Imagine your Credit Card Company suing you? Now picture them suing you without the right documents?
You may ask, ‘Does this really happen”. Yes, it does more often than you’d guess. CreditCards.com reports a rise in Credit Card Debt law suits in California, Nevada and Florida.
What you may find startling is that often the law suits are filed even though the Plantiff (Credit Card Company) lacks the proper documentation to file suit.
The problem, according to Judges, started years ago. Creditors have not been keeping records properly. When the Debt is assigned to a Debt Collector, those faulty documents are the only thing that the collectors have.
The good news is that many Judges are catching on to these faulty records and forcing the Debt Collectors to go back and gather the proper documents.
That is why it is so important to “Validate” the Debt (in question)
Often while negotiating Debt for clients, I realized that the Debt Collectors have added extra fee’s and interest to the accounts. This is an unfair practice but just because it is unfair does not mean that it does not happen.
Validating the debt can save Debtors a lot of money and time. By validating the debt you (the Debtor) forces the collector to ‘prove’ that they have the right to collect or sue for the debt. Validating the debt (if done correctly) can also stop the harassing calls by collectors.
Also, many States in the U.S. forbid Debt Collectors from continuing collection efforts until after they have Validated the debt.
In a related story, Roger Benson filed a lawsuit March 23 in St. Clair County Circuit Court against Cavalry Portfolio Services LLC and Cavalry SPV I LLC.
Benson says he received a letter from Cavalry Portfolio Services in November 2010. They demanded nearly $6,300 for a debt. In January 2011, Mr. Benson claims he wrote a letter to Cavalry disputing the debt, and asking for validation of the alleged debt and demanding they stop contacting him.
A few days later Mr. Benson received another letter from Calvary, but it wasn’t a Validation or verification. It was another collection notice. So, Mr. Benson is now suing Calvary Portfolio.
We are not suggesting that you sue every Debt Collector, but we are saying that you have the right to sue. But it requires that you have the proper documentation on your side. Debt Validation is the best way to get the proper documentation.
In Operation One: “Stop Debt Collector Harassment” Debt Warriors take you step-by-step through the process of Debt Validation. Sure, there are other sources that offer information on Debt Validation, but those sources don’t inform you about the tricks and traps that Collectors use to defy your attempts to validate the debt.
To learn more about Operation One, check out the Debt Warriors Arsenal (video course).
www.DEBTWARRIORS.com 