Re: So, Debt Validation should be requested ONLY if you are OUT of SOL?

Posted by LadynRed (199.91.33.254) on March 16, 2004 at 14:45:54:

In Reply to: So, Debt Validation should be requested ONLY if you are OUT of SOL? posted by Sweetyb on March 16, 2004 at 14:31:10:

Not necessarily, no. If you know the debt is NOT yours, you suspect identity theft, or anything else that's not kosher about the alleged debt, including the amount they say you owe, then Validation is in order. The biggest danger of validation on a debt you KNOW is yours and you're not close to the end of the SOL period is that the CA WILL validate, then you have to decide how to settle or make payments.

The biggest danger is NOT the validation in itself, but in sending a complete cease and desist along with it. If the only way they can contact you is thru a lawsuit, and you owe them a LOT of money, then you could be in danger.

If you owe a relatively small amount, and the debt has been floating with CA's for a couple of years, most CA's cannot validate a debt that's been repeatedly sold, they don't have the paperwork and its too costly to sue on a small amount. Further, if you have no attachable assets, a lawsuit is even less likely.

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