• Report: #458088
Complaint Review:

ARA Inc. - Asset Recovery Associates

  • Submitted: Wed, June 03, 2009
  • Updated: Wed, December 30, 2009

  • Reported By:Beaumont Texas
ARA Inc. - Asset Recovery Associates
PO Box 4009 Schaumburg, Illinois U.S.A.

ARA Inc. - Asset Recovery Associates You'll Accept What? Schaumburg Illinois

*Consumer Comment: The credit report is how they try to scare you.

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My elderly father too received a "collections letter" from these people stating that he owed Keybank (which he has never dealt with or heard of!) $18,277.83 for a vehicle he supposedly bought in 1987 (1st date they gave), then 1992, then it was 1997.

He had allegedly bought a vehicle - they couldn't tell us from where - had not paid for it, and it had been reposessed.

When he disputed it, they suggested that maybe he had co-signed for a son, daughter, or grandchild and had forgotten.

They maintained that Keybank had sent several letters requesting payment with no response from him and had now turned it over to them, and that they were willing to settle the debt for a mere $11880.59 if he could send payment within 3 days! This in turn would avoid having liens placed on his property (which was being researched while we spoke!) and other legal action.

The man on the phone was unable to give us ANY details regarding the transaction, even put his supervisor on the phone who didn't know any more than he did.

The call ended with him assuring me that this was a VERY serious matter that needed to be taken care of IMMEDIATELY. He called back again the next day stating the same.

I was able to get a phone # on Keybank and discovered that they had no record of ever doing business with my father, and that they don't even have a branch in Texas where we live.

I faxed ARA a statement telling them what Keybank said as well as their Better Business Bureau rating of F!!! for doing this same thing to several other people.

BEWARE of these people-they sound convincing and are armed with SSN's, previous addresses, and other personal information to make them sound legitimate.

Beaumont, Texas

This report was posted on Ripoff Report on 06/03/2009 10:04 AM and is a permanent record located here: http://www.ripoffreport.com/reports/ara-inc-asset-recovery-associates/schaumburg-illinois-60168-4009/ara-inc-asset-recovery-associates-youll-accept-what-schaumburg-illinois-458088. 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 Comment

The credit report is how they try to scare you.

AUTHOR: Sola.N - (United States of America)

When I was on the phone with them, the weird guy I talked to would drop into the conversation little tidbits of info from what was obviously a recent credit report of mine. I think the motive was twofold: a) make me think he was legit because he had all this info on me and b) scare me into thinking he could wreck my credit.

I'm glad you didn't fall for this crap. I had their bogus hard inquiry yanked from my credit report, and if they did the same to your father, you may be able to get the inquiry removed from his file.

I'd love to see them out of business and their employees prosecuted individually for this. It scares me to think of how many elderly people are being preyed on.
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