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Rec'd Dunning letter.....have a question.

Date: Fri, 06/19/2009 - 10:42

Submitted by got2bkim
on Fri, 06/19/2009 - 10:42

Posts: 45 Credits: [Donate]

Total Replies: 2


I received a dunning letter today from Global Credit & Collections. They state that my debt for $5873.00 from Capital One has been placed with them. My account with Capital One is 134 days past due. When I spoke to them on the phone they were only willing to settle for $4900.00. Should I send them a debt validation request even though I am aware that I owe the debt? I live in Virginia, so I understand that they are likely to sue me. I have a relative who will loan me about $2800.00 to settle this, but don't know how long it would take me to come up with the figure they want.

I am also delinquent with Chase. Should I send Cap1 a settlement letter for the amount that I have and tell them that I am also trying to work out a settlement with Chase with the amount the relative will loan me? I have NO income & my husband's pay and hours have been reduced leaving barely enough to pay mortgage, insurance and groceries.

Thanks to everyone for any advice!


I would definitely send them a validation request for numerous reasons. You want to be certain they have the right to collect this debt, do they own it, are they simply collecting on behalf of the original creditor? Those are SOME of the reasons why it's always a good idea to make them provide proof this is a valid debt AND they either own it or have the legal right to collect on it. :)


lrhall41

Submitted by Shazzers on Fri, 06/19/2009 - 10:59

( Posts: 17344 | Credits: )


You also have a right to know how they came up with the interest and fees, make sure they are following the law and are charging the legal amount of fees & interest. I believe that collection agencies can't keep accruing interest and fees without a court order, unless they are representing the original creditor and it was stated so in the contract that YOU signed and agreed to.


lrhall41

Submitted by Shazzers on Fri, 06/19/2009 - 11:02

( Posts: 17344 | Credits: )