Old debt that is beyond the statue of limitation should indicate the original creditor in the initial contact letter. I think the collector does not know this information or they deliberately refuse to disclose it because they know that the debt has run it course through the CRA's for seven years. So why is it that a collector can rename themselves as the merchant because they bought an old debt and proceed to collect and to report it to the CRA's. Once your credit has taken a hit the debt collector should not be able to continually harass you for the rest of your existence. Portfolio Recovery is the culprit and they should not be able to look at your credit report and send letters to collect as if you entered into a legal and binding contract with them. Why should you reactivate an old debt that is over 16 years old. Everyone know and remember the hard patches in their lives, such as medical issues, divorces, death etc. Once the fear of being sued is removed, the chances of a collector to collect is very minute. So it becomes time consuming and it cost money to send a certified letter to ask them to validate an alleged debt. If the collector can not validate a debt then they should not continually sell and resell such debt. And there is a problem with the CRA's because it seems to me they are in cahoots with each other. If there si not any active business with a particular account on a credit report, then the CRA's should make the collector prove that a debt is valid.
MsHar
1
Old debt that is beyond the statue of limitation should indicate the original creditor in the initial contact letter. I think the collector does not know this information or they deliberately refuse to disclose it because they know that the debt has run it course through the CRA's for seven years. So why is it that a collector can rename themselves as the merchant because they bought an old debt and proceed to collect and to report it to the CRA's. Once your credit has taken a hit the debt collector should not be able to continually harass you for the rest of your existence. Portfolio Recovery is the culprit and they should not be able to look at your credit report and send letters to collect as if you entered into a legal and binding contract with them. Why should you reactivate an old debt that is over 16 years old. Everyone know and remember the hard patches in their lives, such as medical issues, divorces, death etc. Once the fear of being sued is removed, the chances of a collector to collect is very minute. So it becomes time consuming and it cost money to send a certified letter to ask them to validate an alleged debt. If the collector can not validate a debt then they should not continually sell and resell such debt. And there is a problem with the CRA's because it seems to me they are in cahoots with each other. If there si not any active business with a particular account on a credit report, then the CRA's should make the collector prove that a debt is valid.
View this comment in the discussion thread
MsHar
2
CRA's and debt collectors are in cahoots. is and not si.
View this comment in the discussion thread