Usefulness of "Letter of Validation" for a debt?

Question

HI, this lawfirm Cohen and Slamowitz send me a letter yesterday saying they're collecting a debt on behalf of Discover. I have the money. But have also read the many lowball tactics this firm employ. I want to know if by sending a Letter of Validation will buy me more time and think about my options (becuase now they have to take time to come up with proofs that they actually are acting on behalf of Discover)? And even better, that by sending them the letter might actually deter them from pursuing me any longer? With that in mind, is sending the Validation Letter a must-do?

I just don't want to send them a Letter of Validation (w/o the cease and desist letter) and then out of nowhere get my bank account frozen, that is my worst fear.

Answer 1

Anyone can take you to court for WHATEVER REASON.

Discover will need to 'serve' you with a summons first before you appear in court. Validation Letter will buy you time, but make sure it's an effective letter!

I have posted letters on my site for free.

www.creditalignment.com

Answer 2

It is your right under the Fair Debt Collections Practices Act(FDCPA) to have the debt validated. This requires them to prove that they own the debt and that the debt is valid. This also acts as a temporary Cease and Desist letter because they are NOT allowed to contact you or take any action against you until they validate.



If they file a suit against without validating the debt, they are in violation of the FDCPA and you can sue them. So do not listen to anyone who says just because you try and validate the debt they will come after you. If they are going to come after you then sending a letter of validation will not change that.



Now, once they validate the debt they can file a suit as long as you are within the Statute of Limitations. This is the time period they have to sue you. Depending on the state this is anywhere from 2-6 years from the date of the last delinquency. Also, if they validate the debt and can sue you your bank account won't be frozen out of "nowhere". In order to do that they must file a suit against you, then get a judgement against you. Both of these you will be notified of well in advance.



If they validate the debt you are then going to have to work with them. You don't get a choice who you want to pay. Only talk to them in writting, never over the phone. In your offer be sure to request that once you pay off the account that they will remove the collection account. DO NOT send them any money until you have an agreement from them in writting of the amount to be paid and action they will take once paid.

Answer 3

Debt Guru is not an attorney. Don't listen to him. *Always* excerise your rights under the Fair Debt Collection Practices Act. That means:



Send a letter to the debt collector, via certified mail, return receipt requested and state: (1) That you dispute the validity of the debt and (2) That you request written verification of the debt.



A debt collector *CAN NOT* garnish wages, freeze bank accounts, etc. *WITHOUT* a judgement, and that can happen only after they have sued you and won. If any debt collector is threathening to garnish your wages or freeze your bank account, they are breaking numerous federal laws.



You really need to hire an attorney who has experience handling consumer debt litigation - get a referral from your local county bar association.

Answer 4

Don't send that letter. You will force their hand into litigation and it will be more of a hassle than you want in the long run.



C&S is a major collector in the US and they manage just under a billion dollars of credit card debts in arrears. They are very difficult to negotiate with and they do not like negotiators like myself or consumers challenging them at all.



One of my old clients had an account with WFNNB for 8,900 and i had cash ready to be distributed to them for about 62% of what was owed and they still fought me. I finally had to resort to having my client meet with a free bankruptcy attorney to show them that she was not scared of going bankrupt before they agreed to settle for 50% of the balance owed. They only agreed to take half if I could get some of my other clients to settle during the same month.



A validation of debt letter should only be sent when you are disputing some type of fraud. I would hate to see you spend 20 minutes on a letter only to have the creditor retaliate and take you to court.



Try and settle with them for a lesser amount. They are tough but any reasonable party should settle for half.

Answer 5

Moorcroft are a actual business enterprise; i've got had dealings with them in the previous for non fee of council tax. All i'm able to recommend is, if the telephone calls do not artwork, write a letter to the return handle enclosing the letters, state very for sure who you're and the date you moved into the handle, and submit it registered. ok, registering the letter will fee you a pair of quid, notwithstanding it gets them off your decrease back. Debt companies have have been given diverse structures they could use to confirm in case you're who you assert you're and once you moved into your place; yet they could desire to be counseled this earlier they verify in any different case they could in hassle-free terms bypass on what the business enterprise they are engaged on behalf of tells them. they can't enter your place and strip out your private residing house; as you're actually not the debtor, see you later as you are able to teach something (passport, drivers licence, something solid including your call and photograph on is terrific) they can't take something. If there is even the slightest doubt which you're actually not the debtor, they can't take your private residing house.

Answer 6

Pay your debt and stop playing games!