INSTRUCTIONS: LETTER BELOW

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1 INSTRUCTIONS: #1. When in default pull your free annual report (ONLY authorized source for the free annual credit report that's yours by law is at: Dispute every single loan (most student will probably have multiple) w/all 3 major credit bureaus. Do NOT just dispute online, or if you do so, make that only your first step. Send each credit bureau 1 form listing all disputed accounts by certified mail. Because many of the loan companies have sold off part of your loans, they will not be able to fight your dispute & will you suddenly see lots of write-offs. No, ideally you do not want these on your credit either, but from there you can either still fight the write-off (original debt) or at least the debt will start aging. #2. After you have done #1 wait the required time limit, usually about 30 days, and type up another letter, this time directly to the creditor, requesting validity of the original debt & you being the actual creditor. Send each creditor 1 form listing all disputed accounts they claim to hold listing you as the creditor by certified mail. (Certified mail is the important part, & only give all identifiable information, but do NOT sign your signature to this form.) This is kind of liking asking for 'the note/signature' on a mortgage. Again, most of these creditors have sold & re-sold your loans so many times over, some will not have this information, & if they do, this gives you all the original paper work to fight any inaccuracies. *THIS IS FORM FOR STEP #2 ONLY. I HAVE ALSO UPLOADED STEP #1FORM. Good luck! -Mandy Shea LETTER BELOW

2 YOUR NAME YOUR ADDRESS Company in Dispute THEIR ADDRESS TODAY's DATE Certified Mail No: Re: Account no. XXXX This letter is being sent to you in response to an account listing on my credit report. Be advised that this is not a refusal to pay, but a notice sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (8) that your claim is disputed and validation is requested. This is NOT a request for "verification" or proof of my mailing address, but a request for VALIDATION made pursuant to the above named Title and Section. I request that your company provide me with competent evidence that I have any legal obligation to pay you. You should also be aware that sending unsubstantiated demands for payment through the United States Mail System might constitute mail fraud under federal and state law. You may wish to consult with a competent legal adviser before your next communication with me. Your failure to satisfy this request within the requirements of the Fair Debt Collection Practices Act will be construed as your absolute waiver of any and all claims against me, and your tacit agreement to compensate me for costs and attorney fees. At this time I will also inform you that if your offices have reported invalidated information to any of the 3 major Credit Bureaus (Equifax, Experian or TransUnion) this action might constitute fraud under both Federal and State Laws. Due to this fact, if any negative mark is found on any of my credit reports by your company or the company that you represent I will not hesitate in bringing legal action against you and your client for the following: Violation of the Fair Credit Reporting Act Violation of the Fair Debt Collection Practices Act Defamation of Character If your offices are able to provide the proper documentation as requested in the following Declaration, I will require at least 30 days to investigate this information and during such time all collection activity must cease and desist. Also during this validation period, if any action is taken which could be considered detrimental to any of my credit reports, I will consult with my legal counsel for suit. This includes any listing any information to a credit reporting repository that could be inaccurate or invalidated. If your offices fail to respond to this validation request within 30 days from the date of your receipt, all references to this account must be deleted and completely removed from my credit file and a copy of such deletion request shall be sent to me immediately. 1

3 I also request that no telephone contact be made by your offices to my home or to my place of employment. If your offices attempt telephone communication with me it will be considered harassment and I will have no choice but to file suit. All future communications with me MUST be done in writing and sent to the address noted in the letter header. This is a request for validation made pursuant to the Fair Debt Collection Practices Act. If you do not respond as required by this law within 30 days, your claim will not be considered, and you may be liable for damages for continued collection efforts. Upon failure or refusal of collector to validate this collection action, collector agrees to waive all claims against the debtor named herein and pay debtor for all costs and attorney fees involved in defending this collection action. In the event of noncompliance, I reserve the right to file charges and/or complaints with appropriate County, State & Federal authorities, the BBB and State Bar associations for violations of the FDCPA, FCRA, and Federal and State statutes on fraudulent extortion. I also hereby reserve my right to take private civil action against you to recover damages. Thank you, YOUR NAME (NOT SIGNATURE) 2

4 CREDITOR/DEBT COLLECTOR DECLARATION/VERIFICATION Your claim cannot be considered if any portion of this form is not completed and returned with the required documents. If complete compliance with the terms and conditions of this letter cannot be met within 30 days, a complete withdrawal, in writing, of any claim is required. Name and address of alleged creditor: Name on file of alleged debtor: Alleged account #( s) Address on file for alleged debtor: Amount of original alleged debt: Balance of alleged debt: Date that this alleged debt became payable: Date of original charge off or delinquency: Creditor s disclosure statement: (Attach a facsimile of any records relating to such terms.) Have any judgments been obtained by any creditor regarding this account? What are the terms of assignment for this account? (Attach a facsimile of any records relating to such terms.) Please provide the name and address of the bonding agent for (Name Of Debt Collector), in case legal action becomes necessary: 3

5 Date you acquired this debt: Was this debt assigned to debt collector or purchased? Amount paid if debt was purchased: Commission for debt collector if collection efforts are successful: Have any insurance claims been made by any creditor or assignee regarding this account? Has the purported balanced of this account been used in any tax deduction claim? Please list the particular products or services sold by the collector to the debtor and the dollar amount of each: Please indicate all credit bureaus to which you have reported on this account: [ ] Experian [ ] Equifax [ ] TransUnion [ ] Other: X Authorized signature for Collector Date In addition to the questionnaire, be sure to attach copies of: 1. Evidence your authorization under 15 USC 1692(e) and 15 USC 1692(f) in this alleged matter. 2. Agreement with your client that grants you the authority to collect on this alleged debt, or proof of acquisition by purchase or assignment. 3. Authorization of law for your collection of information? 4. Authorization of law for your collection of this alleged debt? 5. Evidence your authorization to do business or operate in this state. 6. Evidence proof of the alleged debt, including specifically the alleged contract with the signature of the alleged debtor wherein he or she agreed to pay the creditor. 7. Complete account history, including any charges added for collection activity. 4