The Account Is CLOSED But No Debt Collectors Have Contacted - What Next?
If 90+ days has passed and the original creditor has closed the credit account, it will immediately be sold to debt collectors. Be aware, it takes debt collectors time to initiate a collection process as they purchase "bulk debt bundles" and have a lot to sift through before starting anything on their end. If a debt collector has not reached out yet begin by sending a copy of the VERIFICATION letter to each reporting credit bureau. Either all the credit bureaus will reach out to the original creditor who will forward the bureau to the new debt owner and force the debt collector to break a few laws to "verify" the debt (thus starting the process of sending letters to the debt collectors to VALIDATE the debt) OR it will be removed from the credit reports. Win-win either way.
Can Debt Collector Contact Others About One's Debt
If one has an attorney, the FDCPA prohibits a debt collector from contacting anyone other than one's attorney. If one does not have an attorney, the debt collector may contact other people, but only for the purpose of finding out where one lives or ...
Judge Said Original Note Is Not Necessary | Verification of Debt
This is a blatant misrepresentation to keep one from exposing the truth. The Judge is in most cases using the words VALIDATION and VERIFICATION interchangeably, but they are very different in their meanings. The Chaudhry v. Gallerizzo case upheld a ...
How Is A Debt Collector Allowed to Contact Me
A debt collector may directly contact a person, or indirectly, such as by mail, telephone, telegram, e-mail or fax. Without express permission or permission granted through a court order, a debt collector may not: Contact someone at unreasonable ...
Can One Stop Debt Collectors From Contacting and Calling
Yes. If one wants all debt collection contact to stop, and it is a debt collection agency rather than the original creditor who is contacting/calling, one has the right to request that they not contact the debtor again. This request must be in ...
5 Tips for Dealing with Debt Collectors
1. Debt collectors are not allowed to call before 8 a.m. or after 9 p.m. They must also stop all calls when requested by Certified Mail. 2. Most credit card accounts have a one-time settlement rate that’s preapproved by the debt collector. It is ...