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lindsey3175

Guest
What is the name of your state? ct

Whats the best why to negotate with Ca. I have been dealing with Colorado Capital about a 2 year old providian account. For 2 years i was not charged interest. When they sent me a letter saying the bought my account in 1/2002 they demanded the amount due plus interest. I disputed and they sent me a letter about the default interest in my orignal contract and tried to say they drop the intrest if i used auto draft ( I don't think so). I then sent a valdation letter and received a letter back saying they will get me the paperwork but sent a copy of providians agreement. He they went on to say they are now asking for the full balance all at once because my agreements allows them do do that. In a nut shell he pretty much said since i had the right to as for credit validtion they could use there right to enforce the contract. MInd you i have already sent them $150.00 and my balance has not gone down and he also held my second check for 4 days and they have not sent me statment of recipt of my payment. Plus the re summited it to transunion now i have two of the same negative items. I refuse to pay the full amount to these guys what do i do?:confused:
 


Ladynred

Senior Member
Once you send your validation demand, they MUST stop ALL collection activity until they can send you TRUE proof that you owe the debt and that they have the RIGHT to collect it from you !
If they've received your letter, and they are still demanding payment, they have broken the law under the FDCPA. Did you send the validation demand certified mail, RRR ??? If not, they'll deny they ever got it and you have no proof that they did :(

Yes, they can demand full payment per the contract, they all have an accelerated collections clause in them, but that doesn't mean this CA isn't full of baloney either. Sending you a copy of Providians agreement doesn' mean a thing unless they've sent you a copy of it with YOUR signature on it. By sending them a payment, you've pretty much admitted already that the debt is yours though.

What do you do ? They MUST provide the validation and cease collection until they do. They must also note on your credit reports that the account is in dispute. If they haven't done that, then they're also in violation of the FCRA (Fair Credit Reporting Act).

What you do next depends on whether or not they validate.. and if you sent the letter certified so you have proof that you requested validation and they received the letter. You can try to settle IF they validate, but I wouldn't do anything before they provide proof.
 
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lindsey3175

Guest
Thanks for your help. I did not send my valdation letter cert. mail but i have his letter in proof that he recieved my letter. I am not disputeing that i owe the orignal amount owed $1277.00. This account went 2 years with no interest added too it !!. Now its going up byleaps and bounds. They won't tell me when the bought the account so i can't figure how the came to the 1777.00 that i now owe. His numbers don't add up correctly What i am upset about is there collecting tactics this company colorado Capital was already fined S10,000 by the BBB. First they say they can take payments,then the can drop intrest if i supply my ck account,now they demand it is full( This happened because I ased to validate this debt). The man i am dealing with is conadsending and rude. I just want to pay my $1277.00 and be done they making it more diffcult than necessary.As far as the new entry in the new report it has no note of being under dispute.They pulled my credit in June 2002(without my knowledge) and put they new entry in. So now I just sit and wait for return mail with my contract. My other question is would it be worth while to try and contact Providian to pay the $1277.00 and see if they can help me. I just don't trust this Ca.
 

JETX

Senior Member
THUMP!!! As, I just jumped in with both feet!

Some problems here.....
Ladynred: The writer did send a demand for validation and the CA sent back a copy of the original signed agreement. Though we (all of us) agree that is not sufficient validation, it is a response from the CA and does NOT mean that they are in breach of the FDCPA.

Also, you said "They (I assume you meen the CA) must also note on your credit reports that the account is in dispute. If they haven't done that, then they're also in violation of the FCRA (Fair Credit Reporting Act)." That is not correct. The CRA (Credit Reporting Agency) must note the 'in dispute', but only after receiving a written request for investigation by the debtor (not the CA).

Now, back to Lindseys post:
1) "Whats the best why to negotate with Ca."
This is like asking how high is too high. There really is no answer. You simply try to negotiate the best you can, realizing that the CA is under no obligation to accept ANY of your negotiations. Simply, there is a line somewhere between the two of you... that being the most you will pay and the least that they will accept. No one can predict where that line is.

2) "For 2 years i was not charged interest. When they sent me a letter saying the bought my account in 1/2002 they demanded the amount due plus interest."
Simply, the creditor has the right to charge the interest rate that you agreed to pay... in the written agreement. The fact that they didn't charge it at some time does not preclude them from every charging it.... or even retroactively charging it.

3) "I disputed and they sent me a letter about the default interest in my orignal contract and tried to say they drop the intrest if i used auto draft ( I don't think so)."
Your post isn't clear here... it appears that your dispute was as to the charging of interest. If so, then they clearly can do so (as noted in 2 above).

4) "I then sent a valdation letter and received a letter back saying they will get me the paperwork but sent a copy of providians agreement."
Your post is unclear here also (and that is part of Ladynred's post). Did the copy they sent have your signature on it.... or was it just a generic one?? If your signature was on it (as I presume), then they have validated the existence of the debt... but not the amounts nor their right to collect. Send them another demand letter asking for a FULL accounting of the debt, payments made, interest charged, etc., plus something to prove their right to collect.

5) "Plus the re summited it to transunion now i have two of the same negative items."
Send a letter to the CRA asking them to validate the two debts. They will investigate and remove one if found to be a duplicate.

Finally, as to your last post, I understand your frustration and anger with dealing with this CA, but it does not appear that they have done anything wrong. Insist on an accounting of the charges and then make arrangements to pay them.
 
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lindsey3175

Guest
When I send my valdation letter I recieved a letter back from the Ca with a genric copy of Providians agreement WITHOUT MY SIGNATURE. He said he was getting my info from Providian. My sending a valdation opened a can a worms. I understand i have a debt to pay but i wanted proof of this interest. He would not give me any other information besides saying he would send me a copy of this contract. We went from payments to demand in full. What upsets me is I don't want these people having access to my checking account so i have to be punished with interest. What if i did not have a checking account? Plus the numbers they have don't added up I sent 150.00 in two weeks the balance is more with these payments then without. Also it seem the more i ask questions i get deeper in trouble.
 

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