I have a collection agency that just won't let up. They even contacted my former fiancee out of state! (I haven't even seen the man for 6 years and we never had anything in both of our names!) I want to send them a C/D letter but fear this could cause them to take legal action against me sooner than they might have planned. Any suggestions? This collection is for an auto I had repossessed a year ago. The bank (original creditor) charged the loan off (according to my credit report) but must have sold it to a CA.
Many different variables go into a CA's decision to sue, but it basically comes down to whether they believe you can pay. I'm assuming they're trying to collect the deficiency amount from the repo? Deficiencies are unsecured debt, therefore, the CA will be very cautious about throwing good money after bad. Instead of sending the C&D letter right away, you might want to ask for validation. They legally can't continue collection until they provide you validation. This might be a good idea, because if the CA bought the debt from the OC, they might have some trouble verifying it. Good Luck!!!
