Progressive Management Systems

From what I have heard, a collections company can add interest onto an account, depending on the paperwork from the original creditor though. I think Virginia-Legal-Defense will have a clearer answer for this one.

~Mary

That's generally correct. Whatever the original written contract said the interest rate is, the collection agency can continue to add it in, up until the time suit is filed.

In Virginia, in an unwritten contract where there is a legal obligation to pay interest and no specific rate is provided for will still support interest charges at the "legal rate", which is defined by statute at 12% simple interest (last time I looked) - other states probably have similar provisions.

Thank you for the information. So even if the account is closed, they can continue to add interest?

If the account is closed, still you owe to them. So it will be considered as a loan and unless you pay the principal off, they will be adding up interest. Any other thoughts from members?

BTW, who are you paying, the collection agency or BOA directly?

We are paying the collection agency (actually our credit counslors are). I know that I owe the money, but was curious about the interest still be added after the account was closed by BOA and sent to collection agency. I hope that is a bit clearier.

Since the collection agency is receiving payment from your counselor there is no reason for calling you for money.

As per the interest rate issue is concerned, I would also suggest you going through the agreement papers. Also ask your counselor to negotiate with them with this topic.

I agree. They are a pain in the butt.

why does my credit report say i have gone to collections with you? i dont know who you are.

Curtis, you need to sort out your problem with Progressive Management System. This is not their website.

I dont know who they are and they posted a collections on my credit report Can anyone help

Yes, actualy they are a collection aggencie located in West Covina, Ca. They seem to be very persistant in collecting depts that in some casses are not even valid. So be very demanding in inquiring itemized statement for the collection, and do not pay the full amount as they can settle the accounts for at least 50%, If I also remember correctly there # is 866-767-8574 or 8577. try either or.
Hope this helps...!

I am currently dealing with them, too. They are brutal, and they don't tell the truth. My amount is small and I had insurance that should have covered it, and say they still will. It took over a month to get them to send me a statment so I could turn it over to the insurance. No one there is honest about anything. They told me they would bill my insurance, and a cuple weeks later called me back and told me they couldn't b/c there was a 90 day time period from the date services were rendered; even after doing a confrence call with them and my insurance company, who told them they had 12 months to file the claim they wouldn't bill the insurance. So here we are, over a month later and the lies continue. I finally got the itemized statement last week, after 3 or 4 requests. Then they told me to "stop calling them" since my insurance was going to pay for it. I told them I would stop calling when I got the statement. I think they were trying to get me to cave and pay the entire amount because my isurance will only pay the original amount and not all the interest, which is where they make most of their money. I know they get 40-60% of the balance as the collection agency but they want all they can get. They're horrible, I have already filed a claim with the FTC and plan on going further if need be.

Oh, and their phone number is 877-767-1035

Hi my name is Samuel D. Brown i receive a invoice form Dry tech Systems Collection management Co. the invoice state d that i owe Dry tech $ 170.00 with a account no cl28227-103134. How ever i would like to know what service,s did Dry tech perfrom for me were i owe them $ 170.00.
Samuel D. Brown
9404 White Ave K.C.Mo. 64138
(816) 389-7262
Thank You

Hi my name is Samuel D. Brown i receive a invoice with a account no. CL28227-103134
from Dry Systems Collection Management Co. State d that i owe Dry tech Systems a sum of $170.00. How ever i would like to know what service,s did Dry tech Systems perfrom for me were i owe them $170.00. If Dry Tech can show me were they render a $170.00 worth of service to me i would be happy to pay them.

Thank You
Samuel D. Brown
9404 White Ave
K. C. Mo. 64138


(816) 389-7262