Complaint Review: First Step Group, LLC - Brooklyn Center Michigan
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- Author Not Confirmed
- First Step Group, LLC 6300 Shingle Creek Parkway Brooklyn Center, Michigan USA
- Phone: 855-666-9147
- Web: www.FirstStep-Group.com
- Category: Collection Agency's
First Step Group, LLC CACH LLC bought a charge off from MNBA Nearly 20 yrs later, they called and want to collect. Brooklyn Center Minnesota
*General Comment: Charge-offs don't mean you don't owe the debt
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3 March 2015
First Step Group LLC called me to making a proposal to settle a debt. The indicated that the initial holder was MBNA Bank. I had an account with them, which was charged off over 15 years ago. First Step made queries over the phone to verify that I was Steve. I don't even remember the who,what & where concerning this .
They went on to advise me that "we can settle this debt today for $8000.00" I replied that whatever debt I owed,
had been charged off. They were looking at collecting. I refused. Within 2 days I began receiving letters in the mail from First Step. They indicated "the law limits how long you can be sued on a debt. Because the age od your debt, CACH,LLC will not SUE you for it an CACH,LLC wil not report this to any credit reporting agency"
Next paragraph,.they say this is a demand for payment of your outstanding obligation, and we are relying entirely relying on information provided by their client. Mind you this was a charge off. So I have 30 days to dispute this bogus claim. Then they will clarify with their "client".
I have had one call and 3 letters of correspodence so far.
Regards,
This report was posted on Ripoff Report on 03/11/2015 11:29 PM and is a permanent record located here: https://www.ripoffreport.com/reports/first-step-group-llc/brooklyn-center-michigan-55430/first-step-group-llc-cach-llc-bought-a-charge-off-from-mnba-nearly-20-yrs-later-they-ca-1215141. 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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#1 General Comment
Charge-offs don't mean you don't owe the debt
AUTHOR: Anon - (USA)
SUBMITTED: Friday, June 03, 2016
Creditors use charge-offs to indicate to their accountants and to the IRS that the debt is over 180 dats due and that they don't think they can collect on the debt. They can then use this information for their financial reports. It does not mean that the money isn't still owed by the debtor. More than likely, the original creditor will sell the debt to a collection company, or they can ask for payment at any time in the future.
You may be thinking of a write-off which is when all or a portion of a debt is forgiven. If the creditor or a collection agency makes an offer to reduce the amount owed, then what remains after the agreed-upon payment is made should be written-off by the company and a form filed with the IRS and sent to you as forgiven debt is considered income. If that doesn't happen, then you do have something to report as a rip-off.
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