Unifund Unfair credit reporting violating fair credit collection practices Cincinnatti Ohio

After seeing the interest and fees rack up on my credit record I now know that I am one of many consumers who have been violated by Unifund CCR partners.

Unifund bought my debt from Citibank a week before I called Citibank in May/June of 2005. After several phone calls to Citibank I was finally informed that Citibank had sold the debt.

I sold my house right before I contacted Citibank to attend graduate school and pay off all debts. I owed $8,000 on a credit card promoted as 0 percent interest that quickly raised their interest several times over.

I had no activity on the card since late 2002 or early 2003. I finally closed the card in May of 2003. In June of 2005 I contacted Unifund to pay off the debt I had incurred. I made an offer of 8,000. The amount I owed on the card when I closed it.

Not only did Unifund utterly refuse my offer but they informed me they would not settle then or ever and refused to allow me to speak to a supervisor. They said I had to pay nothing less than $11,000. This was a week after they had bought the debt from Citibank for pennies on the dollar. The debt on Citibanks books was 10,000.

I had my lawyer call Citibank. She was able to talk to a Supervisor who informed her to have her client send a certified letter with the offer. The letter was faxed from my attorneys office and Unifund would never accept the fax. Finally my attorney suggested I fax the letter from a Mailboxes etc. I did recieve confirmation that the letter was accepted.

Unifund never wrote or called or made any attempt to contact me. Still has not to date. I requested the Attorney General attempt to negotiate. I wrote in and Unifund responded and lied that I had ever made an offer to close.

I am almost 100% sure that Unifund also changed my last use date to 2005 the year they bought the debt. Since June of 2005, Unifiund has been accruing interest and fees on the debt of 30% monthly. It may even be accrued at a daily rate. The debt they bought for pennies on the dollar is now on my credit report for over $24,000 dollars. This is more than usuary it is evil!

I would jump at the chance to be in a class action law suit against this company. I think they are commiting fraud by claiming revenue on their books by charging exhorbitant rates as well as all the other illegal practices they are engaging in.

I plan on contacting the FTC. A spokesman for the FTC was quoted as saying there are very few complaints about this company. I doubt that!! This type of malicious practice is exactly what why Citibank is claiming billions of dollars of losses quarterly. After all Citibank was complicit in the Enron scandal.

When will the banking industry and these third party debt buyors be called to task for their vicious practices? Its about time the financial slavery was stopped.

Meg
Albuquerque, New Mexico
U.S.A.