• Report: #744980

Complaint Review: Portfolio Management & Recovery

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  • Submitted: Fri, June 24, 2011
  • Updated: Fri, June 24, 2011

  • Reported By: Devin — Corona California United States of America
Portfolio Management & Recovery
Rincon, Corona, CA Corona, California United States of America

Portfolio Management & Recovery Capitol Filing Services Fired without pay of commission Corona, California

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I thought this was a legit company....

Today I got fired and the corporate office tells me they will not pay me for my commission.  Its 33% of what is collected, split if someone else closes it.

The company collects $2,000,000 a month with 9 different offices, all located in southern California.
The way there "scheme" works is with a dialer and a closer, using scripts that the managers (office owners) tell us to use.

Dialer:
     I'm calling to see if someone is going to be available to accept legal documents on the behalf of (debtors name)...
    The process server is going to make 2 attempts to serve this complaint.  After the 2 failed attempts, a court will be notified of a failed action to serve, and a court hearing will take place without their participation, which will result in a failure to appear....
    What I can do is give you the # to the legal office (same office we call from) so they can get in contact with them and have their summons redirected...(give phone # and case #)... Now sense I spoke with you, I will put the order on a temporary hold so you can have some time to contact (debtors name) to let them know they need to have their court ordered summons redirected.  Failure to contact the office within that time, will result in attempts being made at residence or place of employment.

Closer:
    Am I speaking with (debtors name),  we do have a case in our office, my client has filed a lawsuit against you in regards to a (original debtor) that was opened on (origination date) and you did maybe faithful payments on the account.  My client is suing you for XXX.XX (principal charged off + about $2,000).  There was a demand letter that was sent to you about 45 days ago, giving you or your attorney 30 days to respond... Is there a reason why you never responded? (never send out anything so they always so never received it)
    Well have you ever been sued before?  There was an asset and liability investigation done against you and it was discovered that you do meet the criteria for litiation.   If this is persued in court, you will be held responsible for XXXXX + $2,500 for attorney costs and court fees. Since you never received the demand letter, you never had the chance to settle this out of court.  I will call my client and let him know you never got the chance to settle this.  He is going to ask if you have the XXXXX (principal + about 2k in interest and penalties) to settle this today....  What do you have?
(put them on hold for a couple minutes and come back and say great news, client has accepted the counter offer... glad to keep you out of court today...  and get payment info)

Each office uses a different name and has their own 800 number...  The Owners, Jason and Wayne, have made so much money that they needed to open bank accounts for the offices in the names their office managers, so now each office is Independently owned by the manager...  With all the money this company has made, shady stuff recently started happening.  As i began to notice this, I made a business plan on how to do this the legal way.  Word got out, and then I was fired, and have text messages from managers telling me "I will not get paid, and good luck because previous people have tried to get paid with no luck."

On the credit report, the debt is reported from "portfolio management & recovery"
Some of the office names are National Filing, Capitol Filing, Rincon Filing, Global Filing, County Filing, Union Filing.  A couple numbers they use are 866-767-8814 (union) and 888-430-1651 (global).

They do not need to follow collection agency laws because they own the debt, which makes them a debt buyer.  This is how they get away with their scripts.

If someone can help me get paid, please contact me (((REDACTED))) / subject: HELP

As I used to say... Guess I will see you in court....

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.

This report was posted on Ripoff Report on 06/24/2011 12:54 PM and is a permanent record located here: http://www.ripoffreport.com/r/Portfolio-Management-Recovery/Corona-California-/Portfolio-Management-Recovery-Capitol-Filing-Services-Fired-without-pay-of-commission-Co-744980. 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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