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question on what to do?

Date: Tue, 05/20/2008 - 11:35

Submitted by anonymous
on Tue, 05/20/2008 - 11:35

Posts: 202330 Credits: [Donate]

Total Replies: 8


My parents have a debt that they are aware of and do want to pay, it is a little over $5000 dollars. The debt was because of a life threatening illness and could not be avoided. Since this illness occurred their financial situation has been dire at best. At the end of last year a debt collector contacted them by telephone, got their bank information and has been taking monthly payments out of their account. He also made a deal with my father that my parents would sell their timeshare property and and that would cover the rest of the debt. The debt collector told my father that he would give him until the end of April to do this. My father immediately put the timeshare on the market and has reduced the price several times and it still has not sold. None of this has been in writing and my parents have never received any written correspondence from this debt collection company, only via telephone. The debt collector is now telling my father he needs to pay in full immediately. They do not have the money to do that. He is willing to make payments.

After reading many posts in this forum, it seems to me that this debt collection agency should validate the debt. My parents do not even know the name of the company. They do have the phone number which is 972-301-4386 which is Texas based and they do live in Texas. What else should they do? Again, they are not trying to get out of paying, I am just concerned that this company does not appear to be acting legally and may try to get more than what they owe out of them.

Can someone please give me some guidance on what my parents should do next?

Thanks!


find out the name of the company (the bank has to have some sort of record I'm sure), send a debt validation letter, have them order their credit report as well as that might show the name of the creditor. Also check on the date of the debt, it might be past the statute of limitations as I've read that Texas has some very different laws than the other states.
Good luck!


lrhall41

Submitted by smo65d11 on Tue, 05/20/2008 - 12:09

( Posts: 1467 | Credits: )


Find out the name of the company as mentioned above. Your folks will probably have to revoke the ACH agreement which they can do. It is a violation of federal law to require electronic payments. It may require closing their account. Thare is a good chance that Texas Advocate Bud Hibbs (www.budhibbs.com ) has his sights on this Texas Collector. Go to the site and check it out! The phone number reveals nothing is a Google search!


lrhall41

Submitted by Frogpatch on Tue, 05/20/2008 - 12:22

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Okay, so my father found out that they are called Credit Management Services and he also got their address, it is based in Dallas. I looked online and found them on the BBB website, there has been 1 complaint against them in the past 36 months and the consumer didn't take it any further than the initial complaint. I couldn't find anything on the Bud Hibbs site about them. I also went to the Texas AG site and could not find a license for them, maybe I am not doing it correctly. So would they now send a debt validation letter? And revoke the ACH agreement?

Thanks for all of your help so far!


lrhall41

Submitted by on Tue, 05/20/2008 - 14:43

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CREDIT MANAGEMENT SERVICES INC
600 MONTGOMERY ST STE 4500
SAN FRANCISCO, CA 94111-2820

Status: IN GOOD STANDING NOT FOR DISSOLUTION OR WITHDRAWAL through June 16, 2008

Registered Agent: JOE EDELSTEIN
5302 BELTLINE
DALLAS, TX 75240

File Number: 0011990006
SOS Registration Date: August 15, 1996
Taxpayer Number: 17526623982


lrhall41

Submitted by on Tue, 05/20/2008 - 18:56

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Guest, thank you for that information. Here is my new question. Does this license allow them to operate as a collection agency in Texas? I had thought they also needed to have a license in Texas? And neither of these addresses matches the address they gave to my father, does that matter? I hope I am not seeming difficult, I just want to have lots of information to pass along.

Thanks!


lrhall41

Submitted by fivelist on Tue, 05/20/2008 - 23:01

( Posts: 2 | Credits: )


I just got a call from the same people. The guy was pushy but nice enough, until I said that I would need to call the Bank and verify any monies that they think I owe them because I DON'T owe them any that I'm aware of. "Randal" said, "I've got your ss# with the last 4 digits as XXXX, you just sit back and watch what happens"....then he hung up on me.

UNBELIEVABLE!


lrhall41

Submitted by on Mon, 03/16/2009 - 07:58

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