Question re: debt validation
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|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!