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First of all, THANK YOU to the helpful folks who have been answering my questions - both those that I have posted, and all of the other forum members' questions which have turned into such a wonderful resource...

I have several "basic" Debt Verification questions that I'm hoping someone will share knowledge about...
(I'm in West Virginia, in the event anyone has any WV debt experiences / knowledge to share...)

I see it written that a consumer has only thirty days to file a Debt Verification Demand / Request. An attorney I spoke to recently (NOT a debt attorney) seemed to think that I could submit such requests after the 30 day time frame, and basically expect a response or for the Debt Verification process to proceed, despite the 30 day time period having passed.
Has anyone actually tried this? If so, did you have any success?

If the 30 days has passed, and you can NOT legitimately proceed, what can you do? Must you wait and "hope" that the debt is resold or transferred so that you receive a "new" debt / collection notice, then respond to THAT ONE within the 30 day time frame?

Is there any point in requesting validation of debts that a person suspects or knows are legitimate, once they have gone into collections?
(...or might this "wake up" collectors who have filed to sue / fully harass you?)

Once a creditor sues you, is there any point in requesting validation of the debt? (if the debt is / probably is legitimate)
If so, should you do that separately and immediately, or as part of the answer to the lawsuit summons?
Should any validation requests go to the creditor or the attorney for the creditor or both?

When you request validation of a debt that has been sold repeatedly, do you request validation only from the last / current "debt owner", or from everyone in the chain of debt ownership?

Any and all guidance in these areas will be immensely appreciated...

THANKS - notyour




Quote:
seemed to think that I could submit such requests after the 30 day time frame, and basically expect a response or for the Debt Verification process to proceed, despite the 30 day time period having passed.
Has anyone actually tried this? If so, did you have any success?


The fdcpa allows a consumer to dispute a debt w/in 30 days of receiving the CA's initial dunning letter. Not disputing a debt w/in that 30 day timeframe is not an admission of the debt. A timely debt validation request will cease collection efforts until the debt is validated. You can dispute at any time but outside that 30 day window, collection efforts do not have to stop. Timely or untimely, the CA has no time limit to respond to a DV request. If the debt is sold to a JDB or moved to another CA, then the 30 day timely dispute window is open again.


Quote:
Is there any point in requesting validation of debts that a person suspects or knows are legitimate, once they have gone into collections?
(...or might this "wake up" collectors who have filed to sue / fully harass you?)


If the debt is still w/in your states SOL and significant, it can, and from personal experience it does, bring you to the top of the list. Sometimes it's best to let sleeping dogs lie.


Quote:
Once a creditor sues you, is there any point in requesting validation of the debt? (if the debt is / probably is legitimate)
If so, should you do that separately and immediately, or as part of the answer to the lawsuit summons?
Should any validation requests go to the creditor or the attorney for the creditor or both?


If you have been served, a DV is pointless. Any and all information would have to be requested thru the litigation process. You would initially answer the summons/complaint and any Interrogatories, Discovery requests and requests for admissions that come with the summons and then serve the plaintiff with your own set of Interrogatories, requests for admissions and Discovery. It is the plaintiffs job to prove you are responsible for the debt not yours.

Quote:
When you request validation of a debt that has been sold repeatedly, do you request validation only from the last / current "debt owner", or from everyone in the chain of debt ownership?


In relation to credit reporting, you can request validation from a CA who is dunning you or anyone who is reporting derogatory info on your reports. There are steps you would need to follow to request verification from an OC or JDB reporting. More on that if you need it.

In relation to a suit, you request it from whoever is suing whether it's the 1st, 2nd, 3rd JDB or the OC. In the case of multiple JDB's, odds are they cannot provide valid documentation and should be fought tooth and nail. If your sued by the OC, depending on who it is, they likely have every piece of paper you ever signed (Cap1, Discover, AMEX, etc). Hope this helps. I would read up on the FDCPA and FCRA as well as WV state statutes and Rules of Civil Procedure to become familiar with it. Let us know if you have any more questions.

Sub: #1 posted on Wed, 08/06/2008 - 18:14

NASCAR_Devil NASCAR_Devil
Moderators Cum Industry Expert
(Posts: 4666 | Credits: 308.23)

FYI...here is some info on WV SOL:

WEST VIRGINIA STATE LAWS


Interest Rate: Legal:6% Judgment:10%

Statute of Limitations
Open Acct:5
Written Contract:10
Domestic Judgment:10
Foreign Judgment:10

Bad Check Laws (civil penalty): Amount due, service charge up to $10. If check is under $500.00 = misdemeanor. Over $500.00 = felony.

