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OC's collection dept. Not bound by FDCPA?


ceowens
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I have a friend with a credit card in default. She is going through divorce and is not able to pay. Her intentions are to let it go to charge-off and then try to settle with CA (for deletion if it ever gets on the report) after that. Problem is, the CCC just won't seem to let it go! It is now 210 days (6 months) in default and the collections dept. of the OC is still calling her several times a day. I was under the impression that it would be CO after 120 days. I'm guessing they are not bound by FDCPA. She is getting very frustrated with her lack of power against them. Suggestions? When will these boogers let go???

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I sent all of my OC's which were Credit Cards a "Cease and Desist" letter within 60 days of my knowing I wasn't going to be able to pay and they stopped calling. Never heard very much from CA's. If I did, I told them they were violating whatever law I had read about (I had read up on the subject trying to decide whether to file BK or not)and hung up on them. They quit calling very quickly. That was 7 years ago, maybe they are more organized, etc. now. Has she done that? The no harrassment law applies to OC and CA. Anyone, no matter the state. If I'm wrong, someone chime in here, please.

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The OC is usually not bound by the FDCPA because the OC is usually not using a name other than its own to collect a debt that is owed to them.

If the OC is using a name other than their own to collect a debt, then the OC may (and very likely will) meet the definition of "debt collector" under Section 1692a(6).

Is the OC using its OWN name on the collection letters?

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The OC is usually not bound by the FDCPA because the OC is usually not using a name other than its own to collect a debt that is owed to them.

If the OC is using a name other than their own to collect a debt, then the OC may (and very likely will) meet the definition of "debt collector" under Section 1692a(6).

Is the OC using its OWN name on the collection letters?

No specific collection letter yet. Just her usual monthly CC statement that says "your acct. is now 180 days past due. Please contact us, blah, blah, blah." The minimum balance due now is up to like $1600 to bring it current. But they are calling her every day about it. And, not only that, but other creditors are apparently looking at her CR, because now they are all calling, even before her payments are 30 days late. In the past she has paid late, but before the 30 days was up, and just added the late fee. Now, about 15 days into the month, everybody starts calling to make sure they are getting paid that month. Its a mess. She is contacting an atty next week to see about filing BK. But, she is self-employed, owns a house and rental properties, and is afraid she is going to loose everything. Which is worse? Filing BK and having about $50,000 in CC debt discharged or letting them all go to CO and fighting CAs to keep judgemtns / leins at bay? Wouldnt she be better off filing and starting over? There is the possibility that there is no equity in any of her properties..........

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If we are talking about a single delinquent bill in the amount of roughly $1500, I would consider an Accord and Satisfaction.

Whether or not it is a good idea to resort to A and S will depend on many factors. Which credit card company are we talking about here? Feel free to PM me if you are hesitant about divulging that info here.

An A and S that is tendered under the right circumstances and in the right manner can produce a very desirable result.

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If we are talking about a single delinquent bill in the amount of roughly $1500, I would consider an Accord and Satisfaction.

Whether or not it is a good idea to resort to A and S will depend on many factors. Which credit card company are we talking about here? Feel free to PM me if you are hesitant about divulging that info here.

An A and S that is tendered under the right circumstances and in the right manner can produce a very desirable result.

No, no no. Wish it were that simple. $1600 is the amount they want to bring the acct, current. The balance on the card is like $12,000. I can't remember who she said it was since she has so many bills we talk about, but I am thinking it is Citibank.

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If it IS Citibank, that is important to know as Citibank is the company that I feel most able to assist a consumer with.

Please find out if it is Citibank.

If it is, please PM me or post it here. If it is Citibank, I will ask you or her to get the Card Agreement in hand.

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