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Stop Harassing Calls From Debt Collectors

September 16, 2016 by  
Filed under Blogs, Collection Agencies

cease and desist letter

You’re sitting at home having dinner with your family when the phone rings. Who can it be? It’s your local, neighborhood debt collector demanding payment from you on a past due debt.

Dinner ruined…

No one likes receiving annoying calls from collection agencies, they almost always seem to call at the wrong time and can be down right rude.But, don’t worry, you don’t have to put up with these calls, the FDCPA (Fair Debt Collection Practices Act) allows you to stop debt collector calls at any time.

How do you get a debt collector/ collection agency to stop calling?
With a letter of course.
Below, please find a template of a limited cease and desist letter which will stop debt collectors from calling you but, still allow them to contact you via mail. (That way you can still know what’s happening with your collections.)

————
————

Your Name
Your Address

Re: Account XXXX-XXXX

To Whom It May Concern:

You are hereby notified under provisions of Public Laws 95-109 and 99-361, also known as the Fair Debt Collection Practices Act, that your services are no longer desired.

1) You and your organization must CEASE & DESIST all attempts to collect the above debt via telephone. If you wish to contact me, please do so via standard postal mail.  Failure to comply with this law will result in my immediately filing a complaint with the Federal Trade Commission, Consumer Financial Protection Bureau, and this state’s Attorney General’s office. I will pursue all criminal and civil claims against you and your company.

2) Let this letter also serve as your warning that I may utilize telephone-recording devices in order to document any telephone conversations that we may have in the future.

Have a wonderful day.

Sincerely,

Your Name
Your Address

————
————

Mail the letter Certified Return Receipt Requested (CRRR) so you have proof that the collection agency received your request.

Please note that stopping a collection agency from calling you will not make the debt disappear or remove the derogatory account from your credit report.
If you have debt collectors calling and harassing you, utilize this letter to get a little breathing room but, understand that you will have to deal with this issue at some point in the future and repair your credit.
CreditFirm.Net has helped thousands of consumers just like you remove collection accounts from their credit reports and improve their credit scores.

 

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 3-5 days.

Support. Award winning customer service guarantees your satisfaction.

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Who is LVNV Funding Collection Agency?

December 17, 2013 by  
Filed under Blogs, Collection Agencies

by: .
lvnv logo

LVNV Funding, a subsidiary of Sherman Financial Group, is a collection agency that, through its subsidiaries and affiliates, originates, purchases and services all types of consumer debt in the United States and Mexico.

LVNV Funding purchases consumer debt owned by banks, finance companies, and other debt buyers at an average of 3 cents on the dollar and then attempts to collect on the accounts through its’ collection servicer Resurgent Capital Services LP.

resurgent collection agency

Resurgent is a third party manager and servicer of consumer debt for LVNV Funding, meaning that Resurgent is the actual collection agency that is responsible for collecting on the debt. But, although Resurgent, in most cases, performs the collection activities themselves, they may outsource the recovery of the debt to other, third party collection agencies.

Confused?

You should be.

Basically LVNV Funding buys debt, then has Resurgent try and collect on the accounts. Resurgent may then outsource the debt collection to another collection agency.

What does this mean to you?

If you are trying to resolve your debt and find an account from LVNV Funding, you may decide to call them. LVNV Funding will then refer you to call Resurgent at 888-665-0374.

If Resurgent outsourced the debt, they will then give you the name and phone number of another collection agency to contact, which may or may not have your debt because they may have outsourced your account to someone else.

Here’s the worst part, technically, every collection agency that touches your account, has the right to report it to the 3 credit reporting agencies (Experian, Equifax, and TransUnion).

This means that one collection account can turn into 3 or 4 accounts reporting on your credit file. And each new account will lower your credit score.

But here’s the kicker, Resurgent is actually another subsidiary of Sherman Financial, just like LVNV Funding.

