Should my wife pay off the debt to the collection agency?

My wife got a letter from a collection agency. They have bought my wife’s account from book club. My wife has indeed opened an account in the book club. The debt amount is $450. My wife can pay the amount. However, she simply refuses to pay off the debt. The debt has not been validated. There is no word about validation in the letter. Should my wife pay off the debt? Will her credit score drop if she doesn’t pay off the debt?

4 Answers

The following link will help your wife to write a debt validation letter: http://www.debtconsolidationcare.com/letters/sample6.html
 


Marvel - It has not yet been 30 days. I will ask my wife to send a debt validation letter. Can you please tell me what should she write in the letter? 


The original creditor has the right to report the debt so if they choose to do so, it will drop her credit score.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

Did she send a debt validation letter to the collection agency? How many days has it been when the letter was first received? If it has still not been 30 days, she can send a validation letter to the CA through CMRRR. If the CA fails to validate the debt, she can check the credit report and if its listed over there, can go on with disputing it with the credit bureaus.


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