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Collection agency

Discussion in 'Credit Talk' started by girl5, Oct 11, 2002.

  1. Oct 11, 2002 #1
    girl5

    girl5 Member

    Collection Agency problem

    I am a newbie to credit repair. I have just sent off for my credit reports. However, I have getting calls from a collection agency NATIONAL Financial-to collect on my charged off citibank cc. I made one payment of over 240, however I was not able to make any more payments due to being a fulltime student, parttime worker and being hospitalized(surgery). Now when they contact me, they ask for 340 and willnot give me credit for the amount I paid. They acknowledge that I paid the amount, however they are demanding 1800 to settle(lump) after 350. (that I do not have) They claim that because I did not continue to pay after the inital payment of 240, they had to charge interest- which equals the amount of the payment that I made. Is this legal? So basically my paying the 240 has not done any good. Can a CA charge interest after a chargeoff? Anyone have dealings with this collection agency?? They keep calling and threatening to send sheriff deputies to serve me, etc I am not in a position to settle I do not have that much cash. If I did I like most would not be in trouble. What are my options? What can I do?
     
  3. Oct 11, 2002 #2
    Burbs Guy

    Burbs Guy Well-Known Member

    Re: Collection Agency problem

    Read these articles, then read the FAQ here and ask some questions. Then you can probably tell these guys to go fry ice. I would also start gathering your documentation for an FTC, AG and BBB complaint against NFS - looks like you have plenty of company.

    http://www.ftc.gov/opa/1999/9912/natfinsys.htm

    http://www.ftc.gov/opa/1995/9507/nsf2.htm

    You'll need to start with validation requests and go from there. Make sure you demand they only contact you in writing.

    Good luck !!
     
  4. Oct 11, 2002 #3
    KHM

    KHM Well-Known Member

    Re: Collection Agency problem

    When was the debt charged off?
    Whats the SOL in your state?
    When did they threaten to send the deputies?
    Have they sent the deputies?
    Send them a C&D and tell them to only contact you by mail. Call your attorney general and file a complaint regarding the $240 you paid and how they aren't applying it to the debt. Did you sign an agrement with them regarding the payment plan?
     

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