IngridA Posted February 16, 2007 Report Share Posted February 16, 2007 Here are the numbers, per their letter:Account balance: $583.55Written in big bold letters "SAVE $204.24 WITH YOUR TAX REFUND"Letter goes on to state:"If the amount of $455.14 is received on or before March 5, 2007, CA will close this account and update as "settled in full"..."Well, my calculator says $583.55 - 204.24 = $379.31Am I missing something? Link to comment Share on other sites More sharing options...
astiman Posted February 16, 2007 Report Share Posted February 16, 2007 You haven't missed a thing.They are already lying to you.Unless you want a brand new PAID collection on your report, don't deal with them.Are they actually authorized to collect this? Link to comment Share on other sites More sharing options...
nascar Posted February 16, 2007 Report Share Posted February 16, 2007 "SAVE $204.24 WITH YOUR TAX REFUND"SAVE $455.14 BY TELLING THEM TO SHOVE IT. Link to comment Share on other sites More sharing options...
Methuss Posted February 16, 2007 Report Share Posted February 16, 2007 They are probably charging a fee of $75.83 to process the settlement; which would not be legal. That amount is 12.99% annual; about the same as a credit card rate. Link to comment Share on other sites More sharing options...
IHateCAs Posted February 16, 2007 Report Share Posted February 16, 2007 Call and find out. Link to comment Share on other sites More sharing options...
gypsie Posted February 17, 2007 Report Share Posted February 17, 2007 They are probably charging a fee of $75.83 to process the settlement; which would not be legal. That amount is 12.99% annual; about the same as a credit card rate.Typical JDB mentality- "all debtors are morons"For what it's worth, it may be fair to say- you've got proof of an illegal tactic now Link to comment Share on other sites More sharing options...
IHateCAs Posted February 17, 2007 Report Share Posted February 17, 2007 Typical JDB mentality- "all debtors are morons"For what it's worth, it may be fair to say- you've got proof of an illegal tactic nowOr a math error. Link to comment Share on other sites More sharing options...
retmar Posted February 18, 2007 Report Share Posted February 18, 2007 Send them an ITS to either close, delete, no sell, transfer, or reassign guarantee, and go eat maggot droppings, OR, be named as a defendant in a civil suit.What they have sent is a violation in itself. Remember, you are the "least sophisicated consumer". Their letter is completely misleading in it's entire structure and verbiage. Link to comment Share on other sites More sharing options...
IngridA Posted February 19, 2007 Author Report Share Posted February 19, 2007 Thanks for the replies! I actually hadn't thought about it being a possible illegal tactic, but it makes sense...And come to think of it, I don't recall this particular CA being in charge of this account....I'll have to check my paperwork....I guess a DV will be in order, and then I'll see where that leads.... Link to comment Share on other sites More sharing options...
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