Riscuity threatened to arrest unless payment in full
Date: Wed, 09/28/2005 - 07:41
The fax has been kept on file.[/samebox]
the validation of the debt should include the original amount of
the validation of the debt should include the original amount of the debt, the amount of any payments applied to the debt (and date) and the current balance. any fees. interest etc needs to be itemized and if niterest the method of calculation needs to be stated.
ACH run on accts
I notice several people giving what I feel is wrong information. MOST payday loans have a notice in the P-note that states the OWNER can run, re-run with no guidelines to number of times an ACH or check until the bill is paid in full, Riscuity is the owner now as they purchase the debts. they do NOT have to get your okay to run the check, they already have it in the note signed. They do by law have to give you proof if you request it in writing, proof would be a copy of the check front and back, if you don't want a call at work you need to make sure you send certf mail a notice staying the time you can be reach by phone or an address you can be reached at. state you do not want at any time calls to your job, your spouse or family homes or jobs, make sure you clearly state do not call wife, parents etc at home or work. I also suggest you close any account they might have numbers to, they WILL rerun the check and the agreement you signed with the original loan gives them the right to do it.
[quote=fdcpa Coll Auditor]payday loans have a notice in the P-no
[quote=fdcpa Coll Auditor]payday loans have a notice in the P-note that states the OWNER can run, re-run with no guidelines to number of times an ACH or check until the bill is paid in full.[/quote]
This statement is correct, but the amount of times to run the ACH are usually limited to 2 times a day on each payday. Your financial institutuion usually will only allow for that many times from the same merchant. If many times were allowed, then the payday companies would be hitting your account 2 times a day each day.
The payday loan companies can continue this process for months if need be, till the loan is paid off. However each time they run into a problem with NSF, they attach their $29 NSF fee, increasing the amount to pay back.
Reading over your loan agreements will clear up any confusion on this.
Regards-
Mike
some paydayloan contracts do not contain an assignability clause
some paydayloan contracts do not contain an assignability clause and as such if sold they may not be enforceable by the debt buyer, although this is someting that has to be challenged in court
. Debt buyers are also considered collectors under the fdcpa and subject to validation. Such validation can and should include legal proof of ownership of the debt.
the advice to close the account is right on the money.
to JJ and Mikey
I did an audit for the business or most of the sale of portflo out on the web that is now Riscuity paper.I NEVER worked for them, I worked for an other co. looking into this paper, they DO,,,,have the clause, most 99% all do if you read the small, and I mean very small print on the back. I did not mean they can run the checks more than once each day, I mean to say they can continue to run the ACH until the bill is paid or the account is closed. In most cases they will do it every 4-6 wks, around the 1st, 15th most paydays for people. JJ I don't know who you got your information from but in sales you purchase the same rights as the original lender. The SOL everything runs the same, old payday loan co did not have things together but I can tell you the ones lending over the past 2 yrs do, they are covered, and now that banks do not give you the orig check back they can issue statements of rejection with the account information so remember to review the contract not just the check information. the safe way is to close any old accounts, open new and possibly at a different bank, or have a spouse be the main party on the account, (using his or her ss# to open) collection agencies can not garnish a account unless court approval, if you change the account they can not touch it unless you are taken to court, a judgement obtain then and only then can they attach you new banking account. And again that also depends on your state and the laws in the state you live in. You safe way is always request proof, review the proof closely, then if you owe it, pay it or start paying, Money orders only, pay each and every month until paid. put a cease comm with the payments and a notice you will pay each month x amt until paid and make sure you do it. They will not like it but they will not process it further if you are paying each month. now don't go paying 1.00, that DOES NOT stop action, pay 25.-50.00 on a bal up to 1000.00 like I said they may not like but you will soon see it paid out. just KEEP your MO proof each month. THese bills get sold so oftern sometimes they resell a paid out loan. keep it like you would keep a IRS folder.
auditor, while you might be able to purchase the rights, one can
auditor, while you might be able to purchase the rights, one can argue in court about the assignability of those rights and whether or not the contract permits such assignment. My information is sound, and yes I realize that this is something that has to be argued in court and that judges may not rule in the debtors favor. that aside thank you for the clear and accurate discussion ono how to protect one's self. your willingness to share your knowledge is appreciated.
