Asset Recovery Solutions, LLC
Date: Tue, 02/01/2011 - 21:44
I've recently received a letter from this company and I can't find anything out about them. It's the standard 30 day letter, but the strangest thing is that I haven't heard squat about this particular debt in about 2 years. I know that we had a payment arrangement made with University of Phoenix and that they stopped communicating, but its been so long that I don't remember if it was paid off or not.
I just need some help figuring out what my options are. I will be contacting a family member tomorrow who works in mitigation and is an officer of the court to find out what I can do. I live in the state of Georgia and the statute of limitations is 4 years.
It's not like I don't want to pay my debt, even though University of Phoenix was misleading on certain parts, but rather that I can't. This is of course if I have not in fact paid it all off. I'm trying to get my life back together while stuck to a part time job only. Any help the community can provide will be very helpful and much appreciated.
Hi! Welcome to the forums! Ask the collection agency to validate
Hi!
Welcome to the forums!
Ask the collection agency to validate the debt. The collection agency is required to provide you with the written proof that the account has been sold or assigned to them. Other than that, they have to provide you with the copy of your current payment history, a copy of the original agreement made between you and the original creditor. Thereby. you can know whether you really the debt or not. You can also know if they're trying to collect on the money owed to University Of Phoneix.
Now comes the second part. If you really owe the debt, take steps to settle the debt. If you don't, then send a cease and desist letter.
You can know about the date on which you got delinquent on the account from the copy of the payment history. Check whether 4 years have passed from that date. If yes, then the SOL period on that debt has expired. So, the collection agency can't sue you for non repayment of dues any more. If the SOL period is not yet over, then they can sue you. In that case, you should negotiate a settlement with the CA.
Know about the steps to settle the debt from the following page: http://www.debtconsolidationcare.com/steps.html
Thanks. What can I do if they do not respond to my DV request? I
Thanks. What can I do if they do not respond to my DV request? I've come across a few sources that suggest a C&D letter However, what does this mean as far as the debt goes? I just want to make sure I'm clear on things before I send them off. Thanks.
