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I have a PayDay Loan on my credit report but the amount that they are charging me and the amount originally owing is two different amounts? I mailed a validation letter and their response was a bill with a different amount than what is reported to the credit bureaus? Is this legit and can I reqest that it be removed from my credit report?
Ruth
Dispute the debt with the bureaus. Wait for them to do their bit and then see how things go.
Ruth, I am wondering if some of these fees are associated with interest and not paying on the account. I know with credit cards they continue to add over the limit fees and late payment fees for as long as they are trying to collect on the account. Of course this means the bill just keeps getting higher and higher and with that the amount of interest is tacking on to the bill too.
If they properly validate this debt and you have done as Carol suggested then you may want to ask for a debt settlement amount. Sometimes they will settle these debts for a lot less than owed.