Does Accounts Receivable Tech. take accounts from Ellis

Hi MD,

Welcome to the forums. Before you took the loan, you must have been given information of the calculation of interests and other fees charged on defaults.

If you find the present calculation not matching with the one stated in the agreement deed, you can dispute with them and ask to verify it.

Also, they need to provide you information if they are licensed to collect the debt in your state and a copy of the agreement letter showing that the creditor has assigned the collection agency to collect debt from you.

Verification of SOL for the said debt also needs to be provided in the debt validation process.

Send your correspondence through certified mail with return receipt requested so that you have it for records.

Regards
Roxette

I setup payment arrangements stupidly with Account Receivable Technologies on 10/1/05. I borrowed $300 from Bahamas Marketing group and $300 from PPGC back in March 2005. I received a bill in the mail from ART saying I owe $1215 with the name Bahamas marketing Group next to it. I called them up and said i owe 2 loans not one. They said the loan for BMG is for $688.50 and the loan for $PPGC is for $526.50. I said tell me how you come up with those calculations when i only borowed $600 total with each having $90 fees. So a total of $780. They tell me BMG sold them the account for $510 and PPGC sold them the account for $390. I said ok that what i should pay. The collector Mike Gallo tells me ART charges collection fees of $178.50 on the BMG loan and $136.50 on the PPGC loan. I got fed up and said ok lets just setup check by phone and pay this off so this headache will go away. So i gave my back information and he sets up 3 payments for October, November, december in the amount of $175.50 + $20 each check for processing for a total of $195.50. That's just the PPGC loan totaling $586.50 (from $300). Then he says in January we will work out the payments for PPGC for 3 months in the amounts of $229.50 + $20 processing fees each check.

I called back 1 week later and said to Mike Gallo to send me a bill indicating that I owe 2 loans totaling $1215. He said he would and I never received anything. I call today 10/17/05, I speak to someone else handling my account and named Sylvia who puts me through her manager Fran and I told fran that i would like her to validate the debt by sending me an itemized bill in the mail. She said they can not do that. I said any respectable company could do that. She said she would tell me over the phone but i should look at my old bank statements to see what I owe and agreed to. I said if you are getting paid a collection fee then I want you to do the work for me. i said i am not paying $20 extra per check chargeand she said i have to or mail my check in by 10/31/05 or else she would revert the collection back to the original company that i am refusing to pay the debt. i asked if she had any affiliation with Ellis Crosby and she said no but if I call them they will charge me at least over $1700.

I don't mind paying off debt but I am not too sure about this company and now I am worried that they have my bank information. any recommendation?

Dale, you have posted this one similar to the last one posted here. Please go through this thread.

http://www.debtconsolidationcare.com...st-credit.html

I just received another letter from Accts Receivable telling me that because I did not pay on time, they added $498.00 in penalties on to my account. The bill is now at $1496.00 and each time I call they tell me if I pay in full I can avoid all the fees that are being added. I looked again at my loan paperwork, my original loan was only $300.00. How can they do this? I am more than willing to pay but if they add on interest and penalties this fast I will never catch up. Is there anyone I can call on this?

Knee,

Firstly, request Accounts Receivables to put the calculation of interests in writing as you will like to go through it.

You must have read the agreement letter which states the interest calculations on defaults. Please read it and compare if the agreement tallies with the calculation put in this statement.

If so, then you will have to make large payments each month to catch the loan amount. Otherwise, it will keep increasing faster.

If the calculation in the agreement does not match with this one put in the statement, then you can dispute with the lenders and ask for a revision. Hope that you will get a correct and legitimate statement this time.

Regards
Roxette

Accounts Receivable claims that they sent me a notice on the 28th of September, 11th of October and the 17th of October. Still have received none of them. I sent them a debt validation letter on the 11th of October by certified mail and they received it on the 14th of October and I had the return receipt back on the 18th of October. How can I not be reciving their letters but mine only took four days. They have yet to validate the debt. If they don't validate the debt, what steps can I take to make them validate it? These are the rudest people to deal with.

mom of twins

As you know the importance of sending the mail certified, the collection agencies also know about it. If they have a genuine claim, they will send it certified anyway. But these pretexts of having sent(without certified) are used when they are lying.

They won't pull it to the court otherwise they will be required to prove their efforts made. Please keep your CMRRR serial number in safe place.

Until the debt gets validated, you can refuse to pay it. It is your federal right to get the debt validated from the agency and until it has been done, you can refuse to pay it.