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Collections- credit card

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tedbr62

Guest
What is the name of your state? What is the name of your state? Iowa
Help! I was contacted by CAMCO(collection agency) last week and they claim I owe $2,278.00..that may be true--been along time over 13 years ago and this is the latest in along while that I have heard about this account with citibank Visa , Sioux Falls, SD.
I gave them my banking information(like a fool) and then went to my bank and stopped payment on the check by phone. Today I recieved a letter stating that they would be taking the $700 settlement payment(of course they have not recieved anything) Is their a statue of limitations or can they attempt to collect on this for a long time to come? And what is considered a reasonable payment plan if they can keep contacting me? How do I get them to give me the original information on this credit card account to verify it is mine? They got very rude when I informed them I stopped payment. And now because of my own foolishness they have my banking info:( What do I do at this point? Anything? or Nothing? Thanks for any help..:)
 


Ladynred

Senior Member
DO NOT PAY THEM ANYTHING !!!!! Don't even TALK to them except to get a mailing address ! Over at www.cardreport.com there is a very long thread (several actually) about CAMCO and how to handle them.

The debt is WAY past the Statute of Limitations if the last payment ever made was that long ago ! They cannot sue you for this debt, and even if they try, you can have it thrown out based on the SOL.

Send these scumbags a Cease and Desist letter and in it state that they are NEVER to contact you about this debt again as the SOL has expired. You also must say that any actions on their part to have the account reposted to your credit report is a violation of the FCRA and you can sue them. You will find excellent C&D letters over at www.creditnet.com under Discussions. You have to register, but its free. You MUST send the letter Certified, return receipt requested, and keep the green receipts !!!

CAMCO is NOTORIOUS for buying up very old debts and trying to collect on them. Apparently they have recently bought a LOT of these old accounts and people are getting letters like yours left and right.

Legally, they can't touch your bankaccount w/o getting a judgment first, but I'd keep an eye on the bank account AND your credit report for a while.
 
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tedbr62

Guest
Thank You!! I will do that immediately upon reading up on this at the URL you sent! Thanks so very much!! God Bless You--I have had many sleepless nights in the past week over this issue..Thanks Rhonda
 

bigun

Senior Member
God Gawd Ladynred what did Camco do? Looks like they went dumpster diving and bought every piece of 10 plus years chargedoff debt in the country. These guys need to get nailed but good!
 

Ladynred

Senior Member
Yeah.. no kidding. Maybe that lawyer will add them to the Class Action suit. I hope so, I'd love to see them get slammed !
 

Ladynred

Senior Member
Guess what folks.. I just found out my fiance has gotten one of these damnable CAMCO letters too !!! He's been hounded by them for 2 years for an old Chase account (which I suspect is past the SOL) and now he just got one for an old Citibank account. The letter says it was a 'Citibank account formerly held by Fourscore Resource Capital", which I'm assuming is another CA (anyone know ?)

The kicker is, NEITHER of these accounts shows on 2 of the 3 credit reports he pulled a year ago ! They're just not there. I'm fairly certain that these are both past the SOL as is the habit of these dirtbags. This latest letter is dated 7/16, so the 30-day window is almost gone, and even if we write a validation demand, they won't get it in time.

My fiance has lost a lot of his old records in the last 2 moves, and I'm fairly certain he doesn't have any records for these debts, so how we prove the expired SOL (either IL or NY, both 6 year limits) I'm not sure. The fact that NEITHER showed up on his CR's a year ago is VERY suspicious. If they'd dropped off, then their past the SOL in both states.

:mad:

PS - I looked up Fourscore, they ARE a collection agency.. so this is at least the 2nd sale of this dinosaur Citibank account.
 
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smorr

Member
collections - credit card

I'm having the same problem, but not with the agencies you referenced. Mine is a CitiBank Card - closed back in late 1996 or early 97. An acquisition company from New York (I live in Mass.) bought this, supposedly - but I'm not sure when. I did some research - and found out that this acquisition company didn't even come into existence to do business in Mass. until Aug. 1999! The amount on the card at the time it was closed was approx. $5700. This company who bought it gave it to an attorney recently (collections atty) in Mass. who has added another $5000 plus in interest and is now looking to collect. Here's one of two kickers. #1 the card was obtained with the intention of helping an old boyfriend get on his feet. With a $5K limit, he racked up $4700 of it in one to two billing periods - then I couldn't pay it - the boyfriend has since split - I'm not sure where to find him - I'm stuck with this debt. Kicker #2 - I'm afraid that even if I file for bankruptcy (which I'm seriously thinking of), this attorney will see through every loophole and make my life miserable anyway since he's also a bankruptcy attorney (how convenient). I work for attorney's one of which is attempting to help me file for personal bankruptcy. I've fought other credit collectors before and got payment agreements - I'm not so sure I'll be as lucky with this one. I understand this attorney has already been investigated by my local attorney general for unfair practices. Any ideas? Anyone - I need a second opinion. Thanks :confused:
 

bigun

Senior Member
You need to know when the last payment was made. In other words, when did they begin to assess a late fee? What do you mean closed? Is this when it was charged off or, soemtime before when they told you not to use the card again. This is important. According to www.creditinfocenter.com the SOL in MA. is 6 years so, you are very close.

