Report: #227732

Complaint Review: Assetcare, Inovision-Medclr-Portfolio Group, NCO Portfolio Management - Norcross Georgia

  • Submitted:
  • Updated:
  • Reported By: Pompton Lakes New Jersey
  • Assetcare, Inovision-Medclr-Portfolio Group, NCO Portfolio Management 5100 Peachtree Industrial Blvd. Norcross, Georgia U.S.A.

Assetcare, Inovision-Medclr-Portfolio Group, NCO Portfolio Management, Very confusing collection letter??? with INSANE extra charges Norcross Georgia

*Consumer Suggestion: Send a written objection

*Consumer Suggestion: answers

*Consumer Suggestion: Valari, just get a good laugh at them. Do this.

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I received a letter from Assetcare demanding I pay them $5,448.79. The letter states:

"You can settle this account(s) for a lump sum of 40% of the total balance listed above in the amount of $2179.52. This offer may expire without notice. Before making payment, please confirm with one of our representatives that this offer has not expired.

If you need to talk with a representative, please call 866-429-3598.

You may also make payment by visiting us online at www.assetcareinc.com. Your unique registration code is XXXXXXXX-XXXXX. "

The back of the letter has info on former/original creditor and another section stating above accounts were purchased by one of the following companies prior to sale to Inovision-Medclr Portfolio Group, LLC which now owns the account(s) Global Rated Eligible Asset Trust, Securitized Multiple Asset Rated Trust 1997-5 and Securitized Multiple Asset Rated Trust 1997-6.

It appears they are trying to collect on old credit card debt from 1995-1997. The SOL in NJ is six years, so they would be barred from collection anyway since the time has run out.

I checked my credit report and didn't find anything - it's clean. No negatives at all. They are not threatening legal action as of this point.

Here's the insane part. They state the "purchased debt" as $2305.46 and they want to charge me $3143.33 on top of that. This is crazy. Even after reading all the rip off reports on this site I am shocked that anyone would think it's OK to tack on 150%. It's just plain WRONG.

Along with the collection notice they have sent a Privacy Notice. This notice lists about 20 different companies but most of them seem to be variations of NCO. Also listed are Creditrust, Inovision-Medclr, and Integrated Capital. What are these idiots doing? Selling old accounts back and forth to each other?

I'ld love to find out if Global Rated Eligible Asset Trust and Securitized Multiple Asset Trust are also NCO subsidiaries.

I'm not sure what the proper course of action is regarding this. Do I demand they validate this? Do I demand they stop trying to collect on a time-barred account? Are they in violation for sending me this collection notice? Also, I'm concerned that by contacting them it will get them going on putting some kind of charge on my credit report which would really suck since I have great credit now. I don't want the hassle of dealing with getting something removed from my credit report.

Since they are using info they got from 10 year and older expired accounts how can they charge interest? I didn't do business with them, I didn't borrow any $ from them, so how can they be entitled to interest? How did they get this information in the first place? I have no intention of sending these idiots any $ at all and I want them GONE. I don't even want to get these bogus bills from them.

One other thing concerns me. There is an inquiry on my credit report from OSI Collection Services dated 8/2005 and another one from Merchants CR Guide dated 12/2005. Are these clowns also part of NCO? I haven't received any letters from them that I know of. Why are these scummy companies checking my credit report? Can I expect more letters from these jerks?

What's my next move here? Anybody deal with a similar situation with these criminals?

Pompton Lakes, New Jersey

This report was posted on Ripoff Report on 12/29/2006 05:11 AM and is a permanent record located here: https://www.ripoffreport.com/reports/assetcare-inovision-medclr-portfolio-group-nco-portfolio-management/norcross-georgia-30071/assetcare-inovision-medclr-portfolio-group-nco-portfolio-management-very-confusing-coll-227732. 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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#3 Consumer Suggestion

Send a written objection

AUTHOR: Twister411 - (U.S.A.)

POSTED: Monday, November 26, 2007

You're suppose to file a written objection to the collection notice within 30 days of the notice, don't forget to send it via USPS certified return receipt.

By law, they are suppose to tell you the original debtor not the company they bought the debt with. They most tell you the original amount and time period it was incurred.

File a complaint with FTB.gov about this false collection, about the failure to provide information, the fact that this debt is not even yours. They will investigate.

I just got a letter in the mail, and they said they same thing, this debt was purchases, blah, blah, blah. This debt has never showed up in my debt history within the last 10 years, so I have no clue where this info is coming from.

You need to fight it and show proof you fought in just in case they do take you to court for not responding. If they contact you by phone, advise you've filed a complaint and if they contact you again, you will sue them for unfair business practicse per the Fair Trade Commisions.

Usually they disappear after you file a complaint, but they may reappear after a year or so and you just have to remind they failed to timely handle your object.

These people are nothing more than SLIME.

Good Luck

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#2 Consumer Suggestion


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

POSTED: Friday, December 29, 2006

"Do I demand they validate this?" As you say that this account ins 10 years old, demanding a validation notice is a great start. There are many sample letters you can find on the net that do a great job. "Do I demand they stop trying to collect on a time-barred account?" There is no such thing as a time-barred debt. The statute of limitations may have passed, so they can not sure you. They can still attempt to collect on the debt forever. "Are they in violation for sending me this collection notice?" From what you have described, they have followed the law with the collection notice.

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#1 Consumer Suggestion

Valari, just get a good laugh at them. Do this.

AUTHOR: Steve [Not A Lawyer] - (U.S.A.)

POSTED: Friday, December 29, 2006


DO NOT in any way contact them on the phone. Never speak to any debt collector on the phone. It will never do anything positive for you and will always make things worse.

That debt is not legally collectable and they know it. The game they are playing is attempting to confuse you into paying even a small amount that would restart the SOL and make it legally collectable.

And, it is illegal to attempt collections on any other amount than the original charge off, and interest as allowed by law. That amount is like 6 or 8% max. I forget exactly.

However, that interest rate starts after charge off and stops when the SOL runs out.

If they are trying to collect a higher amount, they are actually engaging in fraud. File a complaint with the Postal Inspector for mail fraud. Also file a complaint online at ftc.gov.

Now, send a DEBT VALIDATION request where you dispute the debt, and demand to se the original contract as well as a full account history and itemization of charges. Also demand proof that they are legally allowed to collect on the debt and if they claim to own it demand to see the purchase contract, chain of title and proof of payment including amount paid.

Send this by certified mail, return reciept requested. Be sure to put the certified# on the letter itself and keep a copy for your records. This procedure is very important. This proves exactly what you sent.

Don't expect to actually get any validation from them, but until they give it to you, they must stop all collections activity.

I would persue criminal fraud charges on them for more than doubling the original amount. You can also sue them for any damages under the FDCPA. You can get up to $1000 in statutory damages as well as legal fees and actual losses.

NCO Group is now called "One Equity Partners". NCO's CEO Michael J Barrist, is the new owner.

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