Update from previous thread, really need some input. CC refused to lower the interest rate on the acct, even though I had been ontime with payments for 1 year (and only 4 times late in 7 years, always paying all fees, etc.), and by their agreement they only review 11 billing cycles to determine the default APR. They requested I fill out an additional form that would authorize them to run a credit check on me before they decide. I argued that this would constitute universal default, which is not in their agreement, and that this process for an additional form was not in the agreement either. They stated this is a proprietary and private process that they do not need to disclose. I sent 2 dispute letters, never heard back on dispute for 3 months. Since this was a balance in dispute, I was not obligated to pay the disputed amount. so I quit making payments after 3 months of failure to respond on their part. Then CC started collection efforts for 4 months, but never did reply to my original disputes, but threatened me with legal action. I then sent a third dispute. That finally got their attention, and in the ensuing letter conversation they still maintain they need not disclose processes, and that I have no grounds for dispute, but never answered why they did not respond to the original disputes, or why they are trying to impose universal default rate. After receiving notice from the collection agency, I have kept the collection agency informed that this is an acct in dispute due to breach of contract by the credit card company. I also sent to validation letter using the form from this forum. They halted collection efforts for a while, until I received the apparently final letter from the CC company on my dispute, and was referred to the collection agency. The collection agency, supposedly attorneys, then mailed copies of my statements, but never filled out the validation form. I had consulted an attorney a few months back, and he admitted I had some very good points, but advised to see how far CC and CA would go. I now need to find out: 1. I have read several times that just sending copies of statements does not constitute validation of my debt. What does? What does the CA need to furnish to stand up by law? 2. The original breach of contract by the CC, to me, is still not settled, not to mention their failure to act on a dispute, and violating FDCPA by calling me before 8:00am in the morning. 3. They admitted, both verbally and in writing, that there are "hidden" processes in place that they don't tell the cardmembers about, despite them stating in their own website online that "all terms and conditions of the account are in the cardmember agreement". My point is, this is a bilaterally binding contract, and if it's not in there, it's not valid or enforceable. I am going to see my attorney again, and possibly file a complaint with the FTC and state attorney general. To me, this is a clear cut case of breach of contract, I have upheld my obligations for years, they are trying to avoid theirs. They should have granted my initial request for lower interest rate without further ado, if they had honored their own agreement. The fact that they refused to grant my request, failed to respond to a dispute, and tried to enforce provisions that are not in the agreement, voids the contract. Any insight from anybody???
