WHAT IS THE PROPER WAY TO VALIDATE A DEBT?

#1 10-25-2004, 01:17 PM

I read an article on the Internet that stated *There is case law indicating that an alleged debt can be validated by a computer printout listing payment made on the account.* This didn't sit well with me because, based on my memory, the word *valid* (adjective that describes the noun validation) means to make *Legally sufficient; binding (a valid contract)* and *Meritorious (that is a valid conclusion based on the facts presented in this case.* So how on earth can a computer printout prove the legal validity of an original loan agreement (i.e. offer, acceptance, mutual assent, and consideration or a consideration substitute)???

Anyway, do you know of any FEDERAL CASES that deal with this issue and that set forth the proper way with which a creditor must verify and validate an alleged debt?

Ice · #2 10-25-2004, 05:44 PM

See the front page for US v. Nationwide Credit and find out what happens when a collector violates the FDCPA.

[ I think you'll have to go to page 6 of the front page to find it. ]

Ice

Ice · #3 10-25-2004, 05:45 PM

That case is also available in the download section.

#4 10-25-2004, 08:54 PM

Quote:

Originally Posted by Ice

That case is also available in the download section.

OK but does that case address the proper way to verify and validate? Are the other cases out there that are similar? Can I debt get validated by a computer printout?????

Ice · #5 10-25-2004, 10:46 PM

Got a Black's handy ?

Look up "verification".

If it doesn't come to you like that -- then it isn't verification.

#6 10-26-2004, 03:30 AM

can't believe you missed this ice...

Quote:

computer printout listing [i]payment<\i>

notice the words carefully.

it ain't sayin nuthin we don't already know... plus it ain't sayin enough either. for example, is that printout showing payment after i alleged fraud?

jon

Ice · #7 10-26-2004, 10:10 AM

I'm still stuck on the definition of "verification" -- if verification doesn't fit that description then it isn't verification.

EnSabahNur · #8 10-26-2004, 10:13 AM

Here's one ICE,

I was told that I can go down to the Land Tiles office and pay to get a "CERTIFIED" copy of my mortgage. What the hell does that mean?

It still is not the original note...so how can it be a certified copy?

#9 10-26-2004, 10:17 AM

Quote:

Originally Posted by EnSabahNur

Here's one ICE,

I was told that I can go down to the Land Tiles office and pay to get a "CERTIFIED" copy of my mortgage. What the hell does that mean?

It still is not the original note...so how can it be a certified copy?

It is what it is - that is a Certified *copy* of an alleged debt instrument.

Ice · #10 10-26-2004, 10:18 AM

A copy is not good enough.

The "holder" of the note is the person that should receive payment. So you want to establish who the holder of the note is.

If you are given the runaround in regards to viewing the original note then make this statement: "Your actions lead me to believe that you are no longer the "holder" of the note, correct ? I would think that if you were the holder of the note there wouldn't be any problem with viewing it."