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Need help, panic is setting in.
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Posted by Colleen
(205.188.209.144) on November 19, 2003 at 15:32:13:
MY husband opened an account with GM in 1996, he was taking care of finances up until last year and didn't tell me about the account. In july of last year the account was assigned to united recovery systems, and they got him to postdate payments to them. The account interest rate when it went to collects was at 9%, and no written agreement was made with united. Balance at time of assignment was 4,900. In oct of last year i took over budget. Noticed, that interest went up to 23% and late fees and overlimit fees were imposed. The payment plan was 100 a month, so we weren't touching the balance. In january hubby was talked into post dated 20 months at 110 a month. In march was offered a buyout price of 3500, went to local bank to try to get a loan, and finally pulled a credit report. Every single month, they reported us late, terms had changed but no one informed us. Bank refused us loan because of this. So i requested from united validation, hubby had no memory of charges, or even terms of card. Gm by that time refused to answer any questions and defered to united, united in turn, referred me to gm, see a pattern? Sent another letter to united in may for validation, certified mail, got card back, but no response. Spoke to a rep and they stated i had to ask for validation within the first 30 days of assignment. June, nothing, by july i cancelled their ability to draw on account. Nothing for gm or united till sept. 23, 2003. Then boom, gm in the next week and 1/2 called us daily, demanding payment. Told them of my request of validation. One rep offered a buy out of 2500, asked that terms be sent by mail. recieved another call from manager demanding we make a payment of buyout, informed her, hadn't recieved details, then she got rough, telling me we refused to deal with gm since account reverted back to them in july, gm statements still showed account in collections, that's when she let it slip that 2500 would have brought us current and they planned on garnishing my hubby's wages if payment wasn't made. Sent another letter of validation to gm. Oct 6 account sent to upton cohen and slamowitz. With the last letter filed a complaint with the attorney general of nys. Sent copy of validation to ucs, they sent a settlement offer of 80% of balance current balance being 6300. Starting out at 4900, paying 1300 we were now 1400 more in debt. Okay what do i do? I haven't been able to find any charges on the account, and gm fessed up that last charge was in sept of 97, we had moved since then, so the only documentation i have is bank withdrawals that i could find totalling 5,400. Limit on card was 3400. they sent statements from feb of 2002 as validation to attorney general, informed me i had to pay $5 dollars a statement to get information. I was advised to offer them a counter settlement offer on 5% of balance, because they were under the impression the ucs is lloking to get a judgement against us. What should I do???? Help please.
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