Collection advice

[kathryn99]

My apologies if this gets long. In 2003 we had a boat reposed. We had been paying a small amount each month towards the balance that was left after they sold it (which was a lot over $10,000). We were doing this through an autopay. There was a mishap in the autopay and it hadn't been coming out. Now this balance has been turned over to a collection agency (Mountain State Adjustment if anyone is familiar). I talked to them for the first time today and they want $12,900. I cannot even imagine there was that much left on the balance so I am not sure where that number is coming from. I was planning to send a validation of debt letter. Is that the right course to take here. They are expecting me to call them back on Friday. I told them we don't have access to that kind of cash. He said they pulled our credit report and it is good enough we should be able to get a loan. I am also wondering if this is outside the statute of limitations for my state. I looked it up and it appears to be 6 years for written contracts. What are your suggestions. The guy on the phone was very rude.

 

Thank you in advance.

[Mustard on Fries]

Stay off the phone. Never talk to collection agencies.

 

2003 is a looking time ago. I'm thinking so DSR out of SOL that FOAD letter might be a good choice.

 

...however, if you have been making payments on it, the date of your last payment restarted the SOL clock. That might be your problem. When was the last time the autopay was successful?

[Mustard on Fries]

 

http://creditboards.com/forums/index.php?showtopic=102946