Complaint Review: Capital Management Ventures - Harrisburg Pennsylvania
- Capital Management Ventures 2491 Paxton Street Harrisburg, Pennsylvania U.S.A.
- Phone: 717-540-7636
- Web:
- Category: Collection Agencies
Capital Management Ventures . this debt collector claims to treat customers with 'respect' ... ha! ... they violated the Fair Debt Collection Practices Act Harrisburg Pennsylvania
*Author of original report: Capital Ventures Management Uses National Recovery Agency
*Author of original report: Capital Management Ventures, Harrisburg, PA ... UPDATE on collection
listed on other sites?
Those sites steal
Ripoff Report's
content.
We can get those
removed for you!
Find out more here.
Ripoff Report
willing to make a
commitment to
customer satisfaction
Click here now..
My husband's credit report was in good shape in July 2008. I regularly check both of our reports (monthly). This month (August) I find a collection debt of $70 from Capital Ventures Management on his report which, of course, dinged his FICO score to the tune of 75 points downward! The collection indicates an 'open date' of July 2008, validated by Experian August 2008, doesn't indicate the 'original creditor' and indicates the collection is 1 month past due. Sounds fishy already, huh? This company is in the business of buying small debts and ruining people's credit WITHOUT following federal regulations.
CMV validated the debt without any communication with my husband ... nothing at all! And, Experian went ahead and placed the debt on my husband's credit report.
Plain and simple, Capital Ventures Management (CMV) violated the Fair Debt Collection Practices Act. CMV claims to treat customers with 'respect.' They list an "Integrity Top Ten" on their website under their Code of Conduct. Ha! I think not. No respect or integrity coming from this company.
CMV reported a debt to Experian WITHOUT following FDCPA regulations. They violated the 30-day notice rule under Validation of Debts, Section 809, 15 USC 1692g (b) which states: If the consumer notifies the debt collector in writing within the thirty-day period described in subsection (a) that the debt, or any portion thereof, is disputed, or that the consumer requests the name and address of the original creditor, the debt collector shall cease collection of the debt, or any disputed portion thereof, until the debt collector obtains verification of the debt or any copy of a judgment, or the name and address of the original creditor, and a copy of such verification or judgment, or name and address of the original creditor, is mailed to the consumer by the debt collector.
CMV faces a civil liability of up to $1,000 under FDCPA under Section 813, Civil liability, 15 USC 1692k for not following regulations regarding communication with the consumer (my husband).
How do these debt buying companies get away with such illegal behavior? I can only assume that they simply state they tried contacting the consumer via mail (no signature required) and then ruin our credit.
Shouldn't something be done to require these debt buying companies to prove their communication attempt?
We work so hard to keep our credit files clean only to have these sleazy and dishonest businesses mess up our hard work. Without written notice, how do they know the debt belongs to my husband? They don't know.
Today, we filed a complaint with the Federal Trade Commission. I urge anyone with a similar situation to do the same.
And, beware of Capital Management Ventures. They show an address in Harrisburg, PA, but their phone contact info indicates Boston.
Dee
Minneola, Florida
U.S.A.
This report was posted on Ripoff Report on 08/21/2008 11:23 PM and is a permanent record located here: https://www.ripoffreport.com/reports/capital-management-ventures/harrisburg-pennsylvania-17111/capital-management-ventures-this-debt-collector-claims-to-treat-customers-with-respect-365644. 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
If you would like to see more Rip-off Reports on this company/individual, search here:
#2 Author of original report
Capital Ventures Management Uses National Recovery Agency
AUTHOR: Dee - (U.S.A.)
SUBMITTED: Friday, September 05, 2008
As of today, emails received from both Capital Ventures Management (Chris Murphy - President) and a director from NRA have not been fulfilled as promised. Both people have sent emails stating this $70 account would be cancelled and reported to all credit reporting agencies (as cancelled) by the end of the month (August 2008). Instead, Experian has informed via email that the collection has been verified and will stay on the report. This is not right. Another email has been written to Chris Murphy as of last week, yet no reply as of today (9/5/2008).
#1 Author of original report
Capital Management Ventures, Harrisburg, PA ... UPDATE on collection
AUTHOR: Dee - (U.S.A.)
SUBMITTED: Friday, August 22, 2008
NRA (National Recovery Agency) are affiliated in that CMV purchases debt and then hires NRA to bully people. If anyone has problems with either company/agency, I have the contact name of Chris Murphy who is the President of CMV. He [reluctantly] cancelled my husband's $70 alleged debt. BTW - it was Columbia House ... they have sold all of their old receivables to CMV ... so watch out anyone with a Columbia House account ... you may be next! Chris Murphy's contact info:
Email: cmurphy@capitalmv.com
Fax: 781-585-5087
1-800-261-0275 x704
After at least 10 emails which proved the debt was not my husband's info, the debt will be cancelled.
This company definitely lacks respect for consumers and they certainly do not practice any kind of common integrity. It's all about the money ... and it's the small debts they are after. So, if you owe $100 or less, you may one day find a ding on your credit report from CMV / NRA.
Be vigilant people about your credit reports. We monitor our credit reports every month. These unscrupulous capital managers and their bull dog collectors will ding your report without following the Fair Debt Collection Practices Act. If you want to read the Act, just google FDCPA. What you need to know if a collector MUST give you a 30-day notice PRIOR to dinging your credit. Read Sections 809 (Validation of Debts) and 813 (Civil liability). Most collectors don't follow this federal regulation.
I'm convinced the way around it for them is to say they have incorrect info. Be sure you request the name and address of the ORIGINAL creditor. Do NOT give any third-party collector your personal info. Tell them to verify the info with you. Obviously, if they followed FDCPA, the collector should be able to give you the address and/or phone number of where they contacted you re: the debt.
I'll update this report at the end of Aug 2008 as CMV has assured me in writing that NRA will be removing my husband's collection by the end of the month.
Advertisers above have met our
strict standards for business conduct.