My wife payed the reduced "settlement" amount to a collection agency for an old Capital One credit card in February.She thought the account was settled and closed as they said in their letters. Now in July she receives another notice/offer regarding the same account from an entirely different collection agency!!! I don’t trust these outfits. How do you know they are properly recording anything on your behalf that will help your credit rating.
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Fri, Jul 23, 2010
July 23rd, 2010 at 3:02 pm
If you have a letter when you paid stating the the account is paid in full and settled, then you’re okay and you don’t have to deal with the new collection agency.
Send the collection agency a letter via Certified Mail + Return Receipt (NOT regular mail) stating:
Per the Fair Debt Collection Practices Act, cease all communications with me about debt, which has already been satisfied in full. (Enclose settlement letter). This letter has been mailed via Certified Mail with Return Receipt. Receipt of this letter is being officially time stamped.
July 23rd, 2010 at 3:02 pm
Send the collection agency a copy of the letter, 1 regular 1 certified return receipt. Also inform them that unless this matter is dropped upon receipt of your letter, you will file a complaint with the Federal Trade Commission. Their toll free # 1-877-382-4357
July 23rd, 2010 at 3:02 pm
The collection agency is hoping you didn’t save any of the paperwork. That’s why you always should get any settlement agreement in writing and keep it along with your payment proof, forever.
Just sent a certified, return receipt letter to the new collection agency telling them to cease all contact as the debt was previously settled. Attach a copy of the settlement letter.
July 23rd, 2010 at 3:02 pm
How old was the debt? There is a statute of limitations on credit card debt raging from 3-6 years depending on your state. Some companies called scavenger debt collectors purchase very old debt that sometimes is legally too old for them to collect.
They have to prove that you still owe the debt before they can collect. If they can’t, then your don’t have to pay. Your debt may have been sold to multiple collection agencies. Check the link below for more info.
Also check the FTC website on this subject.
good luck
July 23rd, 2010 at 3:02 pm
hi,
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They helped me to save more than 30% …
If you are serious about that, Enter http://WorkingDebtRediction.info
I hope that helps
July 23rd, 2010 at 7:37 pm
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July 28th, 2010 at 3:59 pm
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