Contacted by Attorney regarding charged-off account.

[Keebler]

I got my first contact today by a a well-known (sleazy) Debt Collection Law Firm for a credit card account that recently got reported as charged-off and I'm trying to decide how best to proceed.

I talked to them on the phone and told them I wouldn't give them any information until I had been notified in writing. The call was pretty civilized and they seemed willing to wait until after I had received the letter in the mail.

In the mean time I'm trying to decide if I should go the validation route with these folks or not.

I finally found out how to look up bonding information for debt collectors in the state of Texas. (Being bonded is one of the few licensing requirements for debt collection in Texas.) To my suprise, the attorney isn't listed. The closest match are collection companies located in the same building but the suite number and names are different. UPDATE: A more careful search tonight shows they are listed.

How should I best proceed? Part of me believes that I should just let them waste time knowing that I have a defense if they try to file suit against me. If I force the matter by telling them or demanding validation I'll end up showing my cards and it'll only be good for 30 days worth of delay or so. Saying nothing might be good for weeks of delay.

[jp2861]

It all depends if you're filing BK or have some other defense. Each situation requires a different plan. Not knowing your situation and what your objective is, it's hard to make a suggestion.

[emoney]

First thing I would find out is the SOL passed. Most CC companies are in states that have a long SOL. In my state Texas it is four years, but others have as long as ten years. You agree to the their venue when you sign the application.
I have found the when the contracts are drafted by the lender you can guess who they protect.
If the debt is still withing the SOL consider a payment plan or offer to settle the debt for 50% of what is owed. Get everything in writing before sending any money, and you should never give post dated checks or your banking information becasue they will clean out your accounts.
regards,
emoney