Who should I send the money to?
Date: Fri, 09/25/2009 - 18:50
Quote:Originally Posted by arlinda83Ok. I have a debt of $367 th
Quote:
Originally Posted by arlinda83 Ok. I have a debt of $367 that I owe to Wachovia Bank for overdraft charges in a checking account from unauthorized debits. I am willing to pay it off but now it has gone to RJM Acquisitions which is another collection agency. I was wondering should I pay the balance straight to Wachovia or RJM? If RJM, will they send it to Wachovia? |
First you need to make sure they have a legal right to collect that debt. If they haven't sent you a letter of collection tell them to do so, its a federal law that they send you a dunning letter (letter of collection) 5 days after thier first initial contact with you, then you can request validation within the 30 day window of receipt of that letter. That's for your protection, to prove they have a legal right to collect and to prove you owe the debt. Otherwise, the debt could end up being sold to other collection agencies over and over again.
Oh ok. i did receive a letter of collection from them last month
Oh ok. i did receive a letter of collection from them last month and on the letter it advised me that i can settle this debt through 3 payment options: pay the balance in full, make two smaller payments in half, or 4 monthly payments of $91.75. So whenever a letter like this one from a collection agency says "This is an attempt to collect a debt, all information will be used for that purpose. and other information about unless you notify us within 30 days that this debt is valid, etc. which this letter does, does that mean that RJM does have a legal right to collect and I won't have to do a DV letter and I can safely send my payments to them and because of that info that they have a legal right to collect?
[QUOTE=arlinda83;477081]So whenever a letter like this one from
[QUOTE=arlinda83;477081]So whenever a letter like this one from a collection agency says "This is an attempt to collect a debt, all information will be used for that purpose. and other information about unless you notify us within 30 days that this debt is valid, etc. which this letter does, does that mean that RJM does have a legal right to collect and I won't have to do a DV letter and I can safely send my payments to them and because of that info that they have a legal right to collect?[/QUOTE]
No. Bot necessarily so. The text stamped/printed on the letter is required under Federal and some State laws, to identify that the sender is a debt collector. That's it. It proves absolutely nothing about whether they have the legal right or authority to collect on this account.
In your position, I'd want to see validation in writing. You have that right, if you choose to exercise it.
Keep us posted...
Wulf
Alright. thanks! i sure will. I'll consider sending them a DV
Alright. thanks! i sure will. I'll consider sending them a DV letter then to be sure before sending them payment.
The long and short of it can be found in my signature. The four
The long and short of it can be found in my signature. The four 'no's' are not just a clever saying.
Good luck, and keep us posted.