Jefferson Capital Systems, LLC ripoff St. Cloud Minnesota
Jefferson Capital Systems, LLC is a complete rip-off. Their first call has a recorded message introducing themselves as Embrace VISA. When you finally get to a representative, they answer Jefferson Capital Systems. Their letter itself clearly states that they are not affiliated with Embrace VISA, yet when I asked the representative why the first recording said Embrace, she clearly admitted that Embrace VISA was an affiliate of theirs or different division.
I opened what I thought was junk mail, since it had my son's name on it. The letter clearly stated that they were a collection agency and that Midland Funding turned my son's account over to them for collection. I asked her where she got her information from and she said she got it from Midland Funding. So they I asked the Prize Winning Question - and that was, if this was turned over to your collection agency, then how in the world was Midland Funding unaware of my son's address? She stated they must not have updated their records and that was the old address he lived at....
Now isn't that funny - Mainly because I moved to Texas 4 years ago for a job transfer, and my son, who is 28 still lives at the same address in California that he has lived at for 14 years. When I told her that, she said she wasn't sure why.
I ended the call and said this is a rip off and you are not through hearing from me.
Virginia
Houston, Texas
U.S.A.
1 Updates & Rebuttals
Douglas
Alexandria,Virginia,
U.S.A.
Midland sold uncollectables to jefferson financial
#2Consumer Comment
Mon, April 23, 2007
Debt collection clas 101:
When a debt goes unpaid for many years collection companies come in a buy old accounts for pennies on the dollar on the original balnce owed. Then when they track you down they add there fees and "interest" on top of original debt. Well this gives them negotiating room to settle for more than they paid original creditor. thats how they make their money! Now to case at hand:
I had account that was bought by midland creditor collector after they could not get any money they sold it to jefferson financial.
Well I get this offer in the mail one telling me in very plain english that it was a debt collector and the other was offer from Embrace.ZERO percent interest on the balance as long as you paid 12 payments on time. I read the offers over for a week and tried to find the catch, called and asked questions, no catch, you transfered what they said you owed and if you made 12 payments on time at 0%, balance was like 2000+ or something, if I paid on time for 12 months they would reduce that amount by $699.00 and I would have reasonable interest rate visa card, I said well I need to get this stuff cleared up since I had a bit of extra money a month after I signed up. Paid off the 1300+ of the 2200+ debt and got my visa card with I think either $699 or $799 credit limit. debt is paid I have visa for emergerncies. I only settle with the collectors that are nice to me and don't try to threaten me, when they do that they never get paid. I am happy and they are happy. They show the debt as paid not settled for less than amount due which is pretty important I have learned.
Son is 28 he needs to take them up on offer.
I never pay full amount they say I make them an offer they can't refuse! i offer 1/3 amount to see if they sound weak, if they come back immediately and say no way, then I ask them what they need to get there money or go to the black hole waiting! No lie settled a $4000++ account for around $1200 or $1300, I could give you the numbers on other accounts but you get the point. They never go away, they will find a way to speak to the debtor shortly before the statue of limitations is up and you start another 5 yrs or 7yrs on your credit report. Hppened to me one month before statute of limitations.
I owed the money and when i had ability to pay and they were reasonable with me, I settled. Win/Win, So just take them up on their fair offer and settle the debt! If I thought they were a scam I would be the first to say report them to state attorney general consumer fraud and the FBI (wire fraud), US postal service(mail fraud) and all the other 3 letter federal agencies I have in my contact book!
Only limit to ?Embrace is until you have card a while you can't transfer high interest card balnaces to it, which makes sense it is a rebuilding credit company, so they don't want to give us dead beats they rope to hang ourselves with.
Very seldom will you hear me defend a collection agency, jefferson/embrace good to go/capital one collections were so nice to me I asked the girl if she had second account she was the agent on that one too settled both over few months, ONLY cause she treated me like a human being.