Personal Finance

Financial Debt Recovery Letter

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  • Mar 3rd, 2014 6:19 pm
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[OP]
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Financial Debt Recovery Letter

My dad got in the mail today a letter from Financial Debt Recovery saying he owes 1,770.05 from capital one. They go to say that they are willing to settle for less and that this offer is only vaild till feb 28.

Now the thing is he never had a capital one card and this is the first time we heard anything about this. Is this some sort of scam?
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Aznkid2000 wrote:
Feb 26th, 2014 11:05 pm
My dad got in the mail today a letter from Financial Debt Recovery saying he owes 1,770.05 from capital one. They go to say that they are willing to settle for less and that this offer is only vaild till feb 28.

Now the thing is he never had a capital one card and this is the first time we heard anything about this. Is this some sort of scam?
Inspect that collection letter and identify the spelling of the first and last name including middle initial if there is one. Is that a name format your dad uses or ever used?
If its incorrect then contact Capital One and request additional identifying documentation to support their collection claim including a copy of the credit application and/or last hard copy billing.
If they won't supply it then ask them how do they know they have the right person.

Then have your dad pull his own credit bureau both from Eq and TU. Make sure all personal data including reported tradelines are correct. If not have them corrected.

If you see a collection tradeline from Financial Debt Recovery and he still insists its not his then your dad will have a major task to have it corrected.
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Could it be for some sort of retail store card? Like a Home Depot, Leon's, etc? I'm think Capital One is in that business too, no?
[OP]
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its actually from another place that is collecting on behalf of capital one. So its not directly from capital one

I called capital one and seems like they can't give me information on this and transferring me to different departments. They gave me a number to total credit recovery to call tomorrow

My parents is old school that pays their bill in full and right when they get it, so i don't see how they would miss this large amount or forget about it.
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3000th post Dec 28 07 9:58pm
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if you call the collection company #, make sure you don't give them any info

could be some scam to lure people into calling the collection # to "sort things out" when it is actually a scam to steal more info from you dad. (i.e. they'd ask you to verify your name, address, date of birth, bank account #, passwords...etc)
[OP]
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bigwhite418 wrote:
Mar 3rd, 2014 5:59 pm
if you call the collection company #, make sure you don't give them any info

could be some scam to lure people into calling the collection # to "sort things out" when it is actually a scam to steal more info from you dad. (i.e. they'd ask you to verify your name, address, date of birth, bank account #, passwords...etc)
yeah i was reading that somewhere. If i do call the collection how do i find out its legit? What happens if i ignore this and so on
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Your parents pay, the record will stay for another 5-7 years I believe.

If this amount was from 5-7 years ago, a year or two more and I believe that that line item will have to drop.

Not entirely sure but I think I read it best to just not pay this thing especially if it's really not from Capital One.

That is such a short notice it reeks of scam btw. :)

Challenging the claim is probably best though.

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