re:loan point usa

What state are you in? Loan point is not legal in several states. So, you should check whether or not this company is legal in your state. If they have the license to operate in your state, then you'll have to pay only the principal amount. Otherwise, you need to pay the principal amount including the interests and fees. As you have not made any payments on the loan, so they have assigned the account to a collection agency. You can make a written request for a validation letter to the CA. If the debt is validated, then it is better for you to settle the debt.

You should ask the collection agency to validate the debt. Unless the collection agency validates the debt, you're not liable for paying it to them. Rather, you can send a cease and desist letter to the CA if they don't validate the debt.