Ask your lawyer about the advisability of sending a valadation letter to the collections lawyer.
 

smorr

Member
credit collection

Yes - it was when the account was charged off - it was obtained in Nov. 1995 - but by Nov. 1996 I was only able to pay about $200 toward the debt, maybe $300, but finances were so bad (I was supporting this slug that had used the card) that I was unable to pay anything - including my rent at the time. That payment was made around mid-1996. I don't know exactly how long it was before they considered it a charged off account.

And, yes you are absolutely right - the acquisition company may have gotten this just before the 6 year statute, which puts me in a bad position.

Am I able to communicate w/CitiBank now to request a copy of the last payment record they have? Or will they refuse since it's out of their hands?

The only correspondence I ever received from the acquisition company was a 'generic' letter talking about their promise to keep my information private (privacy letter), but the letter referenced no account number, nothing that indicated they were the owners of this account or that they purchased this - this letter was sent to me in July of 2001. No calls, nothing - until this recent letter in June of this year from the attorneys giving a balance due of $10,762.00. The only proof the acquisition company sent me of the debt was an affidavit signed by their keeper of records stating the account was theirs, and I owed a principal balance plus interest at 12% accruing to July 2000 and notarized by the attorney. (remember the acqusition co didn't come into existence until Aug. '99) I have no address to write to these people, any correspondence from them has the attorney's return address on it, but their a NY corp. Go figure.

I'm puzzled - my attorney says the best way out is to threaten or file bankruptcy - they'll get nothing - but I'm afraid I'll lose more then they will, but at the same time, I can't pay this off either.

:(
 

bigun

Senior Member
I think it is important to know exactly what month you last made a payment. If it was mid 1996 then, that would be june or July and you beat the clock. Don't worry about the chargeoff date that doesn't concern you except it'll be approximately 180 days after the last payment.
I think I'd just lay real low. Bk is always an option should you get sued. Do you have an old crdit report that might show a chargeoff date or, a date of last activity? If you don't have one, don't order one for awhile.

Ladynred-could you direct her to Why Chat's site? This guy is a retired lawyer with a neat website that has all sorts of SOL statutes for each state. If Ladynred doesn't respond soon, I'll dig aroung and post it for you.
 

Ladynred

Senior Member
WhyChat's site

http://community-2.webtv.net/Y-chat/WhyChatsCredit/

My suggestion to you would be to send this CA a validation demand. Use one of the letters with questionairre attached and make sure you ask for dates. There's a good one over at www.faircreditmovement.org. This will do a couple of things: it will force them to stop collection actions until they produce validation, and it will delay them even longer so that if the SOL is close you can get past it.. if it hasn't expired already.
 
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smorr

Member
credit card problems

Thanks to both bigun and ladynred for your advice and the url. Since this is my work e-mail (don't have it at home - computer's too old....!) it's difficult to work openly but I'll do what I can. I do have an old credit report (actually one from each major reporting agency) from back in Nov. 2000. I'll check through them and see what they say about charge off dates, etc. I'll get back to both of you and let you know what I find. In the meantime, my atty is looking over forms for bankruptcy - this may be my only way out, but i'm used to fighting and getting solutions - i don't really see bankruptcy as a solution - but i may not have a choice - there are a couple other debts still to be negotiated although not nearly as large,but adds to the whole pic. Thanks again! :cool:
 
T

tedbr62

Guest
CAMCO

Hi~ I'm from Iowa. I sent a cease and desist letter to CAMCO and return reciept--This CAMCO just called again to say they would quit communicating with me but they were presiding to sue me and take me to court. Camco told me it was Federal law that they had to contact me to tell me via phone that they recieved my letter and they were plannng to see me in court. Can they do this legally with the SOL being so overly gone..?Been at least 1991 since they got a payment from me. Thanks tedbr62
 

bigun

Senior Member
Ted,

They just told you a lie. No Federal law says they have to call and tell you they are filing suit. The law says that they MAY call and inform you of legal action and not violate the C&D letter.

If they sue, you have to show up in court and site the SOL as a defense.
 

bigun

Senior Member
Let me make a suggestion. File a complaint online with the FTC {www.ftc.gov} and, the BBB {www.bbb.org} and also, contact the Iowa AG's office.
Camco and Calvary Investments have purchased massive quanties of very old debt and are trying to collect. Many memebers of personal finance and consumer issues message boards are complaining to authorities about this pratice. I'd suggest you add your voice.
 

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