Validation of a debt is a requirement if a debt collection agency like SRS & Associates is attempting to recover a debt from you on behalf of a creditor. Debt collection is regulated by federal legislation in the form of the Fair Debt Collection Practices Act (FDCPA).
A debt collector is quite legally able to carry out their business on behalf of their creditor clients, but must restrict their contact times to between8 a.m. and 9p.m., stop contact if requested and provide the debt validation notice on request, too. Violation of the FDCPA may lead to legal action being taken against the agency.
You can recover damages of up to $1,000 plus legal costs if your lawsuit is successful. Talk to an attorney before initiating a lawsuit.
SRS & Associates Inc. – Company Profile
SRS & Associates Inc. is a debt collection agency based in Vineland, New Jersey. It specializes in payday loan debt recoveries and employs fewer than 10 employees. The Better Business Bureau has recorded several complaints made against the company, but has not given a recent rating as it has no recent record of its existence.
The company has been taken to court before (after an alleged violation of the FDCPA in 2008). The basis of the debtor’s complaint was that the collector used threatening language, kept calling her by phone at her place of employment and attempted to obtain a debt repayment by false mans. The lawsuit in this case did not succeed.
![Did SRS & Associates Inc.* Not Validate Your Debt?*]()
What Is a Debt Validation Letter? And Why Do You Need It?
If you are unsure whether a debt you have been asked to repay is correct, or you don’t believe you have any kind of debt at all, you can send a verification letter to the debt collection agency requesting validation of your debt. The agency must respond within 5 days of receipt of the request according to the FDCPA. Failure to respond in time is a violation of the Act and can lead to legal action being taken.
A validation letter basically sets out the details of the debt you supposedly owe. It provides the name of the creditor, when the debt was first incurred, the amount of debt and an outline of repayment options. Even if you take legal action against a debt collect, it doesn’t mean that any debt you owe is canceled. You still owe the same debt to the same creditor.
Talk to an Attorney Today
It can be hard attempting to sue a debt collection agency on your own. Legal knowledge is an asset when it comes to filing a lawsuit. You are advised to talk to an FDCPA attorney before initiating a claim against the debt collector. Fill out our Free Case Evaluation to be connected with an FDCPA attorney who handles consumer law cases in your state.
*Disclaimer: The content of this article serves only to provide information and should not be construed as legal advice. If you file a claim against SRS & Associates Inc., or any other third-party collection agency, you may not be entitled to compensation.
Additional Resources