creditors interchange complaints : Are they justified?

The check to Creditors Interchange has not cleared? Put a stop payment on it. When was the last time you made a payment on this account?

Here's some more info on Creditors Interchange:

http://www.budhibbs.com/debtcollectorpages/creditors_interchange.htm

We made a payment in August for the $105. No the check to Creditors Interchange has not cleared and I was going to stop pay on it but wanted I guess a second opinion. After I stop pay then what should I do and what if they do file a lawsuit?

If you haven't already, send Creditors Interchange a DV letter. They cannot pursue collection and/or legal action until they do so. First rule of dealing with collectors is no validation, no money! Period.

IMHO, I would close your account and open a new one.

You're in WI? When was the last time you paid on the account prior to the $105 you paid creditors Interchange? SOL in WI is 6 years from date of last payment. Just want to make sure that if SOL had already expired that you did not re-set it by making a payment you were coerced into. Also, if SOL has expired, then the debt is extinguished per WI state law.

Yes Wisconsin is where we are located. We haven't paid on the Creditors Interchange account in a while it hasn't been 6 years, this is a fairly new debt. I called the bank and placed a stop payment on the check and they set it up for 6 months they will not pay any amount. Unfortunately I can not change banks since I have closed accounts twice already because of payday loans etc. and the employers for direct deposit are getting a bit upset having to change info all the time. My bank is pretty decent about the stop pays, does anyone know if Creditors Interchange debits under any other name?

Forgot to mention the $105 was paid to Creditors Interchange not Capital One.

You need to contact Kathleen Hanna at the WI department of financial institutions ASAP 608-264-7969 She will help you with them. But do put a stop payment on the check.

When you talk with Kathleen, make sure you tell her as much as you can remember about the conversation. Plus after he called you did you ever get anything in writing from that company? Because the company has 5 business days after first contact to send you something in writing. I will also e-mail her and inform of this so she knows what is going on when you call. But PLEASE call and ask for her.

I just e-mailed her what you said, so when you call she should know. If I get anything back I will post it here.

Oh and I also live in WI thats how I know to contact her. She has helped me out so much.

Does Cap1 still own this account or has it been sold to a junk debt buyer, Creditors Interchange? How is it reporting on your credit reports?

I have not spoken to Cap1 about this, but I will call and find out if they still own this account. According to the letter and calls I received a place call RESURGENT CAPITAL SERVICES LP is who the account is with and Creditor Interchange is the collection agency for them for a CAPITAL ONE account. Today I received another letter saying "Notice of Intent to Deposit" and that they received my check, I never gave them a physical check and the last check went through as an ACH which is what I put a stop pay on. It says the check will be processed on the 19th unless I call them, honestly I don't wish to talk to them because of the way the treated us in the first phone call. Any ideas if you think that 2nd check will be processed as an ACH? I'm guessing so as most collections won't let you pay with a paper check but I don't know if they have sneaky ways of doing things and I'm a bit worried.

Also Puddlejmpr could you give me a bit more info about this Kathleen Hanna, who is she and how can she help. I did not get a chance to call yet and I thank you.

I really appreciate everyone's input, I do feel a whole lot better about the situation at hand. Lu

Kathleen works for the state if Wisconsin and she makes sure that CA's are following the states laws and are licensed. They can also go after a CA for violating the states collections laws. She has sent letters to many CA's for me that threatened they were going to sue me if I did not give them my bank info right there and then. She will inform you on your rights and you will be able to file a complaint with the state through her. I just got a letter from her about a CA that was trying to collect on an illegal debt and she got them to remove their stuff from our credit report and they are no longer going to collect on this debt. So usually once they get a letter from her they usually either back off or give up. She will help you through this. If you would like you can tell her that you are the one Danielle e-mailed her about. But make sure you kep a log of when they have called and any paperwork they send you. All letters that Kathleen sends out to the CA she will send you a copy also. So start a file.

If you have any more questions about her just let me know, I will keep checking the forum. Or you can just PM me and I can help you from there.

