credit restoration - Rancho Credit Management

Anyone has heard of Rancho Credit Management in Encinitas, CA?
I have received a letter that I owe quite large amount to them, with original creditor indicated.
I straight to Better Business Bureau site, but could not locate them. They even do not have website, etc.
First I need a verification of this debt.
Then, I need to know if this company is credible, I mean a good one to deal with.

I cant tell you about Rancho Credit Management, but I can tell you about the site that you are on now. Something brought you here so take advantage of the vast knoweldge here. As you can see, there is debt consouling here, just ask.

Luke

Ok... I actually called the number posted here, but no one called me back. And I saw similar postings, so here I am asking.

If you are unsure about this company, send them a debt validation letter to make sure they are the ones who are supposed to collect on it.

Did they buy the debt, or are they just collecting on the debt? If they are just collecting on the debt, you can call the original creditor and see if you can work something out with them instead.

Since this is the weekend, it may be Monday before someone calls you back. If you have registered, just keep trying...Good luck, let us know what happens..karen

Hi questionable,

here is the contact number of Rancho Credit Management, 760-944-9676. Hope it works.

Though I don't have a first-hand experience with this CA, but I feel there is no reason to feel that they will be exceptionally easy to deal with.

Do you remember having this account with the creditor mentioned in their letter? How old is the debt? You may also wish to look into the Sol of your state.

Dear Questionable,

I agree with Bossy very much and ask you to verify the debt with the concerned CA by sending them a debt validation letter. If they do reply then you will know the creditor for whom they are collecting. Now, contact the creditor for settling the debt.

Creditors might be willing to settle the debt with you without involving the collection agency because some CAs charge a commission of 50% of the collected amount. So, anything below is negotiable by the creditor.

Now, if the collector fails to validate the debt then you can also sue them up to $1000.

Regards,

Phoenix

This company just called one of my family members ( they said they got the phone # on the phone book, said that there were 5 people that has the same last name, and called all of them if i leave there & they're collecting a debt) which i don't even know this company. my question is that legal that they looked up on the phone book & just ask any that has the same last name?

thanks

concern---it is perfectly legal for them to look up relatives in a phone book. HOWEVER, it is NOT legal for them to tell that person "we're looking for John M. Smith, we are trying to collect a debt of his." It is 100% illegal for them to disclose anything about the matter to a third party.

Also, the law only allows them to contact a third party because they are trying to locate you. If they have called you at all or sent you any letters, then they have already located you, which would make ANY call to someone else about this matter illegal.

Rancho Credit Management, also known as Card Services, The Trading Post, Fidelity Settlement Group, or Golden Arch Cas*no is a real company. It's involved in debt collections, interstate tobacco sales, online gambling, and, I believe, debt consolidation.
The company is owned primarily, 95%, by Richard Burns. 90+% of the debt owned by the company is out-of-statute, four years or older; you should always ask what the write off date of the debt is, especially with them. Some of their collectors will insinuate prosecution, they like to tell people that they are in the "pre-legal" department, THEY HAVE NO PRE-LEGAL DEPARTMENT, they're just debt collectors working from home, or from the office, in Encinitas.
Some of the collectors will threaten out right with prosecution, they do this on out of statute debt. It's illegal. A bunch of debt collectors, sitting at their cubicles, dialing away. They work on commission, and salary, typically 20% of what they collect.
The company says it employs independent contractors, but they supervise employees, and monitor hours, which is technically illegal, if you're employing independent contractors.
It's probably just an I.R.S./tax evasion tactic. From what I know, their books are completely out of order. If the I.R.S. decides to take notice, I don't think Rancho Credit Management will be around for long.
As I said, though, it is a real company. If they own the debt, they won't own it six months from the time they call you; they'll sell it to someone else.
What they really want is for you to sign a promissory note saying that you will pay the debt, that way they have a binding legal document/agreement; they want to turn out of stat debt into in-stat debt. In-stat debt is worth more.

nothing is free in this world!!!plastic fantastic is the way most americans live howbout paying cash for what you need and quit .....living like pigs buying things we dont really need and then when its time to pay the bill no body likes paying there bills thats why bill collectors and lawyers will always have a job...and for all those folks who are looking for jobs have you ever thought about a collections job.....

Rancho credit managment is a real company that is part of the aca and cac and the bbb i looked them up. they have in and out of stat debt not only out of stat so who ever wrote the second to last comment probably got fired by that company lol pathetic and sad

To me it sounds like a "credit repair" company in which, my opinion, there is no such thing to take the place of yourself and time to repair your credit and all the rest is just out there to rip off the poor person who does not have a clue of what they are getting into.

I got the same letter and I called the FTC and they refered me to double check with the ACA. They are a legit company. I called Rancho Credit Managment at 866-575-4691 and spoke to a man named Charles who was not the smartest guy but it turns out that the credit restoration program is a way to make payments and have the negative trade line be reported postive and they start a new trade line. If your looking to rebild your credit its a good tool if not then its useless.

Guest, Im still confused about what you are saying, sorry, can you be more specific?

Thanks,
Luke

I guess the break down goes like this. Say you owe visa $500 and they have reported a negative trade on your credit report. If this company buys your debt and you agree to be part of the credit restoration program then what they would do is report paid in full on the negative trade that visa put and start a whole new postive trade line as if you got a whole new loan. The way that works is they have you sign a promissory agreeing to pay an ammount that you think you can afford. The upside is that you would have a positive current trade the down side is you would be paying of the whole balence to where if you have a chunk of cash saved you could probably settle the account for 40% of the debt.

Just Pay your freekin' bill!!!! Or at least make an effort. You get youself in this mess on your own. Nobody forced you to get anything on credit. You want to live that American Dream? Its not free. Treat the situation like you were the one owed the money, and I bet you would be singing a diffrent tune! Be honest with yourself when you get something on credit. Theres probably a reason you can't afford it in cash.