Quote:JJ I don't know who you got your information from but in s
Quote:
JJ I don't know who you got your information from but in sales you purchase the same rights as the original lender. |
The information is question (Does a debt collector who purchases a debt assume full rights as the original creditor? NO) come from the Federal Trade Commission in several staff opinions, however its most clearly spelled out in a staff opinion to Arbuckle of midland credit management. The staff opinion can be viewed at
http://www.ftc.gov/os/statutes/fdcpa/letters/arbuckle.htm
Quote:
UNITED STATES OF AMERICA FEDERAL TRADE COMMISSION WASHINGTON, D.C. 20580 Division of Credit Practices Bureau of Consumer Protection ~ Clarke W. Brinckerhoff Attorney December 22, 1993 Ms. Kimberlee Arbuckle MIDLAND CREDIT MANAGEMENT 500 West First Street Post Office Box #576 Hutchinson, Kansas 67504 Dear Ms. Arbuckle: This responds to your letter dated December 2, 1993, inquiring whether Midland Credit Management, Inc. ("MCM") is a debt collector under the Fair Debt Collection Practices Act ("fdcpa" or "Act"). You report that MCM "purchases portfolios of delinquent accounts receivable for the purpose of profitable recovery, resale and cure. These accounts are owned solely by MCM . . ." Section 803(6) of the FDCPA defines the term "debt collector" as "any person who uses any instrumentality of interstate commerce or the mails in any business the principal purpose of which is the collection of any debts, or who regularly collects or attempts to collect, directly or indirectly, debts owed or due or asserted to be owed or due another." In our view, a party that purchases delinquent accounts from the party to which the debts were originally owed and attempts to collect them from the consumer debtors fits clearly within that definition. The party is attempting to collect debts that were "owed or due another" and the fact that title to the accounts is passed to the collector in no way changes that fact. In the leading case on point, involving a company whose business included the purchase of large volumes of checks that had been dishonored and subsequent collection of the checks from their makers (in the same manner as MCM buys defaulted accounts and thereafter attempts to collect from the account debtors), the court wrote persuasively that the purchaser is covered by the FDCPA. It gave short shrift to the fact that the party had actually purchased the checks in question: By use of the language "owed or due another" Congress was attempting to exclude those entities that extend credit from the effects of the Act. Congress intended to protect borrowers from "third persons who regularly collect debts for others." (Italics by court; citation omitted). (The purchaser) is a third party collecting a debt originally owed to another. . . . It cannot escape the spirit of the Act by the technicality of purchasing the debt upon default so that title technically rests in itself. Holmes v. Telecredit Service Corp., 736 F. Supp. 1289, 1293 (D. Del. 1990) The only theory for exclusion of a party such as MCM from the "debt collector" definition (and thereby from coverage under the FDCPA) is that it is a "creditor."(1) Section 803(4) defines "creditor" as "any person who offers or extends credit creating a debt or to whom a debt is owed, but such term does not include any person to the extent that he receives an assignment or trans-fer of a debt in default solely for the purpose of facilitating collection of such debt for another." Since the accounts that MCM buys are delinquent when purchased and are being transferred for the purpose of collection, we believe that MCM is within the class that the "creditor" definition expressly "does not include."(2) The words "for another" at the end of the clause excepting assignees from the definition of creditor in no way changes this result: (T)he excluding factors in the exception are that the debts are the result of an assignment or transfer and that the debts were already in default at the time of assignment or transfer. With the phrase "for another" at the end of the exception, Congress merely intended that the debts should have originally belonged to another and that the creditor was therefore in effect a third-party or independent creditor. (Italics by court) Kimber v. Federal Financial Corp., 668 F. Supp. 1480, 1485 (M.D.Ala. 1987). Accord, Holmes, supra, at 1293. In sum, it is our view that a party that obtains consumer obligations in default for the purpose of collection is a "debt collector" under the FDCPA, even if that party actually purchases the accounts from the original creditor. The views set forth in this informal staff opinion letter are not binding on the Commission. Sincerely yours, Clarke W. Brinckerhoff 1. Section 803(6)(A) only specifically exempts creditors' officers and employees. However, it "seems clear from the legislative history of the Act that Congress intended that this exclusion cover creditors themselves as well as their employees." Holmes v. Telecredit Service Corp., 736 F. Supp. 1289, 1291n.3 (D.Del. 1990), citing Kimber v. Federal Financial Corp., 668 F. Supp. 1480, 1484 (M.D.Ala. 1987). 2. See the comment on this subsection in our Staff Commentary on the Fair Debt Collection Practices Act. 53 Fed. Reg. 50097, 50101 (Dec. 13, 1988.) |
there are several other FTC staff opinions available on the FTC web site regarding this and and many other issues. They can all be found at:
thanks Clay, I was using my own experience in contract law, havi
thanks Clay, I was using my own experience in contract law, having negotiated several million dollars in contracts over the years. It was nice for you to provide the backup info.