We are going through the same thing. We had a Captial One account that we owe about $16,000 on. We fell behing (recently) about 6 months even though I did make a payment to Captial One in July for $477.00. Creditors Interchange called us last Friday and threaten a lawsuit if we didn't set something up that day. I was so scared. Stupid me agreed to pay 25% by the 26th of this month. I even set up a post dated check. I am so stupid! We have never dealt with a collection agency. They even called my neighbor that same day and told them everything! We don't even associate with this neighbors. This was the first time that I even have spoken with them and they call my neighbor because I was at work earlier in the day. Now we are screwed. We tried calling Capital ONe today but the line goes directly to Creditors Interchange. We have made an appointment with a credit counseling agency but we can't get in until October 6th. What do I do? We owe the debt and I want to pay it but I can't do 25% now. Help! :(

Jenlynphi -I put a stop payment on my check, they actually converted the check to ACH when my first payment went through so keep that in mind. Please read the other posts in this thread they had very good advice.

I would contact a lawyer, b/c what they did was divulge info. That is against fdcpa laws. Find a lawyer who specializes in FDCPA & FCRA laws.

As to your issue, I would put a stop payment on the check and block them from any ACH transactions.

Did you ever send Creditors Interchange a DV? If not, I would do so immediately.

well latest update, I did put the stop pay on the ACH and now the calls are starting so I guess it worked. They now called my in-laws and left a message but I have informed them of this whole thing, I have not had a chance to call that lady in WI that was suggested and I need to get on this but we had other problems arise that got our full attention. Anyway that is the scoop right now. I have not answered any calls.

Ok I contact the Kathleen Hanna and waiting for a reply now I was wondering if I should be sending a DV letter and cease and desist for contact letter and how it should be worded. Any help is appreciated!

You can find templates of both on this site, tailor them to suit your situation.

you prob received the notice but threw it away thinking it was junk mail it happens all the time...and u never had to put the check on file...you know better then a collector what money u have avail

Well..............I think it's easier to deal with the OC. Just seems you can get something done that way. Do you know when the SOL is for this debt? Do you know what the 'fall off' date is? How long has it been since you've made a payment?

I have CA's call and tell me, "I need to make payment arrangements over the phone with them." I just politely tell them I will call THEM back. Boy...they don't like hearing that. CA's can be 'threating' sometimes. I just don't let them intimidate me.

can they take you to court for a bill.the bill is about a year old and i owe about 800.00dollars but i got laid off and i cant afford to make 50.00 every 2 weeks like before.can i get it reduced.

I did all of the paperwork. They called me, told me they would drain all the accounts with my name on them including my sons college fund he is 3. They bulled me into making a payment. Called tehm after they took 1st. payment. But I sent them all teh paperwork registered mail. yes I kept the green card. Are they able to do this to me? The bank gve me Feb 09 money but cannot give me 1-09 money does this mean I started the waiting it out plan?

Close that bank account and Change your bank asap.

vannasmom20021111, did you dispute the 1-9 payment as fraud? They should give you it back. They can give back up to 60 days worth once they are notified. If your just talking to clerks, talk to the branch manager, and as guest suggested close that account.

And no, they cannot clean out any of your accounts,not unless they go to court and get a judgement.

I had an old Capital One account that was deliquent. It went to collections for non-payment and when I did not pay that the Sheriff knocked on my door to serve me with court paperwork! I have heard from others that they have had the same experience with Capital One. My mother in law just had the same experience with Creditors Interchange legal department. Her case was going to litigation and court. Unreal. So many people are having terrible financial problems right now and to persue them this way is wrong. Where is our bailout money???

I have never felt so bullied in my life, but it will hopefully stop soon cause I'm in debt relief now with New Leaf Debt.

On May 18, I was told I needed to contact them by 3 p.m. (I did not). Today, I got a call from Jack there saying I needed to contact them by 3 p.m.; very serious matter; etc. At the end of the call he says really sarcastically "Good Luck."

When all is said and done, I'm going to write a letter to my local Attorney General and Pres. Obama about these scare tactics. This is like terrorism.

By the way, I was threatened 2 months ago by another collection agency with a lawsuit, and so far nothing. That is so wrong to threaten a lawsuit when you have no intention of doing so.

To contact your neighbors is totally illegal. File a claim with the FTC, and see if you can recoup $1,000 for it.

Contacting your neighbors is not illegal...they can contact them to try to find you...they cannot divulge why they are calling...that is illegal.

You need to sue in court to get the $1000.

