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Need some help-Please!

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I received a letter from a collection atty who is representing Bank One on an account that I have been disputing with First USA. First USA was recently acquired by Bank One.

I disputed this account as not mine because I closed my account years ago. This balance appeared out of no where and as soon as I called them on it, I started getting statements and calls etc. After I sent my validation letter they never got back to me and ceased all collection so I just assumed that it went away.

This letter says that I signed an agreement which provides for resolution of claims through binding arbitration. Well, first I signed a contract with First USA. If they were acquired by Bank One would I be bound to their rules now?

Should I send this firm copies of what I sent to First USA or should I just tell them that I want them to validate and let them do legwork? I suppose it is possible that First USA has no info to back up their claim.

Any assistance would be appreciated.



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First of all, had you received any of those 'change in terms' things from BankOne when they took over your FUSA account ?? They sneak these damned arbitration agreements into these terms and unless you notify them in writing that you DO NOT agree to the terms, then, by doing nothing, you "agree" by default !! Sneaky and underhanded, but they're all doing it these days.

Definitely dispute this, especially if BankOne took over your FUSA account AFTER you closed it 3 years ago.

[Edit by LadynRed on Monday, February 24, 2003 @ 09:53 AM]

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Thanks for the reply, but I am not even sure that the lingo regarding binding arbitration was in my original contract since that was opened years ago.

This account was charged off and First USA has never replied to any of my requests for validation.

Do you suggest sending a validation request to these clowns and hope that they go away. They cannot proceed with any kind of arbitration unless they validate, right??

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I am attempting to draft my validation letter to these losers. I just discovered that although First USA never replied to my dispute letter this did go to a CA (Creditors Interchange) and I did try to settle with them because I thought it was a Visa acct of mine which I actually had with Bank One. Once I figured it out, I sent validation letter to Creditors Interchange and never heard back. And now its gone to these losers.

Hopefully this will mean they can't validate.

Should I mention this to them (the above info), or should I simply say that I dispute this amount as not mine (which I do because it is not)??


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