Debt validation for a series of debt collectors
A viewer recently asked about a debt that has not been validated being sold to a new company. If the debt has not been validated, is it now “bad debt”?
Auto deficiency occurs when you still owe $15,000 on a car and then that car is repossessed and sold for $5,000. Now, you get sued for the $10,000 deficiency.
A cease and desist letter is something you send to a debt collector telling them that you wish to have no more contact with them. It may also state that you refuse to pay them.
You may be familiar with the old expression, “Fool me once, shame on you. Fool me twice, shame on me.”
There is a change that has taken place in Washington over the last few years. [After this video was shot a new director is present but the point is the same that this CFPB is much different than it was before the 2016 election].
You have sent them a notice of error letter asking the company to investigate and fix the error. They don’t do it. Is it proper to sue them in this situation?