I had a credit card that I could not pay regular payments after a heart attack. The company charged it off around the middle of 2003. They assigned a law firm to do the collection in early 2004. the amount by then was $2500. The Law firm contacted me and I made payments until it was paid and got a letter form them that it was paid in full. A recent copy of my report shows the same account being charged off again in 2007. It shows also settlement on account and settled for less than full amount. When talking to them they would not even give what the settled amount was. I was never contacted about this, it just showed up on my report. TILA requires that a creditor supply the consumer with a periodic statement of all transactions debits and credits on an account, interest rate changes and so on. Would this not be considered a TILA violation? If anyone has had a similar experience I would appreciate help.
