I also received a letter from CAMCO (Capital Acquisitions and Management Company) on Feb. 19, 2004 notifying me of an account from Bank Of America that had been purchased by CAMCO from Midland Acquisition Corp. stating that I owed $764.51 (plus interest that may vary day to day).
I called and spoke with a woman name of 'Ms. Farrow' and mentioned to her that I have never had an account with Bank Of America and she replied that the account was originally from Security Pacific National Bank in 1986. I mentioned to her that prior to closing my account with S.P. Bank in 1985 all transaction was settled and paid. She then transferred my call to John Kilroy to dispute this claim. The result was useless. Both John and Ms. Farrow was unprofessional (unable to remember facts and how to transfer phone calls) and sarcastic.
As a member of the Consolidated Legal, I notified my representative attorney and presented my case with facts (one of which is copies of my credit report going back as 18 years). My credit report did not show any bad/ negative accounts. CAMCO has no legal grounds for collection due to that my account is over 19 years old protected by Statute of Limitations for Debts. Being that the origin of the contract was in Riverside, California, the Statute of Limitations for Debts is 4 years for written contracts, promissory notes and open accounts, and 2 years for oral agreements. If you are not sure what is the Statute of Limitations for Debts in your State go to the website www.cardreport.com/laws/statute-of-limitations.html.
Should CAMCO notify the credit bureaus and does not follow the bylaws of the Statute of Limitations for Debts, you have the right to fill a class action suit. But it won't come to that because they are not that STUPID (noted by my attorney). The letter that I sent to CAMCO was certified mail (proof of delivery and signature) to note I hereby disputes all claims and will not pay to your demands under the ruling of my attorney. DO NOT PAY and DON'T SIGN your name (because they might use it to produce a fraudulent copy).
In life you try to do the right thing, work hard, and hopefully be honest in your action. Only to find out that SCUMS such as CAMCO try to lie, trick, mislead, and finely threaten. As Mary from Tujunga, California stated Let's get this company!!! I am willing to start the SCAMCO crusade by offering my services with the aid of my attorney. CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
Please read the other Rip Off report complaints from CAMCO. There are useful tips in protecting yourself and fighting back.