Question re: debt validation

iVillage Member
Registered: 11-02-1999
Question re: debt validation
2
Sun, 08-30-2009 - 8:48am

I'm hoping someone can shed some light on this for me...

I received a letter from Asset Acceptance on July 31, notifying me that they had bought my debt from Chase.

According to my credit report, Chase had charged off my debt this past June, in the amount of $14,821.33. Asset Acceptance is claiming that I owe $19,279.91. I sent off a debt validation letter (because the amount was NOT in line with the info I had), and just received their response: a lean, one page "report" that shows the original creditor name, original account number, $14,821.33 principal (as reported on my credit)...plus $4,458.58 in INTEREST.

Where did this come from? How is it even possible that this had accrued nearly $5k in interest in a month? What recourse do I have? Can I fight this? I'm really at a loss here...

Thanks so much in advance for any insights and advice!










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iVillage Member
Registered: 03-17-2003
Wed, 09-02-2009 - 5:57pm

Asset Acceptance is generally accepted by most critical thinking people to be one of the worst entities on the planet.

iVillage Member
Registered: 11-02-1999
Thu, 09-03-2009 - 5:27pm

Thank you so much for your reply -- I really appreciate it! I thought it seemed insane, but it's good to know that *I'm* not the insane one, and what to do next.

Thanks again!










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