Creditors Interchange is calling my home and office for a possible Sears account that we put in the hands of Option One Financial, a debt negotiating company last September 2008. I have informed them that they need to call my representative months ago. They are still calling my home and office. Aren't they suppose to set up some kind of an agreement with the company I am working with?

Legally they still can call you. Maybe Option One is not responding to them or they are choosing not to set up an agreement. You should probably be calling Option One to see what is up.

I also have CI hounding me for a debt that was sold to them. I put them into a debt management program and they sent my first payment back stating they do NOT deal with settlement companies or Debt management companies so they can hang and take me to court. When I get there I will tell the judge that they refused to work with me. Might not get me far but at least I will have the satisfaction!

Debt management programs are always done in volunatry cooperation. Your thinking will not get you very far at all.

Debt management programs are always done in volunatry cooperation. Your thinking will not get you very far at all. They are not refusing to work with you....they are refusing to work with the debt management company.

I have been a client for Hope for 10 months now and they have assisted me with all my debt troubles. they are not a settlement company nor a CCCS company. Some of my accounts are already paid off and others are still in progress. not bad since i am enrolled in a 3 year program. they assessed my capacity to repay all my debts. check out their website hopefinancialusa.com

I recently enrolled in a debt management program I have been current with payments for over a year and a half- One of my creditors - Creditors Interchange- I recently called to find out the balance of my account since I have been paying on it for a while at $250 per month- they told me I owed $21560 shocked I asked what the starting balance was they said $22500, I asked what happened to the money I was submitting - Fees they replied - he told me to "settle' account at $15000. I told him there was no way I could come up with that kind of money - I'm at the point where I see no point in paying these people money if they are only going to apply 10% of my payment to principle I will be paying for ever. My original creditor was key bank and they have already charged off they account which was sold to these low-lifes. Does any one have any suggestions should I keep paying them - I have contacted the attorney general for my state but that may take some time to hear back from them - Until then I need to make another payment. HELP

my son has them calling him about a debt of about 6500. a car loan do not remember the company we have been pay 63 a month by money gram but with interest and fees none going to principle. does creditor interchange by these bad debts? He wants to clear this up but is not working at this time

how about just paying the bill. looks like you didnt have the money before to buy what you wanted so you used a credit card. just go to your family and explain that you have a problem, like anything else you would need help with you cant expect to get yourself in trouble and then ask for forgiveness. these days everyone looks for ways out of paying their bills. dont be a loser, just give back what you spent

Do not listen to that idiot debt collector. Creditors Interchange violates the FDCPA and state FDCPA habitually.

Open your yellow pages or google "Debt Settlement Lawyers" in your state. I just sued Resurgent Capital and they settled because of blatant violations.

Keep a good call log and make them validate the debt like they would have to if the original creditor sued in court.

Ask for the original advertising, signed credit card application, etc. . .I would sue creditors interchange.

They know they are blatant and will settle quick. If they do not, take it to a jury and really zap them.

Is creditors interchange a phoney collection agency. Do they really help settle credit card accounts. Do they actually take money out of peoples bank accounts?

CI is harassing my mother over a debt of my brother's. He is married and has not lived with mom in 20 years. How can she get them to leave her alone? She is not responsible for his debts, and they call more than once a day!

Does anybody know whether this person (Lisa Tarnowski) is still working for CI? After my "business partner" fled back to his native Brazil in 2002, leaving me with more than $50,000.00 in credit card debt despite all his promises to repay, Ms. Tarnowski at CI was one of the many people who tormented me for months on end, at all hours. They of course also bothered my employers and my relatives with telephone calls, despite my having told them to stop this, verbally and in writing.
I'm not certain what the laws are now, but I found out that in 2002, these kinds of people WILL harass you if they feel like it, because the maximum penalty, if a debtor were to win a harassment lawsuit against them, was a mere $1000.00.
Renai Patrick, of a certain gigantic credit card company in Delaware, was another who frequently annoyed me on the telephone, until finally I sent a certified letter to her superior, who she claimed was in fact the president of the corporation. I scared her a bit by doing some research online and finding her residential address and then asking her on the telephone whether I should send the certified letter to the corporate address or to her home address (I casually yet specifically mentioned this address to her on the telephone, and this seemed to take her by surprise). I eventually got a telephone call from her superior, but my cell-phone reception was was poor, and the call dropped before much of anything was said. Ms. Patrick had even called my mother and given her the details of my unfortunate situation (that I had been left with all that credit card debt; this was extremely embarrassing to me).
It was a very troubling and desperate time in my life. Eventually I hired a bankruptcy lawyer, and a few months later, my debts were wiped away completely. After hiring the attorney, I called Ms. Tarnowski and told her exactly what I thought of her. It was childish and pointless, I know... but it made *me* feel better. It also made me feel much better to tell the creditors and debt collectors that from then on, they would have to speak to my attorney, and not to me.

