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I received a demand letter from a law firm claiming to represent Capital One regarding a debt of $5097.00. The letter states that I have 30 days after receiving the notice to dispute the validity of the debt.
What do I do? Do I write asking to dispute the debt? Should I send a pay for delete letter to the CA or to Capital One? I am expecting funds to come in within the next 60 days or so to pay the debt in full but now I am wondering if I should not just try and negotiate it down or just pay it and be done with it. What should I do?
do not pay yet
First you send a DV letter. Do you know what that is? it is a special kind of dispute.
do not pay yet
I have no idea what a DV letter is. I am totally new to this. What do I do?
dv letter
I am at work and on my BB. If you go through the link in my signature, there is page that has a link to my ehow about DV. There are also stickies at the top of this forum. I can explain more when I get back from work.
dv letter
Thank you. Any and all assistance you can provide will be most welcome.
dv letter
Also, what if the demand letter was sent to me without any proof of delivery from the law firm/CA? Can I require them to do this?
dv letter
So let's say I send the DV letter and they respond with all the information requested. Then what do I do? Start trying to negotiate? And I am assuming that I should wait as late within the 30 day window that I have to respond as possible? And were they required to send that demand letter with some sort of proof of delivery?
it depends on how things are going. The CA can keep calling until they receive the DV letter.
The law does not describe proof of delivery for letters from the CA or to the CA.
The appellate court has even assumed that the consumer verbally made a DV request
I have never heard of a CA being sued for failure to prove delivery of a initial dunning letter.
DV letter
thank you so much for your help. I got word today though that I will likely be receiving the funds I have been expecting in about two weeks that would enable me to pay off the entire debt. Would you recommend that I just send a pay for delete letter directly to Capital One and bypass this law firm/CA altogether? Or would it be best to send the DV letter, get a confirmation in writing from them that they are indeed representing CapOne, and then try a pay for delete approach?
no
Send the DV letter. you can call Capital one and ask if they sold the account. You need to pay the person that will give you best deal. The CA might settle for less. So might Crap 1 (i doubt it). find out if this is on your credit report
DV letters sent...now what do I do?
Hello again... I sent the DV letter just as you suggested and the calls have stopped. However, its now been 3 weeks and no response. Although, from what I have read, that is par for the course. I was wondering, though, assuming I do get a valid response, then what? I had been thinking that responding with a PFD request would be best but wouldn't that alert the CA that I had the money to pay and cause them to dig in their heels if they refused the PFD or claimed they could not do it? What is the best way to start this negotiation when and if it comes?
They have to provide provide of this debt before the can make any more collection attempts. this may mean that this debt is invalid. weeks is pretty short though. DO NOT PAY THEM UNTIL THEY CAN PROVE THIS DEBT.
Is this actually on your credit report? You have not mentioned this.
Look no response is normal and legal. It may mean this debt still belongs to Crap 1
DV letter response or lack of
Its currently on my CR as a charge off from Cap One. I sent another DV letter to a CA trying to collect on a Cap One credit card about 10 days ago, but I think they may have switched CAs because I have been getting more calls about my Cap One credit card but from a different CA now. The first DV letter I sent out was for an installment loan with Cap One.
The thing is I am expecting the funds to pay everything off in just a few weeks and I am wondering what to do if and when I do get any verifiable responses to these DV letters. Do I immediately follow up with a PFD? Do I offer to pay the whole thing or try to settle for a partial payment? I just don't know. The DV letters have been great so far for at least getting them to leave me alone after they send their initial collection letter, but I am trying to be proactive and plan my next line of attack to try and get my credit back in decent shape.
I would wait for a reply. this is a negotiation and it does not help to seem desperate
DV letter response
Oh no, please don't misunderstand me. I am not desperate at all. Your suggestion regarding the DV letters was GREAT!!! I am just trying to plan ahead as to what to do next SHOULD I get the requested verifiable response. I mean, what if there is NO response at all? Then what? Do I contact the CRAs and ask for the negative report to be removed and send them my docs? If they do respond with proper information, then what do I do? Offer up a PFD with payment in full? Or with a smaller sum that full payment? And if one offers a PFD with payment in full what is to stop them from just saying no and then digging in their heels because now they think I have the money to pay in full?
Like I said, I am not desperate, I am just trying to plan ahead and be prepared.
how old is this debt? what state do you live in?
Don't seem too eager. It would be best for them to open the negotiation.
DV letter response
Its only a few months old and I live in California. And you've been absolutely wonderful with your information. I am not trying to seem over eager, I am just trying to plan ahead for as many possible scenarios as I can. Like I said, I am expecting a large sum of money to be coming in in just a few weeks and I will want to get this wrapped up as soon as possible. But I just want to make sure that I do things in the smartest way possible.
well it may be that Crap one still ones the debt. they usually use the SOL for WV which is years
DV lack of response
So is is just best for me to just sit back and wait for a response from the CA as you suggested earlier? If I don't get a response at the end of 30 days should I send another DV letter worded a little more firmly?
sorry mistype years. No need to send two DV letters. Dispute the debt with the CRA. This probably won't work but it is worth a try. if the CRA does not delete you may need to write Crap 1 and find out if they own the debt.
