Yet another account transferred to a CA, called Collectcorp, anyone?

[optimistic1]

Anyone have any dealings with these people?

Trying to collect a delinquent BofA bill totaling almost $1700

[albacore44]

Anyone have any dealings with these people?

Trying to collect a delinquent BofA bill totaling almost $1700

damn........your having bad luck. have not heard of them. I have 2 B of A's total = 25K. Looks like I will have to keep my eye out for for them. when did you stop paying ??

[treehugger1]

A transfer of assignment or a sale to CA? Send another DV. I had BoA send my accounts to several different CA's and BoA eventually sold the account to a JDB (CACH.) I DV'd to a "legal firm" out-of-state that dunned me, and I never heard a word back. Going on 18 + months since last payment. CACH shows on my credit reports but also states, "Consumer disputes debt." Get something in writing and send a new DV and C&D request.

[optimistic1]

Will do, I intend to take full advantage of the thirty day period, and mail it out 20 days from the date on the paperwork.

albacore, this particular account was not paid on since Oct/Nov

I can expect much more CA activity, as we had numerous accounts that we stopped paying on around the same time.

This stuff is fun, or atleast that's what I am telling myself.

Thanks TreeHugger for the advice, I will do so.

[albacore44]

Will do, I intend to take full advantage of the thirty day period, and mail it out 20 days from the date on the paperwork.

albacore, this particular account was not paid on since Oct/Nov

I can expect much more CA activity, as we had numerous accounts that we stopped paying on around the same time.

This stuff is fun, or atleast that's what I am telling myself.

Thanks TreeHugger for the advice, I will do so.

only numerous ?? I have 22. I have been trying to stratgize today in my mind. my wife and i both had seperate CC each in our own name only. with hers if we get any lawsuits filed, i might just not answer those as she is unemployed so they can't garnish, and all property and assets,cars etc. are in my name. the Attourney or JDb would have to do a little more leg work to attach something.........at least in my mind

[catleg]

Will do, I intend to take full advantage of the thirty day period, and mail it out 20 days from the date on the paperwork.

No point in waiting.

Remember what this whole exercise is about.

They want to get you on the phone with aggressive persuasive people who try to talk you out of what little money you may have left, even if that means going without paying for food, rent, or medicine.

Your goal is to (a) not talk to them (b) get them to stop calling and (c) end the overall harassment which may include calling friends, relatives, neighbors, and work.

The DV serves to throw a monkey wrench in the system and get them to put you at the bottom of the pile.
The C&D is the real value, if you do it right and they honor it, then they've lost all means to pressure you. (but only if they are a CA, not an OC).

Until it goes to the next CA, where you start over again. There are a lot of CA's. :-(

[optimistic1]

Well the DV is a monkey wrench, but I'm not gonna use all my ammo right from the get-go, if it says I have 30 days to mail it, then I will wait a little bit. This effectively gives me more time to get my stuff straight to file my petition.

[landofpoor]

Anyone have any dealings with these people?

Trying to collect a delinquent BofA bill totaling almost $1700

yep collectcorp is for boa they been calling to my answer machine every few days the number is

877-433-7012

[catleg]

Well the DV is a monkey wrench, but I'm not gonna use all my ammo right from the get-go, if it says I have 30 days to mail it, then I will wait a little bit. This effectively gives me more time to get my stuff straight to file my petition.

Sure, I understand this, after all, what have you really accomplished if your DV or C&D just results in the file being passed to a different CA.

If you aren't worried about the calls, especially the calls to work, relatives, neighbors, then there isn't really any good reason to bother with the DV or C&D letter.

It has no legal impact on the debt itself, and few if any of us here are filing lawsuits for fdcpa violations.

[optimistic1]

I see what you are saying, but I would rather just DV them, wait for their response, then act like I might be able to pay, and then CD them if they continue to hound. SO far I have sent out about 4 DV's, only one responded and it took them about three weeks. I want to be able to draw this thing out as long as I can, without suit. Which, sending the CD to them, pretty much just leaves that as the only option for them, dont you agree?

