Re: Benefit of validation

Posted by LadynRed (199.91.33.254) on March 11, 2003 at 13:25:56:

In Reply to: Benefit of validation posted by BUck on March 10, 2003 at 22:38:04:

No debt ever really 'goes away'. You may, with validation, be able to get it off your credit report or force a CA to get lost. A lot depends on how far into the SOL period you are. If its expired or near to doing so, then validation may work fairly easily, as older accounts are difficult to 'prove'.

While WhyChat is right that what consists of 'proper' validation, if you've already been sued, it won't help much, but I've read many posts elsewhere where it HAS stopped a suing creditor in its tracks in the courtroom. I think a lot depends on the judge I think.

Using the FTC Wollman Staff Opinion letter (which you can find on the FTC site) and using the Spears v. Brennan case (case law), you can say what is NOT proper validation. One says that an signed contract BY ITSELF does not prove the account, and the other basically says that details of the account ALONE are NOT sufficient. So, what is typically considered proper validation is:

1- a copy of the agreement with YOUR signature on it
2 - a full accounting of all charges and payments made to an account over the life of the account which supports the balance it is claimed that you owe.

BOTH are needed, not just one or the other.

Validation does work for people, whether you've been sued or not. If you're well within the SOL though, IF a CA can actually validate, and some do, then you're usually faced with making a settlement.

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