Here is a brief list of the companies owned by The Sherman Financial Group:

Sherman Acquisition Limited Partnership
Sherman Acquisition II Limited Partnership
Sherman Acquisition L.L.C.
Limestone Asset Management LLC
Granite Asset Management LLC
Resurgent Capital Services L.P.
Resurgent Capital Services PR LLC
LVNV Funding, LLC
Ascent Card Services, LLC
Ascent Card Services II LLC
Anson Street LLC
Ashley Funding Services LLC
SFG REO, LLC
PYOD LLC

Complaints?

There are many complaints about LVNV Funding’s business practices and the manner in which they attempt to collect on their debt. Honestly, there’s just way too many to list.

The complaints range from trying to collect on accounts outside of state statute of limitations, to harassment, re-aging debt, and violating the FDCPA (Fair Debt Collection Practices Act).

Here’s one example:

Maryland State Collection Agency Licensing Board
vs
LVNV Funding LLC and Resurgent Capital services

Date of Action: 7/2/2012

On July 2, 2012 LVNV Funding LLC and Resurgent Capital Services L.P. entered into a agreement with the Collection Agency Licensing Board, a division of Maryland’s Department of Labor, Licensing and Regulation concerning alleged violations of federal and state debt collection laws.

Under the terms of the settlement agreement, LVNV and Resurgent will dismiss without prejudice all pending cases filed in the District Court of Maryland prior to the date of the settlement; will provide restitution for consumers in the form of partial credits in cases in which Respondents obtained judgments, as well as in some cases that Respondents settled with the consumer-defendants prior to judgment.

This will result in the dismissal of more than 3,500 cases pending in Maryland district courts having balances of over 7.7 million.

What do you do if LVNV is reporting on your credit report?

To start, you need to take action right away and verify the information with the credit reporting agencies, validate the debt with LVNV Funding, and contact the CFPB to verify the compliance of the collection agency.

Or, you could always hire a credit repair agency to take care of all of the paperwork on your behalf.

Credit Firm.net has helped thousands of their clients delete LVNV Funding and Resurgent Capital collection accounts from their credit reports.

If you have been contacted by LVNV Funding/Resurgent Capital or have an LVNV Funding collection account reporting on your credit report, let CreditFirm.net protect your rights and engage these companies on your behalf to improve your credit.

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

Know Your Enemy: Midland Credit

August 12, 2013 by  
Filed under Blogs, Collection Agencies

by: .

midland collections

Midland Credit Management (MCM) also known as Midland Funding and MCM Capital is a subsidiary of Encore Capitol Group, Inc.  Midland is a collection agency which purchases portfolios of defaulted consumer debt from banks, credit unions, utility providers, as well as many others at a severe discount.

In 2011, Encore Capital paid $386.9 million, to purchase $11.7 billion in debt. What does this mean to you? Midland buys debt at a 96.7% discount, so your $1000 collection was bought for $33.

In 2013, Midland Funding was fined for using illegal collection tactics to collect funds from 1.44 million consumers. They were ordered to pay $5.2 million to approximately 299,000 litigants, or $17.38 per person.

In response, Midland Funding created a “Consumer Bill of Rights” which includes:

  • Contacting consumers in a timely and effective manner, resolving accounts quickly and honestly, and ensuring collection practices that promote settlement and preserve dignity;
  • Establishing forgiveness and hardship guidelines, including the cessation of collection efforts when permanent hardship is demonstrated;
  • Suspending interest or fees when a consumer is making timely payments on an established plan;
  • Implementing the fair and reasonable use of litigation to resolve an outstanding obligation, and seeking to avoid litigation whenever possible; and
  • Committing to not resell defaulted consumer accounts in the normal course of business.

Sounds nice, but how does this bill of rights actually protect you? It doesn’t. All of the points outlined in the bill of rights are for the purpose of being more efficient and  effective at collecting debt and maximizing profits. Please keep that in mind when dealing with Midland Credit collection agency.

The Solution for West Asset Management Collection

Credit Firm.net has helped thousands of their clients delete Midland Credit Management and Midland Funding collection accounts from their credit reports.  If you have been contacted by Midland or have a Midland Collection Account reporting on your credit report, contact CreditFirm.net to improve your credit.

