you receive just a computer printout type validation with the amount you supposedly owe and your soc and who the original creditor is. They say I owe now 1491 on a charge off that was only 796 but 714 in interest. Bullcrap. On top of that, the chargeoff for dayton's/target now being merged to Marshall Fields whom asset acc bought this debt from was in 8/96 and they said my last payment was in 5/97 which is not true and that the chargeoff was in 8/97 which is false too because according to my past CRs it was in 2/97. So where should I go from here. I need a great letter to mail these bastards back. Oh on top of this all, this account although actually mine was opened when I was 17 in 8/88 which I didn't turn 18 until 12/88. I hate ASset Acceptance, they are rude.......... They just got this account in August and are all over my report now and ontop of that Marshall Fields who is only on 2 of my reports, ex and eq, I got them removed off of TU is still reporting this with the 790 something chargeoff balance making it look like another account on top of the asset one.
I thought the estoppel was just for if you didn't receive any sort of validation at all. I got a validation letter back but it is just the computer generated type. No signiture and when they called and I requested the validation, they wanted me to send in five copies of my signiture and that is when I told them, I never had this account and would like to see proof that you have my signiture stating that I owe this bill from Marshall Fields and they sent this computerized statement crap with no signiture on it at all.
I am dealing with Asset Acceptance right now. I sent them a validation request about 6 weeks ago and received their infamous printout on Asset letterhead. I then sent a followup explaining that printouts are not acceptable as validation and included a copy of the Wollman letter. I gave them 15 more days. The 15 days was up last Wednesday and gave a few more days for good measure. Today I shot out another letter...basically repeating what I stated in the first two letters. But, in this letter I really nailed them to the wall and listed their violations. I included all correspondence between myself and them as 'exhibit 1, 2, 3...'. They made the mistake of verifying this acct with the CRAs while it was in dispute. I gave them another 15 days to respond and really don't expect to hear anything from them. If I don't hear back, it will be estoppel, then 48 hr fax, and then litigate. Reason why I decided to give them another 15 day extension is because if this goes to court, I want to demonstrate that I gave them ample time to respond. I'm just afraid that if I only give them 30-45 days and then sue I will be unsuccessful because the judge will view me as being impatient and pushy... I'd rather give a few extra days if it will show the judge Asset's true ignorance to the law. Good luck and I'll let you know how this turns out. Hopefully soon so I can go out and buy a car (finally).
Use the estopple, modified to contain "what constitutes validation", and a demand for such proof that you owe the debt, or immediate deletion. Search the board for the "wollman letter" or "what constitutes validation" and pull together some ideas from those posts. -Peace, Dave
1*They did not send you any type validation.They sent garbage.They might as well have sent you a red hankie.Red hankies aren't Validation.Just like the red hankie neither is the garbage you got from them.They throw you curves like that to try to trip you up.Don't fall for it:Ignore what they sent by sending the estoppel letter. 2*Don't ever send a CA anything with your signature on it. They can use it to forge your name on documents.
What if you do this and they get their act together and send the Validation? Haven't you just screwed yourself? I would just wait out the 30 days then send the estoppel.
What if you do this and they get their act together and send the Validation? Haven't you just screwed yourself? -Peace, Dave
LBrown, I would be working to bring evidence to court (if need be) that I tried all reasonable efforts to obtain proper validation of the debt. Especially if they have some "documentation" about the account that they will bring to court. I would hope to convince the judge that I exhausted all my avenues to obtain proper validation, and that is why we are in court. You are not "screwing yourself" by demanding what is rightly afforded to you under law don't forget, you still have to convince a judge of your case if you have to take it to court. You can not play games with a judge, they'll see right through you. -Peace, Dave
CreditNet board FAQ is still being compiled. Estopple: a bar that prevents one from asserting a claim or right that contradicts what one has said or done before or what has been legally established as true. Basically you use the estopple letter to demand that the creditor update/remove the listing since they have NOT properly validated that you owe the debt. -Peace, Dave
I have been in the process of debt validation. Sent the second letter out, and now have received the same computer generated letter I got the first time. 60 days ago. No validation info has been sent. Now what? Also, can a second mortgage company force the sale of a house? Thanks.
Melissa, I think we all hate Asset, LOL. I have the same problem with them. They're on all three of my reports for a Helzberg account and both Asset and Helzberg report balances on all three, making it look like I owe two of the same debt. Plus they have it noted in dispute on my reports and are still sending letters....I just sent them the validation letter so we'll see what kind of crap they send back.
I would say that if the computer printout is not satisfactory validation according to the FDCPA than you have a case to bring the CA to small claims court (if this is a CA and not the OC - still not quite sure of the validation requirements of OC under FCRA). By second letter, do you mean the estopple letter? You might have some luck with the "intent to sue" letter, but I think that is a waste of time, were I in your shoes I would simply file in small claims and serve them, hope they settle. Just be sure you have evidence to back your claims up if they proceed to court. Not sure what you mean by "second" mortgage company. If the mortgage was sold, and your original contract allowed the original mortgage company to sell your loan, then you are bound by the terms of the new mortgage company but under the terms of your original contract. If you mean re-financed with another company, then there really is no "second" mortgage company, you now owe a different mortgage company under their new terms. While I don't understand "second" mortgage company, I believe the answer to your question is "YES they can if you have defaulted on your contract". -Peace, Dave
Could be deb is talking about a 2Nd. mortgage rather than a 2nd.lender who is now holding the first mortgage
WE have a second mortage (lein) on our house. We are in default on the second, but our first mortgage company is working with us to get caught up. I understood that in order for the second mortage company to force the sale they would have to purchase our first mortage. Our second mortgage was sold. What is the estopple letter? I am new to all this. Thanks
Like everyone else, I hate Asset too. They are totally manipulative. They sent me a letter stating that they were sending off for the information I requested; now let's just see if that ever shows up. Ho hum, they are truly a thorn in my side.
Ahhh. thanks for clearing that up LBrown. Deb, sorry I just misunderstood. Yes I believe you are correct, a lien on the home would not allow them to force the sale of the home without first purchasing the mortgage from company 1. BUT If your 1st mortgage can be sold (not all can, look at your contract), and the lien is substantial, they might do that since they are in the business anyway. When you get caught up with the mortgage, maybe they will extend you some credit to get caught up with your second mortgage. Click Here Estopple Letter it is the 60 day validation letter. Peace, Dave
The first mortgage is a VA. I don't think it can be sold. And its around 98,000. I don't think the second mortgage company wants to chance a short sale. But who knows. thanks for the estopple letter.
