Complaint Review: Merchants' Credit Guide - Chicago Illinois
Ripoff Report on CBS 19
Ripoff Report on CBS 19 - Global Marketing Alliance
Ripoff Report on ABC 15 - Smart Shopper
Ripoff Report - Girls Gone Wild
Ripoff Report on Fox 11 - Car Repair
- Author Confirmed
- Merchants' Credit Guide 223 W. JAckson Blvd Chicago, Illinois U.S.A.
- Phone: 888-249 4134
- Web:
- Category: Collection Agency's
Merchants' Credit Guide ,CLAIMED old debt owed, offered buyout...unfortunately we accepted and PAID FRAUD Chicago Illinois
*Consumer Comment: Sleazy Yes, Illegal No....
Show customers why they should trust your business over your competitors...
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..
Every six months my boyfriend receives an updated letter from Merchants' Credit Guide "reminding" him of his unresolved debt and offering him different payment options to resolve this debt. Finally, he was in a financial position to begin to tackle some of these old pesky debts from irresponsible college days...
We accepted a "buyout" in which Merchants' offered a one time payment whidch they claimed was 40% of the original debt. Financially, it made the most sense to us, it was the option that cost the least.
We mailed a check, and have never heard from the company again. I have written to the company requesting the payment refunded. I am furious, both with ourselves for falling for this fraud, and at Merchants for capitalizing.
They are crafty, the debt is listed as "bankfirst" which seems an innocuous credit card company. It is hard to remember the names of credit cards from 10 years ago...The name rang a bell, I assumed since they were contacting me, they were the ones I owed.
laura
willimantic, Connecticut
U.S.A.
This report was posted on Ripoff Report on 08/20/2007 01:17 PM and is a permanent record located here: https://www.ripoffreport.com/reports/merchants-credit-guide/chicago-illinois-60606/merchants-credit-guide-claimed-old-debt-owed-offered-buyoutunfortunately-we-accepted-268852. 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:
#1 Consumer Comment
Sleazy Yes, Illegal No....
AUTHOR: John - (U.S.A.)
SUBMITTED: Monday, August 20, 2007
It is hard to remember the names of credit cards from 10 years ago
=================
If this old debt was over ten years ago...that would have put it way past the statute of limitations...making it impossible for this firm to take action against you. You should have sent them a Cease Communications letter and that would have been the end of that...they are entitled by federal law to stop collection activity upon receipt of this letter. Just a little research would have saved you from having made the mistake of making a payment that wasn't necessary.
If this firm did purchase your debt from ten years ago...they were still entitled to attempt collection and they did nothing illegal in taking your money...even if it was past the statue of limitations.
FYI...they probably purchased your old debt for pennies on the dollar...i.e. a $1,000 original debt was probably purchased for maybe $10.....If this firm got a 40% settlement out of you off the original amount....they most likely make a HUGE profit off of you.
Be an educated consumer. Learn about your rights so you won't make a similar mistake again. Read the postings here on this site...also budhibbs.com is good.
Related Reports
06:25 AM
04:00 PM
06:56 AM
08:32 PM
07:36 PM
05:08 PM
01:28 PM
06:37 PM
06:59 AM
12:03 PM
07:10 PM
New 
Updated Rebuttal Photo 
Advertisers above have met our
strict standards for business conduct.
