Two years ago, a collection agency was not able to verify a debt (Verizion). Now two years later a new CA is asking for the same Verizion payments. Is this legal ? Will this never end ?
Thomas, they can try to collect a debt for an eternity. Usually they will sell it to the next debt collector once they can not verify or collect it. My own debt has passed through at least 5 already. They can continue this but most of them buy junk debt for pennies on the dollar and try to harass people into paying there past due amounts. Since they buy so many they usually DO NOT get the proper proof to legally be able to prove and collect the debt. You need to look up your state SOL and see if you are protected from being sued in court.
Even if they can legally sue you they won't win of they can not prove the debt. Hope this helps.
You need to keep a cease and desist letter on your computer and change the collection agencies information as it changes hands, as fireyone said it will keep changing hands time after time, if you do up a letter I would just keep it handy so that you can just change the collection agencies name.
Hi Thomas
What happens is that, these collection agencies purchase the debt from the original creditors at a discounted rate, sometimes even less than half the outstanding debt value. Most of them do not have any valid papers to prove that the debt has been sold to them and so they cannot validate the debt. When you ask for debt validation, the collection agency must validate the debt within 30 days of receipt of the letter, else you are not liable to them for the debt. When they cannot validate the debt, these collection agencies sells the debt off to another junk buyer and the name of the junk buyer gets listed in your credit report. Now this junk buyer becomes eligible for collecting the debt subject to the condition that he has proper validation. Since the collection agency (Verizion) from whom the new CA has bought the debt, could not provide you with proper validation, it is likely that this new CA will also be not able to provide you with proper validation. So I would suggest you to send a debt validation letter to this new collection agency by certified mail. If they cannot provide you with proper validation, dispute the listing with the credit bureaus to remove the listing from your credit report.
Hi Thomas
Justin is right. This is legal and the collection agencies will continue to sell the debt, till a time comes when one of them becomes successful is collecting the debt from you. So be careful and ask for debt validation under certified mail whenever you find a new CA contacting you for the debt. At the same time check whether the debt has passed the Statute of Limitation period in your state. If the SOL has expired, then automatically you are no longer liable for the debt.
Thomas, they can try to collect a debt for an eternity. Usually they will sell it to the next debt collector once they can not verify or collect it. My own debt has passed through at least 5 already. They can continue this but most of them buy junk debt for pennies on the dollar and try to harass people into paying there past due amounts. Since they buy so many they usually DO NOT get the proper proof to legally be able to prove and collect the debt. You need to look up your state SOL and see if you are protected from being sued in court.
Even if they can legally sue you they won't win of they can not prove the debt. Hope this helps.
You need to keep a cease and desist letter on your computer and change the collection agencies information as it changes hands, as fireyone said it will keep changing hands time after time, if you do up a letter I would just keep it handy so that you can just change the collection agencies name.
Hi Thomas
What happens is that, these collection agencies purchase the debt from the original creditors at a discounted rate, sometimes even less than half the outstanding debt value. Most of them do not have any valid papers to prove that the debt has been sold to them and so they cannot validate the debt. When you ask for debt validation, the collection agency must validate the debt within 30 days of receipt of the letter, else you are not liable to them for the debt. When they cannot validate the debt, these collection agencies sells the debt off to another junk buyer and the name of the junk buyer gets listed in your credit report. Now this junk buyer becomes eligible for collecting the debt subject to the condition that he has proper validation. Since the collection agency (Verizion) from whom the new CA has bought the debt, could not provide you with proper validation, it is likely that this new CA will also be not able to provide you with proper validation. So I would suggest you to send a debt validation letter to this new collection agency by certified mail. If they cannot provide you with proper validation, dispute the listing with the credit bureaus to remove the listing from your credit report.
Hi Thomas
Justin is right. This is legal and the collection agencies will continue to sell the debt, till a time comes when one of them becomes successful is collecting the debt from you. So be careful and ask for debt validation under certified mail whenever you find a new CA contacting you for the debt. At the same time check whether the debt has passed the Statute of Limitation period in your state. If the SOL has expired, then automatically you are no longer liable for the debt.