Results 1 to 8 of 8
  1. #1
    talent103 is offline Junior Member
    Join Date
    Nov 2009
    Posts
    17

    EQUABLE ASCENT FINANCIAL, LLC Trying to get around FDCPA

    Ok So
    EQUABLE ASCENT FINANCIAL, LLC purchased an account and then had a Debt Collector called United Recovery Systems send me a letter. I sent in a validation request letter to the debt collector and a week after it was received it was reported on my credit reports as EQUABLE ASCENT FINANCIAL, LLC. From my reasearch on them in the internet they claim not to be debt collectors but the Original Creditors so they claim they dont have to validate or be subject to FDCPA. I have disputed with the Credit Reporting agencies and am waiting to hear back to see if I should take them to court for Violation of FDCPA. Do you know if their tactics will work? On the debt collection letter it says they purchased the washington mutual account.

  2.  
  3. #2
    billbauer is offline Senior Member
    Join Date
    Jan 2010
    Location
    Oklahoma City, Ok.
    Posts
    465

    Re: EQUABLE ASCENT FINANCIAL, LLC Trying to get around FDCPA

    Quote Originally Posted by talent103 View Post
    Ok So
    EQUABLE ASCENT FINANCIAL, LLC purchased an account and then had a Debt Collector called United Recovery Systems send me a letter. I sent in a validation request letter to the debt collector and a week after it was received it was reported on my credit reports as EQUABLE ASCENT FINANCIAL, LLC. From my reasearch on them in the internet they claim not to be debt collectors but the Original Creditors so they claim they dont have to validate or be subject to FDCPA. I have disputed with the Credit Reporting agencies and am waiting to hear back to see if I should take them to court for Violation of FDCPA. Do you know if their tactics will work? On the debt collection letter it says they purchased the washington mutual account.
    It makes no difference what they claim. There can be one and only one original creditor unless the original creditor was acquired by another lender while the account was still in good standing. Anybody else is a 3rd party debt collector.

  4. #3
    talent103 is offline Junior Member
    Join Date
    Nov 2009
    Posts
    17

    Re: EQUABLE ASCENT FINANCIAL, LLC Trying to get around FDCPA

    Those were my thoughts as well. Especially since Washington Mutual was Taken over by Chase.

  5. #4
    judithss is offline Newbie
    Join Date
    Apr 2010
    Posts
    1

    Re: EQUABLE ASCENT FINANCIAL, LLC Trying to get around FDCPA

    they have listed themselves as a bank on credit report... is that illegal?

  6. #5
    billbauer is offline Senior Member
    Join Date
    Jan 2010
    Location
    Oklahoma City, Ok.
    Posts
    465

    Re: EQUABLE ASCENT FINANCIAL, LLC Trying to get around FDCPA

    Quote Originally Posted by judithss View Post
    they have listed themselves as a bank on credit report... is that illegal?
    I would tend to think so. Most banks are either chartered or they are N.A. banks. Nationally Associated banks cannot be corporations under federal law and most state banks are chartered by the state they are domiciled in and can't be corporations under the laws of most states. That is true for most states and banks but then there are also credit card banks which is an entirely different animal. Most credit card banks are N.A. banks as well but again a few of them are local only and are state chartered.

    There was a patriot theory going around the net for a while saying that a bank can't sue because they are not chartered or incorporated in your state therefore have no minimum contact anywhere except under the state in which they are domiciled. Of course that was just another dumb idea that didn't work.

  7. #6
    talent103 is offline Junior Member
    Join Date
    Nov 2009
    Posts
    17

    Re: EQUABLE ASCENT FINANCIAL, LLC Trying to get around FDCPA

    They are doing everything they can to get away from being bound by FDCPA Law. I dont think they have been put to the test in court. If my credit report dispute comes back verified I am def taking them to court. I have also already filed a complaint with the NYC Department of Consumer affairs and the NY state attorney generals office.

  8. #7
    talent103 is offline Junior Member
    Join Date
    Nov 2009
    Posts
    17

    Re: EQUABLE ASCENT FINANCIAL, LLC Trying to get around FDCPA

    Also they have listed themselves as Hilco Receivables on Equifax but Equable on the other 2 reports.

  9. #8
    ccbob is offline Senior Member
    Join Date
    Feb 2007
    Posts
    1,157

    Re: EQUABLE ASCENT FINANCIAL, LLC Trying to get around FDCPA

    How do they get away from the law?

    If they bought the account/debt, they're a 3rd party collector. Period.
    You should do all you need to do per the FDCPA.


    If they don't keep up their end of the deal (per the FDCPA), they can tell it to the judge when you sue them in federal court.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Sign up for the Creditnet email newsletter.

Creditnet - Find the right credit card for you Best Airline Cards Best Gas and Groceries Cards Balance Transfer CreditNet Best Credit Cards for Building Credit

Find a
Credit Card

Research, compare, & apply

Bad Credit

0% Interest

Cash Back

No Annual Fee

search

Perusahaan Outsourcing Bekasi

Outsourcing Tenaga Kerja