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am having issues with asset acceptance. The first validation I sent they just sent me the name of the orginial creditor on their letter head with interest and what I owe now. Then I sent them another validation same one and emphasized the proof I need they sent me another letter back stating that after their investigation of the information they have and the information they received from the orginal creditor that they concluded that the information is right and that they have marked my account as disputed...this is the same response I get when I sent it out a 3rd and 4th time....what are my options with them. I was thinking or writing the FTC.....They still have not proven that this debt is mine....
Hi Tammy, Have you checked the SOL for your state if not and the dept has past do not make any payments to them because if you do then the SOL will start over again. Send them a letter letter letting them know it has past.And they can no longer collect from you. As far as the debt validation letter goes some collection agency can not prove the debt is yours so that's why they can not provide you with the proof. I wouldn't settle for anything less than a copy of the original contract signed by you. Not sure about the FTC thing but someone should be able to help you with that.
Tammy, I understand your distress with the debt validation process. I am going through this now. I know they do have up to sixty days to validate. I was also told even if they do not validate the debt you can still be held responsible. If I was you I would call the FTC or your atty general and ask them what to do from this point. One of our more wiser advisors may be on this site in the near future and help you out with a more solid answer.
Hi Tammy,
You can write to the FTC if you want. However, remember one thing, before the collection agency can validate the debt, do not pay them a penny. If after so many requests they have not been able to provide you with the required information, chances are they do not have it. When the collection agency fails to provide a proof of debt, you have a chance to dispute it with the credit bureau stating that the CA has not been able to provide any validation.
Also be sure what they send you is actual debt validation. I do believe that this is a copy of the original signed agreement with the original creditor. They also, from what I have read, must send you the payment history on the account.