Asset Recovery Associates (ARA) I have got a letter from ARA stating that I have debt for $2250-/- and needs settlement within 30 days and they have asked immediate response.So I called them in the next day and enquired about the debt and they have mentioned some financial company called National Bank'. I am not sure what kind of debt is this and I am in hurry to clear this debt and try to settle with possible amount. Schaumburg Illinois

I have got a letter from ARA stating that I have debt for $2250-/- and needs settlement within 30 days and they have asked immediate response.So I called them in the next day and enquired about the debt and they have mentioned some financial company called National Bank'. I am not sure what kind of debt is this and I am in hurry to clear this debt and try to settle with possible amount and I have paid $XXXX. And then I have enquired with my friends and they are biggest FRAUD' Group.

After discussing with my friends and I came to know 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.

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 bad debts 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 First National Bank 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 SCAMMERS' to bring under control Land of Law'.

FLASh!FLASH! don't trust thsese scammers and escalate with Local Police and FBI for immediate action.

Asset recovery associates(ara)
Schaumburg, Illinois
U.S.A.