JJ, rights once purchased
I fail to understand what you are saying, one should know anyone collections by the agency falls under fdcpa, that does not alter the contract being collected, nor does it state they can not redeposit checks. It only says the law views then as 3rd party collections falling under the FDCPA, the FDCPA does not in any way alter the contract for redepositing the checks. I am sorry but some how maybe I missed something. the rights are not altered in this statement, only that the agency purchasing falls under the FDCPA, and if you read the FDCPA it has guidelines one must follow to assure harrassment does not happen or other violations of contact, 3rd party disclosure etc. nothing to do with purchasing paper contracts. The purchaser does have the rights to redeposit or collect the debt as the owner at the time. remember first party collections do not fall under FDCPA, that is what this letter is about, not the content of the purchased contract.
Payday loan contract
I might suggest you contact any payday loan company and just ask if they can send you a copy of the general contract, it clearly protects the lenders and sales of the agreement. people should read the small print, that is what the courts must go by, if you signed a contract, clearly noted what can happen and you agree, you pay in the end. I find no case law that anyone tried and won on payday loans such as what Riscuity is depositing. I understand from several attorneys no one wants to take this on as it would be a very hard case to win. If you can find cases showing differently please give me notice of them as I would like to use them in my training program.
fyi
Just a note to let all you know Riscuity has made changes, the staff is now fully managed by a different person, a man who believes in respect, fair treatment and things are looking up, "no one has been fired", but RIscuity noted the need for change, let us all hope this change will be positive to all and give more satifaction to those trying to clear their names and debts. I know the re-depositing will go on, as per contracts but the changes in management positions should show in the way people are treated when they call. I hope this shows Riscuity does care, sometimes we go down paths and have to go backwards and take other paths before we get to the place we need to be, if one can not get satifation with the collector ask for Mr Ragsdale, he is a man that cares and will see your concerns are viewed fairly.
Riscuity
The bottom line is this:
But a phone recorder and turn it on every time riscuity calls. Send copies to the appropriate Government agencies. You will be amazed how quickly they disappear from your life.
freezing bank acc.
can a collection agencie freeze your bank acc.if it has enthing to do with the bank. I live in texas.
Carth, could you please elaborate your query? You can only acces
Carth, could you please elaborate your query? You can only access your account, no one else can operate it. However, if the CA is holding this account, then perhaps they have closed it as it is in negative status.
Who is riscuity
I found a record from Riscuity on my credit report. It was listed as a collection account opened in 2005 and I do not have any past due accounts or bounced checks (I just ran a report 3 months ago). When I called 4/10/06, I was given the voicemail of Diane Lucas who still has not called back. Now each time I call, I am transferred to an automated general mailbox where I can leave a message.
The number I have for them is 800-670-4924, but I will try the others listed on the previous posts.
You can dispute the entry with credit bureaus too. Sometimes you
You can dispute the entry with credit bureaus too. Sometimes your credit report shows incorrect items due to some faults on the part of CRAs too. Once you dispute it, they will open an investigation and rectify the incorrect item.
Knee you are right!!!!!!!!!!!!!!
They did me the same way leaving ugly messages, I was unemployed and I could not pay my loan back.So I was going to pay them when I got my income taxs. That was fine until, some thing else came up and I had to use my money. To make a long story short, They called me at my new job called my Hr. Depart. and said they where going to put me in jail, and a lot of things, so I called my LPD and they told me only if the company I wrote the check to presses charges than I could go to jail but other than that it would go on my credit. So I am not giving them any thing because of how unprof. they where!!
