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Do I really owe you $314.00? Please provide me with detail.

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mtmissiontothepoor



Joined: 15 Jul 2008
mtmissiontothepoor's page
Posts: 1



77 Magic Points
Subject: Do I really owe you $314.00? Please provide me with detail.
 
 Posted on Tue Jul 15, 2008 7:04 am  
I have paid all my debts in 2007. How do I get a new debt of $314.00? I have moved out the States since 2002 and have not used any credit card. I am confused now. Please help! Thanks
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3172



1095 Magic Points
 
 Posted on Wed Jul 16, 2008 3:04 pm  
To whom do you owe the debt? Do you have anymore information to give us so that we can try to help you find more information and you can get this all cleared up.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2977



4361 Magic Points
 
 Posted on Thu Jul 17, 2008 4:10 pm  
We would definatley need more info. Can they validate the debt? Get us some more info and we will do everything we can to help
 
erb1953



Joined: 31 Dec 2007
erb1953's page
Posts: 629



-19 Magic Points
 
 Posted on Fri Jul 18, 2008 1:27 am  
You must give more information. This is not a bill site. The debt validation is a good idea fireyone.
 
anthony

anthony

Joined: 31 Jul 2006
anthony's page
Posts: 507



12662 Magic Points
 
 Posted on Fri Jul 18, 2008 7:31 am  
Hi mtmissiontothepoor
I think that $314.00 may be any credit card due which you have forgot to pay and the creditor has reported it to the bureau. All you need to do now is to send a debt validation letter to the creditor whose name appears in your report. If they can validate your debt, then negotiate for a PFD and pay off the debt. But if they cannot validate the debt, send a dispute letter to the credit bureaus asking them to delete the listing.
_________________
Anthony Marx

A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible.
You can also visit my blog
http://financewatchonline.blogspot.com
 
erb1953



Joined: 31 Dec 2007
erb1953's page
Posts: 629



-19 Magic Points
 
 Posted on Sat Jul 19, 2008 12:47 pm  
If you can get a settlement you should just pay it off and get rid of it, after you get debt validation of course. You should be able to settle this out for about $250 or so.
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2977



4361 Magic Points
 
 Posted on Sat Jul 19, 2008 1:05 pm  
That would be a pretty good deal and for that price I would take it, esp. if it is in SOL. If it is let go for years they can add sooo much interest and then won't settle for that kind of amount. Believe me I know this first hand.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3172



1095 Magic Points
 
 Posted on Sat Jul 19, 2008 10:10 pm  
Depends on how desperate they are, these collection agencies buy this old debt for pennies on the dollar. So as long as they make a profit, they are happy. But the bigger the profit the better.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2977



4361 Magic Points
 
 Posted on Mon Jul 21, 2008 12:57 am  
Ne3ver thought of that. My one debt though started at $300 and in 7 years is now over $1600. Last time they called they wanted a $1300 and no less. They been trying to get this for a few months. that is over a thousand dollars more than I used.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3172



1095 Magic Points
 
 Posted on Mon Jul 21, 2008 2:59 am  
I know, I think they should have a limit as to what they are allowed to charge, it gets crazy. then some third party buys them for pennies on a dollar and then tries to get the full amount out of you. It is a rip off game.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2977



4361 Magic Points
 
 Posted on Tue Jul 22, 2008 1:07 am  
That is true and really aggravates me. It doesn't give me any motivation to even pay. If it was the original debt I would have gotten rid of it long ago.
 
carol

carol

Joined: 27 Jun 2006
carol's page
Posts: 401



10920 Magic Points
 
 Posted on Tue Jul 22, 2008 11:48 am  
Yes, the CA purchases these debt at even less that half the actual amount but try to get more than double the actual debt by adding interest to it. If they can manage to get back the full amount of the debt, they are at huge gain. Moreover, after taking the money, they even do not bother to delete the listing from the credit report. So when repaying the debt, we should negotiate till the end for pay for deletion and get that in writing.
_________________
Keep in touch
Carol
 
JPolito830



Joined: 21 Jul 2008
JPolito830's page
Posts: 28
Location: Richmond, VA


948 Magic Points
 
 Posted on Tue Jul 22, 2008 2:48 pm  
Wow thats just wrong IMO...especially if what Carol is saying is true. Anyone else agree with her?
_________________
Searching for debt consolidation assistance.
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2977



4361 Magic Points
 
 Posted on Tue Jul 22, 2008 9:33 pm  
I have always agreed that they are blood hounds. they prey on the weak and financially unstable people. Don't you think that a good percentage of us would purchase and pay off our own debt if we were given that option? I know I would but when dealing with the Original creditor I was never given a chance to clear my debt by getting at least some decent deal. Makes you wonder why they have these collection agencies. We wouldn't need half of those bottom feeders if we aere given the opportunity to get the deal they did. It would also probaly help get rid of some of the harrassment in the industry.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3172



1095 Magic Points
 
 Posted on Wed Jul 23, 2008 11:26 pm  
I know for sure that Carol is right, these sharks are called "junk debt or zombie debt" buyers, just google either one and you will see a ton of them. The will purchase the old debt dirt cheap, but the problem with this is that they often do not get all the original paperwork or original contracts with the account. therefore it is very hard for them to do the debt validation, many times they can not unless the are representing the original creditor. Just be sure that you know who you are dealing with, you can do this by a simple debt validation letter.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
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