charge off

what is the timeframe for a charge off of CC from OC to the hands of third party collector?

A chargeoff is generally a suggested/required accounting action. Once the chargeoff occurs, it could be a few days before the CC sends to outside or third-party CA. You can then expect to be contacted by the collector.

Once the collector has contacted you, they are supposed to send you notice of collection intent within 5 days after contact. They might send you a dunning letter rather than attempt to phone you. Once you receive the dunning letter, you should ask for verification before 30 days passes from your receipt of the letter. Take careful notes when you receive the dunning letter, any dates/times of collection calls, etc.

My understanding is that once the CA has your request for verification, all collection activity must cease until they have sent verification to you.

For your part, send all future communications to OC's and CA's via return-receipt US mail.

If you would like them to cease communication with you, you also need to let them know. I do not believe there are any time limits referring to cease and desist letters. They can be sent anytime.

Others can offer their thoughts.

Possible timeline???

CO

days - a few months? to go to collector

a few more days to contact you (If the CC is a national institution, you will probably receive a dunning letter in the mail.)

no more than 30 days to request verification

if verification requested, perhaps a few days to a few weeks (Of course, the CA might decide to send your debt back to the OC or send it on to a different CA.)

Once you have some acceptable form of verification (Let's not get into what acceptable is as this is debated on other boards,) you might send an offer to the CA if you can afford it. Keep in mind that making a payment resets the SOL, but there are probably times when a debtor and CA can work out an acceptable plan.

Nothing above is an absolute truth, but in my opinion, the time-frames seem reasonable. I would also hazard a guess that with the increasing CC and unsecured debt defaults we are reading about in the news, collection acivities could get bogged down. However, just about everything is done and accounted for electronically these days. Read everything you receive very carefully.

Best to you

thank you for the information

what is the timeframe for a charge off of CC from OC to the hands of third party collector?

There really isn't any timeframe. They, more than likely, will hold on to it until they have a block of CO's to sell off. There's really no rhyme or reason to when it will end up in a collectors hands.

Quick question on the contacting issue... What happens if, after being contacted by a collection agency by phone, you don't get the dunning letter thru the mail? I have been contacted a few times over the past couple of weeks by a particular agency by phone (have not talked to them) but have not received anything from them via mail.

Don't they still need to send me something thru the mail or is the phone contact enough?

Quick question on the contacting issue... What happens if, after being contacted by a collection agency by phone, you don't get the dunning letter thru the mail? I have been contacted a few times over the past couple of weeks by a particular agency by phone (have not talked to them) but have not received anything from them via mail.

Don't they still need to send me something thru the mail or is the phone contact enough?

Next time they call you just tell them to contact you only by mail, and then hang up. Four simple words "contact me by mail".
If after a minute or so they call you back don't pick up the phone.

Next time they call you just tell them to contact you only by mail, and then hang up. Four simple words "contact me by mail".
If after a minute or so they call you back don't pick up the phone.

Telling them on the phone to "contact me by mail" isn't going to do anything. They can and will, legally, still call. What makes you think telling them to stop calling is going to make them stop...lol.

fedup: Yes, they are supposed to send a letter within 5 days. If you aren't getting anything in the mail it could be that they didn't send anything. It could also mean they don't have your correct address. If they don't have your correct address you could risk being in a default judgement situation, if they follow through, and you don't show up for court. If anything, when they call verify they have your correct address.

Thanks for the reply...they should have my correct address since I have been living in the same house for 17 years. At least I assume they would have it.

I guess I thought, like you indicated, that I would be getting the "letter" (the dunning) from them after first hearing from them when they left me a message. But I have not gotten anything yet, just a call every other day with the same message: "mandated to call about a very important matter, etc...". I know it is a collection agency (Valentine and Kebartas) because I googled the phone number.

I disagree with jp. Send them a return-receipt do not call (cease and desist) letter. Study your state laws. Generally your state laws also include similar statutes/codes to the FDCPA. Tape your calls if you are allowed one-party taping in your state. Send all yoru records to yoru atorney general's office of Secretary of State and ask them to inform the violator that they are violating your "civil" rights as a citizen of your state (depending on your state.)

Maybe I have the good fortune to live in a state who has an arm of the AG's office (division of consumer finance) that is more than willing to notify creditors/CA's of state violations. I dealt with several "unsavory" CA's a few months ago and when I did the legwork with respect to noting violations and sent forward documentation to the AG's finance arm, they immediately contacted these folks. In my state, as in most states, the AG cannot advise or represent you in legal manners, but many are more than willing to shut down violators of state law.

This won't stop a suit, but it sets a precedent for you as a defendent, and under many state laws "precedence" is important.

Whatever you do, suck it up, and clearly let folks know you are willing to fight back. The next time they call ask to speak with a supervisor. Record your call, if applicable.

Build your defenses before you need them.

Research some of the CPO posts on this board.

While many will continue to call, let them know you are monitoring/recording every discussion.

Best to you.

I would NEVER send a cease and desisit letter when you're already NOT receiving any correspondence from these folks. Why in gods name would you want to keep yourself in the dark as to what these folks are up to? That makes no sense at all.

If you're being harassed and you don't want to deal with these folks, send a cease and desist. If the debt isn't yours, send a cease and desist. But in this situation there's no logical reason to send one.

I do agree that if you are NOT receiving any communication why open the doors. If you are being "harrassed," that is a different story.