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Posted by hepcat (184.108.40.206) on April 28, 2004 at 18:38:58:
I had a debt of $11.5k with BOA. This went to collections after a lengthy unemployement. I negotiated my other debts, paid them off and felt good with BOA. They sent it to Sherman. Sherman sent it to Creditors Interchange. I went to the BBB about CI's tactics, as they were illegal. I also asked for validation, as they told me I now owe about $14k.
CI dumped the account, and it went to Alegis. Now it is still in the Validation phase. What will happen next? Alegis tells me I know owe $14.5k. It keeps going up. I'm sure they will sue me with this high figure. I make good money, and own 1 car. It's not that I cannot make payments at this time, but it won't help my credit and I do not owe $14.5k. My credit dropped from 800 to 620 after 2 settlements and this account in collections. Funny how 14 years of perfect credit is ruined with 6 months of unemployement.
Take care everybody!
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