Can a CA legally collect more than what is owed to the OC? I have two separate TU reports showing the balance owed to be substantially higher than the first report. I have not attempted to negotiate or validate the debt with them as yet. deadbeavis
We should always dispute the amount. It's my personal position that they almost always "add" more money to the debt illegally. I think that's why so many won't validate. They'd be cutting their own throats. Only that which is allowed in your contract, up to, but not to exceed, state law is permitted to be added. What are the amounts and time frames so I can calculate the internal interest rate. If it's over 18% (max in most states) you may have a fraud case.
It's hard to say what the OC advises I really owe them since I don't have current data, but the amount in dispute seems to be 3785. However, the CA advises on my 2/03 TU report I owe 4305. In comparison, the TU report I pulled from 2/02 shows 4103, which is the first month it was reported to the CRA's. Note: Collection procedures began on this loan back in 3/99 but again, was not reported until the debt was transferred from one CA to another, apparently on 2/02. I do not have any collection notices to verify actual dates, these are estimated. I was not given any notice to dispute this debt (30 days), either. deadbeavis
