Complaint Review: Merchants Credit Guide Company - Chicago Illinois

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P, thank you for the information. I have sent an email to budhibbs.com. will update you on what happens... thanks again!

Cut and paste from Bud Hibbs budhibbs.com "Head Debt Collectors: Daniel F. Burtis, President Michael Fromknecht, President Gregory Fuchs, Vice President Edwin S. Burtis, Secretary, Treasurer Kenneth Hill, VP Operations Bud Says Rarely has one organization generated the number of complaints that this one has. Consumers coast to coast are complaining about Merchants Credit Guide Co. attempting to collect on debts that are time barred by statute. Agency owner and President Greg Fuchs, Daniel F. and Edwin S. Burtis are a class action law suit waiting to happen. Merchants is a bottom-feeder who purchased and is attempting to collect on debts that are ten, twelve, fifteen years old and longer. These slimy dumpster divers have taken the slime to yet another low, with their illegal practices. Merchants is collecting for it's own subsidiary; CFB Financial III, LLC (IL LLC) on debts so old, most are time barred by statute meaning they can no longer be litigated, they can no longer be placed on your credit reports and the slime at Merchants and CFB Financial can be sued for their illegal debt collection practices. Some Citibank accounts were originally charged off back in the 90's, which tells me that owner's Burtis likely paid just pennies for them. Their debt collectors are poorly trained, making threats of actions they cannot take and we are receiving many complaints of time barred debts appearing on credit reports. The good news is you can sue these idiots and may even be able to recoup legal fees in your suits. What the Burtis's are doing is not new or even unique, just a different spin on an old consumer scam, to rip off unsuspecting consumers. Consumers a warned NOT to fall victim of the scam. Now is the time for consumers to go after this low-life, sleazy bottom feeders that lie and steal money they are NOT entitled to. Anyone having inside information on Burtis and the lawbreakers who work for him get in touch with me. We are seeking any information available on Fuchs & Burtis such as where they live, what they drive, church, organizations, family, connections, anything at all, get it to us. This also includes the sleazy employees working there; let's focus on them to see who and what they are, when they are not on a crime spree. Many complaints are for accounts consumers do not even owe, however the idiots at MCG have a lot of trouble understanding that. Wonder what their drug testing policy is? Anyone being contacted by Merchants Credit Guide is urged to NEVER send them money, they are a scam. All of the debts they are attempting to collect appear to illegal. You do NOT legally have to pay on a debt that is time barred. If Merchants Credit Guide Co. has accessed or placed information on your credit bureau report(s), they may have committed a crime. You may be able to collect a fee of $1,000 from them AND have Merchants Credit Guide pay your attorney fees. Fuchs, Burtis and their goons are liars and con men, let's hold them accountable. If you need a good consumer attorney, I recommend the experts at: www.naca.net You may want to consider legal actions against Fuch, Burtis and Merchants if warranted. Tape record their calls (where legal) as tapes go a long way in court settlements. This group of dumpster slime won't be around long, let's hasten their demise by going after their illegal debt collection practices. Contact me if you have personal information on Gregory Fuchs, Edwin S. and Daniel Burtis or the other goons working at Merchants Credit Guide Co and CFB Financial III. I also recommend you visit the Ripoff Report for more: ripoffreport.com/reports/ripoff171912.htm budhibbs.com

Donna, I'm sorry to hear they scammed you. You are not alone. The problem is that when you made that payment, you legally affirmed the debt and reset the SOL. Now the debt is legally collectable. They can sue you for it and win. And they will. MCG Co is the worst of the worst. they are the definition of lowlife. At this point, change your phone# to an unlisted one and close out that bank account and open one at another bank. Cross your fingers and hope they don't sue you. A good lawyer would cost you almost as much as paying them off. This is a tough situation. Lay low. Be invisible. You may end up hiring a nlawyer, but make them work for it first.

Steve, thank you for the information. I did not know about the statute of limitations until after I made the initial payment. As I stated in my first message,this was a marital debt that was not fulfilled. I offered to pay them $1350 to satisfy this before I knew the SOL was out. They stated they would pursue me for the entire $11,000 if I didn't agree to their payment terms which was $1000 and then three payments of $590 in the next three months. I am a single mother and explained to the manager yesterday, Steve Kennedy, that I was not able to pay anymore and he stated that they would cease and desist but that the $1000 would go through. He stated that no more money would be taken from my account. What should I do next? I explained that I will not have that kind of money in my account to clear their payment requests. I was trying to do the right thing and at least pay something on this account and borrowed this money from a family member. I have learned something new but I was trying to make the effort to pay something. Any advice is greatly appreciated!

Donna, Why would you pay on an account you know to be legally uncollectable? All you had to do was inform them they could not collect on it, then sent the CEASE COMMUNICATIONS request as per your rights under the FDCPA. These are junk debt buyers who paid far less than 1 penny on the dollar for a debt of this age and type. They most likely paid about 10 bucks for this "debt" if based on the 11k claimed. About 1/10th of a penny on the dollar on a 15+ year old out of stat debt. On the $4400 they paid about 4 bucks. If the original debt was only $4400, they would have to justify any amount over that. They cannot add "collection fees", only interest as allowed by law. NEVER speak to any debt collector on the phone, and NEVER pay a third party debt collector. ALWAYS make them sue you. Most won't. This is NOT legal advice. The SOL in TN is 6 years.

The check did go through the bank last night and yes the money was there. No,I did not have insufficient funds. My problem with this is that it is a 15 year old debt that I am not entirely responsible for. If the SOL applies to others why doesn't it to this case. According to Florida law the SOL applies. I do not plan to make any more payments for this debt.

A few things... First, the Statute of Limitations is more of a legal term. Once the SOL is passed, it means you can not be sued for the debt, not that it is uncollectable. Second, what you described, it sounds like you have made a payment, but it has not hit your bank yet. If the payment is processed on their end, but has not hit your bank, the collection agency can not stop the payment. And before every posts about scam collection agencies, read the post, they have done what they could. Third, and this is speculation on my part ( I will await the post from Steve), if you cancel or have the payment come back insufficient funds, I would THINK that you have re-affirmed the debt anyways, as you attempted to make the payment. Last question, and not trying to be rude, just asking, why did you set up a check if the funds are not there? I am assuming that you meant that since you thought the SOL expired, you spent the money elsewhere.