Comments on: Validation Letter

By: Scott

Scott — Sun, 22 Jan 2012 04:28:15 +0000

I currently have an account open with HSBC (Best buy account). MCM is calling to collect a balance of $1,662 when my outstanding balance is less than $900 (with HSBC). However, the account #’s don’t match. My question is, is HSBC just as much responsible for the debt? Are we dealing with 2 separate accounts? Is it worth while to contact HSBC or will they be just as clueless as I?

By: janet

janet — Sat, 21 Jan 2012 00:48:18 +0000

I was served 2 summons by Fulton Friedman and Gullace one in May 2011 and June 2011. Two different creditors suing me. I responded to both as not guilty. I had going a debt settlement company 09/09. However, these cc companies did not want to settle, finally the 2nd (served in June) accepted a payment plan. I have not heard of a court date of the 1st summons served in May 2011. How long would it take for a court date.

By: Next Level Credit

Next Level Credit — Mon, 07 Nov 2011 23:40:32 +0000

Angie (we have spoken on the phone)
Thanks for your comment. You were served a summons.
You did file an Answer and next you should have a hearing. Let us know about your win!

~Next Level Credit~

By: Angie

Angie — Thu, 27 Oct 2011 17:50:09 +0000

I recently received a notice from Midland Credit Management that I was being sued. I sent a Validation of Debt letter to them and got a reply yesterday. The original account was CitiBank. They sold the account to LVNV Funding March of 2010. LVNV sold it to MCM in March of 2011. However, the VOD that I received from MCM shows they bought the debt directly from CitiBank. The letter also has several blacked out spots with the word “redacted” filling in the blanks.

For example:

“For value received and subject to the terms and conditions of the Purchase and Sale Agreement dated *****REDACTED********* between Buyer and the Bank, the Bank does hereby transfer, sell, etc to Buyer and to Buyer’s successors and assigns. ”

I asked for validation of the debt and they sent me a letter. I was hoping they wouldn’t and that would be the end of it so what do I do now?

By: Next Level Credit

Next Level Credit — Fri, 25 Feb 2011 15:22:48 +0000

Cyndie,
Thanks for your comment. No there are no laws yet. Filing a complaint is great.

If you get a letter from Asset, contact us. Sure you can sue Asset and it takes time. But you still have to play the game. Unfortunately.

You can get the judgment dismissed now and get MB off your report now that they are out of business.

~Next Level Credit~

By: Cyndie

Cyndie — Tue, 22 Feb 2011 18:47:03 +0000

Next Level Credit,

I stopped paying on a Citibank account in October 2007. Due to a late payment in May 2007, Citibank had begun charging three different interest rates – exploding the balance to an unmanageable state in matter of a couple of months. I tried to settle with Citibank through a debt resolution company to no avail!!! Citibank wanted a lump sum – period!!! By the way, I am a TEXAS resident and SOL runs out on this account in October 2011.

In Jan 2010, Asset Acceptance started calling. I told them NOT to contact me via phone again! They stopped calling. AND I have not received any documentation from AA regarding this collection attempt.

The calls have started again – February 2011. I still have NOT received any documentation in the mail regarding the account they are attempting to collect.

I pulled my credit report and the report indicates a new account was opened by Asset Acceptance December 2009 BUT the account is listed in the CLOSED section of my credit report and it has a note indicating ‘consumer disputes this account information, collection account’. The original creditor is listed as CITIBANK and ‘Date of first Delinquency – 12/2007. Balance according to AA account – $12,991!!! Balance at the time of last payment to CITIBANK was $6,379.47. OVER DOUBLE THE ORIGINAL AMOUNT!! Is there absolutely no laws preventing this kind of blatant theft and attempt to collect an inflated, bogus balance??!!!

I filed a complaint with the FTC. Who knows if it will do any good. I suspect I haven’t received any documentation because they don’t have my address. If I every receive a letter from them, I will hire a lawyer and sue these jerks!

I fell prey to Mann Brackens’ crap and ended up with a judgement! I had to scramble and borrow money from my mother who can’t retire because she can’t live off of her Social Security income to prevent a freeze on my bank account! Absolute creeps, scum of the earth! I’m so glad they are out of business. Let’s put AA out of business, as well!

Cyndie

By: Next Level Credit

Next Level Credit — Mon, 06 Dec 2010 13:05:48 +0000

Jean,
Thanks for your comment. You can go to the judge to get the judgment dismissed most likely. That may take a month or so depending on the court.

If you have any more questions and need more direction regarding Mann Bracken, please go to our ABOUT US page and sign in for a one hour session.

Getting this judgment dismissed should work due to the fact that MB is closed.

~Next Level Credit~

By: Jean Hill

Jean Hill — Fri, 03 Dec 2010 07:51:09 +0000

I have a client that is trying to sell their home. We have been delayed however because there is a signed judgement from 10/25/2007 which shows that LVNV Funding, LLC is an Assignee of Citibank and entitled to collect on a debt of $1998.67. We cannot get in touch with anyone to give us information on how this debt can be paid and a release signed. Without the release, clear title to the property cannot be given and the lender for the buyer will not allow us to close without this being released. How can we find out who to make the payment to when the name Mann Bracken is inserted as “Attorney for the Plaintiff” and this company is no longer operating? We need some answers very soon or we will lose the buyer. Thank you for any insight and help you can give.

By: Next Level Credit

Next Level Credit — Tue, 26 Oct 2010 14:48:15 +0000

Andy,
Thanks for your comment. The account is removed FROM the report in 7 years. 2007 + 7 = 2014.

Is Midland contacting you? This is not clear. If they are, you need to write a letter (see our tab on our site for VOD letter to use with instructions). The SOL starts WHEN your last payment was made to BOA. It is not clear what you are trying to do or need to do.

For more advice regarding Midland and what to do next, you can sign in for a 15 min free analysis or one hour session on our ABOUT US page.

~Next Level Credit~

By: Andy Tran

Andy Tran — Fri, 22 Oct 2010 14:54:00 +0000

Dean Next Level Credit,

My wife owe $14K debt on a BofA credit card and was handed over to Midland Credit Management. When I check my wife experian credit report it show that the last payment for BofA was made in 2/2007 and was transfer/sold. I believe this is the same account that was transfer/sold to Midland because the amount are very close but with a different account number. We live in California when this happen and move about 3 years ago to Texas. On her Experian credit report it say that this account will be remove on Jan 2014. Can I assume that Jan 2011 would be the end of my SoL? If this is not the case, is it better to send a debt validation to Midland or should we wait until the account is out of the SoL to validate the debt? Thank you very much.

Andy