[GoingDown]

A transfer of assignment or a sale to CA? Send another DV. I had BoA send my accounts to several different CA's and BoA eventually sold the account to a JDB (CACH.) I DV'd to a "legal firm" out-of-state that dunned me, and I never heard a word back. Going on 18 + months since last payment. CACH shows on my credit reports but also states, "Consumer disputes debt." Get something in writing and send a new DV and C&D request.

CACH (Lowery) of Colorado ?

They sent me a dunning letter for a deficiency balance from a repo'd car (over $8000) and claimed to be a law firm on the phone and I laughed at them and then sent them a Cease and Desist letter and never heard another word from them. They're still on my credit report, but not for much longer. Their 7 years is almost up.

[GoingDown]

I see what you are saying, but I would rather just DV them, wait for their response, then act like I might be able to pay, and then CD them if they continue to hound. SO far I have sent out about 4 DV's, only one responded and it took them about three weeks. I want to be able to draw this thing out as long as I can, without suit. Which, sending the CD to them, pretty much just leaves that as the only option for them, dont you agree?

That's what they (the debt collectors) want everyone to believe.

I have numerous accounts with JDB's where I have sent the CD to them, and they either sell the account to another JDB or they just let the account sit there dormant. Most of the more recent ones are just sitting there dormant. I think it is getting harder for them to sell off old charged off debt because the buyers know they probably aren't going to get paid anything back from them.

[treehugger1]

Yep, CACH out of Colorado. Interesting thing is I never heard from them directly. They went through a california law firm that I DV'd. Once again, I discovered the law firm had run up against the Calif. legal system a time or two. Next thing I know, CACH was reporting as a consumer disputed collection on the credit reports. I really don't care as it only increases the totaslity of my financial mess for anyone that looks at my credit report.

The other comment made related to CA's and JDB's having trouble finding buyers for debt is probably a good hypothesis in these trying economic times. I would suspect that the CA's and JDB's go after more recent debt and less-educated consumers. I wonder how many folks really understand and exert their rights? I'd guess it's not that many when compared to the hundreds of thousands of collection accounts coming into the system. Over-ripe fruit probably doesn't pay off that well.

In fact, with what appears to be a coming increase in CC default, I'd be surprised if the the return based on number of accounts served by a CA will continue to lead to the same proportion of past revenue per account. This might be even more true when the collection industry realizes there is nothing to collect, folks not worrying as much about their credit scores, high scoring folks walking away from homes, vehicles, boats, etc, and courts backing up with consumers/attorneys fighting collection efforts.

I've read a few articles in the past suggesting it might make more economic sense to a nation to forgive all unsecured debts, and allow the consumer to put their cash to immediate work int he overall economy that serves the best interest of the country. Here is a simple example. In my region, folks are paying on CC and unsecured debt and neglecting their overall healthcare; medical, dental, needed surgeries, etc. This alone will have a serious economic repercussion in the future for the entire region. In terms of funding a pseudo-national healthcare plan (which I expect is coming,) folks will need jobs to create the income tax structure to afford such a nationwide plan. Without jobs, the income tax base decreases, and any social programs have to be supported on the willingness of the US to take on more national debt to cover programs we don't have the tax base to support. If you have been follwing the recent news closely, such a willingness of "funders" of such debt (domestic and international) may be close to drying up.

I say flush the consumer unsecured debt, re-assess secured debt to "real" market value, and move toward a system of housing, transportation, healthcare, communication, and energy that does not rely as much on credit. This is probably more in line with capitalism than socialism. Unless I missed something in my education, capitalism was never intended to be dependent upon debt and credit. This is related to this thread, as in my opinion, CA's and JDB's are probably more likey to take legal action if the consumer has some form of attachable assets. It's hard to collect on a judgment, when the defendant has nothing to give up, or really doesn't care if their assets are seized or wages garnished.