Re: QUESTION
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Posted by statutereader
(207.179.105.174) on January 14, 2003 at 10:34:16:
In Reply to: QUESTION posted by life on January 14, 2003 at 00:39:51:
§ 810. Multiple debts [15 USC 1692h] "If any consumer owes multiple debts and makes any single payment to any debt collector with respect to such debts, such debt collector may not apply such payment to any debt which is disputed by the consumer and, where applicable, shall apply such payment in accordance with the consumer's directions." If I'm reading this statute correctly, this applies to multiple debts in which a single CA holds (as in your case here), BUT refers to any debt that is being disputed. For example, if you were disputing the amounts owed on the first two debts, then NO MONEY could be applied to those accounts. So, be it the same with the other accounts held, if you were disputing any dollar amount owed then your payments would not be applied to those latter accounts. In the case here, you have several accounts being held by the same CA, in which you have not stated that are in DISPUTE. Therefor, the CA could apply the payments you are making to the older accounts first. The second part of this statute reads, WHERE APPLICABLE. If you have no documented or written record of having an AGREEMENT (meaning it was mutual) with them that they would apply your payments to the NEWER accts first, then your request is just that- a mere request, that they can either honor or not beause in your situation the CA has not given you the discretion as to where you say the payments go. I wouldn't be so concerned about the 7yr drop off period when dealing with CAs, because in the turn of a minute or day they can sell and resell your account, which is probably what would happen anyway, once they realize that they are nearing the 7 yr drop off period and the new CA will restart the clock again. Its my best advice to try and settle these accts with the stipulation that if you were to pay these accounts off that they would remove their entry from your CR.
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