What does all this mean?

[api]

I have a Capital One account that has been charged off. I recieved a letter in the mail a couple of days ago from a law firm called Frederick J. Hanna and Associates. Ive never been in a situation like this, so I need help in reading the letter and what does this mean? The debt is $857.02.

Please be advised that this law firm represents Capital One Bank in its effort to collect your delinquent debt as shown above. Please contact our office to make arrangements to pay the unpaid balance.

Unless you notify this office within thirty days after receiving this notice that you dispute the validity of the debt or any portion thereof, this office will assume this debt is valid. If you notify this office in wiriting within thirty days form receiving this notice, this office wil obtain verification of the debt or obtian a copy of a Judgment and mail you a copy of such Judgment or verification. If you request this office in writing within thirty days after receiving this notice, this office will provide you with the name and address of the original ceditor, if different from the current creditor. This an attempt to collect a debt. Any informaiton will be used for that purpose.

At this time, no attorney with this firm has personally reviewed hte particular circumstances of your account. However, if you fail to contact this office, our client may consider additional remedies to recover the balance due.

What exactly does this letter mean? Is it to late to contact Capital One and see if they will let me start making payments to them to pay off the debt? Do I need to contact this law office or could I just ignore it and see what they do?

[treehugger1]

C1 probbaly will refer you to the law firm or collection agency who is handling the account. Send a simple debt validation letter to the law firm. Search on this forum for debt validation letters. Keep it very simple!

[api]

If I send a debt validation letter want this cause them to look more closley at my account.

[frogger]

our client may consider additional remedies to recover the balance due.

Typical collection letter. The client "may" consider.....

They are doing what a collection agency does. To try to get you to pay the bill at a minimum of cost to them.

Letters are cheap.

[pcn]

I sent that group a DV letter and haven't heard a thing since. They may not even be licensed to practice in your state. I asked that question of a few of the "law offices" that called, and it seemed to throw them for a loop.

[francis]

api,i once received a letter like that from washington mutual.it wasnt too much later that an attorney from the law office was trying to seek a judgement against me.so unless you are headed towards bankruptcy.it may not be a good thing just to ignore the letter.

[flyinbroke]

If I send a debt validation letter want this cause them to look more closley at my account.

It forces them to do this, but if it is already in the hands of a collection agent it is unlikely they have any of the pertinent information (like is this account really yours). Once an account is charged off, many places purge the account when they sell it. The third party usually does NOT have proof such as the original contract and terms. This is why you always ask to validate and verify...many times the CAs give up for lower hanging fruit easily intimidated into coughing up cash. There are plenty of them out there.

If they do have info and plan to sue, it buys you yet more time.

[pcn]

If they do have info and plan to sue, it buys you yet more time.

Some people's theory is that if the collection agency does have validation, by you cutting off communication this forces the issue, and then they sue. By responding you also alert them that they have contacted the correct person. So it's a gamble either way. If you want peace and quiet for a while, and are filing soon, I would send them the DV to get them to leave you lone for the last few months before you file. For us, even if someone files against us at this point, we have our preparations far enough along to file before it reaches court.

[optimistic1]

I have been DV'ing for over a year now, including sending them to local law offices, still nothing in the court docket.


Send them a DV letter with the following statement, and make a reference to the date on your letter, and all pertinent information, copied from their letter. Send it via certified mail, and send it after twenty days, if they call daily, send it sooner than that.



Dear Collector:

In accordance with the Fair Debt Collection Practices Act, 15 USC 1692(g), I dispute the validity of this debt and any portion thereof, please provide me with verification of the debt or obtain a copy of a judgment and mail me a copy of such judgment or verification.



Regards,

Joe Deadbeat.

[treehugger1]

I agree with optiistic's very simple letter. I usually add my own additional reference to my state laws.

My own expereince has been tht I have often received verification from the law firms, but the accounts still were returned to C1 and went on to new CA's. This has been true for accounts that also went to legal frims only 200 miles away from me. It can be all pretty strange and seems to have no logic behind the collection procedures. Your mileage may vary.

I'm now finding that with several judgments aginst me, I get more mileage out of sending them a letter stating they are to cease and desist all communications with me, written and telephone. In my case, since I have a year or more of non-payment on nearly every account, I really don't care if they sue or don't sue.

[LimpDisc]

I agree with optiistic's very simple letter too.

Send the letter certified mail with return receipt.

[ForumReader]

Yes, do send a DV like the other posters have stated. I received letters from the Fred Hanna law firm for my BoA and FIA accounts before being farmed out to another CA by the name of Glasser and Glasser based in Richmond, VA. I have heard last year that the Fred Hanna firm was under investigation for violation under the Fair Debt Collection Act. Good luck.

[junker]

you dont mention what your end game plan is...are you just trying to buy more time till you file bk?? or are you judgment or collection proof?? do you have other accts you are not paying?? all the posters are right about sending a dv and such.. but what are your plans IF they sue..it seems you now want to work something out with crap 1..but now it seems that ship has sailed and you are dealing with a ca..are you trying to hold out till they offer you a low low settlement..say 20% or something like that? its pointless to now try to settle on this if you have other accts you are not going to be paying....

[optimistic1]

If you send it just certified, you can pay a fee to the post office to obtain the return receipt (signature proof), at a later date. Like, if you actually plan on suing them for violating the FDCPA. So just send it via certified, thats enough to let them get the hint.

[api]

I do plan on paying the amount to Capital One. Its 857.02. I just don't have the money to pay in one large lump sum. I can afford monthly payments, as in $80.00 a month but that would be about it. Do law firms and collection agencies let you make monthly payments?