About Michael Brotherton Expertise Consumer/Debtor Rights Advocate.
Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years.
We are well versed in Loss Mitigation practices and the legal collection process. We have helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com.
We actively promote Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY.
Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be.
Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems.
www.financialemergency.com (copy and paste in browser).
Experience 28 years in financial services industry as a loan officer and debt collctor. Developed bankruptcy and loss prevention manual for large finance company for manager training. 15 years as a debt counselor and consumer advocate.
Education/Credentials Veterans sponsored OJT Manager Candidate Scool for AVCO Financial Services, Keystones to Management for ITT Financial Services, Certified Finance Management for Associates Financial Services.
Question I think this is a scam:
I got a call from a collection agency(Portfolio Recovery Associates). They said I owed a $423.52 debt to a company (Capital Acquisition & Management Co). They said the original account was for a debt from AVCO.
They said my last payment was posted in 1986 and the account was charged off in 1982. (26 years ago!)
They said they purchased it in 2004. I asked them what was the account for, and they could not tell me (they did not know) They could not give me any exact information.
I want to pay this bill if I owe it, but for the life of me, none of this rings a bell.
I do not want to get scamed. I want to preserve my credit report.
What should I do (or say) if they call again.
I also did a google search on (Portfolio Recovery Assoc) and it just came up with a whole page of scams and complaints...
Thanks for your help...
Answer First, if it has been that long you have went well beyond the statute of limitations. You no longer owe the money. The collection agency knows that and are trying to take advantage of the situation. Keep in mind that they cannot report this to your credit either. If they do they are subject to civil penalties if you sue them.
If they call back inform them of what I said and that you are no longer responsible for this account. Get a physical address and if they call back send them a certified letter advising them to cease and desist all contact. If they persist file a complaint with the Federal Trade OCmmission and file suit against them for harassment.
By the way, I started my finance career with AVCO Financial Services in 1980. They havent been around for a long time.
Disregard the collection agency. They will go away.
