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Collections Law/Credit Validation

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Expert: - 9/11/2010


Question
Hello. I am located in Colorado. I recently received a letter from an attorney representing P&B Capital Group, LLC (which was also listed as the original creditor. The response that I received from the atty office was various dated monthly statements from WaMu and nothing more. Is this enough to validate? Shouldn't a signed agreement have been included? And isn't the fact that P&B Capital was listed as the original creditor, be considered a false statement? Thank you for your time and expertise. Nelda

Answer
It does not sound like they have sent you enough information.  It also sounds like P&B Capitol is a debt purchaser.  They are required to provide you proof of the debt, which could be a copy of the agreement or the statements you received.  They have not violated any laws that I know of since the FTC has not defined what is considered as "validation".  My best advice to you is to settle the debt for a lesser amount than owed unless you dispute the fact that this is indeed your bill.  I would offer half.

I hope you have found this information helpful.

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Ray A Miller

Expertise

I am qualified to answer questions on the following subjects: FDCPA, FCRA and HIPAA as well as medical collections, general collections and collection agency related issues. I trained these subjects at a nationwide collection agency and customer service call center and audited around 150 representatives for compliance to the laws. I have been in the Collections Industry for over 30 years. I feel that everyone deserves to be treated fairly and with compassion and that is the way I trained collectors. Even though I worked for a Collection Agency, I get great satisfaction in helping those who have been mistreated or in need of help with these confusing issues.

Experience

I was the Compliance Administrator with a nationwide collection agency and customer service call center-I have trained hundreds of collectors on the above referenced topics. I have been in the medical collections industry for over twenty years and research these topics on a daily basis.

Organizations
ACA International

Education/Credentials
Some college ACA Certified Collection Specialist

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