Chargeoff on Credit
Date: Wed, 05/18/2011 - 18:32
At the time this debt occurred I was without the money to pay the debt and I was waiting on some payments from GAP and the insurance company. They left me in this bind and Capital One didn't want to cooperate or work with me.
The situation I am in now is that I finally recovered the funds owed to me by GAP 2 years later. I would love to pay the folks owed, but I want validity and PRA won't provide that. They keep saying they have sent letters but I never receive anything.
Capital One states that they can not accept payment.
I am only 27 years old and I am ruined financially. I tried to get a business credit card for my non profit organization and I was denied based on 3 collection accounts (all 1 item but shown 3 different ways).
Tough situation. Lenders will not agree to lend you money after
Tough situation. Lenders will not agree to lend you money after finding several negative items on your credit report. You have to find out which collection agency is currently holding your account. You can ask Capital One about it. Once they reveal the name of the collection agency, you can negotiate a settlement with them directly. Request them to update the account status as "Paid in Full" or "Paid as Agreed" or "Paid as Settled". If this does not work out, then you'll have to deal with PRA. Yes, you are right. It is better to make any payment to the CA after receiving the validation letter. Send a written request to them to send you the DV letter via certified mail. See whether or not you get a dv letter this time.
Unfortuantely you are responsible for the gap portion to capital
Unfortuantely you are responsible for the gap portion to capital one....they are not really a party to your gap insurance. You have left this unpaid for two long.
Have you sent a DV letter to PRA in writing? Cap One might not be able to accept your payment but will they verify that PRA is the collection agency handling?
I know that Portfolio Recovery is a junk debt buyer. Is there a
I know that Portfolio Recovery is a junk debt buyer. Is there a way to also find what they paid for the debt in this discovery? Are there any sample documents to work with?
Bottom line on all of this is that I had about $20 dollars in my bank account at the time. I couldn't have paid it if I wanted to. I was making only enough money at my job to barely cover the car note and insurance.
PRS may be a junkk debt buyer but they also handle debt manageme
PRS may be a junkk debt buyer but they also handle debt management and receivables third party. If they did purchase it, what they paid for it wont be disclosed.
You had $20 at the time...what about over the last 2 years?
At the time an attorney was working on the case with me. We wer
At the time an attorney was working on the case with me. We were attempting to collect the funds from Gap to pay this debt, he was doing the work for free. I lost my job in August of 07, depleted my savings and then was hired for little money in November. I was robbing Peter to pay Paul so to speak for a few months in that time.
Ok I faxed off the validation letter today, I'll mail it in the
Ok I faxed off the validation letter today, I'll mail it in the morning along with a cease communication letter.
Well it has been a month since I sent over the letter asking for
Well it has been a month since I sent over the letter asking for validation information and no response has been received.
Any idea what my next course of action should be on this? I also haven't been called since the receipt of said letters.