Got letter from debt collector. Stated amount I owed then went on to say this amount changes daily due to interest, late charges and costs of recovery. I thought once it was put in hands of collection agency the amount stop growing. Am I wrong? Should I send letter of validation? What if they do not sign for this?
Yes, send a letter of validation. Why wouldn't they accept it, after all, you may just be making sure they get your money your sending in reply to their demand. (lol .. not) The surprise is once they open the box......
The question of whether or not interest or other fees accrews is determined by what the original contract and/or application states. If fees are outlined in the contract and/or application, and they are not illegal under the laws of your state, then they are legal. The comment which you are referring to is one of a number of the "safe harbor" verbiages which courts have made in certain cases, if they would state a specific dollar amount, and not state that that dollar amount could change, and that dollar amount does change, then you may have a misrepresentation of the amount, character, and legal status of the debt claim against them, even know the amount was accurate at the time it was printed, if it wasn't accurate at the time the consumer receives it, then the CA could be at risk without that little disclaimer.
Dead board fair-debt-collection.com Forum Index -> Debt Collection Questions View previous topic :: View next topic Author Message here again Joined: 24 Jun 2004 Posts: 4 Posted: Sat Jul 17, 2004 12:41 am Post subject: Collection question. Is this legit? -------------------------------------------------------------------------------- Got letter from Pioneer Credit Recovery, Inc. Letter stated amount I owe then goes on stating amount changes day to day due to interest, late charges and costs of recovery. I thought once collection agency is involved the amount stops growing. Should I send letter of validation? If so, where can I find a form letter for this to use. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ That depends on the original agreement. This is why you need to make them validate so you can see what it says.
