Debt Validation Provided - Should I dispute?
Date: Mon, 01/24/2011 - 20:48
I've sent a debt validation letter to a creditor. I received a notice in the mail telling me that I owed about $1,400, though they only provided statements from the credit card showing a $50 balance. Can the rest be in fees? Is it even possible to add $1,350 on what they claim is a $50 debt? Should I contact them and ask them to explain how they came up with the $1,400 amount?
Thanks,
C
Thanks,
C
You can always contact the creditor and ask them to clarify the
You can always contact the creditor and ask them to clarify the amount. It is quite surprising to note that on a $50 debt the creditor has added a fees of $1,400. Nevertheless, your creditor will be able to let you know more in this regard and clarify your doubts.
Is it the original creditor or a debt collector? You can force
Is it the original creditor or a debt collector? You can force a debt collector to prove the account further....so far they have only shown you owe $50. You also need a copy of the agreement/contract that shows how much interest can accrue....$1350 sounds unusually steep. How old is the debt?
