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LadynRed

CAMCO debt portfolio - RESURRECTED - Merchants Credit Guide

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Figured it had to happen sooner or later. If you're being harrasssed by MCG, you need to read this:

NCO, MERCHANTS CREDIT GUIDE BEGGARS STOOP TO NEW LOW NCO Financial has purchased an old, VERY old portfolio from the bankrupt CAMCO agency and assigned accounts to Merchants Credit Guide. The sick part of this these debts date back to the late 80’s and early 90’s. What kind of sick perverted debt collector works accounts this old? NCOs reputation is already in the toilet, this desperate grab at accounts that are time barred by statute is yet another reason why these sick-o’s need to be reigned in. It is also a sad commentary on the jerks at Merchants Credit Guide of Chicago. Perhaps we should print the home address of NCOs Michael Barrist and Merchants Edwin S. Burtis so that consumers who are contacted by their sleazy collectors can vent their anger and frustration direct. I’d be interested in your comments. DON’T pay NCO or Merchants beggars. These debts cannot be legally collected; they cannot take any legal actions, or even look at your credit reports over them.

http://www.budhibbs.com/budsnews.htm

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Wasn't there a clause in the "settlement" that said they could not sell the very kind of debts that got them (CAMCO) into trouble in the first place?

Time to go digging around the FTC site...

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Guest BadAccountant

LadynRed

I just got a letter from MCG today and it says the represent Genesis Financial Solutions and they state in the letter the OC is Sears! I haven't had a Sears card since I was in the military in 93.

Do I dv as usual, not respond, or do you have other advice?

P.S. your posts always make me feel safe and secure, thanks.

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Wasn't there a clause in the "settlement" that said they could not sell the very kind of debts that got them (CAMCO) into trouble in the first place?

Time to go digging around the FTC site...

The FTC sold the accounts as part of the deal. What a bunch of morons.

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Send a firm letter "time Barred".

This has gotten way out of hand.

We need to unite and complain to FTC........ Time barred accounts should be just that time barred....

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Guest BadAccountant

I'm not sure I know what time barred means. Obviously it is past the sol, and it past the period it can be inserted in my credit file, but is time barred a different concept?

thanks.

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The FTC sold the accounts as part of the deal. What a bunch of morons.

The FTC sold the accounts to a JDB and pocketed the money?

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The FTC sold the accounts as part of the deal. What a bunch of morons.

The FTC sold the accounts to a JDB and pocketed the money?

Actually, if I remember correctly the debts were auctioned off with all the office equptment, ect.....

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Time-barred means it is past the legal limits for legal action to enforce collection of the debt. They can try to sue you, but the expired SOL gives you an absolute defense against them and to get the case thrown out.

Send them the get lost letter, never contact you again, the debt is time-barred. Keep copies of everything.

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Guest BadAccountant

Alright, shredding dv, sending get lost letter instead. Thanks for the advice. :D

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