Complaint Review: American Mutual Holdings Inc

American Mutual Holdings is debt brokerage (BUYING AND SELLING DEBT) company that speicalizes in the acquistion and sales of charge off consumer debt. (4MONTHS FROM DELINQUENCY TO 24 MONTHS OF DELINQUENCY)

" acquisition and sales of CHARGED OFF DEBT = consumer debt that is no longer owed " ---THE TERM "CHARGE-OFF IS A BANKING TERM FOR NO LONGER WITH THE ORIGINAL CREDITOR. THE AVERAGE CHARGE OFF DATE FOR ALL DEBT IS 4-6 MONTHS. DOES THIS MEAN THAT IF I STOP PAYING A CREDIT CARD FOR 6 MONTHS AND IT BECOMES CHARGED OFF-- THAT I NO LONGER OWE THE MONEY? NO! YOU ARE CONFUSING CHARGE OFF WITH STATUTE OF LIMITATIONS. THE STATUTE OF LIMITATIONS IS AN INDICATOR ON HOW LONG A COLLECTION AGENCY CAN COLLECT ON AN ACCOUNT AFTER ITS CHARGE OFF DATE, EVERY STATE VARIES AND THE RATES FALL FROM 3 YEARS (SEE MARYLAND) TO 15 YEARS (SEE LOUISIANA) --JUST BECAUSE A LOAN/CREDIT CARD HAS BEEN DELINQUENT FOR 6 OR MORE MONTHS DOES NOT MEAN YOU DONT OWE IT.

A charge off on your credit report is a bad thing, but it does mean that the ORIGINAL lender has opted to take the tax write off for the debt as uncollected. --ALSO NOT TRUE- CHARGE OFF ONLY MEANS THE ORIGINAL CREDITOR HAS TRANSFERRED THE ACCOUNT TO A CONTINGENCY COLLECTION AGENCY FOR 3RD PARTY COLLECTIONS. THIS MEANS YOU WILL GET CALLS FROM SOMEONE OTHER THAN THE COMPANY YOU BORROWED MONEY FROM. ARE YOU LISTENING TO WHAT YOU ARE SAYING? I CAN TAKE OUT A CAR/ HOME/ CREDIT CARD R LOAN .. STOP PAYING FOR 6 MONTHS AND I AM FREE AND CLEAR OF ALL RESPONSIBILITY??? I DOUBT THAT CHARGE OFF MEANS FORGIVEN!!!

If you deal with a reputable collection agency, they will contact you in writing with and offer to settle the debt.aLL "REPUTABLE" COLLECTION AGENCIES ARE BROUGHT IN AFTER THE CHARGE OFF DATE..SO, WHY DOES IT MATTER WHAT PROOF OR LETTERING THE COLLECTION AGENCY HAS..WHEN, ACCORDING TO YOU.. YOU DONT OWE IT AFTER 6 MONTHS ANYWAY!

If they are truly authorized to do this, they will have the original contract from the company you took the pay day loan from.

DO YOU HAVE ANY IDEA HOW MUCH DEBT IS CHARGED OFF IN A MONTH? SEARS-- $21MILLION A WEEK. SO, THE ORIGINAL DOCUMENTS ARE FLOWN AROUND THE COUNTRY TO EVERY AGENCY THAT EVER CALLS YOU? FROM INDIA TO MISSISSIPPI? HOPE NO ONE SPILLS COFFEE ON THEIR DESK, WETTING YOUR 'ORIGINAL CONTRACT' BEFORE WALKING IT OVER TO THE MAILBOX TO SEND IT TO THE NEXT AGENCY WHO WILL CALL YOU TOMORROW.

If they do not have this documentation, they are not legit. and a scam.

ORIGINAL DOCUMENTS DONT EXIST, IN A PAY DAY LOAN. ITS AN E-SIGN, E-FILE AND ALOT OF THE TIME DONE VIA FAX, EMAIL AND ONLINE. THE DOCUMENTATION IS BY REQUEST, AS 99% OF THE TIME YOUR ADDRESS HAS CHANGED AND MAIL RETURN HAS BEEN SENT BACK. CALLING THE AGENCY WILL ALLOW THE COLLECTOR TO ADDRESS YOUR CONCERNS; DATE ISSUED, DATE DELINQUENT, BANK USED, BANK ACCOUNT, EMAIL USED, ADDRESS USED, EMPLOYER LISTED ON THE APPLICATION AND THE REFERENCES YOU PLACED AS CREDIBLE ARE LISTED RIGHT NEXT TO YOUR NAME. IF YOU WANT THE DOCUMENT TYPED..THEY CAN DO THAT TOO.

If you are contacted about and old debt or one that you do not remember and they are threatening or representing as " from law offices " - just hang up!! they are not legit...