WHATCH YOUR BACK IS RIGHT!!! You can not get any number from them or address. If they want you to pay your account off wouldn't you think they would happy to give you that info???????????/
and if it was a payday loan they likely cannot press charges
and if it was a payday loan they likely cannot press charges
FRAUD
You are right when people get payday loans they need help, but when they sell it to people like you why should we even worry about paying you anything back, But it is so funny after every thing someone writes, they say yes that happened BUT!! Well it looks like this to me. They know they are snakes in the grass and some one is getting rich off of scareing people. I say put it on my credit with the rest of the stuff on there,I have a lot of room on it! Thanks and have a good day!! DON"T PAY THEM ANYTHING, I would like to know if all of their bills are payed on time??????????
Happy
:twisted: That is funny becasue they just called me today saying they are going to put me in jail!! 4-20-2006 12:47c time
So what kind of changes did they make did they do it 1 sec. ago?
Current working Number for Rescuity
Does anyone have a current number the one i was given from the original owner of my debt is not working. I have 8002990950
Riscuity can be reached at (800) 294-3803. Their fax number : (5
Riscuity can be reached at (800) 294-3803. Their fax number : (562) 475-0032
Let me know if you need any other assistance from me.
David / fax number
Unless it changed in the past month the fax you gave is not correct. they have a 770 fax and a 678 fax, I have no record of a 562 fax, unless it is a e-fax not used by the office employees. Oh and note, Bob C. is gone, he has been replaced by Mitch from NY. lets see what happens now. almost a soap opera thing, tune in next week to see the players.
Collection
I was called upon by Risquity several times, and was told that If I did not get a payment to them with in 48 hours a marshall would be at my door to serve me with a warrant. Of coarse I said well then serve me. I thought this was real tacky and unprofessional. Althought not paying my bill timely is unprofessional to resort to these tastics is morally outragious. Ive been collected upon before without complaint. These people need new collectors or to close down there operation.
riscuity cashing pay day loan checks.
Riscuity cashed a check we had written to advance america. The check was for the amount of 1,230. The amount we owed on the loan was only 246 dollars. I contacted Riscuity about this and they assured me that my 984 dollars would be refunded ,that all I needed to do was fax them the proper paper work. I faxed the paper work on April
6. I then called weekly to check the status of my refund. They then told me that my check had been mailed on the 21st of april.I waited about ten days or so and did not recieve my check. I called them back ,they told me they were having trouble with the post office.They then told me to call back the week after that. This time they told me the check had been mailed on the 28th. So Iwaited another week, and still no check. So once again I call back. This time they suggest I talk to the person in charge of accounting Mrs. Asbury she proceeded to tell me that my check had not even been written. This was on a Friday she told me she was sorry for the inconvenience and that sh would personaly walk it through and that I could call her back Tuesday and she would give me more information. When I called her back she was either always unavailable or had gone to lunchonce they even told me she had locked herself out of her car and would not be back in for about an hour .This lady will not return my phone calls now.The last time my husband called someone was very rude to him and told him they were not issuing any more refund checks at this time. Someone is very unorganized, and unproffesional or this lady would have at least had the courtesy to let me know what was going on with my money. I want my 984 $ back does any one have any suggestions!
File a complaint with the Attorney General in your state and als
File a complaint with the Attorney General in your state and also file a complaint with the BBB. DO NOT let them get away with this!
There is NO MONEY TO REFUND
I can only say that there is NO MONEY to refund, we are told to tell people the check in going our or in the mail, but in truth we did NOT KNOW until a week later the checks did not get mailed, there is no money to pay these people back. Per Wendy, I understand if they are in NC there is a legal issue ongoing that could cause us to get our doors closed. it is hard to explain but when you need a job you keep your mouth shut but this deal of telling lies is going to far, I know if I lie I can be held responsible it a suit is filed and trust me I will not take calls or return calls rather than lie. I know what paying bills means and you are lucky, some of these people calling don't got rent money and are getting put in the street. Chen don't care, Wendy is who said no refund there is no funds let then complain. these people is cold
License
In most states, Riscuity doesn't have a license to do collection. Once a Riscuity collector call you, demand a state license from them! For one, I think they are not licensed to do collection in Kentucky, Missouri, Mississippi, Florida and even New York!
