Invalidating an auto loan

Your debt validation letter must be sent in writing.After receiving your dispute, the collection agency must send you proof.If you own a car, you know how important it is to keep up with routine maintenance and repairs.But can a dealer refuse to honor the warranty that came with your new car if someone else does the routine maintenance or repairs?What if the debt has already been paid or perhaps the Statute of Limitations has expired on the debt and you cannot be legally sued for the debt?Debt validation forces a collection agency, debt collector and even a law firm in the business of debt collection prove you owe a debt.The Magnuson-Moss Warranty Act makes it illegal for companies to void your warranty or deny coverage under the warranty simply because you used an aftermarket or recycled part.The manufacturer or dealer can, however, require consumers to use select parts if those parts are provided to consumers free of charge under the warranty.

Typically verification of the debt occurs in the debt collector’s initial contact with you.If the debt collector fails to verify the debt, by law they have 5 days from the initial contact to tell you: When requesting debt validation, you can dispute the entire debt or part of the debt, and you can request the name of the original creditor.Requesting the name of the original creditor may help you decide whether you have grounds to dispute the debt.A warranty is a promise, often made by a manufacturer, to stand behind its product or to fix certain defects or malfunctions over a period of time.The warranty pays for any covered repairs or part replacements during the warranty period. An independent mechanic, a retail chain shop, or even you yourself can do routine maintenance and repairs on your vehicle.

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In fact, the Magnuson-Moss Warranty Act, which is enforced by the FTC, makes it illegal for manufacturers or dealers to claim that your warranty is void or to deny coverage under your warranty simply because someone other than the dealer did the work.

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