THERE ARE PLENTY OF LAW OFFICES THAT COVER COLLECTION OF DEBT. I WOULDNT HANG UP UNTIL YOU HAVE SPOKEN TO A HUMAN BEING, AT THE OFFICE TO DISCOVER WHETHER THERE IS ANY VALIDITY TO THEIR FILE. THE ACCOUNTS CONTAINED WITHIN EACH AGENCY HAVE BEEN ASSIGNED TO THE AGENCY FOR A VERY CLEAR OBJECTIVE- RECOVER THE FUNDS THAT ARE OWED. IF YOU DO NOT OWE THE DEBT-DISPUTE IT. IF SOMEONE STOLE YOUR IDENTITY-DISPUTE IT. IF THE DEBT WAS COVERED INA BANKRUPTCY-SHARE THE INFORMATION. IF YOU WANT A LETTER-ASK. IF YOU CAN'T AFFORD THE TERMS-COUNTEROFFER. TO ADVISE THAT EVERY CONSUMER JUST "HANG UP" ON A COLLECTOR ISNT WISE ADVICE. THERE ARE SUEING AGENCIES- AND THERE ARE NON-SUEING AGENCIES. HEARING THE COMPLAINT, HURTS NO ONE. IF YOU DONT AGREE WITH WHAT IS BEING SAID, SAY SO. RUN FROM YOUR DEBT AND YOU MAY HURT YOUR OPPORTUNITY TO RESOLVE SOMETHING YOU MAY NOT HAVE THE RIGHT TO PAY LATER DOWN THE ROAD. 

DID YOU KNOW THAT THE UNITED STATES DEPARTMENT OF TAXATION AND FINANCE AND THE UNITED STATES DEPARTMENT OF EDUCATION USE OVER 60 DIFFERENT COLLECTION AGENCIES IN THE USA? DID YOU KNOW THAT THE US CAN GARNISH YOUR WAGES WITHOUT HAVING TO GO TO COURT? AND THAT YOU CANNOT FILE BANKRUPTCY ON A STUDENT LOAN OR THAT THERE IS NO STATUTE OF LIMITATIONS ON A FEDERAL DEBT? COLLECTION AGENCIES ARE ANNOYING, YET ARE USEFULL TO FILLING THE GAP TO DEBT INCURRED AND NOT PAID BACK (ITS CALLED THE DEFECIT)

Under the FDCPA even a law office trying to collect a debt is a collection agent and held responsible...

THE FDCPA WAS WRITTEN IN 1977 TO PROTECT CONSUMERS FROM UNETHICAL BUSINESS PRACTICES AND ALLOWS THE FOLLOWING BEHAVIOR:

1. CALL YOU DAILY ANYTIME FROM 8AM TO 9PM AT YOUR HOME AND PLACE OF EMPLOYMENT.

2. CALL YOUR RELATIVES, REFERENCES AND SPOUSE TO ASK WHERE YOU ARE LIVING, WORKING AND WHAT YOUR # IS.

3. TO COLLECT MONEY FROM YOU, POSTDATED AND TO PULL MONEY OUT OF YOUR ACCOUNT ON THE DAYS WITHIN THE AGREEMENT.

4. TO REFUSE ALL OPTIONS BEYOND THE BALANCE IN FULL, PAID IN FULL TODAY.

5. TO TRANSFER YOUR ACCOUNT TO THE COMPANY ATTORNEY, WITHOUT YOUR CONSENT, FOR CONSULTATION ON THE NEXT BEST OPTION.

If it is not legit or operating outside of the FDCPA guidelines and stated collections laws REPORT THEM and to the FTC ans State Attorneys offices.

I AGREE WITH THIS STATEMENT, BUT ADVISE THAT YOU SPEAK TO THE COMPANY AND DECIDE IF YORU COMPLAINT WILL GET ATTENTION OR IF IT WILL BE PRESENTED TO THE COMPANY WHO WILL DEFEND THAT THEY HAVE NEVER SPOKEN TO YOU- THEREFORE HAVING YOUR COMPLAINT THROWN OUT ENTIRELY. A COMPLAINT HAS NO VALUE, UNLESS IT HAS DEPTH.

We as consumers have to protect ourselves and get crooked companies put out of business.

 I AGREE THAT THIS INDUSTRY IS LITTERED WITH TERRIBLE PEOPLE. AMERICAN MUTUAL HOLDINGS SELLS DEBT.... IT PLACES DEBT WITH SEVERAL AGENCIES...BUT,  IT NEVER EVER GETS ON THE TELEPHONE, SO I AM CURIOUS AT TO WHAT ISSUE YOUR COMPLAINT HAS IN THE RELEVANCE OF AMERICAN MUTUAL HOLDINGS? ARE YOU UPSET THAT THEY PURCHASED YOUR DEBT? IF YOUR ISSUE IS SOMETHING THAT A COLLECTION AGENCY HAS DONE, THEN YOUR REPORT IS NAMED TO THE INCORRECT COMPANY.

REAP WHAT YOUY SOWE!!!!!!!   I THINK ITS " you reap what you sow " AT LEAST WE CAN SEE THE SOPHISTICATION OF YOUR COMPLIANT FROM BEGINNING TO END. LET'S ALL GET BACK TO WORK TODAY. EITHER YOU ARE PLAYING ON THE COMPUTER FOR PERSONAL REASONS DURING THE WORK DAY (TISK/TISK) OR YOU DO NOT WORK AND HAVE A LOT OF TIME ON YOUR HANDS. EITHER WAY, FEEL FREE TO CONTACT THE COMPANY DIRECTLY WHO WILL FORWARD YOUR CALL TO THE AGENCY THAT HAS PURCHASED YOUR ACCOUNT. I HOPE WHATEVER ISSUES YOU HAVE WITH DEBT CAN BE RESOLVED MATURELY.

THANK YOU,

AMBER MILLER

SOCIAL MEDIA CONSULTANT

AMH