Camco

Is there any more to the story, Mist? Did you pay in full, or settle for a portion of the balance??

I've seen posts here stating that settling for a portion of the balance without a written agreement may pose the risk for the CA to resell the remaining portion of the debt.

Did this happen to you? Any other details?

 

for personalized camco help email me at picanteL4343@hotmail.com . i need the age of the debt, type of debt, your state, and any lies they have told you including threats to your credit or legal action. I also know dozens of attorneys who have sued camco and another attorney who has filed a class action lawsuit against camco that primarily centers around the bogus affadavit. I also know the ftc investogator who just popped camco for a 300k fine.

 

"Debt Buyers Abused Consumers, Feds Charge

March 24, 2004
Companies that the Federal Trade Commission alleges have threatened and harassed thousands of consumers to get them to pay old, unenforceable debts or debts they did not owe have agreed to settle charges that their abusive and deceptive collection practices violated federal law.

The companies will pay a $300,000 civil penalty, but the FTC hinted it would take a harder line in any future settlements.

?The Commission is accepting this settlement,? said Chairman Timothy J. Muris, ?because there is ample evidence of the defendants? liability. We are reviewing our civil penalty program to determine whether the overall range is appropriate. As part of this review, we will give additional scrutiny to the level of civil penalties in the future.?

The FTC charged that Capital Acquisitions and Management Corp. (CAMCO), its subsidiary, RM Financial Services, Inc., and four principals engaged in systematic and widespread violations of the Fair Debt Collection Practices Act (FDCPA).

CAMCO is a ?debt buyer? ? a company that buys old debts well past the statute of limitations and attempts to collect them. Most of the debts are unenforceable in court and are also so old that they are beyond the reporting periods allowed under the Fair Credit Reporting Act.

Some of the debts CAMCO allegedly attempted to collect were already discharged in bankruptcy or had been paid. The FTC charged that in their attempt to collect these debts, the companies engaged in abusive and deceptive collection practices, including:

Harassing consumers at their workplaces;
Discussing consumers? debts with third parties;
Continuing to communicate with consumers after consumers had notified them that they did not owe the money and did not wish to be contacted again;
Using obscene or profane language;
Calling consumers continuously with the intention of annoying and abusing them;
Falsely representing the amount and legal status of the debts;
Misrepresenting themselves as attorneys;
Threatening imprisonment, seizure, garnishment, attachment or sale of property or wages with full knowledge that such action could not legally be taken;
Threatening to take action that could not be legally taken, including threatening to disclose the debts to consumers? employers and threatening to report the debt to consumer reporting agencies even though the debts are past the credit reporting periods; and
Ignoring consumers disputes of the charges and continuing to harass them after consumers requested verification of the debts.
The settlement with CAMCO, RM Financial, Reese Waugh, Jerome Kuebler, Scott R. Franson, and Mario Bianchi prohibits these deceptive and illegal practices. It further requires the defendants to pay a civil penalty in the amount of $300,000.

It requires that all written collection materials sent to consumers contain disclosures about consumers? rights under the FDCPA, provide an address and phone number consumers can use to contact the companies, disclose that the FTC enforces the FDCPA, and disclose ways to contact the FTC. It also contains certain recordkeeping and bookkeeping requirements to allow the FTC to monitor compliance."