• Report: #703290

Complaint Review: Morgan and Pottinger LLC

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  • Submitted: Sun, March 06, 2011
  • Updated: Mon, March 07, 2011

  • Reported By: Mr.Halstead — Hardinsburg Kentucky United States of America
Morgan and Pottinger LLC
204 E.Market Street Louisville Ky Louisville, Kentucky United States of America

Morgan and Pottinger LLC This firm bought an old debt that is over 10 years old,now trying to take property Louisville, Kentucky

*Author of original report: Thanx You!!

*Consumer Suggestion: DO NOT pay them until they "validate" the debt!

*Consumer Comment: RE:

*Consumer Comment: scam collection agecies

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This firm bought out an old debt that i had almost paid off until i got laid off.In 2000 I Bought a brand new Chrysler,made the payments for 2 years straight until my company went bankrupt.Over 300 people including myself lost our jobs.I made the payment for as long as i could with the little bit of unemployment i was getting.Of course my children cannot live in a car,so i let the car go to make sure my mortgage was paid.Chrysler auctions off the vehicle after i turned it in.They get everything they wanted out of the vehicle except,$4500,which of course,they are coming after me for.Luckily,i got a new job 4 monthes after all of this went down,and i started making payments with chrysler to get this matter taken care of.I get the bill down to $2400.Meanwhile,my company moves out of my homestate which is back east to Kentucky.2 Monthes after i move to kentucky,The company shuts down.Contacted the collection agency in my homestate to let them know payments will resume as soon as i get back to work. a few monthes go by,and a company named Morgan and Pottinger Louisville,Ky send me a letter stating if i have no way to pay them,they will take whatever property i have.The file a petition with the county clerks office,and it says if i don't pay them $5800,they are going to take my property,vehicles,assets,etc etc.Forget coming to get my property etc etc,how did the bill go from $2400 to $5800?.They tell me because of lawyers fees,filing,etc etc.I Thought there was a statue of limitations on things like this?As it is now,i'm sending them a certified money order every month on my payment of $5800,which i will probably never get paid off.If anyone else out there is dealing with morgan and pottinger.Do not give them your bank account info,they will take whatever is in there.Send a U.S Postal money order,via certified mail,make sure you cover yourself with these bloodsuckers.Also they will contact you all hours of they day and on weekends,even after you have made a payment.

This report was posted on Ripoff Report on 03/06/2011 07:23 AM and is a permanent record located here: http://www.ripoffreport.com/r/Morgan-and-Pottinger-LLC/Louisville-Kentucky-/Morgan-and-Pottinger-LLC-This-firm-bought-an-old-debt-that-is-over-10-years-oldnow-tryin-703290. 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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REBUTTALS & REPLIES:
1Author 3Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

Thanx You!!

AUTHOR: Mr.Halstead - (United States of America)

Just want to say thanks to all of you for your comments and information.There was a few things i did not know until now.Tried to call them this morning to get proof of my the payments i've been making,of course,i'm being told the person i need to speak to is not in,lol.Luckilly i have kept every money order reciept i have ever sent them!!
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#2 Consumer Suggestion

DO NOT pay them until they "validate" the debt!

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

I don't think you understand your rights under the law. making any payment or agreement to pay will restart the "statute of limitations" clock, which may have already been on your side.

NEVER pay any third party debt collector without FIRST making them "validate" the debt.

You really should go to budhibbs.com and a few other consumer collections websites to get some education in these matters.

Then go tho the ftc.gov website and read the FDCPA.

Refer to other collections related posts here on ROR and my responses that spell out the communications requirements and dispute process.

STAY OFF THE PHONE, and DO NOT make a payment!!
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#3 Consumer Comment

RE:

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

- First, the above info is not correct. This is not a "scam" collection agency, this is a real law firm
- Even if they take you to court, they cannot confiscate your person property. If they take you to court and win a judgment, then this would allow wage garnishment and the freezing of bank/checking accounts though.
- The statute of limitations on debts can be reset by making recent payments on the account.
Making monthly payments to debt collectors should be avoided if at
all possible because:

- They could take your monthly payments for 7 or so months then turn
around and resell the account to another collection agency, which would
restart the collection process all over again and you’d be powerless to
challenge it, or they could sue you.

- Any monthly payments you make could go down a black hole of high
interest and fees…so you might pay for 2 years and the balance will not
go down.
If you must pay on a monthly payment plan, then make sure that you
get account statement every other month from the collection agency to
confirm that your balance owed is really going down and not just
staying the same.

The best way to pay debt collectors over defaulted accounts is to
settle for less in a one-time, lump sum payment…where you negotiate the
terms in writing first, then pay. This way the debt is resolved and you
don’t have to worry about them (or another collection agency) coming
back after you for the same debt.  Assuming you have cash saved up,
then offer to settle this account in full for 25% of the defaulted
amount and go from there. Never agree to any settlements over the phone
unless they are backed up in writing…in you don’t the debt collector
will deny that any settlement was ever made once they get your money
and come right back demanding more money. Pay only via a USPS money
order. Photocopy everything and keep in your records forever as
documentation that the debt was resolved.  Never give debt
collectors your bank account numbers.
==============
If the really do take you to court, then it is 100% critical that you show up. If they take you to court and you stay at home, expect a default judgement in the $7,000 range.
Show up with copies of your pay stub and bills to negotiate a payment plan you can afford.
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#4 Consumer Comment

scam collection agecies

AUTHOR: Joseph Brown - (USA)

These bottom feeders cannot, I repeat, cannot take your property!. The only thing they can legally do is put a lien on you. That means that if you sell anything, home, car, etc, they can get a little bit of money that way.
Do not under any cicumstances let the oxygen thieves scare you. Unless you already have it, get caller ID and don't answer your phone unless you recognize the name and or phone number.
I can just about after so long a time, you'll start getting calls from a heavy accented "Bill Jones, Harry Johnson or some other fake.
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