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My Situation - Need Info


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Hello all nice to be a part of the forum. I have a question and concern about my specific situation. Here goes.

I got fired from my job and I don't have any income right now. I am relying on my savings and the generosity of my family and friends right now while I find another job. I have been able to stay current with all my creditors but 1, Bank of America. I have been slightly behind on most of my payments right now but BOA was the first to start calling. I was very cordial and explained my situation with them. I gave them answers to all the questions they wanted to know about sources of income and expenses I had. After doing this for the 2nd time in a week I had asked them nicely to cease and desist calling my phone and that I would keep them posted about my situation every other week. They did not mention anything about any adverse effects of my request. I called them a twice to keep them up to speed on my progress, which was none, but I did call. On the second call they immediately told me that they had sent me to collections. At this point I was only 35 days past due or so. They told me that since I requested the cease and desist they automatically sent me to collections. I had an impeccable history with them up to this point. I was a little upset that they pulled the rug out from under me so quick. So when I got a letter from IC Systems to collect I sent them a debt validation letter to try and break their balls a little bit. Thing is though I keep getting statements from BOA. I called and they wont even talk to me. They just keep referring me to IC Systems. Now that I took up 10 minutes of your life reading this I have a few questions.

Is it frequent that someone is sent to collections after 40 days past due?

Is the debt validation road a good one to travel for this?

Why do I keep getting bills from BOA?

Can they keep tacking on interest and late fees even though they sent me to collections?

If I send the 45 day courtesy letter and they do not respond, how do you go about suing them? Do you come out of pocket for that? Or can you do it yourself?

Thanks in advance for any insights.

J

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Is it frequent that someone is sent to collections after 40 days past due?

Is the debt validation road a good one to travel for this?

Why do I keep getting bills from BOA?

Can they keep tacking on interest and late fees even though they sent me to collections?

If I send the 45 day courtesy letter and they do not respond, how do you go about suing them? Do you come out of pocket for that? Or can you do it yourself?

Maybe, Probably has nothing to do with you personally...more likely they're "adjusting" their P&L.

Yes. Just because you owe someone doesn't mean the CA has the right person, the right account, the right amount, or the right to collect in your state. Even though BOA keeps refering you to them, it still doesn't prove they've got everything right.

BOA still owns the account. You still owe it.

Yes.

"Courtesy letter"? Not sure what you mean. Nothing BOA has done up to this point warrants a suit. You might be able to sue the CA if you can prove they've violated the FDCPA, but that's a long shot...

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From what I have been able to determine from reading around here and other sources, if you tell a creditor to cease and desist then they do usually send you to collections because you basically told them not to talk to you any more. Since you did send the C&D then it does not surprise me that they will not talk to you because if they did talk to you then they would violate the C&D.

IMHO, you reacted too quickly with the C&D. You haven't left them any other options to collect. I have also found that to really get any type of quality results from creditors when you are out of work (like was a couple years ago) that you have to get past the front-line people and get to a manager. But that is just my opinion and experience - YMMV.

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Yeah, looking back I am regretting the cease & desist. I might have jumped the gun a bit. But I have a few other questions such as:

What if the collector doesn't respond to my request for debt validation? What can you sue for with a violation of the FDCPA?

I really want to try and get a pay for delete on this account. I would pay .50 cent on the dollar. Do you think this is a reasonable goal in a situation such as mine?

Thank you for the feedback.

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What if the collector doesn't respond to my request for debt validation? What can you sue for with a violation of the FDCPA?

I really want to try and get a pay for delete on this account. I would pay .50 cent on the dollar. Do you think this is a reasonable goal in a situation such as mine?

Thank you for the feedback.

The CA really doesn't have to respond to your validation request other than to provide you with the name and address of the OC. That's all they're obligated to provide. As for a PFD at 50%, it may be too early in the game for that. The debt needs to be charged off and sold, and maybe sold again before 50% is a profit to someone. As long as BOA still owns the debt, you're probably not going to settle for much less than you owe.

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Thanks working poor. That's the kind of answer I needed. I figured its way too early for a settlement I just needed to hear it. Suing is not a viable option for violation of the FDCPA unless it's big money I guess.

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Thanks working poor. That's the kind of answer I needed. I figured its way too early for a settlement I just needed to hear it. Suing is not a viable option for violation of the FDCPA unless it's big money I guess.

Some people may disagree with this, but if I get a legitimate violation, I would just sit on it and wait to use it as a counterclaim if I get sued. It's only $1,000 (maybe) so it would be a headache to initiate and follow through with. But if THEY initiate the suit and you file a counterclaim, it may make the other side more open to a settlement in your favor, or perhaps even go away.

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