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

AFNI

by: .
afni collections

HISTORY

Founded in 1936, Afni Collection Agency got its’ start in Bloomington, Illinois under the name H.A. Slaven’s Collection Bureau.  In 1976, the company was purchased by Earl Anderson who changed the name of the company to Anderson Financial Network, Inc.  9 years later, in 1985, Anderson was joined by Bruce Griffin as new general manager, and the two began opening satellite offices for the collection agency around the entire country. All of the satellite offices reported to one central main office, which was located in Bloomington, IL. The company was later renamed Afni, Inc to shorten its’ name from Anderson Financial Network, Inc.

Afni is a full service collection agency which means that they are not only a debt buyer, but also a third party debt servicer.

Afni Complaints

Afni has a history of complaints for everything from intimidation and harassment  to debt re-aging. The BBB has  closed over 900 complaints for Afni over the last 3 years. Although there have been several complaints against Afni’s collection procedures and billing practices, they have yet to be fined or punished by the federal government (FTC or the CFPB).

Afni typically handles a lot of accounts for local towns, counties, and states. (Collections for parking/speeding tickets, toll violations, unpaid fines). Afni even handles collections for the IRS.

Knowing all of that, it’s not very difficult to see why the federal government has yet to act on any of the thousands of complaints to state attorney general offices.

Solution for Afni Collection Accounts

Credit Firm.net has helped thousands of their clients delete Afni collection accounts from their credit reports.  If you have been contacted by Afni or have a Afni Collection account reporting on your credit report, it will be in your best interest to learn your consumer protection laws, like the FDCPA, in order to keep Afni honest.

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

How to Negotiate with Debt Collectors

by: .

Debt-SettlementGetting behind on your bills can be suffocating, but getting back out of debt and paying off your creditors may seem like an insurmountable task.

Negotiating with creditors doesn’t have to be as stressful as it may seem.

Follow these 5 rules when setting your debt.

1. Create an Action Plan

Before you even begin contacting your creditors and negotiating a settlement, you must have a clear and concise plan of how you intend to repay the debt (lump sum or payment plan). Gather up all of your debt and figure out how much available money you have each month to pay toward your debt. Then divide that total amount into each individual account allocating a specific maximum amount you can afford to pay for each debt monthly. This will help you understand the limits of what you can and cannot afford to pay.

2. Ask for a Lower Interest Rate

Many people don’t know this, but collection agencies are allowed to charge you interest on the debt which they hold. This interest rate may not seem like much but can quickly double or even triple the total amount due in a very short period of time.  If you opt for a debt repayment play, ask your creditors to reduce or even eliminate their interest rate, thereby saving you money and allowing you to become debt free faster.

3. Low-Ball Offer

Start the negotiating process off with a lowball offer you know they probably wont take. If you have $2,000 in debt and the debt collector wants $1600, offer $100 to settle the account in full. Although the collection agency probably won’t bite on that offer, they will be more willing to reduce their settlement offer considering the huge gap.

3. Mention Bankruptcy

While negotiating for the best settlement option possible, be sure to mention Bankruptcy to the debt collectors as one of your options if you cannot workout a deal with them. Collection agencies paid money for your debt, and considering no one likes losing money, they may be more likely to take a lower offer from you instead of not getting anything at all.

5. Say No

Rejecting the collection agencies offers and hanging up a few times will dissipate any sense of urgency on your part and make the collection agency take the first step toward reducing the settlement amount. Saying no will give you the upper hand in the negotiating process and put you in control of the amount of money you settle the account for.

Bonus:

Tell the collection agency that you only have a certain amount of money toward paying off your debt. (Don’t tell them what that amount is.) But do tell them that if you cannot work out a deal with them, that you appreciate their time and help, but you allocated a certain amount of money toward paying off your collections, and if they can’t accept your offer, you will contact one of your other collection accounts and offer them the money.

Negotiating with collection agencies may be challenging, but if done correctly, it is possible to save a lot of money. Good Luck!

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

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