DV lack of response
thanks Cinnamom. I will do that if no reply is received. And thanks for all your help so far and yet to come as I am sure I will have lots more questions until I get all this resolved. Once I get my funding in and all this taken care of I will certainly owe you a dinner. And if you are half as cute as your avatar I may fly to WV to deliver it myself! ;-)
three years is the SOL for VA where Crap 1 is and you are welcome
DV letter lack of response
Hey Cin, its now been almost 60 days since the first DV letter I sent out was received and no response. Almost 30 days now of the second one to the other CA. Should I do anything? The quiet has certainly been nice.
DV response received
Cin, I just got a response today from Cap One, not the CA that was calling me on the second DV letter I sent out to the second CA. They sent a copy of the customer agreement and the last 3 monthly statements but said that since the account was apparently initially set up either by phone or over the internet they do not have a paper application to send, but that the above verifies that they have a valid contract with me. So apparently the CA was just representing Cap One and they still retain the debt and are asking for payment in full. It states that they reserve the right to "take appropriate action if you fail to pay the balance in full." What do I do next? This is for a credit card account that I still check online on a regular basis. I am pretty sure I will be able to pay it off in the next couple of months but I still don't know exactly when. Should I call them? Explain my situation to them? Or just keep quiet?
OK jt, what is the DOFD, or when will this tradeline fall off. lotsa people are asking about CRap 1 today and I am getting confused.
DV letter response
Hi again Cin, as I stated on the other posting, the last payment I was able to make to them was in September of 2009. I've been unable to do anything since that time.
OK, well it sounds like they do have DV. you need to find out if the CA owns the debt and so has the right to negotiate a settlement
DV response
It seems pretty clear in the documents I received that its Cap One that still owns the debt and they are asking for payment in full and mentioned nothing of a settlement offer.
Well, I think it is time for a settlement.
So be careful about talking to them on the phone. In Credit Boards there are reports from someone that got a pfd from Crap1. However, it seems that they only talked about it on the phone. No one has confirmed. Their CS reps take unprofessional to new depths. Don't expect a PFD without a written agreement. Don't be fooled by a rep that says it over the phone, get a letter(or fax)
Crap1 sues people all the time, so if you can't get a PFD in writing consider a settlement for a lower amount. Paid if full is not better than paid in settlement. settlement means that you and Crap1 didn't agree about the amount. it does not make you a deadbeat.
DV response
The problem is Cin, that at this time I can't settle anything or make a payment. I have been told funds are coming but not when yet. It could be another 60 days, I am waiting to hear. Should I still try and talk to them?
Then go slow. Technically, it can't much worse until they file a lawsuit against you. I guess that MOV might help then.
DV response
How would a MOV help? And should I just call them and explain my situation? I want to pay them I just can't. At least not right now.
Mov probably wouldn't help I just think you need a little time. I think calling them would just tell them that the pressure is getting to you.
Have they contacted you since you received the DV response. I wouldn't make a move until they do.
Just wait until you hear something.
DV response
No, they have not contacted me since the DV response. Although I only got the response on the 20th, yesterday. But what you say makes sense as always. I will just wait until I hear from them. I can't do anything for them yet anyway.
think good thoughts
Cap One keeps changing law firms
Cin,
Cap One keeps sending me new collection letters from different law firms/CAs after I send them a DV letter. Is there anything that can be done about this or is it just the price I have to pay?
you need to send the old dunning letters, dv letters and green card with each new DV
Cap One keeps changing law firms
I've just been sending them a new DV letter every time I get one. Most of the time that seems to shut them up. Is that OK or do I need to enclose the old letters too? I have to tell you though, I've looked up each new one on the web and its like a regular rogue's gallery of law firms and CAs.
what is the DOFD? what state do you live in? how much?
If you continue to handle it that way then you will have to keep doing it and the process will never end. I would follow cinnamons advice and send a copy of the ones that you have already sent along with the new one.
These collection agencies constantly sell debt, it is an endless circle.
CAP one changing lawyers/CAs
I live in California. The amount is $7214. And I last made a payment to them last September. The new law firm/CA is in San Jose.
Cap one changing lawyers/CAs
Goodnatured,
Cap One is still claiming to own the debt based on the last correspondence I got from them. They just keep changing law firms/CAs every time I request validation. Its the same pattern every time. They send me a letter, I send a DV, a few weeks or months pass, and then I get a new letter from a new firm claiming to represent them.
So what it is then is the collection agencies selling it off, I don't think that capital one has anything to do with it at this point. They probably charged it off. Check your credit report and see if it says charge off on the capital one part.
Unfortunately, they will continue to sell it off, there are a lot of bottom feeders out there who are in the business of collecting dead debt.
How old is the debt? Is it past the statute of limitations?