Sunday, January 30, 2005
CREDITWRENCH and estoppel
Students of CREDITWRENCH are taught that according to the FDCPA, a collection agency has 30 days to respond to a request for debt validation. And, if the collection agency fails to validate within the required 30 day timeline, the to move on to estoppel.
CREDITWRENCH is wrong on both the FDCPA's wording, and a matter of law.
- There is no requirement in the FDCPA that a collection agency respond to a validation request in 30 days.
- Estoppel has no basis in law for a collection agency's failure to provide validation, as there was no requirement that they do so in the first place.
All of CREDITWRENCH's teaching on the above are false and misleading.
