- Report: #317419
Complaint Review: Zenith Acquisition Corp - Amherst New York
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Zenith Acquisition Corp
170 Northpointe Parkway, Suite 300 Amherst, 14228 New York, U.S.A.
Phone:
866-826-3698
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Zenith Acquisition Corp Demanding Money Amherst New York
I have a old Credit Card debt that was turned over to a collection company called Wyse Financial. On or about 9/30/2008 a representative from Wyse called me and offered me a settlement, who said taking the settlement would stop the phone calls and take my debt out of collections; which I agreed to and sent my payments as requested. During the month before the last payment was due, and unknown to me, about 2500 of Wyse's contracts were "sold" to Zenith Acq. (This information was given to me by Zenith. Of those 2500 contracts about 1800 were in the same situation as me.)
As per my previous agreement Zenith stated that I needed to make my last payment to them and they would continue to request my contract from Wyse and not to worry it would be taken care of. I made the final payment and I felt the matter was closed.
I received a new letter from Zenith now saying that I owed the full amount and they were not able to obtain the original agreement from Wyse. I was not able to produce a letter from Wyse stating the terms of the agreement and since agreement was a verbal "over the phone" transaction Zenith would not honor it and I would have to pay the full amount including a 28% interest on the debt. By not paying it would prompt harassing phone calls and a bad debt affecting my credit rating.
Today I received a phone call from Zenith stating that I needed to resume payments as soon as possible. Now realizing I was being ripped off, I requested from Zenith, a copy of my file with all the transactions from the previous company, which I was told I could not have. The rep from Zenith offered me a deal of no interest as long as I made monthly payments. I agreed to a very small monthly payment to protect my credit rating.
I then requested a copy of the agreement we had just made and she could not send me one. "That would have be generated from their Lawyer." I then asked to send me a copy of the computer screen she was looking at so I would have proof of our no interest transaction and she "didn't have a printer." I then insisted on a statement of what I owed and how much of the balance had been paid and she would "send me a statement with the payment that was owed each month," and nothing else.
I am contacting a lawyer to see what my rights are ASAP.
Cheri
WI, Wisconsin
U.S.A.
As per my previous agreement Zenith stated that I needed to make my last payment to them and they would continue to request my contract from Wyse and not to worry it would be taken care of. I made the final payment and I felt the matter was closed.
I received a new letter from Zenith now saying that I owed the full amount and they were not able to obtain the original agreement from Wyse. I was not able to produce a letter from Wyse stating the terms of the agreement and since agreement was a verbal "over the phone" transaction Zenith would not honor it and I would have to pay the full amount including a 28% interest on the debt. By not paying it would prompt harassing phone calls and a bad debt affecting my credit rating.
Today I received a phone call from Zenith stating that I needed to resume payments as soon as possible. Now realizing I was being ripped off, I requested from Zenith, a copy of my file with all the transactions from the previous company, which I was told I could not have. The rep from Zenith offered me a deal of no interest as long as I made monthly payments. I agreed to a very small monthly payment to protect my credit rating.
I then requested a copy of the agreement we had just made and she could not send me one. "That would have be generated from their Lawyer." I then asked to send me a copy of the computer screen she was looking at so I would have proof of our no interest transaction and she "didn't have a printer." I then insisted on a statement of what I owed and how much of the balance had been paid and she would "send me a statement with the payment that was owed each month," and nothing else.
I am contacting a lawyer to see what my rights are ASAP.
Cheri
WI, Wisconsin
U.S.A.
4 Updates & Rebuttals
Odog
Sunnyvale,California,
U.S.A.
Zenith and other collectors play the same games
#2Consumer Comment
Fri, March 21, 2008
I am also being hounded by Zenith under a similar situation. I settled an old credit card debt down to four thousand with a collection company named Receivable Management Solutions. I made a total of two thousand dollars worth of payments, bringing my balance down to two thousand. Then, this past January I get a call from Zenith saying that they acquired my account and that I owe the full balance, that unless I have documentation showing a settlement that they will proceed to collect the full balance. The only documentation I have is a letter I sent to RMS stating the settlement detail, including the new balance, payment plan and authorization to directly withdraw the money on the dates given along with my account number. Despite my best efforts RMS would never send me a letter acknowledging our settlement. When I informed Zenith of this they said that to go ahead make payments as I had previously arranged. They found a computer entry on my account where the settlement is clearly discussed and settled upon. I made a five hundred dollar payment in February since they acknowledged the settlement, that they were just waiting on a confirmation letter. I made the payment by phone where they recorded my voice saying it is ok to take the money from my account towards the two thousand dollar balance. Now its March and I get a bill from Zenith and its 8800 dollars. Upon calling them they refuse to acknowledge any settlement, regardless of the letter I wrote, the computer entry they have or my voice recording detailing the specifics of allowing the withdrawal from my account. Cheri, please post any results or information that you come across...I have a feeling we arent the only ones affected in this way. It seems that collection agencies can settle, take your money, then sell off the account to another company that will void any previous settlement. You can then negotiate with them, a new settlement, and just when you are about to pay it off....they will sell your account again for what seems like an indefinite amount of time.
