Validation

My guess would be it would (unfortunately) hold up as proof of debt if the CA decided to file against you. Have they also been able to come up with your signed application?

 

Oddly enough, it sounds like this CA actually followed the law, and indeed provided validation. I suggest (unless anyone else out there has another idea) you begin settlement talks. You should probably start around 25% no deletion or 40% with complete deletion of account.

BTW, how old is this debt, I mean, when did the OC charge it off? Have you already checked to be sure it's still within SOL? Is it large enough that the CA will pursue legal action if you just ignore them?

 

If you have the SOL on your side, I don't see why. If they re-aged it, that's a violation. No point in negotiating, in 99% of the cases they'd refuse to even negotiate a deletion. Send them a C&D letter and a notice of intent to file suit if they don't "de-age" the account back to what it should be.

Now, if you DO want to pay: Write a check to the original creditor using the old account #. Next, get a statement showing $0 balance. Then forward it to the CA with a letter, advising them to cease all collection activity and to turn to the original creditor to resolve any accounting differences they may have.

Saar

 

Wait a minute... if this is past SOL, DON'T PAY! Here I am thinking this a relatively new debt. I suggest you follow Saars' suggestion above.

 

Yes, the CA can choose whichever states SOL is longer. So, if it's past SOL in Ohio, they cannot sue you there. If, in the state the contract was signed the SOL has not passed, then they would be allowed to sue in that state.

 

Kit,

From your first post:

OK. I finally received the response to validation request I have been asking for from a CA. They sent me a month-by-month accounting of the debt from the original creditor, plus a few receipts. Two receipts actually do have signatures, although one is a returned item, but the rest (10 in all) do not have signatures. They did not send a signed agreement. I am trying to think what to do next and I've decided these are my options:

1) send response to validation - tell them what they sent isn't enough and that they need to show proof of a contract. Are the signed receipts enough?

2) offer a settlement for deletion - Either 25% of total or offer to pay for the net amount owed from the SIGNED receipts. I have a feeling they won't go for the latter since it is only a fraction of the debt.

I just don't want to screw this up - I don't want to admit to something (by making a settlement offer) until I am sure their is no other option. On the other hand, I really want to be done with this and get it off my report. Maybe you guys have some ideas on this - I am spinning my wheels on this one.

A HUGE part of asking for validation is receiving documentation confirmation that the CA in fact has the authority to collect the debt -- evidence that you have a contractual obligation to pay THEM. Did you ask for this as part of your validation? Did you receive it? If not, there's a partial validation letter in the samples you might want to consider.

If yes, does your state require the CA to be licensed and bonded? Are they?