ACR sent demand letter
Date: Tue, 06/16/2009 - 06:52
I have another issus as well. I have defaulted on a 300 loan from lazer lending. I receieved a call from national credit adjusters stating they have brought the loan and the balance is now 510 dollars. i have already paid 180 in fees. My question is can a collection agency buy an illegal pdl? and what should be my next move in dealing with them? thanks so much
They have no legal recourse against you being the loans were ILL
They have no legal recourse against you being the loans were ILLEGAL due to NY state law governing PDLs. Do not worry about their so called "demand letter" it is just a scare tactic. All you are morally obligated too is the principal amount borrowed. If you have paid any fees/rollovers towards the loans then minus that from what you borrowed. :wink:
so should i just send them the remaining of the principal for th
so should i just send them the remaining of the principal for the two loans along with a letter stating i am paying i consider this account paid in full?
sorry for the typo. In my letter should i state that i am sendin
sorry for the typo. In my letter should i state that i am sending the remaining balance on the principal of the loan and i consider this matter resolved?
I would send the payment directly to the original creditor. The
I would send the payment directly to the original creditor. The collection agency in question can't possibly be legit either as CA's can not add interest and fees without a court order. Fees and interest are only honored in the original contract IF it was a valid contract to begin with, and yours never was.
so about national credit adjusters do i just ignore them or do
so about national credit adjusters do i just ignore them or do i sent them a letter stating they have purchased an illegal loan. they also have put info on my credit report. how do i deal with this? thanks
Yes end them a debt validation letter request. Also request thei
Yes end them a debt validation letter request. Also request their license number and ensure they know they are collecting on an Illegal debt. Do not sned any payment untill you get a agreement in writing from the OC/PDL. This can backfire on you later if you dont.
i agree only send the money if it is in writing. i had mine in w
i agree only send the money if it is in writing. i had mine in writing, sent a money order and a year later they are trying to collect again. luckily i had it in writing and sent it to them certified mail. we will see what happens, but i know i am not sending them another dime.
