Just received this COLLECTION LETTer/settlement letter....

[scriptgurl]

I just received this letter, do you see any violations? I have never received anything from them before and they are NOT listed on my CR...This is a new one to me..

NAFS 05/10/2005

National Action Financial Services Inc.

18006956126

Previous creditor: Providian N.B.

Current creditor: Capital One

Reference :222.........

Balance: $4144.31

Dear SCRIPTGURL,

WE HAVE BEEN AUTHORIZED TO OFFER YOU A SETTLEMENT ON THE ABOVE REFERENCED ACCOUNT. IN ORDER TO TAKE ADVANTAGE OF THIS OFFER, YOUR PAYMENT MUST BE RECEIVED IN OUR OFFICE ON OR BEFORE THE DATE LISTED BELOW. SEMD YOUR CHECK OR MONEY ORDER IN THE ENCLOSED ENVELOPE ALONG WITH THE TOP PORTION OF THIS LETTER. IN THE EVENT THAT YOU ARE UNABLE TO MAKE THE SETTLEMENT PAYMENT WITHIN THE TIME FRAME INDICATED, CALL OUR OFFICE PRIOR TO HTE DEADLINE DATE. IT MAY BE POSSIBLE TO EXTEND THE DEADLINE UNDER CERTAIN CIRCUMSTANCES.

YOU ACTUALLY OWE: $4144.31

SETTLEMENT AMOUNT : $1243.29

AMOUNT MUST BE RECEIVED BY : 05/27/05

WE TAKE PRIDE IN CONDUCTING OURSELVES DIFFERENTLY THAN OTHERS YOU MAY HAVE DEALT WITH IN THE PAST. WE LOOK FORWARD TO THE OPPORTUNITY TO PROVE IT BY WORKING WITH YOU TO RESOLVE THIS SITUATION. OUR STAFF IS TRAINED TO CONDUCT THEMSELVES IN A BUSINESSLIKE AND PROFESSIONAL MANNER.

PLEASE CONTACT Sandy Faulk AT 1800------- WITHIN SEVEN DAYS FOR DETAILS.

THIS IS A COMMUNICATION FROM A DEBT COLLECTOR. THIS IS AN ATTEMPT TO COLLECT A DEBT AND ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.

__________________________________________________________

this account is listed on my CR report as :

from investigation from 04/05

providian acct #40......

date opened 01/00

HC $3400

Activity description: Transferred/sold/paid

date reported 03/05

DOL 05/01

CO amount --

current status: CO; acct type-revolving;whose acct: individual; addtnl information- Charged off account;acct transferred or sold

now this is from credit file as of 05/07/05

prov #40..........

date opened 01/00

HC 3400

activity descrp. : Paid and Closed

date reported 05/05

date of last act: 05/01

CO amount ---

date closed:12/01

current status: CO; acct typ: revolv; whose acct: individual; additnl info: account closed by consumer;paid charge off;account transferred or sold;credit card

AND..... reported as

05/07/05

Capital one bank

acct# prov-22.....

date opened-___

HighCredit $4144 <<<<<<this just came on

Past due$4144 as of 05/05, now both

creditor classification : financial are reporting this ACCT.

date reported 04/05

bal 4144

past due 4144

date of last activity :06/01

current status : over 120 days past due; acct type- OPEN; type of loan- factoring company acct; whose acct-individual; additional info- collection acct

**these were sent from equifax after a dispute

they claim are reported correctly by creditor

Do you see any violations, ifso what are they?

[codename_fortyseven]

factoring account is a violation

[scriptgurl]

doesnt the fact that the original creditor Charged off the account and closed the account make it reported wrong because capital one bank now has the account showing 120 days past due, and open account, and factoring account(as you replied violation) and collection account?

So, from what I understand about the FCRA and FDCPA,

for every month it is reported like that it is $1000 fine :

CA violate 15 USC 1692e(2)(A) fasley characterizing account as "open"

CA violate 15 USC 1692e(8) communicating credit informaction which is known to be false, by reporting the account "open"

CA violate 15 USC 1692f by using unfair or unconscionable means to collect or attempt to collect ant debt by reporting the account as "open" account to deceive current and potential creditors and to negatively impact credit scores.

I am still looking for other violations but it really doesnt matter how many I find does it (only for purposes of disputing)?

I have already disputed with CA and CRA and CRA came back verified as reported correctly.

Waiting for replies form CA have already received the green card back.

Once I have disputed with CA and CRA (I have not disputed with the Company that sent letter above because I just got it) , can the company that sent the letter above still contact me?

[scriptgurl]

anyone?

[Jazkal]

If this is the first letter they sent, I'd find a good lawyer in your city that handles FDCPA or your states version. This letter doesn't have the dunning, and is a good canidate for a class action, IMO (I am not a lawyer).

These people have no idea what they are doing.

Have you moved lately? Since the debt was first created? I ask because they may have sent the first dunning letter to an old address, or at least thats what they will say.

[scriptgurl]

No, I havent moved in the last 10 years. I have pulled all 3 credit reports and this company NAFS is not on any of them.. Not even as an inquiry.

[Jazkal]

how old is the debt? When did you stop making payments on it?

Do you what the SOL is for your state? I forgot to mention that being agressive on debts that are still with SOL, can be dangerous if you don't know what your doing.

And you need to wait 5 days from when you recieved that letter before they are in violation. They could still send you a dunning letter, but then that first letter would be considered "overshadowing" and it's still a possible class action.

[scriptgurl]

how old is the debt? When did you stop making payments on it?

opened in 01/2000 ; DOL 04/2001

Do you what the SOL is for your state?

3 years

this letter was dated on 05/10/05