General Garnishment Exemptions: See West Va code 38-5A-3- Employees withhold 20% of disposable income or 30x the minimum hourly rate, whichever is less. Other exemptions apply.

Sub: #2 posted on Wed, 08/06/2008 - 18:15

NASCAR_Devil NASCAR_Devil
Moderators Cum Industry Expert
(Posts: 4666 | Credits: 308.23)

THANK YOU, nascardevil, for all of the info and insights!

I appreciate your concise and straight forward answers.

I am particularly grateful for the advice to "let sleeping dogs lie" - I have seen so many folks advocate "demanding DV from everyone", that I could have easily gotten excited and stepped directly into another fine pile....
The LAST thing I need right now is to invite new and improved trouble...

Better understanding the issues I raised in reference to the "30 days to request verification" is a blessing, also...
...Now I just need to begin making my decisions as to whether to try to get validation from collectors immediately, and forgo the temporary relief of the pause in collection activities (on accounts which I did not respond / demand debt verification within the 30 day time frame), or to wait for a new debt buyer to acquire the debts, and respond immediately with my demand for verification...

Is there any "usual" amount of time that a collector will hang on to a debt before trying to off-load it to another collector?
(I haven't answered my phone for nearly a year, so I suspect that some of them will be tiring of never getting to chastise and rebuke me, soon...)

Once debts are sold, can the OC still try to collect a debt, if you get later CAs for that same debt to delete the entry from your credit report, due to inability to validate - or - is it a case where once they sold or transferred the debt, they have no further claims on the account?
(As nearly as I have been able to decrypt so far, I think that a couple of debts have changed hands at least three times...)

As for my lawsuit question - unfortunately, I have just been served by the OC (CitiBank - for a CitiBusiness card debt), on a substantial debt that I simply stopped paying on last fall.
Interestingly enough, however, when I got my credit reports in May:TransUnion shows one "regular inquiry" from them in April, but no collection or delinquency entries; Experian shows NO mention of them, at all; my annual "all three reports" summary from AmEx shows NO mention of them (I'm waiting for EquiFax to accept my proof of identity and address before they will send me thier version of my report...)
I'm not sure what this might mean, if anything...(unfortunately, I don't have any prior reports to refer to to see if they were on there, previously...)

Since this "simple thank you note" has turned into ANOTHER set of questions, I have one more profoundly stupid one: What does JDB actually stand for ? (I have had fun speculating, but doubt any JDBs would want the titles I fabricated - "Junk Debt Buyer" is the kindset possibility I came up with...lol)

Eternal Gratitude, nascardevil - notyour

Sub: #3 posted on Thu, 08/07/2008 - 08:56

Unregistered


Quote:
Is there any "usual" amount of time that a collector will hang on to a debt before trying to off-load it to another collector?


Depends on if the OC still owns it or not. CA's tend to go for the low-hanging fruit first. They call and say you owe....and you pay. If you DV, they more often than not send it back to the OC because they don't want the hassle. 6-9 months max in my experience.

If a JDB (Junk Debt Buyer - you were right on that!) owns it, they may hang on to it until SOL expires and farm it out to various CA's then sell it down the line to the next JDB. There are markets out there for 3rd and 4th palcements on out of statute debts. If you're lucky enough to get to that point w/o being sued, they will still poison your credit reports for the full 7.5 years.


Quote:
Once debts are sold, can the OC still try to collect a debt, if you get later CAs for that same debt to delete the entry from your credit report, due to inability to validate - or - is it a case where once they sold or transferred the debt, they have no further claims on the account?


Once the OC sells to a JDB, their tradeline should show a $0 balance with a "sold to another lender" notation. Once you're to that point, the OC is out of the picture (except they can report for the full 7.5 years) If you know the debt has been sold but they do not show a $0 balance you can dispute and sometimes win a deletion but personal experience, it can backfire on you, they verify and it looks more recent. My FICO took an 85 point nose-dive.


As for your litigation issue, was this connected to a business? Did you personally guarantee this account? Unfortunately, the fdcpa does not cover business debt. The FCRA does apply if it shows on your reports though. You received a summons? What else came with it? Is it Citi or a JDB suing? You're still well w/in statute for WV so on this one you might have to speak to someone more versed in WV statutes. I have already suggested 1 source for you. Hope this helped. :twisted:

Sub: #4 posted on Sat, 08/09/2008 - 00:34

NASCAR_Devil NASCAR_Devil
Moderators Cum Industry Expert
(Posts: 4666 | Credits: 308.23)

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