks for sticking up for me. Let me clarify a few things for everyone else and LB also. This company, Windham Professionals, sent me, for validation, a promissory note that does indeed bear my signature -- but here's the innnnteresting part -- the promissory note is for two separate loan amounts of $5500. Oddly, the $5500 figure on both is CROSSED OUT and rewritten, in handwriting that's not mine, as $2625. And get this -- the original principle they're trying to collect on is not $2625, or $5500, but $1527! -- which coincidentally is the exact same amount as another loan with another company that I've already paid off long ago. Hmmmmm. Furthermore, the alleged loan in question, as I said, is 15 years old. And finally, the final page of the promissory contract which would contain the original creditors' ability to assign the debt to other parties... is conveniently xeroxed in a way that is completely unreadable -- basically a big black blob. So folks, let me ask you -- would you, particularly after this very suspicious pseudo-validation, coming far beyond the 30 day window and without the account being listed as disputed with TransUnion, would you just write this CA a check without question? I smell a rat here and this is why I am fighting this. And this is why I asked for everyone's advice to begin with.
Ok so your were right the law has to be followed, I was wrong as usual, my thing is that I am particularly salty on this topic because when i applied for some student loans back in the day, (many moons ago).. I was flat out denied, and told it has nothing to do with credit, but it has to do with the selection process, and they have to be more selective because of growing delinquincy rates and less to go around. that really burned my A@# and remember that was in 1993, so good old Sean carried golf bags from age 12 - age 23 in order to put himself through college. (maybe thats why im so short). I guess it paid off because now im not paying back any loans and all my friends are, but maybe it didnt because i still cannot get into my Explorer without the little steppy thing.. SO there is where im coming from. I should investigate a little more before i write...
Re: Validation long after deadline? sahlegian | 57 posts since Dec 2002 24.50.204.68 | 03.31.2003 @ 09:07 Ok so your were right the law has to be followed, I was wrong as usual, my thing is that I am particularly salty on this topic because when I applied for some student loans back in the day, (many moons ago).. I was flat out denied, and told it has nothing to do with credit, but it has to do with the selection process, and they have to be more selective because of growing delinquency rates and less to go around. that really burned my A@# and remember that was in 1993, so good old Sean carried golf bags from age 12 - age 23 in order to put himself through college. (maybe that's why I'm so short). I guess it paid off because now I'm not paying back any loans and all my friends are, but maybe it didn't because I still cannot get into my Explorer without the little steppy thing.. SO there is where I'm coming from. I should investigate a little more before I write... =================== Congratulations: Glad I could help you learn something. Thanks for admitting you were wrong - takes a big person to do that ! The END ************************* LB 59
Happy ending to this story, everybody. The CA, Windham Professionals, settled with me for a nice chunk of change after I threatened to sue them. The bogus student loan tradeline has been deleted as well. So for those of you who flamed me for not just laying down and paying them when I knew I was right -- tsk, tsk. Stick up for your rights, fight these CA's, and things turn out well -- I'm proof.
