Report: #90589

Complaint Review: Capital Acquisitions and Management - (CAMCO) - Rockford Illinois

  • Submitted:
  • Updated:
  • Reported By: SACRAMENTO California
  • Author Confirmed What's this?
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  • Capital Acquisitions and Management - (CAMCO) P.O. Box 5087 Rockford, Illinois U.S.A.

Capital Acquisitions and Management Company (CAMCO) Bad Debt Buyer ripoff! Rockford Illinois

*Consumer Comment: they are using my maiden name from over 20 years ago!

*Consumer Suggestion: Please Inform The FTC of Your Experence

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We received a letter for debt of $648.88 from Capital Acquisitions and Management Company (CAMCO) P.O. Box 5087, Rockford, Ill. 61125-0247 Dated: April 30, 2004 stating,

"We at CAMCO have decided to extend a most generous settlement offer of $129.22. Unless one of the options below is accepted, we will evaluate your credit history and present financial circumstances, then proceed with an appropriate collection program. We believe you have an important decision at this time. Kindly check one of the options suggested below and return:

__I wish to take advantage of this settlement offer and have enclosed $____________

__I cannot take advantage of your offer but enclose a first settlement installment of $__________
If accepted I will pay $__________each month on the __________day of each month.

Please feel free to contact me at (877) 298-0845 Ex:2076, if you should have any questions.


Ms. Freeman
Collection Manager"

I called the number and got an answering machine.

Thank goodness!!! Because now that I have read the other comments here, I plan no more attempts to make contact with them. And I figure only "time will tell all" if and when they decide to contact me further.

Thank you all for taking the time out to make your posts. They have proven to be an asset for myself and hopefully along with mine now we can continue to pass the asset to others about this bad debt buyer company.

Thankfully Yours,

SACRAMENTO, California

This report was posted on Ripoff Report on 05/07/2004 12:11 PM and is a permanent record located here: https://www.ripoffreport.com/reports/capital-acquisitions-and-management-camco/rockford-illinois-61125-0247/capital-acquisitions-and-management-company-camco-bad-debt-buyer-ripoff-rockford-illino-90589. 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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#2 Consumer Comment

they are using my maiden name from over 20 years ago!

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

POSTED: Saturday, May 15, 2004

I received a letter from this company. The funny part of this is that they are using my maiden name (not even spelled correctly) and I have been married for 20 years.

Saying I owe them 1749.45.

I just received this letter today 5/15/04 and was looking online to see what this company was.
My letter says: This letter is to notify you that your Marine Midland Bank account (don't have one) which was formerly held by S&P Capital Investments Inc has been purchased by Capital Acquisitions and Management Company.
Glad I checked online to see this is not for real.

Am going to contact the Federal Trade Commission and make a report.

Thanks for the heads up....I feel better already.

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#1 Consumer Suggestion

Please Inform The FTC of Your Experence

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

POSTED: Friday, May 07, 2004

I guarantee they have added their name to your credit reports, like they did mine.

Also, if you look down a few posts, you will see one person that contacted the Attny General of Ill. and CAMCO stated that they don't do this; besides, it is illegal for them to enter their name onto your credit report for the purpose that they are doing it.

It isn't a simple inquiry to see your report, they place their name as if you applied for some sort of offer. They placed it on my accounts twice so that it will stand out.

CAMCO has just begun with you, and will continue to call you.

Log on to the FTC site at http://www.ftc.gov/opa/2004/03/camco.htm and
http://www.ftc.gov/os/caselist/0223222/040324cag0223222.pdf , which is the case decree which is FTC vs Capital Acquisitions.

Read up so that when they call you again, you have the ammo to put them in their place.

If they call, ask to talk with Mr. Reese Waugh. When they act like they don't know what you are talking about, tell them, "He's you CEO." Then tell them you know about the FTC's actions and you are demanding that they not contact you in the future, or you will also seek $300,000 as well.

Hope this helps.

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