Portfolio Recovery Services INFLATED CHARGE AND INTEREST RATE Norfolk Virginia
i had a credit card with providian in 2000. i got hurt and was out of work a year. my bill was $1150. after receiving numerous harrassing phone calls on my girlfriends cell phone. i called to get a report sent to me. when the report arrived hey said my bill was $5225.00. i told them that that was way over what i owed and told them that i would pay the principal debt. i was told that it was $2662.00. also way over my debt total.
David j
Geneva, Florida
U.S.A.
1 Updates & Rebuttals
John
Louisville,Kentucky,
U.S.A.
RE:
#2Consumer Comment
Sun, November 04, 2007
David,
Collection agencies buy defaulted debt on pennies on the dollar....i.e. an original defaulted debt of $1,000 might be purchased by a collection agency for $50.
The important factor is whether this debt is outside of the statue of limitations, which is the time period allowed to take legal action for a debt. The statue of limitations in Flordia is four years...which means that they had four years to take legal action against you starting on the day of default.
It's most likely that this debt is outside of the statue of limitations, so that can't sue you. They can still try to collect thought by phone/mailings...but that's all.
Don't make the mistake of making any payment...this will reset the statue of limitations.
Once you've confirmed that this debt is outside the statue of limitations, mail them a "Cease Communication" request via Registered Mail with Return Receipt.
Remember: Collection agents cannot take your firstborn child, nor can they send the sheriff to your residence to have you arrested if you don't pay them by sundown.
You are protected under the Fair Debt Collection Act.