I just got a letter in the mail stating that I owe $7,000 in a secure debt from a line of credit from a business that I was the guarantor & I must respond by the 29th before future action is taken. The company did buy the debt from the original creditor.
My question is how would I send them a debt validation letter? I found one online @ http://usacreditlawyer.com/debt-collection/rights/Sample-Debt-Validation-Letter.pdf
Would that be sufficient enough? also, how would I send it to them by email or certified mail?
The FDCPA only applies to consumer debts, not business debts. Debt validation letters general serve as a delay tactic and are not worth much else. In the case of a business debt that you seem to admit owing, it would be a waste of time.
First, the firm is a debt relief agency according to the U.S. Bankruptcy Code. We help people file for bankruptcy. We also do other stuff and we do it well, but Congress wants me to post this notice. Second, nothing on this site is legal advice. You are not my client unless you enter into a written agreement signed by you and me.
A debt validiation letter is a useless exercise and does not apply to business debt. Depending on your overall financial situation, Bankruptcy may be right for you. An experienced IA Bankruptcy attorney will be able to determine which type of Bankruptcy is the correct one for you. Use AVVO's Find a Lawyer tool to select a qualified attorney. Good luck. THIS IS NOT LEGAL ADVICE! YOU NEED TO SPEAK TO AN ATTORNEY WHO IS LICENSED IN YOUR STATE FOR LEGAL ADVICE. This is merely suggestions for you to think about in discussing your situation with the local attorney.
If you found this Answer helpful, please mark it as "Best Answer" Please be advised that the answer above is only general in nature cannot be construed as legal advice, given that not enough facts are known. It is your responsibility to retain a lawyer to analyze the facts specific to your particular situation in order to give you specific advice. Specific answers will require cognizance of all pertinent facts about your case. Any answers offered on Avvo are of a general nature only, and are not meant to create an attorney-client relationship.
If this is a business debt, it is not likely the Fair Debt Collection Practices Act applies. The debt collector probably used this language out of an abundance of caution. Most of us are reluctant to click links in questions, so it might be difficult to get an opinion regarding the appropriateness of the letter. You may have other defenses depending on the circumstances. You should speak with a business law attorney in your area to determine the best course of action.
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