First CA letter - question!

[CCsSuck]

Hi all,

I finally got the first letter from a CA regarding my BofA debt. I remember reading something on here (which I can't find again, lol) about the OC refering you to collections to see if they have any luck before actually selling/assigning them the debt. Or maybe I have the terms refer and assign backwards? In any event, here is a link (the file was too big to attach, sorry!) of what they sent me with my personal information redacted. http://i1107.photobucket.com/albums/...ck/1letter.jpg Can you please take a look and tell me whether or not I need to (or should) send a verification letter now or wait past the 30 days until they send me another letter after its been sold (if it hasn't already)?

Thanks!
Mike

[frogger]

You've already either been assigned or sold to Encore. Congratulations!!! Let the phone calls begin.

Should you send a dv letter?

No reason not to, if you choose to do so. Wait until close to the 30 days to do so.

They will verify, and the games will begin.

The big question is:

What are your intentions?

[CCsSuck]

You've already either been assigned or sold to Encore. Congratulations!!! Let the phone calls begin.

Should you send a dv letter?

No reason not to, if you choose to do so. Wait until close to the 30 days to do so.

They will verify, and the games will begin.

The big question is:

What are your intentions?

But if it hasn't been sold, is there really any reason/benefit to validate? I suppose it would slow the process down slighty (which is a good thing), but is it necessary if they didn't in fact buy the debt? Does this mean that Encore is going to be my new best friend and I won't hear another word from BofA? Right now my intentions are to delay, delay, delay, and hopefully delay some more, lol.

[treehugger1]

Look, assignment is simply what it implies. Encore has been hired to collect a debt on behalf of BoA. It is highly unlikely that Encore purchased the debt. Recently, BoA seems to be more willing to attempt contracting with CA's then attempting to sell their bad debt. Don't assume the debt will ever be sold.

I have always sent a DV well before the 30 day cutoff. I see no reason to wait until the last minute. Send the DV request. Encore may hang on to the file for a while before they request further steps from BoA. Or, Encore may send the file back to BoA.

Frogger asked a very important question. "What are your intentions?"

In my own personal position, I don't care if they sue me and receive judgment. I can withstand 25% wage garnishment. The question is, "Can you?" Since you just now received a dunning letter, you should have months before anything might possibkly happen. Do your research for debt collection and civil action as the laws pertain to your state.

Best to you, TH

[CCsSuck]

Thanks for the reply -- I'll go ahead and send the DV letter in a week or two.

[DYLAN150]

CCsSuck: When was your last payment to B of A? I owe them also and am only 30 days late but have been getting calls from real people not a computer.

[frogger]

Right now my intentions are to delay, delay, delay, and hopefully delay some more, lol.

Then let the games begin!

Wait until right before the 30 days to send the dv letter.

You can expect for the auto-dialer to call you, and call you, and call you, and call you. Get the picture?

If you're up for it, you might want to talk to them once every couple of weeks or so and give them a sob story. Make no promises, sign no documentation, just piss and moan about how bad your financial picture is with no relief in sight.

Don't tell them anything except how bad your life is. Anytime they want to talk about payments or payment arrangements, just continue telling them how bad your life is.

It won't make a difference to them, but they are placing account notes in your file. When it gets time to consider legal action, you want for them to have absolutely no glimmer of hope in your notes.

[CCsSuck]

CCsSuck: When was your last payment to B of A? I owe them also and am only 30 days late but have been getting calls from real people not a computer.

The first payment I missed was due the beginning of January, 2011. I honestly don't know who/what is calling me, because I don't answer, lol. From what I can tell from the voice mails, though, it appears to be an auto dialer that does one of those "please hold, somebody will be right with you," sort of deals. In three months, I've only gotten one actual voice message that was complete (they must have hand dialed and actually waited for the beep, lol), but I have a feeling whoever called was not from here, because I couldn't understand a single thing she said. *shrugs*

[CCsSuck]

Then let the games begin!

Wait until right before the 30 days to send the dv letter.

