Validating debt

Submitted by Anonymous (not verified) on Fri, 08/27/2010 - 05:37
Forums
Credit repair

I recently sent a pfd letter to a collection agency on a credit card. It wa a $4000 debt and I offered low around $850 for them to accept and delete. I recieved a counter offer in the mail for $923 which is resonable to me and I can do it. They did not offer the pfd though only a settled in full. Also the letter stated at the bottom I have 30 days to validate. SHould I validate the debt before accepting the offer and if its validated send another pfd letter for the $923 they offered me to see if they would budge. Also do you think me asking the debt be validated cause them to retract the offer?

Aaron

Hi Guest,

If you are sure that you owe this debt then there is no need to validate the debt. You can go forward with the settlement offer. If you try validating the debt, they may retract the offer. However, if you don't think that you owe this debt you should try validating the debt.

If the debt is valid, and if you decide to make the payments, you can send them a pay for delete letter through certified mail, requesting a return receipt. See if they agree to it.

Thanks,

Aaron

Fri, 08/27/2010 - 07:04 Permalink
tracy (not verified)

Within five days of its first communication to you, the debt collector is responsible for sending you a debt validation notice.This notice should be in writing letter letting you know you have the right to dispute the validity of the debt within 30 days.

Fri, 08/27/2010 - 09:39 Permalink
cinnamngrl

I disagree with aaron. Send the DV request. I am curious about the details here since they are willing to settle for less than 25%

do you have all your credit reports?
what state are you in?
what is the original creditor and the name of the CA?
what is the date of first delinquency? 30 days after last payment

Fri, 08/27/2010 - 10:45 Permalink
Anonymous (not verified)

original creditor was providian.
amount was $4123

I sent the pfd to Equable ascent financial and I received a response from northland group who is now representing equable ascent financial. THey offered a settlement of $923.32 to close the account. Im not sure what to do now should I have them validate it or just pay it to them. I dont want them to retract the offer because I would like to get it taken care of, but I wish they would delete it.

last payment to the original account was july of 2008. I live in Pa.

Fri, 08/27/2010 - 17:42 Permalink
cinnamngrl

providan went under a long time ago. i think you should send the request for validation.

when did you get this credit card? were you paying a collection agency in 08?

Fri, 08/27/2010 - 22:07 Permalink
Anonymous (not verified)

providian/wmb last payment was to oc in 7/08

Sat, 08/28/2010 - 22:34 Permalink
tracy (not verified)

If you do not want to do validation yon can go with debt settlement.

Mon, 08/30/2010 - 11:45 Permalink
Aaron

Hi Guest,

The Statute of Limitations on this debt has still not expired. However, if you did not offer the settlement through letter, you can try validating the debt.

Thanks,

Aaron

Mon, 08/30/2010 - 12:11 Permalink
ashleywatson

I am not sure what to do now should I have them validate it or just pay it to them.I think you should send debt validation notice.

Tue, 08/31/2010 - 12:20 Permalink