• Report: #89940

Complaint Review: Capital Acquisitions & Management

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  • Submitted: Mon, May 03, 2004
  • Updated: Wed, May 05, 2004

  • Reported By:Canandaigua New York
Capital Acquisitions & Management
PO Box 5087 Rockford, Illinois U.S.A.

CAMCO Capital Acquisitions & Management Co. said I owed a $1,266.01 debt from 14 years ago, then told me they could make it go away for 500.00. Rip-off! Rockford Illinois

*Consumer Suggestion: Please Inform The FTC of Your Experence

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A man named Rick Jacobs called and left several messages in the last month and said that he had purchased a debt I owed from 1990,(from Marine Midland Bank,). That was a very difficult time in my life and I almost fell for the bullying tactics that he used. (Calling me on the last day of the month at 4pm.) Told me I had one chance to reduce this debt from $1,266.01 to $500.00. I asked for all this information in writing and was told that I would recieve it in the mail after I agreed to payment over the phone.

I had just re-established my credit in the last 5 years and am a single parent. Fortunatly I told my boyfriend and I was encouraged to stop payment on the checks and investigate this further. I also tried to reach this Mr. Jacobs and tell him he could expect a call from my attorney in the next few days. I doubt I'll be hearing from him very soon.

Thank you so much for your website. I fully intend to take this matter to the authorities and find out exactly who this company is and help to put them out of business.

Canandaigua, New York

This report was posted on Ripoff Report on 05/03/2004 09:22 AM and is a permanent record located here: http://www.ripoffreport.com/r/Capital-Acquisitions-Management/Rockford-Illinois-61125/CAMCO-Capital-Acquisitions-Management-Co-said-I-owed-a-126601-debt-from-14-years-ago-89940. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Suggestion

Please Inform The FTC of Your Experence

AUTHOR: Robert - (U.S.A.)

Please contact the FTC by filling out their complaint form. Also, check your credit report under the request to obtain your credit report. They posted to my credit report two times so that they stand out and can hopefully, on their part, relay the past debt that is unenforceable, according to FTC documents, on their website at http://www.ftc.gov .

The FTC sent me a letter stating that a FTC investigator may be contacting me for further investigation, regarding them illegally adding their name to my credit report.

Like I told the FTC, this gives them a 2-year window to harass on outdated unenforceable past debt. Another words, linking the credit report to bad debt past the 7-year federal limit.

Together, we can bring these people down and have them jailed. The FTC is refering this and other matters to the justice department, which means they are seeking jail time.

Read the court decree at the FTC's website by doing a search for "Capital Acquisitions."

Hope this helps.
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