You can expect for the auto-dialer to call you, and call you, and call you, and call you. Get the picture?

If you're up for it, you might want to talk to them once every couple of weeks or so and give them a sob story. Make no promises, sign no documentation, just piss and moan about how bad your financial picture is with no relief in sight.

Don't tell them anything except how bad your life is. Anytime they want to talk about payments or payment arrangements, just continue telling them how bad your life is.

It won't make a difference to them, but they are placing account notes in your file. When it gets time to consider legal action, you want for them to have absolutely no glimmer of hope in your notes.

Well, as far as the calls go, google voice with the do not disturb function is the most incredible thing in the world, haha. I did pick up once, but we had a horrible connection (genuinely!), so I hung up on him. Originally I was hoping I could work out a repayment plan with them, but I'm starting to realize that living off of cash as opposed to credit is not as easy as I thought it would be, and at the end of the day, I really can't afford to pay them anything without putting myself in a bad position. So they can wait.

As far as the no glimmer of hope, I know they'll sue me eventually, but hopefully before they do, they'll look at my credit report and see that I stopped paying my other credit cards (most likely going to happen this month), too, so its not like I'm just choosing not to pay them over somebody else.

You know, its funny how comforting doing some research about the whole collections process can be. Before I let the card go, I was terrified of the prospects, but now with google voice, I just kind of shrug my shoulders at the whole thing. When they sue me, they sue me. I'll deal with the 25% then, and hopefully I can stall it until I'm in a better position to truly consider BK. In the meantime, they can talk to my voicemail, lol.

Thanks for the reply

[DYLAN150]

CCsSuck: Wow, B of A wasted no time. I stopped paying in February but I live in another state so maybe it will be a little longer with me, no one really know's. I having nothing to garnished but I do have a house with no equity. Let us know what happen's.

[CCsSuck]

Well this is interesting. I sent the DV to Encore on 3-31-11, and then today, 4-15-11, I got a letter from NCB Management Services regarding the same debt. I never did get anything back in writing from Encore. Why would they sell it in less than a month? If Encore was the first place BofA sent my file to collect, why wouldn't they be able to verify the debt? That seems odd, doesn't it? Also, this letter from NCB is dated 4-2-11, and it just came today (it was presorted mail so there's no postmark on it to prove when it was actually mailed), is this a trick to cut down on my 30 days to request validation? Has anyone ever ran into this before?

Thanks,
Mike!

[DYLAN150]

Something sounds fishy to me too! Please let us know what happens here.

[CCsSuck]

Something sounds fishy to me too! Please let us know what happens here.

I will certainly will! Thanks

[brokeinal]

I got that same letter from Encore right before Christmas. We never responded or did anything.

We just got a collections letter from Solace about the same debt a couple of days ago. I had already filed bk, so just called and told them and they said they actually had already sent the file back to BOA on 4/11 (the letter was dated 4/5).

Mine was a HELOC that foreclosed in November of last year, if that makes any difference.

[treehugger1]

The double dunning letter issue used to happen to me a great deal. Try not to think about it too deeply. Send NCB a DV request or C&D letter also. For about a year, I was probably mailing 2-4 DV/C&D requests per week. While there might be some sort of illegal/strange actions happening, you won't get far trying to force them to explain unless there is some national class-action suit and you are included (very unlikely.)

You now have a second job; writing out DV's or C&D's in your spare time. LOL

Now-a-days I just immediately send an all-out cease and desist. I finally graduated to goingdown's approach. I finally decided that I'm not paying them voluntarily, so why should I keep worrying about the CA's. If you can't, or won't, pay them, then tell them to FOAD.

I seriously doubt BoA has sold your debt as of yet. If you are curious, call the CA's on the phone and ask them. You can have a lot of fun. Better yet, call BoA. Funny thing about BoA is that after they truly sold my two cc accounts, they offered me a checking account. They were very straight forward and said, "No sir, you don't have any debt with us. You are more than welcome to open a checking or savings account." One day you might be a loss, but the next day you could be potential revenue. Very, very amusing.