Learn
do-it-yourself free debt settlement or let an expert debt settlement company
negotiate a huge chargeoff for you.
By
negotiating settlements, you pay less than what is owed and that can end collection agency harassment quickly.
You
should first review the pros and cons of negotiating settlements.
One
reason to let a settlement company negotiate on your behalf, is because a
professional debt settlement company is experienced in negotiating and may be
able to get you higher chargeoff amounts.
Your Name
Your Street Address
Your City, State Zip
Creditor/Collector Name
Street Address
City, State Zip
Date: _ _ _ _ _ _ _ _ _ _
Re: Acct # _ _ _ _ _ _ _ _ _
To Whom It May Concern:
This letter is being sent to you in response to a notice sent to me on _ _ _ _ _
_ _ _ _ _. Be advised that this is not a refusal to pay, but a notice sent
pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (b)
that your claim is disputed and validation is requested.
This is NOT a request for "verification" or proof of my mailing
address, but a request for VALIDATION made pursuant to the above named Title and
Section. I respectfully request that your offices provide me with competent
evidence that I have any legal obligation to pay you.
Please provide me with the following:
- What the money you say I owe is for;
- Explain and show me how you calculated what you say I owe;
- Provide me with copies of any papers that show I agreed to pay what you say I
owe;
- Provide a verification or copy of any judgment if applicable;
- Identify the original creditor;
- Prove the Statute of Limitations has not expired on this account
- Show me that you are licensed to collect in my state
- Provide me with your license numbers and Registered Agent
At this time I will also inform you that if your offices have reported
invalidated information to any of the 3 major Credit Bureau’s (Equifax,
Experian or TransUnion) this action might constitute fraud under both Federal
and State Laws. Due to this fact, if any negative mark is found on any of my
credit reports by your company or the company that you represent I will not
hesitate in bringing legal action against you for the following:
* Violation of the Fair Credit Reporting Act
* Violation of the Fair Debt Collection Practices Act
* Defamation of Character
If your offices are able to provide the proper documentation as requested in the
following Declaration, I will require at least 30 days to investigate this
information and during such time all collection activity must cease and desist.
Also during this validation period, if any action is taken which could be
considered detrimental to any of my credit reports, I will consult with my legal
counsel for suit. This includes any listing any information to a credit
reporting repository that could be inaccurate or invalidated or verifying an
account as accurate when in fact there is no provided proof that it is.
If your offices fail to respond to this validation request within 30 days from
the date of your receipt, all references to this account must be deleted and
completely removed from my credit file and a copy of such deletion request shall
be sent to me immediately.
I would also like to request, in writing, that no telephone contact be made by
your offices to my home or to my place of employment. If your offices attempt
telephone communication with me, including but not limited to computer generated
calls and calls or correspondence sent to or with any third parties, it will be
considered harassment and I will have no choice but to file suit. All future
communications with me MUST be done in writing and sent to the address noted in
this letter by USPS.
It would be advisable that you assure that your records are in order before I am
forced to take legal action. This is an attempt to correct your records, any
information obtained shall be used for that purpose.
Best Regards,
Your Signature
Your Printed Name =============================================================
Feb 5, Wage garnishment. What can I do? Quick click loans just won a judgement against me and got a wage garishment granted. I do not want to file bankruptcy but I can't afford to pay them 25%
Feb 5, Medical bills for someone else I keep receiving medical bills and collection notices for an elder in a nursing home on Medicaid. ( some of the bills are comming from the nursin home
Feb 5, Getting calls about Sons debts What do I say to a collector when they call about my Sons debts? How much information should I give them, if any? I don't want to get involved. Thank
Feb 4, collection bureau of the hudson valley they wont stop calling my house even after i told them not too numerous times. they keep saying oh well it must be different people calling for the same
Feb 4, portfolio recovery The company (based in Virginia) has been harrassing me for the past 7+ yrs for a debt incurred in 199?. Despite repeated requests to furnish me with details
After I made a late payment on my credit card, the bank notified me that it intends to raise my interest rate. Can the bank do that?
It depends. If your payment is more than 60 days late, the bank can raise your rate as long as it gives you a notice in writing 45 days in advance of the increase. The increase can be applied to your existing balances and new transactions.
If your payment was less than 60 days late, whether the bank can raise your rate depends on when you opened your account.
If you opened your account on or after February 22, 2010, the bank cannot increase your rate for making a late payment during the first year after the account was opened. After the first year, it can increase your rate if it gives you a written notice 45 days in advance of the increase. The increase will only apply to transactions that occurred more than 14 days after the notice was provided.
If you opened your account before February 22, 2010, even if the account has been open less than a year, the bank can increase your rate for making a late payment, but it must give you a written notice 45 days in advance of the increase. The increase will only apply to transactions that occurred more than 14 days after the notice was provided.
The bank raised my interest rate because I made a late credit card payment on an account with another bank. Can the bank do this?
It depends on when you opened your account.
If you opened your account on or after February 22, 2010, the bank cannot increase your rate for making a late payment to another bank during the first year after the account was opened. After the first year, it can increase your rate if it gives you a written notice 45 days in advance of the increase. The increase will only apply to transactions that occurred more than 14 days after the notice was provided.
If you opened your account before February 22, 2010, even if the account has been open less than a year, the bank can increase your rate for making a late payment to another bank, but it must give you a written notice 45 days in advance of the increase. The increase will only apply to transactions that occurred more than 14 days after the notice was provided.
Be sure to review your account agreement, which is the contract governing your credit card account. It provides information on changes that may occur to your account.
Does the bank have to give me advance notice of changes to my line of credit?
Yes, in many cases. If you have a line of credit that is not secured by real estate, the bank must provide a written notice to each affected consumer when:
* there are changes to terms that are required to be disclosed up front (such as rates and many fees), or
* the required minimum payment is increased.
The notice must be mailed or delivered at least 45 days before the effective date of the change.
However, there are some cases when the advance notice requirement does not apply. If you agreed to the change, the bank does not have to provide advance notice, but it must provide notice before the change becomes effective.
Also, there are some cases when no notice is required. For example, if you have a variable rate that is tied to an index and the index goes up, the bank does not have to provide you a notice of the increased rate. The bank also does not have to provide you notice if your rate is increasing because a promotional rate no longer applies, and the bank already gave you information about the terms of the promotion. Additionally, the bank does not have to provide you notice if it closes your account, suspends your credit privileges, or reduces your credit line. The bank does have to provide you a 45-day notice before it imposes a fee or penalty because you exceeded a new, lower credit limit.
Be sure to review your account agreement, which is the contract governing your account. It provides information on changes that may occur to your account.
Can I reject a change to my line of credit? The Truth in Lending regulations do not require the bank to provide you with this option. However, the bank may give you this option for other reasons. If the bank tells you that you may opt out of a change, and you wish to do so, you should follow the instructions in the notice you receive.
Be sure to review your account agreement. It will provide information on changes to your account.
Does the credit card billing cycle have to be 30 days? No, but the payment due date for your credit card bill must be the same day of the month for each billing cycle.
For more information, review the account agreement you received when you opened the account or contact your credit card company.