Doing business legally
Dear Current Employee,
If you're saying that Riscuity is not breaking the law, would you be able to provide proof that your company has license to do business in all the states where it is doing collection??
breaking the law,
I never said they are breaking the law, I said I work here and I will not break it. I know what i am told and it seems money was taken from people not owing all of it and we got told it was mailed back to them and now find it was not. is that breaking the law i don't know but i will not lie to people and say it was mailed now that i know it not mailed. we are told we are lic in all states, did i check at the state level no, i only go by what i am told, anyone out there can pull up the state they live in and ck the lic in that state. its public. I am not the person in trouble should be not be lic, i can only do what told to do, call an collect the past due bills. if its not past due then you gota prove it is not, if you don't prove its not then you agree the bill is owed. we don't make up the checks, they come here and we collect them. if you don't owe it how do we have the checks????????
Riscuity
I have been receiving calls from this company for two months. I have sent them letters requesting debt verification, and they keep saying "it is in the mail" I have also been told I will NOT receive a verification letter until I send a payment. When i told them that was not an option (My attorney told me to get everything in writting) I was told to enjoy my jail time...
They have to by law validate the debt. Did you send the letters
They have to by law validate the debt. Did you send the letters certified mail with return receipt? They are violation of the fdcpa laws. They can't legally threaten jail time.
Riscuity tactics
I was wondering if anyone had an email address for them. I also have experienced some underhanded tactics from this company on more than several occasions, and they have also threatened me. I was wondering if anyone had any information on payment of a debt and if you have to pay what they say or can you make a payment that will not kill you monthly legally.
Call Riscuity at (800) 294-3803. Their fax number is (562) 475-0
Call Riscuity at (800) 294-3803. Their fax number is (562) 475-0032
Check with your AG's office or any other law enforcement agency
Check with your AG's office or any other law enforcement agency in your state. All companies with valid license are listed with them.
owe me money
I guess you all have not figured out that the people with the great report about Riscuity are Riscuity employees. Pay attetion to the responses that you get. Contact all of your local and federal agencies in dealig with these people. THOUSANDS of working people are being taken advantage of everyday. Everything thats we all complain about is constantly happening.(rude, threats, and stealing)If they were as busy as they claim ,the people that they owe refund money to would have their money. I find it very hard to believe that with all of the technology that this world has that Ms.Ashberry would still have to walk to anybodys finance area to turn in any paper work. OUR refunds did not disappear. As for the so call to nice agents that they have answering the phone (whenever they do)they are not really answering any of the questions that are dealing with the refund. (think-have you heard this before) I see where MS.ASHBERRY/MS.BLACK have been working on your account. HOLD ON,I transfer you to her voicemail because she is not at her desk right now. Everyday? Any time of the day?
Riscuity
Hi All... I just had a very unsettling afternoon dealing with this "company". They have left messages at my work number during "odd" hours, usually when the business office is closed. They always call from a "private" number and won't leave a name when they call, just say "I MUST hear from you by such and such time". I was just wondering who these people were so I called two of them back. (I've gotten seven calls since Monday, today is Wednesday) Neither would tell me the name of the company they worked for or why they were calling unless I gave them my middle initial and social security number, which, of course, I refused to do. I was called a "dumb B&^&%" by one man who hung up on me so I called back and asked for a supervisor. After several connections, all of whom were evasive as to the nature of their business, I was connected to a Mr. Chapman. He would not tell me who they were collecting for (I still have no idea why they are calling me)or why they just started calling my office, so I can't confirm I owe them ANYTHING. He called me a "deadbeat" and added a slanderous noun for a woman who sells herself for money and hung up on me. Whoever they are, they are extremely unprofessional. If I owe a debt I will of course pay it, but I need to know why they never even sent me a BILL! I am reporting the above incidents to my local BBB office this afternoon.
You also need to file a complaint with your Attorney General. T
You also need to file a complaint with your Attorney General. This is nothing new with Riscuity. No one deserves to be talked to, or treated in an unprofessional manner.