This is happening to me too!! The first time I dealt with CI, I spoke to Demonte Miller. Mr. Miller scraed the you know what out of me by saying the company would make a lein assesment against me and my husband, we woudl also be forced to pay their attorney fees, court fees and extra interest on the account. Then another man called me, I forget his name but I have the letter he sent, telling me he was going to pulll my file form their "legal department". As long as I set up a payment plan of 1000 up front and 200 dollars every month until the balance wa spaid off. I phoned JAG asap. I then called back around tax time and settled. For the 2600 dollars. That was hard enough. This James guy told me he was putting my offer into the computer and seeing what the bank would agree on. I asked him if we were on Deal or No Deal. I thne proceded to tell him that I alrerady contacted JAG and filed a report with the NY Attorney Generals office. He then put me on hold again and came back and said Demonte Miller was fired and since he promised that settlement they had to honor it. What a crock!!!! First off, I called back after I gave them the payment, and asked for Demonte Miller. He still worked there. The payment was taken out Feb 4 2010. It shows on my bank statement that they recieved the money!! 5 short days later, I get a phone call saying they are having problems with my account and the payment didnt go through and I would now be held liable for the existing balance. now it's off to jag again. Maybe i will sue THEM. They are not getting another dime out of me! Any advice would sure help. We reside in WA.

Where do I get the DV? I am starting to go through the same thing with them but I don't answer their calls. They sent me the first collection letter.
I need guidance.
Thanks

I've read in other places that the person who is bothered needs to write a letter, stating that they are not responsible, to desist bothering them again and send it to the person bugging them, via registered mail. Keep copies and plan on suing if they don't stop.

I live in NJ. This past Monday I received a call from Creditors Interchange. They want a settlement on a Bank of America Account for 13,000 immediately or they will sue, etc. I am only behind one month payment to Bank of America. I am unsure as to whether or not Bank of America sold my account to Creditors Interchange, since the individual I spoke with said that they would have to see if Bank of America would indeed except the 13,000 (I owe 30,000 to bank of America) or they are working on behave of Bank of America because I would be making the check out to Bank of America. I have not received anything in writing from either Bank of America or from Credits Interchange. On Friday Creditors Interchange called me again, now the settlement is up to 15,000. After calls several calls to Bank of America I finally received the number to the law department. I am hoping to get answers as to why my account with them is with a debt collection agency, etc. I am hoping to rectifiy the situation with Bank of America. Any advice?

did you know in most states a 5 or 10 $ payment a mouth keeps the colectors out in the brake room rather then at your door also look at gov site FDCPA it's in a computer near you it contanies amoung outher things a templit for a cease & desist letter with directions to use it . but just make a mouthley payment 5 or 10 $ it works :D

thank your lucky stars you are not dealing with Weltman Weinberg and Reis they will sue. they usually handle bank of america and chase accounts. this company you are talking about will most likely not go through the expense to sue you. I am dealing with a few credit card accounts since I lost my job. Creditors Interchange is one of them. everytime I get a letter i send them $20 a month. It's bad for the credit rating but is holding me off until I can make an agreement with them. Also most of the credit collection agencies will accept 1/2 the cost over a 2-3 month period.

I just received a call from Creditors Interchange saying that they will drop about 30 percent off my debt. I had to make a payment today because they were not sure what Capital One may do to me If I did not give my checking information to them so that they can clear up this account.

I live in North Carolina, who do I contact?

I got a call from CI too. Bank of America charged off my credit card. Now I have to pay them what I was overdue in payments to even get a monthly payment program started. It is horrible, but I have no other options.