Credit and Credit Reports
questions & answers
Question: Hi, I was wondering what my rights were and what my responsibility is. I purchased a truck in 2008 and traded in my truck I had to a dealer. the dealer was responsible for paying off the trade, they sent a check to my finance company and the finance company immediately issued a receipt pay in full and that the loan was satisfied. but the check had bounced from the dealer and the dealer went out of business. im not currently being contacted but it is showing up on my credit report.can I have this removed off my credit or can they make me try to pay this?
Answer: Within 5 days of the collector's first communication with you, they must send you a written notice containing:
The amount of the debt.
The name of the creditor to whom you owe the debt.
A statement that within 30 days after you have received the notice you can dispute the validity of the debt or any portion thereof.
A statement that if you notify them in writing within 30 days that you dispute the debt or any part of it, they will provide you with the verification of the debt. They must send you verification of the debt.
A statement that if you request it in writing within 30 days of receiving the notice, the collector will provide you with the name and address of the original creditor if it is different from the present creditor.
If you dispute the debt, send the collectors a letter stating that you don't owe the money and why. You should also send copies of receipts, canceled checks or other documentation. Keep your original documents in a safe place for future use. Send your letter within 30 days of the date you received the notice. It is best to send the letter by registered mail, return receipt requested.
Debt collectors must stop contacting you until they mail you the verification of the debt. If they are unable to verify the debt, they must stop collection procedures.
QUESTIONS
-
Hi, I was wondering what my rights were and what my responsibility is. I purchased a truck in 2008 and traded in my truck I had to a dealer. the dealer was responsible for paying off the trade, they sent a check to my finance company and the finance company immediately issued a receipt pay in full and that the loan was satisfied. but the check had bounced from the dealer and the dealer went out of business. im not currently being contacted but it is showing up on my credit report.can I have this removed off my credit or can they make me try to pay this?
STORIES
LegalLEARN
-
Free & Reduced Fees Legal Aid Resources
Click Here to apply online, or call
866-637-5341.
FIND LEGAL HELP
- Please select your county of residence below.
OTHER LEGAL RESOURCES
-
State Bar of Arizona
www.azbar.org -
Maricopa County Bar
www.maricopabar.org
Referral number 602-257-4434 -
Pima County Bar
www.pimacountybar.org
Referral number 520-623-4625 -
National Domestic Violence Hotline
800-799-7233 -
Bankruptcy Court Self Help Center
866-553-0893 -
Certified Legal Document Preparer Program
Link
ORGANIZATIONS
- Volunteer Lawyers Program - Maricopa County
View full description - Southern Arizona Legal Aid, Inc. - Casa Grande - Pinal County
View full description - Volunteer Lawyers Program - Mohave County
View full description - Arizona Fair Housing Center
View full description - Sandra Day O’Connor College of Law, Civil Litigation Clinic
View full description
Generic versions of the drug Cialis, sold as tadalafil, now available from many manufacturers.