General Discussion
In reply to the discussion: Capital One's new contract says it can show up at cardholders' homes, workplaces [View all]ms.smiler
(551 posts)Ive been researching mortgage/foreclosure/securities fraud for hours per day, on a daily basis for the past 5 years, and I couldnt help but learn about the debt collection racket.
Oh, Portfolio Recovery would have been my third guess. Neither company is anywhere close to reputable. From what youve presented it appears they are improperly and illegally calculating interest. Naughty, naughty.
Its so charming actually, how trusting we Americans can be in financial matters. Rather than negotiate with these scammers, you should adopt a different view. You have no idea if Capital Ones records were correct, or any idea of who may have purchased any debt, or any amount that company may have paid for the debt, or what interest could lawfully be charged on the debt. You also have no guarantee that if you pay on the alleged debt, it will be updated to paid in full on your credit report.
The prudent approach you should take to this alleged debt is to deny the debt. When the debt is challenged and denied, the burden of proof falls to the party claiming the existence, ownership and amount of the debt. Tell Experian this is not your debt and to remove the incorrect information.
And if the information on your credit report is not valid and accurate, you actually have grounds to sue for wrongful reporting on your credit. And that $2,000.00 doesnt appear lawful and accurate to me.
Scroll and check your state: http://statuteoflimitationsoncreditcarddebt.com/
Yes, you can stop the unwanted calls with a Cease & Desist letter. If the debt collector continues to call, you can sue them under the FDCPA for $1,000.00 plus the filing fee.
On one side of this are consumers who simply may or may not owe money to some party somewhere, but on the other side are banks and debt collectors who daily violate state and Federal law.