I owe 701.00 to them for a charge-off and I tried to negotioate a better credit bureau reporting such as paid collection, etc in exchange for full payment and they flat out refused! What should I do? not pay them and wait the7 years or should I write a letter to FTC?
Is it a legitimate debt that you owe them? If so, writing the FTC won't do you any good. Or was it fradulent purchases or whatever... Why was it charged off?
At the risk of coming off like a jerk, which I'm really not trying to do, you had to have known payments were due. Why didn't you call them?
Isn't there a Fair Credit Billing Act, which says that you need to be able to see your bills--determine accuracy, validity of charges, etc. cariba
There is such an act, but I have no idea what it says. But really, it takes awhile to charge off and you have to know if you charge something and didn't get a bill, that a payment is due. I mean after 2 - 3 months of not getting a bill, wouldn't you call to find out what was up?
Ok. What I would do is go to Planetfeedback.com and construct a letter to cap1. Tell them straight up what happened with the billing and the hospital. You will get a fairly quick response via email from someone in their consumer advocates office. They will usually work with you. Just tell them the story and that you want to make it right, but also want a better rating at the credit bureau. Good luck.
Hmmm. I'm trying to remember but the Fair Billing deal is you have 60 days I think to dispute a bill. Sending a bill to the wrong address falls under that act and it's grounds for reversal of charges and fees... but I wonder if there's more to it than just that. After all, it normally takes several month, if not 6 for a credit card to charge off. if you haven't charged a thing and the only charge is for an annual fee, then you might have a chance. If I were you, I'd send a letter tomorrow to Cap1's correspondence address stating that you haven't been getting your statements and to please make sure your new address is listed... send the letter certified return receipt requested. then later you could maybe use planetfeedback to fire off a letter stating that you notified them of a change of address in Jan and didn't realize you had a chargoff until Jan. IF it's just the annual fee.. then that might be a reasonable request. But if there's more to it than that... I would agree you have a larger issue. but if it really is an error, then planetfeedback may be able to help you. Be prepared to pay the account in full, of course.
hmm. just reread the post. sorry I didn't read it correctly. at 701 you had to have known there was a balance. even if you missed a month or 2 I don't think it would have been that far behind unless you were already behind going into the hospital. Make sure they now have your correct address. You can register online for access maybe and get your statements and see what fees have been assessed. then I'd just do a planetfeedback letter. there have got to be a ton of fees. see if they'll reverse some of the fees if you'll pay it all off in full lump sum. if you can't do that then ask for payments and a reinstatement of the account when all is said and done (secured if need be). after it's all paid he might reverse the late stuff but if he reinstates the account at the end you'll get out of the chargeoff status. whatever you do... do it now.
I've worked for too many credit card companies. A credit card issuer is not legally obligated to send you a bill or even provide you with a toll free customer service number, however no one understands or accepts this so they all do and if you call in and say that they were sending it to the wrong address, most companies will make some sort of concession unless you have abused that excuse in the past with them or they have contacted you by phone and you have broken promises to pay with them. I agree that you should kick out a PFB email to them and see what if any that shakes loose. Best of luck
Fair Credit Billing Act straight off the FTC website: Fair Credit Billing Have you ever been billed for merchandise you returned or never received? Has your credit card company ever charged you twice for the same item or failed to credit a payment to your account? While frustrating, these errors can be corrected. It takes a little patience and knowledge of the dispute settlement procedures provided by the Fair Credit Billing Act (FCBA). The law applies to "open end" credit accounts, such as credit cards, revolving charge accounts - such as department store accounts - and overdraft checking accounts. It does not cover installment contracts - loans or extensions of credit you repay on a fixed schedule. Consumers often buy cars, furniture and major appliances on an installment basis, and repay personal loans in installments as well. What types of disputes are covered? The FCBA settlement procedures apply only to disputes about "billing errors." For example: unauthorized charges. Federal law limits your responsibility for unauthorized charges to $50; charges that list the wrong date or amount; charges for goods and services you didn't accept or weren't delivered as agreed; math errors; failure to post payments and other credits, such as returns; failure to send bills to your current address - provided you supply a change of address at least 20 days before the billing period ends; and charges for which you ask for an explanation, or written proof of purchase along with a claimed error or request for clarification. To take advantage of the law's consumer protections, you must: write to the creditor at the address given for "billing inquiries," not the address for sending your payments, and include your name, address, account number and a description of the billing error. send your letter so that it reaches the creditor within 60 days after the first bill containing the error was mailed to you. Send your letter by certified mail, return receipt requested, so you have proof of what the creditor received. Include copies (not originals) of sales slips or other documents that support your position. Keep a copy of your dispute letter. The creditor must acknowledge your complaint in writing within 30 days after receiving it, unless the problem has been resolved. The creditor must resolve the dis- pute within two billing cycles (but not more than 90 days) after receiving your letter. What happens while my bill is in dispute? You may withhold payment on the disputed amount (and related charges), during