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RE: Is this legal?

Date: Tue, 10/13/2009 - 19:38

Submitted by anonymous
on Tue, 10/13/2009 - 19:38

Posts: 202330 Credits: [Donate]

Total Replies: 2


I have a credit card that I was not able to pay on for the past two years. Before the account went delinquent i called the creditor and was told they could not help me because the account was not delinquent. When i was not able to make the payments anymore i was sent to a collection agency. I initially used $500.00 on the card which I am willing to pay now that I can afford to. My credit report indicate that I owe $1152.00 and that the debt was purchased at 1662.00. Is this legal. The debt has basically doubled trippled in the space of two years. Are usury laws applicable and how do i go about using or finding them. I am willing to settle the account but I dont feel like I should not pay for what was not used on the card. This is ridiculous. This should be illegal... I have sent the debt collection agency two validation letters and no response because i cant figure out how it got this high. Should I send them another validation letter? I am not sure what is the next step to be taken. Thanks in advance.


If you sent them a validation letter certified return receipt requested then that is all you need to do, just make sure you keep the signed receipt to prove they received it. A collection agency is suppose to stop all collection efforts until the debt is validated, if they continue to attempt to collect during the validation period or report on your credit report then they are in violation of the FDCPA and the FCRA, you could sue them for those violations for up to $1000.00. Also, there is a federal law that states a collection agency can't add interest or fees onto a debt unless there is a contract, but, you also need to look into your state collection laws to see what it may say in regards to that.


lrhall41

Submitted by Shazzers on Tue, 10/13/2009 - 19:44

( Posts: 17344 | Credits: )