I opened a credit card with wachovia in '01 or '02. Wachovia has since been bought out by chase.
I got behind on payments, and by May of '04 the account was charged off....
Unfortunately i never asked for validation, and i never heard anything from anyone after the charge-off.
In comes unifund.
In august or september of 06, i pulled my credit and discovered that unifund was now holding the debt. I contacted them in hopes of settling the debt. They had already turned it over to a law firm to come after me. I contacted the law firm, and tried to settle with them, but unifund would not accept a settlement other than 80% of the total amount due in 2 payments, which i can by no means afford.
It's now april. The law firm has supposedly tried to serve me papers 2 or 3 times now, but I was never home to receive anything.
A few questions i have:
1. When the card was charged off, the original balance was around 2900 dollars. Every month now i'm receiveing my credit report, and every month the balance goes up. It is now at 6400 dollars. Is there a usury ceiling on the amount of fees and interest that can be assessed?
2. Have I lost my right for debt validation? Or is that still an option at this point for me?
3. Should i try to take it to court ? If so, what steps should i take to try to rectify or even win?
Thanks in advance.
I got behind on payments, and by May of '04 the account was charged off....
Unfortunately i never asked for validation, and i never heard anything from anyone after the charge-off.
In comes unifund.
In august or september of 06, i pulled my credit and discovered that unifund was now holding the debt. I contacted them in hopes of settling the debt. They had already turned it over to a law firm to come after me. I contacted the law firm, and tried to settle with them, but unifund would not accept a settlement other than 80% of the total amount due in 2 payments, which i can by no means afford.
It's now april. The law firm has supposedly tried to serve me papers 2 or 3 times now, but I was never home to receive anything.
A few questions i have:
1. When the card was charged off, the original balance was around 2900 dollars. Every month now i'm receiveing my credit report, and every month the balance goes up. It is now at 6400 dollars. Is there a usury ceiling on the amount of fees and interest that can be assessed?
2. Have I lost my right for debt validation? Or is that still an option at this point for me?
3. Should i try to take it to court ? If so, what steps should i take to try to rectify or even win?
Thanks in advance.
