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The workshop participants included representatives of the FTC, CFPB, state regulators, consumer protection attorneys, junk debt buyers, and original creditors.There was a lot of information that was shared in these videos.One, if they feel that you are uncollectable, they may not find it personally beneficial to bother with validating the account.The characteristics that define the most “collectable” accounts to a junk debt buyer or collection agency are accounts where they have confirmed any of the following: your place of employment, open checking or savings account, home ownership, paid or settled charge-offs on credit reports, and high credit and collection scores.However, you may want to read this article so you may educate yourself for the future.I recently spent a little over 7 hours watching the videos produced by the FTC covering their recent debt collection workshop that took place on June 6th, 2013.There are ways to accomplish this without exposing yourself to the risks that are associated with formally requesting validation on a valid debt.

The collection agency or junk debt buyer can respond to a validation request years later.It is very important that you understand the potential reactions that are created when sending a debt validation letter on “valid” debts.If you feel your debt isn’t valid, and this information doesn’t apply to you, then you should send a Debt Validation Letter.If you are debating requesting validation on a credit card debt, make sure to note that the FTC report did state: “debt buyers were significantly less likely to report verification of disputed medical, telecommunications, and utility debt, as compared to verification of credit card debt.” The time for acquisition generally varies as well.Based on my experience, its range can be from anywhere from a few days to possibly as long as 6 months, and sometimes longer.

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