Debt Validation Strategy again Collection Agencies?

Question

Does it work? How often does it work?

I know that I have an account in collections and that I owe them money... One is for $43, one is for $64, and the last is for $1,349. However, I know that I can threaten to sue them if they dont reply in 30 days to wipe the bad credit based under the FDCPA rules.

So, how often does debt validation work?

Answer 1

Whoa Man!

smile4cobra, what is your problem? And a collection attorney to boot!

When did they change the laws in this country? When did "Burden of proof is on the consumer" become the way it works here? I must have slept through that lesson in school.

Last time I checked, the creditor has the burden to prove that the consumer owes a debt. That process is called "validation", or "disclosure". Seems to me (and Congress) that if you feel a debt is owed, the least you can do is prove it by supplying the consumer with proper evidence.

If it were not for the shotty work collection agents/lawyers do this step would not be necessary. Considering that a large percentage of reports filed to the credit bureau are not accurate.

If you feel you have a good case, and the debtor fails to respond to your demand letters, then sue them. Why is all the harassment necessary? In most cases, it's simply because you can't supply proper validation and you hope to intimidate the debtor into paying you something.

I've been there dude! Had collection agents try to come after me for debts that were not mine! Wouldn't supply proper proof! Ended up costing them money after I was forced to sue THEM!

So chill out, do your job, and quit harassing people.

To answer this question, the validation process is mainly intended to help people who are the victims of inaccurate or false credit reporting. It's not intended to help you avoid a debt. But it is the law, and the creditor is REQUIRED to supply proper validation information upon request.

If the creditor doesn't have it, or can't get it, then how are they possibly going to take you to court? Therefore, this process will result in the collection agent returning the debt to the original creditor, and generally will stop the collection process.

If they do respond with proper validation, you can examine it carefully for accuracy and completeness, and decide if you have a case to defend this in court if you are sued.

Answer 2

With years in the credit business:

Don't for a second that by threatening a collection agency you're going to get anywhere. These people are professional liers and thevies. Even if you are successful in your threats the best you are going to get is for the collection agency to return the debt to the original creditor. Don't expect them to cough up a dime unless you actually sue them.

I have personally been through this one time (recently) and I had to write a letter to them, copying it to the original creditor with my intent to sue (I've also helped many people with credit issues by being in the industry). I also filed a complaint with the FTC, my state's attorney general's office, and ACAinternational.org

In my case, they did not provide me verification although I requested it within the 30 days. Instead, they stuck it on my credit report.

I demanded they remove the debt and pay the $98 as damages. They removed it but did not pay it. This took two months to resolve.

Anyway, my recommendation is to pay the debt if you can. If you need more time, dispute it: "I dispute the validity of this debt and request verification of it." It will buy you another month or so.

If they don't respond, you can't do anything. However, if they don't respond but report it, then you can certainly sue.

You can read all your credit rights at www.ftc.gov --click on "consumers".

Answer 3

Well, you owe the money and you just want to stick it to a collection agency. Guess what? Its not going to happen. As have rights under the FDCPA the collection agency and the agent your dealing with and their client (the creditor) also have rights.

You may request that they validate a debt and they will take a copy of your statement and credit app., etc. and mail it to you.

What are you going to do next?

An agency doesnt have to remove anything from your credit report by law unless you have proof that you do not owe the debt. Burden of proof is on the consumer.

Here is my big question to the guy who responded to your question by saying collection agencies and agents are thiefs. Who infact is the real thief in the midst of all this when the creditor in good faith grants a person credit, the person uses it and does not want to pay back, instead they look for ways to cheat the creditor out of their rightfully owed money?

The consumer is the thief.

Additionally, keep in mind that a collection agency is bigger and bad than any consumer will ever be. For every attorney you got, they got 50 of the best, top caliber. Were talking about pro collection attorneys, big guns. Pros that make a fortune off of people like you that dont know your left from your right when it comes to the Financial Industry and law that govern the entities and yourself.

Go ahead and sue. You will be paying a minimal of $660.00 in retainment fees for counsel only. And you will be needing counsel, I guarantee you. Its not even cost effective. Unless you have proof that you can show the judge indicating that you dont actually owe the money, your case will be dismissed, you will absorb lost court costs and when the agency snaps back with a counter for waisting their time and money for a cheesy *** 50.00 lawsuit, they court will come out with an adverse decision and you can pay the agency for lost time, court costs and a nice counsel retainer fee.

Do you honestly believe that you can use up their money and yet sue them for more money as if it was their obligation to give you the money to begin with? Where does the word LOAN or BORROW come into play here? You think creditors are passing out free money? And you want the judge to grant you what??? Are you making a business out of ripping off creditors? Is that how you really want to "earn" your imcome?

Your not coming out to play in the street with some chippy with baggy pants on a bike. Your running with the big boys. Their just going to tell you to BRING IT ON.

That 50.00 or 1000.00 your talking about is big money for you aint it? Its chump change for agencies, snack money. The Agency wont even show up in the court room, their attorneys will.

Sure you have rights, but doesnt everybody? So instead of rushing up to bill collector who backed up by bigger army than you have ever seen in your life... Why dont you look at the picture from both sides and try and pretend like morals come into play and ask yourself...is what Im doing really fair?

Oh and another thing, these collectors dont know you. They are juust doing their jobs and trying to earn a buck. This is not a personally issue for them. They have a business perspective on the whole thing. For some reason the consumer always things this is a personal issue and the bill collector is out to get you.

Try and be nice to a bill collector the next time they call you, I bet you my bottom dollar, and believe me my bottom dollar doesnt short, the bill collector will be nice and attempt to assist you in settling your financial issue. They may even hook you up with a discount.

Regardless of it being a bill collector or anyone else. If you snap at someone in your house or in the street wont they snap back? And if your kind to someone, wont they be kind? Consumers got this big idea that the bill collectors are some kind of animals. heheh.

Just pay your bills.