Received validation, not sure what to do next?

Anonymous · ‎03-05-2009

I found out that a movie store never received a movie that I rented in Sept 2006. An ex bf swore to me that he dropped it off. I DV'd the company and received a response today.

All that was included in the envelop was a receipt for the video, a copy of my photo id, and a copy of the contract with the video store's name on it (no address or phone number) and then someone handwrote 277.34 x days + replace 1 on the contract. No information about the collection agency itself. On my credit report the company is asking for $344, the amount increases alot every month. They didn't send anything stating how they configured that amount or how much they want. Or even that they are the owners of the debt or even that they are a debt collector.

What should I do now? Do I just ask for a pfd? The amount is getting ridiculously high for one video, should I ask for a settlement? Would that make them mad to where they would sue me. It is still within SOL I want to take responsibility of this debt but I really think the amount is unfair. Is there a maximum amount of fees and interest they can charge in California? Sorry for the million-in-one questions....

Message Edited by Poorfico24 on 03-05-2009 11:52 AM

Anonymous · ‎03-05-2009

FDCPA only requires that, if requested, they send the name/address of the OC, amount of debt, and a copy of the debt or judgment.

You can try a PFD and offer a lower amount. If they were to decide to file suit, then you would have to work something out with them to get from having a judgment.

As for fees/interest, check your state statutes. See the link titled State Resources in my signature.

Anonymous · ‎03-05-2009

Thank you for your response. They didn't include their address or the debt amount. Could I use that in leverage in order to get a pfd? Or is that asking too much?

Message Edited by Poorfico24 on 03-05-2009 01:07 PM

Anonymous · ‎03-05-2009

Am I just blind? After reading the California state statues I can't find anywhere about interest. This is all I found but at the end of the page it says...

685.110. Nothing in this chapter affects the law relating to
prejudgment interest.

685.010. (a) Interest accrues at the rate of 10 percent per annum
on the principal amount of a money judgment remaining unsatisfied.
(b) The Legislature reserves the right to change the rate of
interest provided in subdivision (a) at any time to a rate of less
than 10 percent per annum, regardless of the date of entry of the
judgment or the date any obligation upon which the judgment is based
was incurred. A change in the rate of interest may be made
applicable only to the interest that accrues after the operative date
of the statute that changes the rate.

I guess there is just nothing I can do but give up, suck it up and pay for it

Anonymous · ‎03-05-2009

If you can afford to PIF in the event they were to sue, I would offer a PFD for a less than full amount.

If they won't accept that, you might offer a settlement amount without the PFD agreement and then try to GW it, it is a gamble though and you could end up it with it remaining until CRTP expires.