Hello, I have a question regarding a letter I received from Northland Group, informing me they have been assigned to collect on an old Capital One card. The card was charged off at $550.00 about four years ago. The letter states I owe $1,043.49. Here is my question, the letter states, "Because of interest that may vary from day to day, the balance due on the day you pay may be greater" I live in Ohio, does anyone know if collection agencies can charge that much interest? Thanks in advance for any clarity on this.

Interest for debt collectors is capped at 8% IF they have a judgment against you, but, if Capitol One still owns this debt and Northland Group is just representing them, then look at your contract and see what interest rate & fees are on your contract.

__________________
CLICK HERE To join my Social group, The Payday-Loan-Free Advocates!

Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws
CLICK HERE to find a Creditor

Thanks Shazzers, your always such a big help on this board! But if I don't have a copy of my contract because it was so long ago, do you know how I can get a copy? Maybe thru a DV letter?

Northland Group Complaints:
Northland group are scammers. Check what your state statute of limitations is on old debts. This company is know to practice these illegal collections of old debts. Ask them for verification of your signature. Good Luck

Send them A DV letter asking for a full and complete accounting as well as a copy of the signed contract (this is to prove that they can legally collect the interest they are claiming.) Also make sure they are fully licensed and bonded (whatever your state dictates).

Also send this certified and when you get the card back, dispute with the CRAs so when they validate on the reports they violate law and you have more leverage with them. Its rather nice to pay an account from the check the CA sends you when you win a lawsuit for them violating the law..because despite what they btell you, even if they finally validate fully (most never can) you can still get them for the violations since even if the debt IS yours, you still are entitled to the moneies from the violations.

according to the debt cures book in Ohio the statutes of limitations is up on that debt after 4 years. As long as you haven't admitted to owing on it to the collection agency. So next time they contact you tell them the Statutes of limitations is up and not to contact you again.

I need a detailed description of the debt you are attempting to collect

Guest: We are not Northland group. We are a forum dedicated to informing consumers of their rights.

There is a federal statute that forbids collection agencies from harrassing you during the period that transpires between when you send a request for detailed description of the specific "purchases" and the time that they comply with this information.
Does anyone know this specific statute number? I missplaced my original research.