These guys won't budge. They are trying to make me pay over 2000 interest on a 5000 10 month old debt. What can I do. They are threatening to take legal action and the SOL has 4 more years to go. They have committed several violations but I am not sure I can pin any of them on them as they are sneaky about it (and my records suck). Should I vallidate? I mentioned validation to the lady that I talked to and she stated that she could validate but if they do that, the whole amount is due immediately and they will no longer accept any settlements ever. Does this sound right? They are !@#$^%$. I know I was bad talking to them but I want to get this taken care off and thought maybe they could help. hA!!!!
Read the FDCPA, nowhere does it say that if you request validation you have to pay the debt immediately. I would have asked her to put that into writing, and then faxed that letter right to the FTC. What if the validation isn't complete, oh, we sent you something you have to pay us now... I would think that if they were serious about that 'policy', it would be an unconscionable business practice, in the least. The only thing that they want is to scare you away from validation because validation puts their collection activities on hold, disputing over the phone doesn't... #1 i would request complete and total validation, all historical documentation, signed application, statements, invoices, etc, and c&d for no more phone calls, or third party communications.
I am scared because they are spewing all this legal crap and stating that if they turn it over to legal then this and that and etc.................. I am just worried because it is my debt - I owe it and I think they have everything they need to get me...I could be wrong.
Send the validation, Certified maid return receipt requested, or CRRR. Like the person above stated, DO NOT TALK TO THEM ON THE PHONE ANY LONGER. Document everything. Also, give more specific information about this debt. Is it a credit card debt, repo deficiency, etc. Give dates also. What state you are in. DO NOT give account #'s and the like. No need to be that specific. The more details you give, the more people can help you.
Credit Card debt charged off in 2000 - still within sol in SD dola was 4/2000 with OC - now 5/2000 with Asset they say they are charging 18% interest but the debt went from 6000 to 8500 from 12/02 until now. they specifically say on one of the letters that i have accumulated 2500 in interest. seems a bit much to me.
Ass can't change the dola. Are you sure that the dola is 4/2000? Just send the validation letter. After receiving the validation letter, they cannot proceed with "legal" or continue collection activity until they provide you with validation. And do not let them get by with partial validation. Make them send it all. When and IF you get it from them, go over everything with a fine tooth comb. Also, just keep documenting everything, don't talk to them on the phone and do everything in writing, CRRR. This way you have a paper trail and can trip them on violations. The violations is what gives you leverage to settle this account.
I sent the validation today. It scares me. They send me a collection letter once in a while and that is it. I am afraid if waking the sleeping. The point is that I have to face this and get my report cleaned up, however. I am just not convinced that this is the way to do it. They gave me a 50% offer - I am afraid this will piss them off and they will need more than that now! Does anyone ever think that these type of letters let them know that they need to play hardball with us and be less likely to make errors? Does anyone know about how much and how they can legally charge interest? Thanks for all the help, everyone.
I am afraid OF waking A sleeping GIANT. This is one of the dumbest statements and I see it around here a lot. THE END ** *** ** LB 59
I am not sure what you are trying to put me down about but if it was my typing, I meant to type OF not if. Anyway, what are you talking about? Dumbest statements? If these places are leaving me alone and I write them and now all of the sudden they are calling, writing, and SUEING me, what do you want me to call it. I'll rephrase this for your benefit because I know you have not posted anything here but totally intelligent and 100% accurate statements. In keeping that in mind, scratch everything that I have said in prior posts and replace it with this - "I hope that my contacting this company doesn't push them to more intense collection practices". I appreciate your concern and profound statements but please don't respond unless you can help me. I can get crap llike this on any site. Thanks to the rest of you that honestly want to help me.
1*I am not sure what you are trying to put me down 2*I hope that my contacting this company doesn't push them to more intense collection practices". fletchlive ======================= 1*Sorry didn't mean it as a put you down. 2*What with CAs being unable to validate 95 to 99 percent of the time I don't feel that is to great of a concern. THE END ** *** ** LB 59 """"```--~~~~~~~~~--```'""'''
First things first...take a deep breath a chill out! No one is trying to offend or belittle you. Think of where you are ...a credit repair board. Everyone here is trying to help you and themselves. Panicing isn't going to help you any...reading and asking questions will. #1. UNLESS they really plan on suing you, it is illegal for them to threaten to do so. If they threaten it again tell them to send you something in writing. In fact you should not talk to them on the phone that way everything is in writing without you even having to ask. #2. They can claim whatever they want as far as validation and not offering settlements. My response would have been "That's fine, because until you send me proper validation I will continue to assume that this account is false as I do not belive I owe what you say I owe." Eventually they'll be desperate to recoup any of the funds that they purchased. #3. You are letting them scare the stuff out of you. That is what they live for. Unless you stand up to them they are going to walk all over you. Read the credit repair primer..one of the things it states is to have a litigous state of mind..chances are very unlikely you will end up in court. 3 years have passed and you haven't been sued yet. Do you think they're really that quick to do it now because you want factual evidence that they have a right to do so? AND if you do send that validation letter and they try to sue you they're in for a treat. Send them a validation letter CMRR. SPECIFICALLY state for them to not contact you by phone at home nor your place of employment. I guarantee you will have violation city very quickly. I'm dealing with them currently and they've got 5 days left to get validation in my mailbox and that's on top of calling my employer after being asked once not to and told a second time in my CMRR letter.
Re: NEED immediate help with ASSet I just went to court against Asset, and in my experience, and from others I have seen, they are not prepared. Try validation first. You are letting them win if you let them intimidate you. That is what they are for. Think of it this way. It is not their money. They bought this debt, most likely for nearly nothing, and the only way they think to get any money is to intimidate the people who let them. They probably don't have any documentation. Make them prove it. I was terrified at first too, but nothing is final. They have a ways to go to prove the debt, but you have to make them do it.
