Need some advice
Date: Thu, 02/16/2006 - 09:05
I got a call last night from the infamous "Academy Collection Services". They have my old QVC/Ge Money Bank account. The lady tried to get me to agree to a settlement or payments arrangements on the balance ($670). I didn't/wouldn't do either so she hung up. I haven't received anything in writing from them (she said it was mailed on February 10) so I called Accounts Receivable Management who previously had the account. They said they had it from 8/05-1/06 but never received any payments (don't remember them calling me or writing to me about it). So then I called QVC/GE Moneybank and they couldn't tell me ANYTHING, nothing not when it was opened, not when the last payment was NOTHING. So obviously I'm not doing much until I get official correspondence from Academy but then what? I think the SOL is 5 years in my state (Iowa) and from my credit report it was opened in 1999. We are in debt consolidation/mgmt with T&C but they don't have this account (forgot about it) and (of course) Academy told me they don't work with them.
Any words of wisdom from all you knowledgeable people out there? Thanks (sorry this is so long...)
Hi Sue, you have participated in this forum regularly and have h
Hi Sue, you have participated in this forum regularly and have helped others with your suggestions. I am sure you have also framed your move on how to deal in this case. One important thing you need to know about this account is the date of last payment made. You can only be sure about the expiry of SOL if the activity had been somewhere in the year 2000-2001. If you do not remember making a payment after this period, your account might be at the risk of within the statutes.
Verbal communications are not that much effective in comparison to written communications. If your account has not been sold to any collection agency, then your original creditor will be able to give information about this account. Write a letter to QVC/GE Moneybank and express your concern to know the details of the account and the interest calculations. They should respond back to you in writing with all info. Send your letter through certified mail with return receipt requested. If done in this way, you have your legal basis covered. At any point of time, you can prove the matter that you were willing to take responsibility of this account. It was the turn of the company to respond back to you but they failed to do so. Situations will mostly go to your favor from the legal point of view.
While dealing with the collection agency, you need to exercise the fdcpa law. You must get the details of this account in writing as per the validation rules. If they assure you sending the letter, call them and get your address verified. You will come to know if they have mailed it in a wrong address or if they have sent any.
In the debt validation details, the collection agency has to give you the necessary details about the accounts. The date of last activity can also be requested from them.
Do not make any payment agreement or sign a promissory note until the debt has been fully verified and free of dispute.
Sue, Do you have the address of the CA? If you do, send them
Sue,
Do you have the address of the CA? If you do, send them a debt validation letter by certfied mail. I think you know the routine :D I believe the SOL starts from the date of the last activity on the account. Hang in there!
Thanks David and Mishele, both of you make me think I'm on the r
Thanks David and Mishele, both of you make me think I'm on the right track. I actually talked to someone again tonight and told him (he was really nice and couldn't believe she hung up on me) that I wasn't commiting (sp?) to anything or talking to anyone until I have something in writing from them. I am going to send the debt validation letter off early next week. Thanks for all your help and stay tuned!!