debt verication letter.

I dont think thatthere is a time limit to validate a debt. forgive me if I am asking a stupid question, but I thought if it was a secured card , you could only charge for the amount you put into the card. How could you owe on this? I never had one of these , so i just dont know

It started out as a secured CC with Capital one ,I had to send a check for $99.00 and I had a $500.00 limit. Over the years my credit limit was raised. When I was unable to make even the minimum payments on it the credit limit was only $1,000.00. Now they are saying my balance is like $1800.... So now I don't know where to start. Can I offer the $1,000.00 and go from there?

Unless you live in a state like Texas, and maybe Florida-there may be others, there is no time limit to respond. In a few states, they have a certain time period to respond,others don't. I have been waiting for over a year and a half!!

So really this wasn't a secured card, if they raised limits,etc?

You can offer them a settlement, but they don't have to accept it.

If you offer anything, or they do, get it in writing, before you pay!..Good luck..karen :D

Absolutely, Karen is right! before you send in anything get all correspondence and agreements in writing. that will be a strong arsenal for you!

Is that enough proof that they own the debt?
I received a DV this week that had 14 months of statements but nothing showing the tranfer of debt from the Bank to the CA

You should definitely write back and demand not only a breakdown of the debt, but a signed contract as well, since they sound like they are charging interest, make sure you either agreed to this interest or it is legal in your state. Also demand they prove they have the legal right to collect...seriously, I'm dealing with -three- collection agencies that -all- say they own this one particular account...it is such a headache.

I did send out a letter, and requested the break down of what they say I owe, which I did in my initial letter in April, I again asked for proof that they own the debt,which again I did in my first letter. I told them I was hesitant to deal with them as their reputation wasn't good according to Budd Hibbs web site. I am in Massachusetts and the collection agency is Harris and Dial PC. right here in Mass. I told them once they provided me the additional information I asked for,then and only then would I talk.
I Also let them know that they only paid pennies on the dollar for this account.

They have sent you very good proof of this debt so far. If they have complied with a cost break down along with the documentation sent,they have more than enough for a court hearing. I would suggest two things. First call Cap 1 and see if they still own debt as they do not sell accounts as often as others do.Second if collector owns this account start settlement proceedings to clear this debt in writing.

They have not sent a cost break down yet, I have just sent out another letter requesting that.