the investigation. You must pay any part of the bill not in question, including finance charges on the undisputed amount. The creditor may not take any legal or other action to collect the disputed amount and related charges (including finance charges) during the investigation. While your account cannot be closed or restricted, the disputed amount may be applied against your credit limit. Will my credit rating be affected? The creditor may not threaten your credit rating or report you as delinquent while your bill is in dispute. However, the creditor may report that you are challenging your bill. In addition, the Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants who exercise their rights, in good faith, under the FCBA. Simply put, you cannot be denied credit simply because you've disputed a bill. What if... ...the bill is incorrect? If your bill contains an error, the creditor must explain to you - in writing - the corrections that will be made to your account. In addition to crediting your account, the creditor must remove all finance charges, late fees or other charges related to the error. If the creditor determines that you owe a portion of the disputed amount, you must get a written explanation. You may request copies of documents proving you owe the money. ...the bill is correct? If the creditor's investigation determines the bill is correct, you must be told promptly and in writing how much you owe and why. You may ask for copies of relevant documents. At this point, you'll owe the disputed amount, plus any finance charges that accumulated while the amount was in dispute. You also may have to pay the minimum amount you missed paying because of the dispute. If you disagree with the results of the investigation, you may write to the creditor, but you must act within 10 days after receiving the explanation, and you may indicate that you refuse to pay the disputed amount. At this point, the creditor may begin collection procedures. However, if the creditor reports you to a credit bureau as delinquent, the report also must state that you don't think you owe the money. The creditor must tell you who gets these reports. If the creditor fails to follow the procedure... Any creditor who fails to follow the settlement procedure may not collect the amount in dispute, or any related finance charges, up to $50, even if the bill turns out to be correct. For example, if a creditor acknowledges your complaint in 45 days - 15 days too late - or takes more than two billing cycles to resolve a dispute, the penalty applies. The penalty also applies if a creditor threatens to report - or improperly reports - your failure to pay to anyone during the dispute period. An important caveat Disputes about the quality of goods and services are not "billing errors," so the dispute procedure does not apply. However, if you buy unsatisfactory goods or services with a credit or charge card, you can take the same legal actions against the card issuer as you can take under state law against the seller. To take advantage of this protection regarding the quality of goods or services, you must: have made the purchase (it must be for more than $50) in your home state or within 100 miles of your current billing address; make a good faith effort to resolve the dispute with the seller first. The dollar and distance limitations don't apply if the seller also is the card issuer - or if a special business relationship exists between the seller and the card issuer. Other billing rights Businesses that offer "open end" credit also must: give you a written notice when you open a new account - and at certain other times - that describes your right to dispute billing errors; provide a statement for each billing period in which you owe - or they owe you - more than one dollar; send your bill at least 14 days before the payment is due - if you have a period within which to pay the bill without incurring additional charges; credit all payments to your account on the date they're received, unless no extra charges would result if they failed to do so. Creditors are permitted to set some reasonable rules for making payments, say setting a reasonable deadline for payment to be received to be credited on the same date; and promptly credit or refund overpayments and other amounts owed to your account. This applies to instances where your account is owed more than one dollar. Your account must be credited promptly with the amount owed. If you prefer a refund, it must be sent within seven business days after the creditor receives your written request. The creditor must also make a good faith effort to refund a credit balance that has remained on your account for more than six months. Suing the creditor You can sue a creditor who violates the FCBA. If you win, you may be awarded damages, plus twice the amount of any finance charge - as long as it's between $100 and $1,000. The court also may order the creditor to pay your attorney's fees and costs. If possible, hire a lawyer who is willing to accept the amount awarded to you by the court as the entire fee for representing you. Some lawyers may not take your case unless you agree to pay their fee - win or lose - or add to the court-awarded amount if they think it's too low. Reporting FCBA violations The Federal Trade Commission (FTC) enforces the FCBA for most creditors except banks. The FTC works for the consumer to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop and avoid them. To file a complaint or to get free information on consumer issues, call toll-free, 1-877-FTC-HELP (1-877-382-4357), or use the online complaint form. The FTC enters Internet, telemarketing, identity theft and other fraud-related complaints into Consumer Sentinel, a secure, online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.
Re: Fair Credit Billing Act Thank you Marie--I knew there was something in the FCBA that required them to send you a bill. That is also how I obtained some deletions of late pays: I moved, and you did not get my statements to me on time. cariba
Re: Fair Credit Billing Act The things you learn here! Both credit card companies that I have ever worked for told there collectors and customer service that they are not required to send out a bill. I'd have never know that they were if it was not for here.
Re: Fair Credit Billing Act Think about it--if your job is to intimidate and get money out of people, of course you would tell them that you did not have to send them a bill! cariba
