DISCOVERmydebt Posted March 17, 2005 Report Share Posted March 17, 2005 Hi I am new to the forum, I feel very fortunate to have found this site. I feel so lost by my debt & it really helps me to read all of the posts located here..thanks!On to my inquiry, I have had a debt since I was 20 & I now am 25..It is with Discover. They gave me a huge limit of 5,000 for someone my age. Of course I spent it! That was all me, but then they started to tell me my payments were always late, they didn't get posted on time, whatever they could give me. Then I lost my job, & for about 2 months I could not pay! Well I make a huge payment, where they tell me that I am paid up for now, I didn't use the card again. At that time the card was up to 3,200. Well all of a sudden, I get a collection letter, & the bill is up to 5,101! It has now been 4 yrs, I have tried to resolve it with Discover/collections, I even got a "charge off" card with Capital. Where they take over my debt & give me a credit line to help pay off & gain new at the same time. Well 3 months into that they say that they haven't gotten one of my payments & they discontinue my card!!! Now I have been sent back to my original credit collector with the bill being back up to 5,101! I have no idea what to do Does anyone have any suggestions? Do I try to call the collection agency and again try to make arrangements? Or do I go through a consolidating place? I would really appreciate any advice at this point..thanks so much!D.m.d Link to comment Share on other sites More sharing options...
crofttk Posted March 17, 2005 Report Share Posted March 17, 2005 Hmmm...I'm having a little trouble following the exact sequence here, can you fill in dates (month/yr) for these so folks (me at least) can understand better ?Discover Card full at 5000 - 2 months payments missed - The huge payment - (Was that like $1800 ???)Collection letter & bill (4 years later ?) - Got "charge off" card with Capitol - After the huge payment did you pay so a minmum payment every month then ?Do you have cancelled checks or receipts for payments they claim they didn't get or were late ?Sorry for all the questions but I think these are important details to help you the most. Link to comment Share on other sites More sharing options...
Mr. Levitow Posted March 17, 2005 Report Share Posted March 17, 2005 Hey there, I'm not one of the experts, but I have been corrected by them plenty of times. I think it is midnite in Michigan so I'll make this as quick as I can (you should be drinking at this time of nite, it's the third friday of the week). I'll go ahead and list the questions I have for you.1. When did Discover start to tell you your payments were late? Were they actually late to begin with?2. Do you have any proof of the "huge payment" that you made to Discover? Do you have proof of any payments that you made? You'll need that in order to start getting this in order.3. That thing with capital is real bad dude, once you get this resolved, operate cash only and consider moving to Liberia.Clarification on those first two will help (ignore the third one). Suggestion, do not do debt consolidation, it is just another scam to gobble up your money. Also, STOP dealing with people over the phone, use the mail so you have a paper trail. I think you need to punch up a letter to discover asking why they haven't adjusted the debt amount for payments that you made (if you have proof that you paid); include copies of payments made (check carbons, statements from discover thanking you for payment, etc). If the debt is this old and you have been sending money, I think it needs to be settled. I'll leave you hanging right here for now until the experts get their rest and wake up. Try surfing this site with the search function and educating yourself, there is a lot of good info. I think if you do that you will answer a lot your own questions as I did last year. Link to comment Share on other sites More sharing options...
DocDon Posted March 17, 2005 Report Share Posted March 17, 2005 I concur with this suggestion:Get a payment history and match it to your financial statements. It's not beyond a CC company to 'withold' payment. That was the pretty much the basis of the huge class action against Providian.There has to be some verification of payment being made on time on your end.... Link to comment Share on other sites More sharing options...
ghacorp Posted March 17, 2005 Report Share Posted March 17, 2005 Ask for an explanation and obtain copies of your payment history and statements. You are probably a good candidate for credit counseling. The CCC folks can probably get them to eliminate your interest charges, reverse late charges and maybe even a portion of the principle. Link to comment Share on other sites More sharing options...
divemedic Posted March 17, 2005 Report Share Posted March 17, 2005 I am familiar with the Cap1 charge off card. It is a major scam. It is only sent to customers who are beyond SOL. Here is how it works:They send you an offer to pay your old CO and get a new CC at the same time. You get a CC with the old CO charged to it. You pay the card off, your CL is what the old CO used to be.The reason they do this is to reset the SOL AND the 7 year reporting window. It is legal, here is how:You have paid off your old, SOL account and replaced it with a NEW CC. It is like an A&S, but in the OC's favor.Cap1 gets a comission on this (like a JDB) and gets a grateful CC customer. Link to comment Share on other sites More sharing options...
DISCOVERmydebt Posted March 18, 2005 Author Report Share Posted March 18, 2005 Hello,Wow I am so grateful & impressed that all of you would take the time to try & help me!! Ok sorry last night was a little foggy, I was so frustrated because I just got this letter from Discover well actually the Midland agency of collections. They told me that I have a chance to pay off my 5,101.00 bill, but that they were reducing it to a one time fee of 2,200.00. Fine, but the only thing is they gave me this same deal sometime ago. Which was 2,400.00 & I borrowed the money from my parents, so I do have a paper trail. Though it was not the full 2,400.00 I didn't have the money, they agreed to take 4 payments of 500.00 and some change. Within a few months period. Well I paid twice which was 1,000.00 then all of a sudden, I'm getting a letter saying I didn't pay it/or they didn't get it ontime so it is null & void. They also refused to post the money that I had already given them!!! So my bill went back up to the 5,101.00, then Capital One gives me a card, which I thought was great! Rebuild my credit while paying off the old, little did I know. Which someone posted here, was that they were really screwing me over, resetting my account & then cancelling my card. Before the bill was even due, saying I never sent a payment (So again I am out money...200.00)! So now I am back to square one, I have faxed Discover/Midland agency, showing them the proof of my payments, & they still do not respond, & when they do it is someone calling me being very rude & hanging up on me:( I really don't appreciate when they call, telling me I am a loser & that I will never get anything in life because I screwed them over! Thanks so much for your help everyone! I hope to someday get this resolved. I am so young and trying to get an apartment and move, but it seems that it won't happen at this rate.Tausha Link to comment Share on other sites More sharing options...
divemedic Posted March 18, 2005 Report Share Posted March 18, 2005 Claiming you didn't pay works in your favor. DV them, see what they can produce. Link to comment Share on other sites More sharing options...
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