Debt Collector Accused Of Taking Money From People Who Didn't Owe Anything

As part of its ongoing efforts to combat malicious debt collectors, the Federal Trade Commission accused the North Carolina company from implementing a "phantom" debt recovery program pursuing funds that were not actually borrowed by them .

The US Federal Trade Commission today announced that ACDI Group LLC and its portfolio-only company and its operators Anthony Swatsworth are from payday loan borrowers, even though these obligations are deemed false Announced that it filed a lawsuit claiming to be claimed. Collect money

According to the complaint [PDF], in July 2014, ACDI bought a payday loan portfolio equivalent of $ 992,000 from SQ Capital.

In total, the portfolio contains a record of 2,335 payday lenders 500 Fast Cash outstanding debt. The information included in the record includes personal name, address, social security number, telephone number, e-mail address, loan amount, payment amount, and bank account information.

After purchasing the debt, the FTC immediately claimed that ACDI began to contact the borrowers to recover the debt.

However, in many cases, the company asked individuals for protests against so-called debts, and in some cases provided evidence that they did not approve a 500 Fast Cash payday loan at all.

Then ACDI reported numerous complaints to UDH, UDH is an agent arranging to purchase a debt portfolio from SQ Capital.

The US Federal Open Market Committee insisted that UDH ordered ACDI to stop collecting debt in August 2014 and assertions with some borrowers have never borrowed a loan even if they have never borrowed a loan And complained. In September, ACDI received a full refund.

According to the US Federal Trade Commission, ACDI is not entitled to recover these obligations as debt sold by SQ Capital is forged. Nevertheless, the lawsuit claimed that ACDI will continue collecting counterfeit loans for at least seven months.

In general, the Federal Trade Commission of the United States asserts that ACDI collects and processes at least $ 30,000 in arrears.

The US Federal Trade Commission criticized ACDI for violating FTC law and Fair Debt Collection law and attempting to return individuals affected by fake debt collection program

Within five days after the debt collector first contacts you, the debt collector tells you the name of the creditor, the amount to pay, and the action you should take if you think you should pay the money I have to send a written notice to tell. If you owe a piece of money or payment, please contact the creditor to arrange the payment. If you think that you owe money, please contact the creditor in writing, send a copy to the collection agency and tell them not to contact you. If there is a problem with the debt collection agency, please report it to the Secretary of Justice, Federal Trade Commission (FTC), and Consumer Finance Protection Agency (CFPB). In many states, there is a unique loan collection law different from the federal fair debt collection law. Your state law firm office can help you to understand your rights under the laws of your state

Recovery collectors are usually individuals or companies that collect debts that are regularly paid to others when these obligations expire. This includes debt collection agencies, lawyers collecting debt as part of their business, and companies that attempt to collect debt after purchasing debts in arrears. The Fair Debt Recovery Act (FDCPA) prohibits creditors from using abusive, injustice or fraudulent practices to prosecute you. Within five days after the debt collector first contacts you, the debt collector tells you the name of the creditor, the amount to pay, and the action you should take if you think you should pay the money I have to send a written notice to tell. If you owe a piece of money or payment, please contact the creditor to arrange the payment. If you believe that you are being delinquent, please contact the creditor in writing, send a copy to the collection agency and notify you not to contact.