Re: What's Validation???
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Posted by Linda on February 13, 2002 at 13:39:16:
In Reply to: What's Validation??? posted by Cheryl A. on February 13, 2002 at 01:11:30:
Don't inquire!! Validate mean make them provide proof that the debt is yours. Yes, you want the original contract with your signature. No, most of them can't provide it. If your debt is past the statute of limtations in your state it is legal not to pay it. It is a civil matter, not a criminal matter, unless you have committed fraud, or in many states written bad checks. If they can't provide proof they must stop all collection activity, including reporting to credit bureaus. You can usually make them remove the entry on your report (takes a big fight). Technically, the only thing they can do if they can't validate is cease collection activities, but they may still sue you. If the SOL is up, you must appear and answer them with your defense - that is that the statute of limitations is up. Then the case is dismissed. If you don't answer, they win a default judgment and that is a whole new ballgame. This is the only "loophole" actually it is the Consumer Protection Act and it is the law, not a loophole. Other than that, bankruptcy and consumer credit counseling. Settling with creditors is an option in some cases. Yours are most likely past the SOL. Linda
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