Calvary Portfolio Group??
Date: Fri, 06/11/2010 - 09:12
I received a call from a woman yesterday claiming to be from Calvary... a collection agency. She called from 918-665-5600.
She stated that my account from HSBC with my Orchard Bank Mastercard was now in her office with a balance of almost $1900! The credit limit on my card was only $300!
She stated that the account was accruing 5% interest daily (since when, I have no idea) and that in order to stop the intrest from accruing, she would need to set up some kind of payment arrangments with me.
I was literally walking into work as she called so I told her that I didn't have time to talk to her right now but I would look into the matter. She was polite and that was the end of the conversation.
How on earth could I possibly owe more than six times what my card limit is??? Last time I knew, the balance on the card was over $500... but $1900?!?!?! Can then legally charge me 5% interest each day??
Would it be better or pay the original creditor? I am in no way able to pay $1900 to this CA (nor do I want to have any business with them).
Any suggestions on what to do?
She stated that my account from HSBC with my Orchard Bank Mastercard was now in her office with a balance of almost $1900! The credit limit on my card was only $300!
She stated that the account was accruing 5% interest daily (since when, I have no idea) and that in order to stop the intrest from accruing, she would need to set up some kind of payment arrangments with me.
I was literally walking into work as she called so I told her that I didn't have time to talk to her right now but I would look into the matter. She was polite and that was the end of the conversation.
How on earth could I possibly owe more than six times what my card limit is??? Last time I knew, the balance on the card was over $500... but $1900?!?!?! Can then legally charge me 5% interest each day??
Would it be better or pay the original creditor? I am in no way able to pay $1900 to this CA (nor do I want to have any business with them).
Any suggestions on what to do?
Find out whether the collection agency has the right to collect
Find out whether the collection agency has the right to collect on the debt, and get an accounting of what they are saying you owe them before you pay anything. You can also call the original creditor and find out what's going on. Then if the collection agency has the legal right to collect, you can send them a letter saying you'd like to deal with the creditor and not them. Make sure you send all of these letters certified mail or by fax with a receipt.
