Capital Acquisitions & Management Company - CAMCO Ripped me off once, trying to rip me off again, NEED ADVICE! Rockford Illinois
About a year or two ago, I received a letter from CAMCO stating that I owed about $1000 on an old credit card debt. Frantic, I paid them the money b/c they stated that they would re-submit this debt to my credit report, which is now on the up-and-up. Just the other day, I received another letter for another debt, which is about ten years old. It is quite possible that there was another debt, but from reading the posts on this website, I am not sure if I have to pay it (at least not to CAMCO, anyway).
Someone said that there is a four year statute of limitations on debt collection in the state of California, where I live. Is this true? I would call CAMCO to request proof of this debt, but I am worried that they will get my info and start the harassing phone calls, etc, that others have said they have received. Should I ignore the letters altogether? Should I have a lawyer contact them? Should I call them myself and pretend I am a lawyer and bully THEM into not contacting ME? Any advice would be helpful.
Jenny
San Francisco, California
U.S.A.
1 Updates & Rebuttals
Lifter
Los Angeles,California,
U.S.A.
Take action but PAY NOTHING
#2Consumer Suggestion
Fri, October 03, 2003
sCamco purchases "bad debts". Debts that are past
SOL, uncollectable and/or without documentation.
This alleged debt MAY NOT EVEN BE YOURS. Fact is,
the debt you already paid off may not have been
either. This company is notorious for persuing
payment of old debts that were already paid off
or cleared in BK.
They will make all sorts of statements if given
the opportunity... "If you value your credit...
Your social security number is attached to this
account... We don't have to proove you owe it, you
have to proove that you don't... etc. etc.
If you must speak to them, ask them very clear
questions. Keep your conversation short. Don't
allow them to bully you.
I personally would not contact a lawyer, unless
it's for advice only.
Dont, however, let them slide.
Keep a log of all contacts. Send out a letter of
dispute RIGHT AWAY. Check the web for samples, but
compose it yourself. Keep it short and to the
point. Make sure you demand a copy of a signed
agreement with the original creditor, proof of
underlying agreement and proof of reciept of funds. Of course, request the basics as well.
Name and ADDRESS of original creditor, principle
balance, etc.
Read up on FTC titles: FDCPA and FCRA. The web is
your friend.
IF THEY SO MUCH AS STEP OVER THE LINE. FILE
COMPLAINTS WITH THE FTC, ILL. STATE AG, AND THE
ILL. BBB.
Remember please, they CAN NOT sue you and they
CAN NOT re-enter an SOL debt onto your CR UNLESS
you make a payment.
Even if it is your debt DO NOT PAY CAMCO. They've
broken the rules too too too many times. Yes
sCamco has the legal right to persue VOLUNTARY
PAYMENT of an old debt, but that's it. They want
their "victims" to believe otherwise and have a
long record of breaking the law in the name of
"legal" debt collection. Don't fall for their
threats and lies.