- Report: #264376
Complaint Review: Creditor's Interchange - BUFFALIO New York
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Creditor's Interchange
80 HOLTZ Dr BUFFALIO, 14225 New York, U.S.A.
Phone:
716-6147533
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Creditor's Interchange Violation of the Fair Debt Collection Practices Act, sec 805 and sec 807 ripoff BUFFALIO New York
I received a call from Mr. John Foster today at work claiming that he is an attorny for Bank of America. I have hired Credit Solutions last month and sent letter to Bank of America stating that Credit Solutions has the power of an attorny from me representing me to negociate for settlment.
Until then, my payments had been update. Mr. Foster told me that I was about to be sued and Bank of America will not negotiate with Credie Solutions. When I called Mr. Foster back, the receptionist refused to give me the name of the company, which raised my suspection. I did a little research and found out that Mr. Foster is in fact a debt collector of Creditor's Interchange.
Furthermore, I received a fax from a Lisa Martin of Creditor's Interchange stating that I requested her to send me the letter as a debt collector.
As I read through the Fair Debt Collection Parctices Act, not only Mr. Foster has violated sec 7, which is dalse or misleading representations, but also sec 805 since I have sent the letter to Bank of America ceasing communication. Further more, they conacted me at work, which is also a violation.
Mr. Foster also urged me to break my contract with Credit Solutions and report them to Federal Trade Commission. As I was about to do so, because I was so scared, I decided to do a research myself. Let's just say that I am glad I did. I hope that no one else have to go through what I went through today.
Lisa
alexandria, Virginia
U.S.A.
Until then, my payments had been update. Mr. Foster told me that I was about to be sued and Bank of America will not negotiate with Credie Solutions. When I called Mr. Foster back, the receptionist refused to give me the name of the company, which raised my suspection. I did a little research and found out that Mr. Foster is in fact a debt collector of Creditor's Interchange.
Furthermore, I received a fax from a Lisa Martin of Creditor's Interchange stating that I requested her to send me the letter as a debt collector.
As I read through the Fair Debt Collection Parctices Act, not only Mr. Foster has violated sec 7, which is dalse or misleading representations, but also sec 805 since I have sent the letter to Bank of America ceasing communication. Further more, they conacted me at work, which is also a violation.
Mr. Foster also urged me to break my contract with Credit Solutions and report them to Federal Trade Commission. As I was about to do so, because I was so scared, I decided to do a research myself. Let's just say that I am glad I did. I hope that no one else have to go through what I went through today.
Lisa
alexandria, Virginia
U.S.A.
3 Updates & Rebuttals
John
Louisville,Kentucky,
U.S.A.
RE: comment
#2Consumer Comment
Tue, October 09, 2007
Any sort of "debt settlement" firm is suspect as far as I'm concerned. They can't do anything that you can't do yourself. You do not need a debt settlement firm to negotiate a settlement with a credit card company. You can often do this yourself (if you are far enough behind on your payments). Credit card companies are under no obligation to accept any settlement offer from either Credit Solutions or yourself. "I received a call from Mr. John Foster today at work claiming that he is an attorney for Bank of America." It is illegal for a collection agent to pose as an attorney or to imply that legal action is being taken when that is not the case. Your response to such a statement should be as follows: "Mr. Foster, please provide you license number in your state bar association." I have read that many credit card companies will not negotiate with firms like CSA. I don't blame them. If you are going to negotiate a settlement with a credit card company. do it yourself and get the terms in WRITING before you give them any more money. DO NOT under any circumstances make a settlement agreement over the phone without getting a written agreement from them about the settlement. Lastly, "settling" an account for substantially less than the full amount may increase your next year's tax bill....Settled debt is considered as if it were earned income. Yes, that sounds strange and it's unfair. but that's the way it is.
Kmmp
Ramona,California,
U.S.A.
BOA DOES DEAL WITH CREDITOR'S INTERCHANGE
#3Consumer Comment
Tue, October 09, 2007
In response to the above rebuttal; Yes, BOA does work with these people. I just got off the phone with BOA and they have "referred" my accounts to two different parties, Creditors Interchange and Hannah & Associates
X
Oakland,California,
U.S.A.
Bank of America Does Not Deal With Debt Settlement Companies
#4Consumer Comment
Wed, August 01, 2007
In the future, I would advise you contact your creditors to find out whether or not they will deal with a debt settlement company. I know of at least three banks that will not; Citi, GE Money, and Bank of America. It is the creditors right to chose not to deal with them. I know for a fact that one of these banks will immediately sent your account to legal if they receive communication from any debt settlement company. Our bank sends it to our network of lawyers advising them to pursue obtaining a judgment.
