Wrote to Capital One about my '98 charge-off, originally $558, has now increased to $2389.51 as of 05/04. I asked them for full validation of my account and that I wanted to know all information concerning it: dates, amounts, activities, including that which they passed on to each of the CRAs. I received my response yesterday and all I received was the first 3 statements, a copy of my signed contract, the terms and conditions of the account, and a letter stating that the balance on this account is now $2389.51. Can this really be enough? I mean they pass on my signed contract and a few statements to the CRAs and then tell them, "well, she owes this much," and offers no proof to back it up? I mean, when I asked for full validation and all they give me is this, without any record of how $558 became $2389.51, but this kind of arrogant excuse, "oh well you owe this, because we say you do" it just boggles my mind. What should I do now? Should I pass this on to the CRAs myself and say when I ask for proof of my debt from them I get a few statements and a contract from them and little else? I mean, this just can't be enough to sustain a charge-off mark on my report. Advice, anyone?
ck this link out it may answer some questions http://consumers.creditnet.com/stra...d.php?s=&threadid=58091&highlight=capital+one
So since they never sent me a statement of interest accrued after the account charged-off then I am not liable for the debt? Is this correct?
The debt itself, may be valid, but the illegal fees wouldn't be. If you demanded all statements, I would re-send the original letter, state that they still have not provided all of the documentation which they are required to to validate this account, and you are demanding a complete and total accounting of any and all fees which they have been accessing to the account, and their basis under law, and the beginning dates of calculation, and the rates at which they have been calculated at.
So you're saying that the original debt, the $558, is valid, but perhaps not the new grand total of $2382 and rising? Thanks for your advice; I will send them that letter immediately. Now as for having to send me a monthly statement when they assess fees, is this just something that's common knowledge, or is there a specific law I can cite to back this up? Thanks.
So you're saying that the original debt, the $558, is valid. fingrrrl ================= No he said it may be valid. Since this debt is 6 years old the Sol is probably expired on it. That's the first thing I'ed be checking out.
Agreed, if the debt dates back to 1998, you should check out the SOL in your State. It's very possible that this debt is legally noncollectable for them. If so, just ignore them for a year or two until it drops off your credit report.
ask the CA for validation if you are past the SOL if they can't provide proof they must delete the TL off your report why wait if you don't have to worst that can happen is they have proof and you refuse to pay and send a C&D and have it on your report for another year. they may also attempt to violate the FCRA or FDCPA which would work in your favor for a deletion and possible $
heres the link to the FCBA http://www.ftc.gov/os/statutes/fcb/fcb.pdf in order to keep charging monthly fees a creditor must provide a monthly stating showing it.
send your written request and 2nd dispute by CMRRR and put the tracking # off the certificate on your letter. Capital One Regulatory Response Team 15000 Capital One Drive Richmond, VA 23238 if you don't get proof of how this balance came to be file a complaint with the richmond BBB www.centralvirginia.bbb.org phone # (804) 648-0016 and then another one with the Federal Reserve Bank of Richmond who regulates Cap 1 their address is Regulatory Complaince Division P.O Box 85029 Richmond, Va 23261 phone # (804)697-8434 did you already dispute these accts with the CRA ? and cap 1 verified it? I am quessing that its Cap 1 TL on your report there is no CA or judgment involved here? also do not provide that info to the CRA they may try to use it against you in future disputes. BTW keep ALL of your old CR and paperwork they may try to re-age the acct and report it longer they did on mine
Agreed, if the debt dates back to 1998, you should check out the SOL in your State. It's very possible that this debt is legally noncollectable for them. If so, *just ignore them for a year or two until it drops off your credit report. ryder ================= *Why not make them validate,rack up some violations and get it off now instead?
