Need some advice received a letter from Borack & Associates

CAGMGD24 · 05-19-2007, 02:32 PM

Hi

I am new to the forum and need some advice on how to handle this situation.

The original account was a Providian CC. From my records my last payment was made 11/03. The account was placed with a couple of different CA over the years and finally ended up with Portfolio Recovery Associates. They did catch me at work once. I told them that this is something I wanted to take care of but could not speak to them at work. I never returned her numerous calls and her last call to me said that she would now have to forward my account. I did not hear anything for a couple weeks until I received the letter from Borack & Assoc. Looks like the standard letter saying I have 30 days to dispute the validity of the debt. I am still in the 30 day timeframe. Borack & Assoc. is also calling me once a day.

The original card limit was $1,000 now they are trying to collect $2,113!

I live in FL, do not own a home, have a car in my name with a lien holder, and do not have any major assets.

Should I go ahead and write a letter to dispute the validity of the debt? Should I write a letter to settle? I am just not sure how to go about this. All I know is I do not have 2k to pay these people.

Please help.

Thank you

hannah · 05-19-2007, 02:46 PM

Quote:

Originally Posted by CAGMGD24

Hi

I am new to the forum and need some advice on how to handle this situation.

The original account was a Providian CC. From my records my last payment was made 11/03. The account was placed with a couple of different CA over the years and finally ended up with Portfolio Recovery Associates. They did catch me at work once. I told them that this is something I wanted to take care of but could not speak to them at work. I never returned her numerous calls and her last call to me said that she would now have to forward my account. I did not hear anything for a couple weeks until I received the letter from Borack & Assoc. Looks like the standard letter saying I have 30 days to dispute the validity of the debt. I am still in the 30 day timeframe. Borack & Assoc. is also calling me once a day.

The original card limit was $1,000 now they are trying to collect $2,113!

I live in FL, do not own a home, have a car in my name with a lien holder, and do not have any major assets.

Should I go ahead and write a letter to dispute the validity of the debt? Should I write a letter to settle? I am just not sure how to go about this. All I know is I do not have 2k to pay these people.

Please help.

Thank you

By all means send a dispute letter saying "I dispute this debt in it's entirety and require validation and verification of what you say I owe." And if you don't want them calling you, include "it's inconvenient to telephone me at any time at any telephone number. Please communicate with me only in writing by mail." Send it CMRRR so you have a paper trail.

If your date of last payment was truly 11/03 you are very near the SOL for credit card debt in FL of 4 years if they have no media for the debt. Have you ever requested validation/verification before?

Do not sign the letter. Use a script font for your sig.

Also - just a heads-up --- since SOL is so near on the 4 years, they may well sue you soon.

Enigma · 05-19-2007, 03:32 PM

If you don't dispute the debt they will sue. They IMHO are the lowest of the lowest .

I know from personal experience.

xanathos · 05-19-2007, 03:37 PM

One thing to keep in mind on this (and yes, send a dispute letter) is that this account is so old and has changed hands so many times, there's about a 99.9995% certainty that the original contract and billing statements have either been lost or destroyed by now (costs a lot of money to store records).

The reason this debt has changed hands so many times is because it's "spooled". It's just text on a computer screen at this point. A company can't really do much with that, because it offers no proof of debt, no proof of validity of debt, or even proof that you actually ever entered into an agreement with the company in question at any time. Some junk debt buyers, their whole MO is to file a suit that is easily defended against by a savvy consumer in the hopes that the consumer either doesn't know their rights or sticks their head in the sand and hides so the junk debt buyer can obtain a default judgment.

CAGMGD24 · 05-19-2007, 07:46 PM

Thank you so much for the advice. So I will be sending out the dispute letter. From the samples I have seen online most say I give them 30 days to respond. Is this right? Or should I not put a date?

If they cannot come up with proof or not enough proof then what do I do?

Sorry for all the questions I just do not want to be sued.

Thank you again

hannah · 05-19-2007, 08:53 PM

Quote:

Originally Posted by CAGMGD24

Thank you so much for the advice. So I will be sending out the dispute letter. From the samples I have seen online most say I give them 30 days to respond. Is this right? Or should I not put a date?

If they cannot come up with proof or not enough proof then what do I do?

Sorry for all the questions I just do not want to be sued.

Thank you again

You don't need to put a date. They have to cease collection until they validate. I am not sure what constitutes validation in the 11th circuit but Enigma might know.

Seriously though, you are very close to SOL which means you could be sued at any time. Get that validation letter out ASAP.

You don't need to use any example and will be better off to keep it short and sweet and to the point.

Enigma · 05-19-2007, 11:15 PM

If Borack sues, and you can bet they will, just go the the Orange County Court website and look at the volume of suits they file.

They usually file in small claims. I have seen them get a judgment on one statement. But that particular judge was not very consumer friendly.

What ever you do, don't talk to them on the phone. Do it in writing. You want a record of everything.

Start a lawsuit file now. Do you have bank records of when your last payment was made? If not get it from the bank.

In FL, if it is small claims, the rules say that the plaintiff lawyer cannot initiate discovery unless you do it first, ior the judge oks it. That is why you need to look at your past bank reocrds.

Read very closely everything they send you. Look for violations.