Odog
Sunnyvale,California,
U.S.A.
Zenith and other collectors play the same games
#3Consumer Comment
Fri, March 21, 2008
I am also being hounded by Zenith under a similar situation. I settled an old credit card debt down to four thousand with a collection company named Receivable Management Solutions. I made a total of two thousand dollars worth of payments, bringing my balance down to two thousand. Then, this past January I get a call from Zenith saying that they acquired my account and that I owe the full balance, that unless I have documentation showing a settlement that they will proceed to collect the full balance. The only documentation I have is a letter I sent to RMS stating the settlement detail, including the new balance, payment plan and authorization to directly withdraw the money on the dates given along with my account number. Despite my best efforts RMS would never send me a letter acknowledging our settlement. When I informed Zenith of this they said that to go ahead make payments as I had previously arranged. They found a computer entry on my account where the settlement is clearly discussed and settled upon. I made a five hundred dollar payment in February since they acknowledged the settlement, that they were just waiting on a confirmation letter. I made the payment by phone where they recorded my voice saying it is ok to take the money from my account towards the two thousand dollar balance. Now its March and I get a bill from Zenith and its 8800 dollars. Upon calling them they refuse to acknowledge any settlement, regardless of the letter I wrote, the computer entry they have or my voice recording detailing the specifics of allowing the withdrawal from my account. Cheri, please post any results or information that you come across...I have a feeling we arent the only ones affected in this way. It seems that collection agencies can settle, take your money, then sell off the account to another company that will void any previous settlement. You can then negotiate with them, a new settlement, and just when you are about to pay it off....they will sell your account again for what seems like an indefinite amount of time.
Odog
Sunnyvale,California,
U.S.A.
Zenith and other collectors play the same games
#4Consumer Comment
Fri, March 21, 2008
I am also being hounded by Zenith under a similar situation. I settled an old credit card debt down to four thousand with a collection company named Receivable Management Solutions. I made a total of two thousand dollars worth of payments, bringing my balance down to two thousand. Then, this past January I get a call from Zenith saying that they acquired my account and that I owe the full balance, that unless I have documentation showing a settlement that they will proceed to collect the full balance. The only documentation I have is a letter I sent to RMS stating the settlement detail, including the new balance, payment plan and authorization to directly withdraw the money on the dates given along with my account number. Despite my best efforts RMS would never send me a letter acknowledging our settlement. When I informed Zenith of this they said that to go ahead make payments as I had previously arranged. They found a computer entry on my account where the settlement is clearly discussed and settled upon. I made a five hundred dollar payment in February since they acknowledged the settlement, that they were just waiting on a confirmation letter. I made the payment by phone where they recorded my voice saying it is ok to take the money from my account towards the two thousand dollar balance. Now its March and I get a bill from Zenith and its 8800 dollars. Upon calling them they refuse to acknowledge any settlement, regardless of the letter I wrote, the computer entry they have or my voice recording detailing the specifics of allowing the withdrawal from my account. Cheri, please post any results or information that you come across...I have a feeling we arent the only ones affected in this way. It seems that collection agencies can settle, take your money, then sell off the account to another company that will void any previous settlement. You can then negotiate with them, a new settlement, and just when you are about to pay it off....they will sell your account again for what seems like an indefinite amount of time.
Odog
Sunnyvale,California,
U.S.A.
Zenith and other collectors play the same games
#5Consumer Comment
Fri, March 21, 2008
I am also being hounded by Zenith under a similar situation. I settled an old credit card debt down to four thousand with a collection company named Receivable Management Solutions. I made a total of two thousand dollars worth of payments, bringing my balance down to two thousand. Then, this past January I get a call from Zenith saying that they acquired my account and that I owe the full balance, that unless I have documentation showing a settlement that they will proceed to collect the full balance. The only documentation I have is a letter I sent to RMS stating the settlement detail, including the new balance, payment plan and authorization to directly withdraw the money on the dates given along with my account number. Despite my best efforts RMS would never send me a letter acknowledging our settlement. When I informed Zenith of this they said that to go ahead make payments as I had previously arranged. They found a computer entry on my account where the settlement is clearly discussed and settled upon. I made a five hundred dollar payment in February since they acknowledged the settlement, that they were just waiting on a confirmation letter. I made the payment by phone where they recorded my voice saying it is ok to take the money from my account towards the two thousand dollar balance. Now its March and I get a bill from Zenith and its 8800 dollars. Upon calling them they refuse to acknowledge any settlement, regardless of the letter I wrote, the computer entry they have or my voice recording detailing the specifics of allowing the withdrawal from my account. Cheri, please post any results or information that you come across...I have a feeling we arent the only ones affected in this way. It seems that collection agencies can settle, take your money, then sell off the account to another company that will void any previous settlement. You can then negotiate with them, a new settlement, and just when you are about to pay it off....they will sell your account again for what seems like an indefinite amount of time.
