Opinions Please
Date: Mon, 05/18/2009 - 17:57
I had a cc with Direct Merchants Bank. Opened in 1999, closed in 2002. At the time it was closed it was 30 days late. I closed the account because they charged extremely high fees and it was crap. At one point this balance was close to $12,000. Between 2002 and now the balance is around $6000. At one point I made 3 regular payments and DM was suppose to re-age the account and make it current. I held up my end and they did not. At that point, Nov. 2008, they told me to make $65.00 payments for 6 months and try and get caught up. April 31 they wrote the account off as bad debt and sold it.
I rec'd a phone call from some collector named George who said he had rec'd the account from The Bureaus and was retained to collect the debt. I told him send me the letter. He ask me what my intentions are in regard to this debt. I ignored him and told him to send the letter as required. He said fine. George called every single day after that. I did not answer the phone. He called a week later and ask if I rec'd the letter. He ended up emailing it that night. Then 7 days later I rec'c the one in the mail. The letter was dated Monday, May 4th. The initial call from George was rec'd April 28. I did not get the mailed letter until May 12th.
The emailed one listed the collection agency as the creditor. The one sent in the mail had Direct Merchants/HSBC as the creditor. I immediately sent a validation letter that was signed for on the 11th. On the 13th George called my house. I did not answer and he left no message. He has not called since.
Provided this agency provides validation that they have a legal right to collect, I am going to settle the debt.
This agency is not the one that DM told me the account was sold 2. The buyers name appears no place on either letter I rec'd.
I want to do the right thing here but I will not be screwed by these people. This debt is scheduled to drop off my credit report in August of this year. I have made payments right up until 15 days before they wrote it off.
Any suggestions???? Have the laws been followed by this agency this far?
I rec'd a phone call from some collector named George who said he had rec'd the account from The Bureaus and was retained to collect the debt. I told him send me the letter. He ask me what my intentions are in regard to this debt. I ignored him and told him to send the letter as required. He said fine. George called every single day after that. I did not answer the phone. He called a week later and ask if I rec'd the letter. He ended up emailing it that night. Then 7 days later I rec'c the one in the mail. The letter was dated Monday, May 4th. The initial call from George was rec'd April 28. I did not get the mailed letter until May 12th.
The emailed one listed the collection agency as the creditor. The one sent in the mail had Direct Merchants/HSBC as the creditor. I immediately sent a validation letter that was signed for on the 11th. On the 13th George called my house. I did not answer and he left no message. He has not called since.
Provided this agency provides validation that they have a legal right to collect, I am going to settle the debt.
This agency is not the one that DM told me the account was sold 2. The buyers name appears no place on either letter I rec'd.
I want to do the right thing here but I will not be screwed by these people. This debt is scheduled to drop off my credit report in August of this year. I have made payments right up until 15 days before they wrote it off.
Any suggestions???? Have the laws been followed by this agency this far?