Golden Financial Services provides debt validation, settlement and credit repair example letters in the following post. It’s hard to believe that major debt collection companies in the United States are not always abiding by federal laws, and often cannot prove that they have the legal authority to collect on an alleged debt, and at times they even violate federal laws by harassing consumers illegally or by reporting inaccurate and derogatory information on a person’s credit report. There are many cases where lawsuits are flawed and inaccurate, and falsified with fake documents and testimonies. At times creditors will charge you fees that were unauthorized, or they may add for services that you never agreed to. In many circumstances, the banks will sell credit card delinquent accounts for as low as 5-cents on the dollar, since they already wrote the debt off.
If a debt collection company cannot prove that they have the legal authority to collect on a debt, or if they cannot provide a paper trail of who owns the debt and what is accurately owed, or if they cannot produce a license to collect debt in your state, do you have to pay the debt?
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Debt Validation Example Letters:
The first debt validation letter is from LTD Financial Services. (original creditor is Citibank)
The second debt validation letter/example is from Credit One Bank agreeing to stop collection on the alleged debt and remove the derogatory marks from all three credit reports.
Next we will look at a department stores debt collection account that was invalidated.
Department Stores National Bank
Chase bank is the original creditor on the next account that was sold to a collection agency and then invalidated.
Next we will take a look at an account that was originally owned by American Express, which was sold to a debt collection company and then invalidated.
Debt Settlement Letter Example:
The next debt was settled at a fraction of what was owed. The creditor is Citibank, agreeing to settle for a one time payment of $1,475.75 on a total debt with a balance of $4,216.14.