Report: #372103

Complaint Review: Financial Credit Services

  • Submitted: Thu, September 11, 2008
  • Updated: Thu, September 11, 2008
  • Reported By: colorado springs Colorado
  • Financial Credit Services
    1627 W Colonial Pkwy
    Palatine, Illinois

Financial Credit Services - Aka - ARA (ASSET RECOVERY ASSOCIATES) Financial Credit Services Company who takes advantage of your past Bankruptcy Palatine Illinois

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After doing my own research I have come to find out that Financial Credit Services aka ARA (Asset Recovery Associates) is a hoodwink company who takes advantage of people with bad credit history and bankruptcy status. My extended family who live in another state started receiving letters in the mail and harrassing telephone calls about myself and I got so tired of them complaining about the situation I asked them to fax me this so called letter.

The letter stated that I had an outstanding debt in the amount of a $1,643.28 which was a debt owed to Citi Financial. I was kind of baffled because I knew that I had claimed all outstanding loans on my bankruptcy years ago and had never filed for any sort of loan since then other then auto or mortgage. Thinking that perhaps maybe it was an old account through a loan through the university that I used to attend which have been discharged through my bankruptcy proceeding. So naturally, I wanted to clear this up because I retained all my old files (WHICH we all shoud do!) and called this so called debit collections agency. They claimed I had an account that was outstanding LO and behold since the time I filed for bankruptcy. I asked them what it was for and they just stated CITI Financial and demanded payment right then and there. They read me the riot act about the legal options that they could do to me and also stated that they would file a report to the Credit Reporting Agency. I told them I would speak to my lawyer first before working with them any further. '

I checked Equifax today and found that indeed they looked into my account - and might I add they LOOKED into my account because I was stupid enough to give them my social security number when I first called. Big mistake - don't give them that gang!!! Equifax gave an alert of possible fraud of a company checking into my credit information. BUT remember they only looked - they didn't file a report and the fraud investigations agent at Equifax stated that this was a sign of fraud because if they were TRULY a collections agency they would have filed an immediate report and claimed that a debt was owed to them. So I decided to check the Better Biz Bureau and found out that this company is currently being investigated for guess what - fraud - and upon further research on the internet I have come across RipOff Report and I am so very happy to see that we all have been having the same exact problem with this evil institution who preys on those with bad credit history.

This is how I think it works:

1) Somehow they get a hold of your Bankruptcy report.

2) Then they research for different ways to claim a false debt.

3) Then they harrass the victim who doesn't have a clue because the bankruptcy was filed so long ago that they don't even have old information any longer to prove the debt is actually real.

4) The unsuspecting suspecting victim actually believes there is a judgement against them and agrees to settle immediately.

Their scam didn't completely didn't work with me because I checked into Citi Financial and no one can come up with an account number for my name nor my social security number. I went around in circles with different departments and all said the same exact thing - there is no such thing as this stated account and we are not familiar with this collections agency.

This company is using many different names - first - being Financial Credit Services, but when I called their number the girl answered as - Asset Recovery Associates! I have read many other RipOff reports and see that this bogus company has many other alias names and has been investigated in a few other states so I think whoever is running this scam should be serving some time for taking advantage of people who are trying to get back on their feet.

There has to be a way to bring these scum bags down ...

colorado springs, Colorado

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This report was posted on Ripoff Report on 09/11/2008 05:09 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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