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Credit card company hired lawyer to collect debt

Date: Sat, 09/24/2011 - 20:36

Submitted by Laney1135
on Sat, 09/24/2011 - 20:36

Posts: 3 Credits: [Donate]

Total Replies: 8


I owe a debt to Capital One and just got a letter from a law office in my city that Capital One hired them to collect this debt. It's the letter that says ' you have 30 days to claim this debt' or something like that. I assume if I don't pay this they will sue me? I definitely want to pay this off ASAP, so if I pay the law office right away will my debt be okay with them and I won't get sued? Would it be better to pay Capital One directly or pay the law firm, or does it not matter?
Thanks


i would try to settle it thru the atty at less than full balance... but i would certainly not ignore it...
one thing you can do as well, is to call capitol one and make sure they did turn it over to this attorney firm...when calling cap one you may have to trick the automated phone system to speak to someone, by not entering your credit card number....and when you get a live person tell them you need to speak to someone in the collections dept or litigation dept and then ask them what the status of your account is.


lrhall41

Submitted by generallee on Sat, 09/24/2011 - 22:18

( Posts: 150 | Credits: )


You can settle for less than the full balance directly with the attorney that Capital One hired. Before forwarding funds to them, however, be sure to get the settlement agreement in writing. After you receive this, you can forward funds for the settlement amount.

Best of luck to you!


lrhall41

Submitted by mariemegge on Tue, 09/27/2011 - 08:00

( Posts: 168 | Credits: )


Thanks for the replies. I would like to settle for less than what I owe ($1350). I am unable to call the attorney as I am deaf so all communication will have to be via letters. Should I just write up a letter that I want to settle for less and state the amount? What amount would you recommend?
Thanks


lrhall41

Submitted by Laney1135 on Wed, 09/28/2011 - 13:54

( Posts: 3 | Credits: )


Their letter was probably a formal collection notice, commonly referred to as a dunning letter. It is required under FDCPA 809, and the 30-day period it refers to is the period running against you within which you can send them a debt validation (DV) letter, which upon receipt by them, requires that they cease any further collection activity until such time as they have provided you validation of the debt.

It is recommended that you send them a debt validation request within that 30-day period. It is not notice of impending legal action.


lrhall41

Submitted by Lian on Fri, 09/30/2011 - 02:05

( Posts: 234 | Credits: )