loan
Date: Thu, 05/20/2010 - 09:27
I received a letter today from a loan company that I had to default with about 3 years ago. I tried several times to make payment arrangements with them, but unfortunately, they weren't willing to accept them or negotiate at that time. The letter I received today offered me a settlement amount due immediately (an outragiously high amount that I can't afford). The letter said that if I send the amount then all civil proceedings will be ceased. I didn't even know they had started!! How can I find out if there is an actual civil case in the works or if this is just a collection tactic? Thank for your help.
Was this letter received in the mail? Was this a collection agen
Was this letter received in the mail? Was this a collection agency? Send them a debt validation letter, certifed, return receipt requested and make them validate this debt before you do anything! You have 30 days to request they send you debt validation, that is a federal law (FDCPA). All collection efforts must stop until they validate this debt, that includes any civil suits also.
