I was in the process of buy a house about 7 yrs ago,. I received a letter from a debt collection agency saying I owed 6000USD on a SAKS Credit card. I do remeber having a SAKS card but I did not owe that amount. My broker on the house loan advised me to make the 60USD amonth that they wanted so it would not show on my credit report. So fast forward today I make less than half of what I did then and i spke to a credit help agency and they said that I should have this debt fm SAKS properly validated when I requested that info fm the collection company they said that they do not have that at that point i have done some research and now i am going to small claims court because The can not validate orgian loan fm SAKs and orginal amount.any comment swish me look thanks ray
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Hello and welcome to credit magic,
I agree you should have asked for debt validation in the beginning. I wouls have sent them a DV letter and made sure it was sent by certified mail,return receipt requested.
If you originally had the account and did not finish paying it off then it could have reached the said amount easily. You figure in years worth of interest and over the credit limit and past due fees it would add up quickly. I would continue your process.
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Hello, OP. I thought if you asked for Validation, that the CA,etc. was obligated to send you one. However...whatever they send you, make sure it's not JUST a bill of a copy of something that doesn't do YOU any good.
I always tell p;eople this. Before coming here and learning so much I myself would have thought the billing copies were debt validation. I always try to ask people who stop by to stick around and join the forum. I came here for a quick question a couple years ago and when I started reading the posts I could not believe how much mis information I had on credit. There was also so many tips on how to get a good score and keep it. This is one of the best forums on the web.
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9Q3kUg I really enjoy the blog article.Thanks Again. Keep writing.