Books

  • Jeff Michael: Repair Your Credit and Knock Out Your Debt

    Jeff Michael: Repair Your Credit and Knock Out Your Debt
    I highly recommend this book because I wrote it.

  • Edie Milligan: Tips from the Top: Targeted Advice from America's Top Money Minds

    Edie Milligan: Tips from the Top: Targeted Advice from America's Top Money Minds
    I have about a dozen entries in this book.


  • DISCLAIMER: The opinions presented on this weblog are solely those of its author, and do not represent the opinions of my employer or clients. I cannot guarantee that the materials presented on this site will be error-free, or that any errors will be corrected. I make no representations as to the accuracy, correctness, or reliability of the information presented here; this site reflects only the personal opinions of its author and is for entertainment purposes only. * Further, this site is not responsible for any comments left in response to weblog posts, and we neither endorse nor guarantee any content contained therein, nor do we endorse any materials, websites, or services linked to in comments left by blog readers. I reserve the right to remove comments at will, but accept no obligation to do so.

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« Meet Leslie Linfield | Main | Junk Debt Buyers' tactics »

Comments

How do you ever get the collection letters to stop? I send the typical letter that I copied off of the internet and I send it Certified, etc. But they just pass me along to one of their other companies next month and it starts all over again.

Good question, Rebecca. I don't know if there's a way to make it go away once and for all... if there's an account to be traded from one collector to another, there will always be someone willing to send collection letters regarding it.

If they are calling you on the phone, then a FDCPA complaint might be in order, but if they're just sending letters (and there's nothing on the outside of the envelope that indicates it's a collection letter), I'm not sure what the next move is. You could try filing a complaint with the FTC anyway:
http://www.ftc.gov/ftc/consumer.htm

There is one sure fire way to keep collectors off you back. When you borrow money PAY IT BACK!!! It doesn't matter if a debt is 50 years old if your still alive you still owe it!!!

Chris, did you notice in my post that I was talking about invalid debts and debts that were the result of identity theft? The point is that Junk Debt Buyers are indiscriminate, and they don't care if the debt is valid, if they've got the right debtor, or whether they follow the laws when trying to collect a debt.

The fact is, if you are contacted about a very old debt and you "PAY IT BACK!!!", you're just inviting a lot of grief and ruin to your life and your credit report. Junk Debt Buyers are monsters; they deserve to be treated as such. They'll take advantage of any good-faith effort you make to satisfy old debts with them and destroy you with it. DO NOT LET THEM.

I am in the middle of proving my 'debt" situation is identity theft. I was contacted by a "junk " collector, (Midland Credit Management) and they say I owe thousands of dollars on an account I had no idea was in my name. Someone used my name and soc. security # to open a Pacific Bell account in CA and I live in MI. I have proof of my residence at the time it's just hard to put it all together and present it as such. I want these Junk collectors to go to H$$7.
Thanks for listening.

All I can say is WOW! Like we don't have enough to worry about, now we have to wonder if the debt is legitimate. I'm wondering if you might provide some guidance as to how to determine if the account is legitimate. Our problem is this: my boyfriend thought he was debt free until $11,000 showed on his credit report from 2002. After calling the "collection" agency, they claim it was opened in 2000 & have been communicating with him via mailings to an address pre-2000. They are unable to provide him with any proof from the original creditor because they purchased it from Direct Merchant 2003 for $5300 & supposedly that creditor disposed of all records. How do we go about getting credit card statements to prove this is his debt, or does the credit bureau deal with this when he disputes the debt? How do we know if this is a junk-debt purchaser trying to get $ they're not entitled to? Thank you for any information. (this whole situation is so frustrating!)

I have been sued by an attorney's office who are known ''debt buyers''. I was so tramatized by this, I was thinking some terrible thoughts and was willing to do anything to make it go away. now that I have had time to think about it clearly, I'm wondering if I took the best route agreeing to settle out of court. I haven't signed anything yet. As I said I just wanted to make it go away and was so frightened of the prospect of being sued, I had to do something. The attorney office would not call me back until I called the extremely upset and hysterical and saying i was calling as attorney. Any comments or help would be appreciated.

Margie
I'm new at this blogging thing> You haven't given much info as to the age of the debt or the amount. I don't know how to tell you to get a hold of me but, I would like to ask you some questions before you sign anything. If the debt has been sold to this attorney the debt will be hard to prove, Contact me if the author will let you

Our townhouse was forclosed on and the bank sold it. The balance of the loan was sold to a debt collector. ($68000.00) We have been getting harrasing phone calls from the debt collector. they stoped for a wile and started back up again. What can we do? And as far as pay the debt collector should we?

Junk debt buyers are the worst form of human being. They should be waterboarded!

The ultimate weapon that makes that makes a junk debt collector cry is VALIDATION Letter.

Ask the scumbug to Validate the debt persuant to the FDCPA. Here is a good Validation letter:
============================
Your Name
Address
City, State Zip

Junk Debt Buyers Name
Address
City, State Zip

Date

Re: Acct # xxxxxx

To whom it may concern,

This letter is being sent to you in response to a notice sent to me on (date). Be advised that this is not a refusal to pay, but a notice sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (b) that your claim is disputed and validation is requested.

This is NOT a request for “verification” or proof of my mailing address, but a request for VALIDATION made pursuant to the above named Title and Section. I respectfully request that your offices provide me with competent evidence that I have any legal obligation to pay you.

Please provide me with the following:

• What the money you say I owe is for;
•Explain and show me how you calculated what you say I owe;
•Provide me with copies of any papers that show I agreed to pay what you say I owe;
•Provide a verification or copy of any judgment if applicable;
•Identify the original creditor;
•Provide me with contract of said account with my original signature.
•Provide me with complete billing and payment history.
•Prove the Statute of Limitations has not expired on this account
•Show me that you are licensed to collect in my state
•Provide me with your license numbers and Registered Agent

If your offices are able to provide the proper documentation as requested in the following Declaration, I will require at least 30 days to investigate this information and during such time all collection activity must cease and desist.

If your offices fail to respond to this validation request within 30 days from the date of your receipt, all references to this account must be deleted and completely removed from my credit file and a copy of such deletion request shall be sent to me immediately.

You should also be aware that reporting such invalidated information to major credit bureaus might constitute defamation of character, as the negative marks on my credit report harm my credit and prevent me from enjoying all the benefits of good credit. In addition, until you provide me with proper validation of this debt, you are not allowed to pursue any collection activities, including reporting this information on my credit report. I’m sure your legal staff will agree that non-compliance with this request could put your company in serious legal trouble with the FTC and other state or federal agencies.

I would also like to request, in writing, that no telephone contact be made by your offices to my home or to my place of employment. If your offices attempt telephone communication with me, including but not limited to computer generated calls and calls or correspondence sent to or with any third parties, it will be considered harassment and I will have no choice but to file suit. All future communications with me MUST be done in writing and sent to the address noted in this letter by USPS.

It would be advisable that you assure that your records are in order before I am forced to take legal action. This is an attempt to correct your records, any information obtained shall be used for that purpose.

Best Regards,

(Your Signature)

Your Name


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