I followed the instructions on this forum and mailed them a debt validation letter within 30 days after I received their first letter.Just today I received a package from them in the mail.
A credit card number must have between 13 and 16 digits.It must start with: 4 for Visa cards 5 for Master cards 37 for American Express cards 6 for Discover cards In 1954, Hans Luhn of IBM proposed an algorithm for validating credit card numbers. If the result from Step 4 is divisible by 10, the card number is valid; otherwise, it is invalid.Any info on Collectcorp and Bank of America would be appreciated. WI had an unpaid credit card with bank of america for a little over 00 that got turned over to a collection agency called Collectcorp several months ago.The credit card was opened at least 5 years ago yet none of those statements were included. How does this work and is Collectcorp the one who will sue or will it be Bank of America? WDoes the last statement reflect an amount owed the collection company is now claiming you owe? You do need to see a signed contract because so far they have only proven that there was a card in your name but not if you opened that card.Send the CA the arrangement offer, say that this is what you can realistically do and should the account ever go to court that a judge will see your financial situation and likely order an even lower payment.
If they turn it down, then send a copy to Bo A and point out you are trying to pay the account but the CA is being unreasonable and ask for the account to be pulled back as you are trying to make a good faith attempt.
You really don't want to take the mind-set of 'stalling' unless you have a plan in mind, like say you want to stall a month or so until you have the required money, but if you just want to stall to keep them from doing anything, that could blow up in your face.
Normally I say to hold out for contracts and complete statements, but it is a guarantee that an OC would have these things.
The credit card was opened at least 5 years ago yet none of those statements were included. How does this work and is Collectcorp the one who will sue or will it be Bank of America?
I so don't want to be sued but simply can not afford to pay this debt.
This is a port of the Luhn Algorithm, generally used for validating Credit Card details, to Objective-C (i OS).