Collection Agency and Unknown Debt
Date: Sun, 08/09/2009 - 20:24
:roll:
Once upon a time I used a Bank of America (ne MBNA ne...) credit card. Statements came in envelopes that did not appear to be what they were. I was late a number of times on payments and seemed never able to login to the internet site to make online payments. Then came a day I wanted to cancel the card. My customer care person dissuaded me saying, keep it, it has been around a long time, it will be good for your credit rating!!!
I replied I did not intend to use it. Advised to destroy card for safety, I did.
So now I have forgotten all about this card. Well, along comes a charge that I was unaware of - it was the auto renewal of a membership - I had totally forgotten about it.
I did not pay attention to statements because I was not using my card - what card? Then I get letter from collection agency - debt was sold to the company. How much debt? CA could only give bottom line and from Bank of America - from Bank of America I learned it was AAA renewal for $100.25 but now I owe more than $300 and due to nasty in Equifax, I cannot get credit and creditors are cancelling my cards left and right-
1. How handle CA - I am told I should not settle
2. How reinstate crdicards that were in good standing
3. How fix Equifax
4. etc
I could not find letter from Bank of America - emails appeared to be spamk and no phone calls ever received
Once upon a time I used a Bank of America (ne MBNA ne...) credit card. Statements came in envelopes that did not appear to be what they were. I was late a number of times on payments and seemed never able to login to the internet site to make online payments. Then came a day I wanted to cancel the card. My customer care person dissuaded me saying, keep it, it has been around a long time, it will be good for your credit rating!!!
I replied I did not intend to use it. Advised to destroy card for safety, I did.
So now I have forgotten all about this card. Well, along comes a charge that I was unaware of - it was the auto renewal of a membership - I had totally forgotten about it.
I did not pay attention to statements because I was not using my card - what card? Then I get letter from collection agency - debt was sold to the company. How much debt? CA could only give bottom line and from Bank of America - from Bank of America I learned it was AAA renewal for $100.25 but now I owe more than $300 and due to nasty in Equifax, I cannot get credit and creditors are cancelling my cards left and right-
1. How handle CA - I am told I should not settle
2. How reinstate crdicards that were in good standing
3. How fix Equifax
4. etc
I could not find letter from Bank of America - emails appeared to be spamk and no phone calls ever received
Have you asked for debt validation from the collection agency? I
Have you asked for debt validation from the collection agency? If you have not done so, send them a DV letter by certified mail now.
Now, if they validate the debt, try to negotiate for PFD and pay off the debt in full, if they do not agree to settle the debt for less. Under the FCRA, the negative item may stay in your report for seven years and you cannot get it removed, if it is correct. However, you can take a try to remove it, by disputing it with Equifax.
