Help me understand

[courtney091082]

I have an old acct with Cap1 that is charged off, now with a CA

CA is NCO,

CL was $300..which I am sure I had maxed out then went 30 day ... 60 day ... 120 day and so on.....

NCO says I owe $3397.97

WTF? Isn't that a little high? g

What can I do if anything have not DV'd yet...

[Anonymous]

Make sure that you DV them and have them itemize the fees!!  That isn't the first I have heard of a CA doing that.  Slime balls.

[Anonymous]

When was the account charged off and what state do you live in?  Interest still accures even after the CO. 

Message Edited by guiness56 on 03-03-2008 09:57 AM

[llecs]

If they sent you an initial collection letter that states you have 30 days to dispute and so on and so forth, then sent that DV ASAP. I have a 100% kill rate with NCO just by doing that.

[Anonymous]

What if you never get an inital collection letter, it just shows up on your CR?

[courtney091082]

I understand that interest is still accruing, but come on...$3000 intereste yeah right

I am in TX the 30 days to DV doesn't matter here, I think I can DV at anytime....

I plan on doing so now, this was a KMart Cap1 Card, our KMart went out of business...and I never had a CL besides $300 (it is not like that is a limit reduction, like I had a $2500-3000 CL to start with) 

DOLA on my TU report is OCT 2003...SOL in TX is 4 yrs so that would have been OCT 2007...so I am out of SOL right?

Should I DV?

[llecs]

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guiness56 wrote:

What if you never get an inital collection letter, it just shows up on your CR?

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Then I'd fall back to more of a defensive position and figure SOL, DOFD, etc. I'd also figure out what date the CRA says is the drop off date. If out of SOL, I'd DV and dispute, if I had one. If within SOL, I'd save the money for worst-case scenario, DV and dispute, if applicable, and DV again and again (over several months). If all else fails, then I'd ready a PFD in full.

I didn't start repair until Aug. and have an AFNI acct like this. Received the initial letter way back when but didn't care. Now it's on each CRA and DVs are unresponded to. So, only option I see is to PFD.

[Anonymous]

seems you are past SOL - so DV them (and use Lonnster's letter)

[courtney091082]

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llecs wrote:

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guiness56 wrote:

What if you never get an inital collection letter, it just shows up on your CR?

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Then I'd fall back to more of a defensive position and figure SOL, DOFD, etc. I'd also figure out what date the CRA says is the drop off date. If out of SOL, I'd DV and dispute, if I had one. If within SOL, I'd save the money for worst-case scenario, DV and dispute, if applicable, and DV again and again (over several months). If all else fails, then I'd ready a PFD in full.

I didn't start repair until Aug. and have an AFNI acct like this. Received the initial letter way back when but didn't care. Now it's on each CRA and DVs are unresponded to. So, only option I see is to PFD.

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I thought they have to respond to a DV within 30 days or stop reporting?

[courtney091082]

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Lady_Scarlet wrote:

seems you are past SOL - so DV them (and use Lonnster's letter)

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Thanks I am going to DV today, I hope something good comes of this!!!