Riscuity
I too am dealing with riscuity. I was wondering if they can charge anyone more than the original amount with original creditor. I only owed about 80.00 and now it is upwards of 1500. Something doesn't seem right.
REPLY TO ALL................ I'm not yelling, just trying to
REPLY TO ALL................
I'm not yelling, just trying to highlight (all caps draws attention)
Is this a CA? (I can't get into the BBB right now to see) If so, here is my prescription:
1. Send validation letter, w/ C&D.
2. Keep all subsequent letters.
3. Record all subsequent calls.
4. When you reach 4 fdcpa violations, sue.
5. Then take two aspirin and call me in the morning.
That's all there is to it. You will either hear silence after that, or they will continue sending letters and/or phone calls which is illegal. They may try to validate (1 out of 10 CA's tries to), but 99 times out of 100 it won't be FULL validation.
So send your DV ltr w/ C&D (CMRRR of course), sit back, pop open a cold root beer, and watch the violations rack up!
Just got contacted
I was just contacted by the office of Riscuity. After reading these reports i would like to know if someone could tell me how to handle these people. My roommate told them i was unavailable. Can you please tell me how to handle this company
Ok, first be aware of your state laws and check the company lice
Ok, first be aware of your state laws and check the company license in your state. All companies must have a valid license first before attempting collections. Now, know the purpose for which Riscuity is contacting you. If the debt is valid, they need to send it to you in writing first. Without documentation, don't make any commitment from your side. They must follow the federal laws before collecting money from you. Talk to them and get everything straight. Don't fear from them otherwise you might get intimidated. Let us know how it shapes up after you hear from them.
You're on the net - educate yourself and sue.
First, if you legitimately owe the money and can pay, you obviously should do so on fair terms.
Second - if you're on this board, you've obviously got internet access. Research the fair debt collections practis act (fdcpa) and assert your rights - sue the bums if you need to. They CANNOT harass you at home and work by phone IF YOU ASSERT YOUR RIGHTS. If they're violating the Act, get your proofs together (most states permit you to tape calls without informing the other person - check your state law by googling "one party consent"). Once you have your proofs, many attorneys will take these cases for free because the other side will end up paying the legal fees. If you can't find a lawyer who'll do it without charge (or for a reasonable fee), then sue them pro se.
YOU HAVE RIGHTS - EDUCATE YOURSELF AND ASSERT THEM!
Adding further to the post of David put above, here is a link to
Adding further to the post of David put above, here is a link to the fdcpa laws. Everyone should be aware of the legal rights under the federal laws. These laws protect you from the illegal activities of the collection agencies. Use the FDCPA as a legal umbrella and cover yourself from the shady practices.
http://www.ftc.gov/enforcement/rules/rulemaking-regulatory-reform-proceedings/fair-debt-collection-practices-act-text
I am SO happy I found this forum! I recieved a call from Riscuit
I am SO happy I found this forum! I recieved a call from Riscuity TODAY. I've talked to them in the past but today they called & stated that if I did not make pmt arrangements, they would be charging me with a felony for writting a bad check, so I set up a pmt plan. The thing is, the check they say I didn't pay.....I don't believe I wrote it, I think my ex did when we were still together, without my knowledge. They (Riscuity) claim they dont have a copy of the check. I WILL be calling back tomorrow to cancel all the pmts & inform them I want all the things they are required to give me (detailed pmt history, copy of the check, notice in writting- to this day they've not sent ANYTHING via mail, etc). If need be I will close my bank acct to avoid these pmts because I have a feeling they're so rotton, they will try to put them through anyway!
So THANK YOU SO MUCH for all the info u all have provided!
Make Riscuity validate the debt. Send them a validation letter
Make Riscuity validate the debt. Send them a validation letter certified mail with return receipt. Chances of them validating is slim to none. They are one of the worst collection agencies around. You need to cancel the payments immediately. Please put a search into the forums and see how Riscuity operates and how they treat people.
grasping at straws
I've been receiving phone calls from Riscuity for several months. They are trying to collect from a 'Brian Smith', but don't have all their facts. So, they are just grasping at straws, trying to find the right person. They even rattled off a social security number of the person they are trying to collect from. Their calls have been accusatory and demanding. Very unprofessional!