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HELP! Capital Management Services is so mean!

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I got laid off in 2006 and hired a debt settlement company to help settle my debt. Out of 7 credit cards I only have 2 left to go and had to remove the debt settlement co. due to shady practices recently. This "Capital Management services" constantly hounds me and usually just leave a message that I need to call back immediately. Well, I owe them 2900.00 (1000 is interest) and call them and offered 30 percent and at first the woman was polite and then transferred me to her manager. Suffice it to say she told me to stop using the children and student "card" and that I shouldn't assume they would take 1000.00 EVER! She wanted 50% on the spot plus the rest in 2 payments...I simply cannot afford that. I started to say that I wish they would work with me and she hung up on me. This was after she was being quite mean about how irresponsible I am. I called them back to let them know I has tried to settle amicably and started to say I didn't appreciate them hanging up on their customers. He said that I am not a customer but a person on collection and they do not have to offer me any good customer service because of it and he hung up! I want to pay this off after I settle another account in process (in a few months or so) I do not want to call them back. Any suggestions?
Side Note: When I was transferred to speak with the manger and was offered the 50% plus payments and counter-offered with 1000.00 to settle she said the call was being recorded with me refusing to pay debt. I of course answered I was not refusing but attempting to pay with a settlement...anyway she hung up as I stated before.




valenzuelasq, wow what a story. Why did you leave the debt settlement company when they settled 5 credit cards with only 2 more to go? Really how shady could they have been since they did settle the accounts. So now you have to deal with the creditors yourself.

Anyway, i would suggest doing all of your communication with the creditor via written correspondence. Also you'll want to be sure that you have sent it using certified postage. This way that is your proof they have received the correspondece.

Really wish you all the best.

Sub: #1 posted on Wed, 08/27/2008 - 22:00

melben1 melben1

(Posts: 40 | Credits: )

I left the debt settlement company because when I was sued by Mann Bracken a few months ago I found out they had not been working on my file since september of last year and only paying themselves their monthly fees off of my monthly payments to them. They also left me to my own defenses when I was summoned by Mann Bracken and said the only offer they could get was 75% of the balance since it was already going through legal proceedings. I dropped them after advice from relatives. Alos the debt company had never even corresponded with Mann Bracken or the original creditor to even attempt to settle. I ended up settling with Mann Bracken at 50% before the court date was imposed and finished with them. Now I have these 2 accounts and it looks like one of them is about to accept 25% of the balance (with doubled fees plus original credit balance, total is about 10500.00). As far as trying to talk to the jokers to settle the 2900.00 debt, I am concerned and confused why they did not seem to want to negotiate at all. Thanks for your reply.

Sub: #2 posted on Wed, 08/27/2008 - 22:11

valenzuelasg valenzuelasg

(Posts: 3 | Credits: )

That is too bad, sorry to hear about your bad experience. being able to do correspondence by mail with certified also helps so if they take you to court then you can show in proof that you have been trying to negotiate a settlement.

Sub: #3 posted on Wed, 08/27/2008 - 22:44

melben1 melben1

(Posts: 40 | Credits: )

I work for a settlement company and I have spent hours upon hours on the phone with their compliance department. They have called my clients representing themselves as us and urging/encouraging/forcing clients to take settlements much much higher than the accounts should be settled for. They have access to clients credit reports and have called claiming to be the clients mortgage company and said they were evicting and foreclosing if they didn't pay the debt, said they were a clients insurance company, auto finance company, they have called a Senior when Junior was enrolled in the program and pulled his credit report and abused the Senior until he paid his son's debts. They are extremely nasty and have a horrible reputation. Outside of Senior Management and the compliance department, they turn collectors over faster than any company I have ever seen.

Record your phone calls, let them know they are being recorded and they will go away quickly. They aren't buying the debt, just collecting and they will have to turn it back to the debt owner for reassignment soon enough. Their contract normally runs 180 days.

Sub: #4 posted on Sun, 08/31/2008 - 07:50

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Good info.

Sub: #5 posted on Sun, 08/31/2008 - 14:07

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Don't deal with these jerks over the phone again. Send them a DV letter and force them to validate the entire debt. They will just try to get as much from you as they can, so make sure what they are trying to collect is correct, then offer them a settlement in writing.

Sub: #6 posted on Sun, 08/31/2008 - 17:12

goldenbast goldenbast
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(Posts: 2885 | Credits: )

I called them today and had to deal with nonsense. they reduse to send me a letter that have my balance reflected on it. they were really trying to push me to give them post dated check. it is so hard trying to deal with these people.

Sub: #7 posted on Tue, 09/09/2008 - 18:42

changetobedebtfree changetobedebtfree

(Posts: 108 | Credits: )

Send a DV letter, CMRR. If they refuse to respond to THAT then you have some ammo if you decide to take them to court. In most states, CAs don't have to validate or don't have a time frame in which to do so. A way around that is once you get the receipt back that they got the letter, you then turn around and dispute the items with the CRAs, that way when they verify with the CRAs...they have just violated since verifying is considered 'continued collection activity' and if this was done on all 3 CRAs, that is 3 violations and you could sue for $3000.

Sub: #8 posted on Wed, 09/10/2008 - 06:29

goldenbast goldenbast
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(Posts: 2885 | Credits: )

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