2 companies collecting on a debt?

Question

I have two different companies calling me regarding the same debt. I was told two different agenices couldn't do this. Where can i find more info regarding this to make them stop. Niether of them are the first company I told the loan with.

I also don't know who to pay. They are both telling me not to speak with the other company

Answer 1

If you are speaking to them on the phone - stop !!
Only deal with them by mail and send everything certified mail return receipt. Create a papertrail to protect your rights, for any complaints you may file with the BBB, FTC, yours and their AG's and for legal action should you need to go that route (or if they should)

Order your reports and see if one or both are reporting.

Send both collection agencies debt validation letters. Make them prove which one actually has the right to collect, that the amount the are trying to collect is an accurate amount, that they are licensed and/or bonded in your state if your state requires it, and that you are still within the collecting SOL for your state.

If one or both are reporting on your credit reports, after you receive the green card back from the certified mailing of your validation request, file disputes with the CRA's.

Check the SOL for your state - see if you are still within SOL for collecting or if you had passed it.
If you are past the collecting SOL, you have the legal right to inform the collection agency that the debt is no longer legally collectible (and that basically tells them to take a hike)

If you had requested validation within the first 30 days from receiving their first dunning letter (or call), they would have 30+5 days to respond to your validation request (the 5 days is for mailing time) If they don't they have to stop collection activities until they provide it.

Since it sounds like you have been dealing with them for awhile(?), I'm just guessing that you are past the first 30 day time frame.

That said, a collection agency does not have to respond to a validation request (made after the first 30 days), but by you sending one you are covering your bases in showing that you are trying to deal with this (makes it look good to a judge) and helps if you file complaints against them.

You would still have to give them the 30+5 days, from the date they signed the green card, to respond to your request before you send anything else.
If you are past the collecting SOL, send them a SOL letter after the 35 days or after they respond to your validation request - whichever comes first.

If you are still within SOL and you want to pay, make sure that they "properly" validate before you send anything concerning payment.
If they don't properly validate or don't respond at all, send another validation request after you receive a response or the 35 days have passed.

When you find out which one has the actual right to collect - for the one that does not have the right - file complaints with the BBB, FTC, yours and their AG's.

When you receive proper validation from the correct collection agency, you are still within SOL and you want to pay, send them a pay for delete letter (if they are reporting) and request that they accept a portion of the debt as payment in full and they will remove anything they have placed on your reports upon payment (or not start reporting if they are currently not)

Make sure that you have a "written" agreement with them. Do not pay by personal check, use a money order or certified check.

I would suggest that you click on my profile and read through some of the links I have listed - to the FDCPA, FCRA, the
one to find you states SOL, etc., etc.

Learn your rights and learn how to use them

Answer 2

there's a 7 365 days shrink to maximum collections - yet it somewhat is 7 years out of your final charge. So, in case you do no longer pay for six yrs, and then make a million charge, the time starts off throughout lower back. First, you are able to positioned the agency it somewhat is asking you "on observe" and tell them which you do no longer prefer to acquire any further telephone calls, all correspondence ought to be via mail. do in no way provide every person any guidance on your self, regardless of in case you think of it may be respectable. Secondly, if that is been extra desirable than 7 years by using fact the debt exchange into incurred, odds are you do no longer owe the money any further. except it exchange into any form of an academic rate (training, classification fees, pupil loans, and so on...) those have no time limitations. examine such as your state, as each and each state has diverse regulations with regard to the statute of limitations on sequence for countless forms of debt. Odds are, that a sparkling agency "offered" some previous money owed to objective to collect, and your's is between them. that is not any longer unusual for sequence companies to purchase unpaid money owed in hopes that a sparkling touch could make you pay. whilst they call lower back, tell them which you fairly prefer data of the purchases and information as to who they are and how they got here to have your guidance. Legally, they might desire to provide you such guidance. given which you have a letter - and that i desire you saved it - from the financial organization pointing out which you do no longer owe them something, once you get their mailing handle, deliver them a replica of that letter, pointing out that in the event that they proceed, you will evaluate this harrassment and additionally you will touch the state government. What they are doing is considered unlawful, and can carry hefty fines. desire this facilitates

Answer 3

I'd go to the original debtor to either pay them directly (I think you can refuse to go through collector, not sure) or find out from them who they sold your debt to. Don't pay anyone without finding out, though!

Answer 4

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