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Working with Protocol Recovery? What next?

Date: Fri, 04/01/2011 - 08:20

Submitted by DCDentist
on Fri, 04/01/2011 - 08:20

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Total Replies: 3


During my first semester at college, my friend got into a bit of trouble with his citibank MTV University credit card ( a special card through MTV for college kids), he racked up thousands of dollars in a month and freaked out calling as many as people as he could to sign up for the card online - there was a promotion that if you sign up someone you get a credit to your balance. So over the phone I signed up with my friend, therefore I never read over the fine print and recieved my card about two or three weeks later - I used the card a few times over a few weeks and forgot about it, I didn't recieved any bills for what I owed. That was 5 years ago.

A few days ago I recieved a call, from Protocol about this debt, and found that from the originally $300 or $400 on the card, the new total with fees were some how $3,800 -I'm not really sure about that amount, I don' t think it is right, so they are going to send me something in the mail -to prove that its my debt.

I was not foreseeing this occur but I know this is my debt and it should be paid. I'm in grad school and I'm going to request a settlement.

After I get validation on this debt (still REALLY confused by the amount):confused:, what should be my next move? And is Protocol a good agency to work with?


You didn't find it strange that while you were using the card you didn't get a single bill? Didn't you call to find out why you weren't getting them? The amount owed depends on the contract, it is very easy for a balance to balloon to insane amounts from late fees, over the limit fees and the interest just continuing to accumulate. You really should not have ignored this.

How could you not see this occurring?? You got a card, you used it and what???

Well make sure they are at least collecting the correct amount, also what state are you in? Some states have a SOL lower than 5 years. When you get the letter you send them a debt validation letter and do not pay anything until they can prove the debt is yours, they are the correct ones to collect and that the amount is correct.


lrhall41

Submitted by goldenbast on Fri, 04/01/2011 - 09:01

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To be truthful, I was young and at the time, probably just forgot about it and/or didn't care at that time. When Protocol called me, it took me a while to remember this debt.

I have no idea why I wasn't receiving a bill, but I assume it might have been sent to my campus mailbox address that I never checked, It never came to my apartment mailbox, which I usually get my mail. As said, I'm not sure.

But I know I have to pay it. I live in Louisiana, but at the time I lived and went to school in New York.

Even with the SOL, would it still be best to pay it anyway, would paying the full amount be best or should I settle?. Its already on my credit report, it wasn't there when I checked my credit about three years ago.


lrhall41

Submitted by DCDentist on Fri, 04/01/2011 - 11:01

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Well you go by the state you currently reside in and that SOL for credit card debt is 3 years...however it will stay on your report for 7 years. You should see if you can negotiate a pay for delete, otherwise why bother if they won't work with you on it?

Send them a letter demanding they prove what they have placed on your credit report, by law they have to validate the debt. Do not pay a single dime until they do.


lrhall41

Submitted by goldenbast on Sat, 04/02/2011 - 08:16

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