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Re: How long does Bank keep Records?


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Posted by im a bill collector (216.78.57.46) on February 02, 2003 at 20:54:12:

In Reply to: How long does Bank keep Records? posted by Anon on November 26, 2002 at 20:06:39:

Under the FDCPA the CA has to provide proof of debt if you make a written request within 30 days of contacting you....if you do not make this request within that 30 days the creditor/CA can take action against you....however they still have to provide it.....very likely in court if you are served a summons to appear.

In the case of a credit card you have to be specific as to what you want proof of....the entire balance owed or an individual charge to the account......be specific as to the month/year the charge was incurred.

If your bent out of shape about the interest, late charges, coll cost etc.....get over it...it's part of the 'card holder' agreement....however....

base on the age of the debt save some $$$ and see if they will accept a "settlemnt" for a lesser amount than what you owe.
MAKE SURE THEY PUT THE OFFER IN WRITING! Send a cashier check and then get a copy of the cashed check,the agreement letter and hold it in your RECORDS FOREVER.

Every person is different,factor what the rest of your credit looks like also....are the rest of your bills paid on time? Are you in over your head? Bankruptcy may be the last ditch...good luck


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