Please help on dealing with Discover Financial

Kelly

Dispute the item with Discover Financial. Also, request them to send you the payment history done on this account. The details can be picked from their system. Check the date when you last made a payment.

If you have not paid anything within the SOL period of your state, you can legally refuse to pay on this account. You will need to notify them in writing.

Your prime concern should be to get the accurate details of the account before making any commitment. Send your request in writing through certified mail with return receipt requested. You should get some proof of your correspondence done with them for records. I doubt if the matter will be taken to the court by the company, but you should have your basis covered.

The debt was validated by Discover Financial. They are saying that its valid. It just seems so high because of the interest and late payments fees. So John, I should write to them and ask for payment history on this account? Should I request anything else? I know for sure the SQL hasn't been expired so they can sue me if they choose to. In your opinion, how likely are they to sue since I know that its expensive to sue. Thanks for the quick response.

You have proof that the statements don't match with the total amount. This gives you the right to dispute it. Send your request to the company for verification.

I will also like to know when you last paid on this account. I will be able to re-confirm the SOL.

Chances of suing depend upon the creditors. They will review your past payment history and the total amount of debt before taking the actions. Moreover, there are court costs and attorney fees involved in it. So, they will like to give a chance and settle the matter outside the court.

Is an outside collection agency holding your Discover account? I used to work for and agency that contracted with Discover, and the lady who handled most of the Discover accounts was alright. Just be careful though, the rest of that agency wasn't so alright. If you are working directly with Discover, good, try your best to keep it that way.

An outside collecttion agency was holding my account. When I sent them a letter asking them to validate the debt, I got a response from Discover not the collection agency. I think that I last paid on the account in May 2005. I have drafted a letter to Discover requesting that they give me payment history on the account. Since the total amount don't match the statements, should I inquire about that in my letter as well? Is there anything else that I need to do at this point. I just feel really lost about this entire situation. The debt wasn't even originally mines but by an ex who ran up my credit cards. Thanks for the help.

I can't help wondering why you keep saying that that debt was "validated", when all you saw was a few old statements. How does that prove that (1) you're the person who contracted the debt and (2) you're the person who actually obtained the goods/services/money for which they issued the statements. Where's the proof that they advised you of your rights under Regulation Z? What about a signed application form? Anything with your signature on it? Something saying you agreed to pay interest at a particular rate? Without that stuff, there's been no "validation".

When a debt is validated, what do they need to send me?

Kelly, the reason why your debt may seem disproportionate to what you think is is, is because of the late fees and interest. Those grow like wild mushrooms once you default, but they can be negotiated. Keep me posted on what else goes on with this.