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Debt settlement

Date: Thu, 01/10/2013 - 16:46
Submitted by on Thu, 01/10/2013 - 16:46
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I was behind on my Bof A Visa, was offered a settlement through FIA card Services( June 2011). They applied my settlement as a normal payment and did not close/settle with BofA, but reassured me each time over 5 months i called thereafter it was still being processed(the settlement). I was 120 days on mortgage and 90 days on another card, which I succeeded in settling during that time. BofA says it is between myself and FIA, but FIA refused to send me anyhting in writing.  I have written down names and times for each conversation over that time period, but no recorded calls/written letter from them. Never paid remaining balance on card. BofA closed account April 2012, a law office in South Carolina has picked up this debt and is calling me to collect on it now. I have yet to receive a validation of debt letter, told them I would call when I received one and told them to stop calling me. The same person from the collection firm/law firm called again today. Where do I start with this? I submitted a complaint to the FTC for FIACard Svcs, and am disputing the debt with the bureaus/collector in SC. Thank you!


Hi Dave,

Most collection departments over the last couple years have taken steps to archive the recordings of all their collection phone calls. It's a best practice that is encouraged by the CFPB.

Anyway, it is quite possible that FIA may have a recording of the call. It's also quite possible that the notes on your account with FIA may also reflect the terms and conditions of your settlement.

I would call FIA immediately and be professional but relentless. Explain that your account is now with a collection attorney and that you had previously settled it.

DO NOT MENTION THAT YOU DON'T HAVE A LETTER.

Just keep it simple and explain that you need a Zero Balance letter from them to forward to the attorney.

If they give you any trouble go up the ladder and talk to as many managers or supervisors as it takes.

If you still lack the cooperation, ask them what their policies are in respect to recording conversations and maintaining those recordings. If they go back far enough to where they should still have your recording, ask them for a copy. If they refuse, call a lawyer and have them subpoena the recording and the notes on your account.

Please feel to follow-up. Good luck.


Submitted by Jared Strauss on Sun, 02/24/2013 - 20:36

Jared Strauss

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Unfortunately you do not have a leg to stand on without the settlement offer IN WRITING. You should have gotten it PRIOR to paying the settlement.

You have no grounds to dispute the debt with the credit bureaus nor can you verbally cease a desist a collection agency/law office. Sure you can complain to the FTC but without written proof, it is a matter of he said, she said.
You could well end up being sued for the remaining balance, and your arguement will not hold up in court either. Sorry.


Submitted by SOAPLADY on Fri, 02/01/2013 - 20:00

SOAPLADY

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unfortunately without a letter -- you cannot do anything -- if it comes back to you like your situation, the only thing that you have to prove your case is the letter from the company --


Submitted by chrissyhen1 on Tue, 02/19/2013 - 11:13

chrissyhen1

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