KentWA Posted July 26, 2007 Report Share Posted July 26, 2007 I could swear I have seen this before, but have been unable to find anything. The other day I received a credit card offer in the mail, typical crap and tossed it on the pile to shred. My GF went to shred the things we had received and happened to notice the mini Miranda on the back right before putting it in the shredder. They are trying to collect for Asset Acceptance which could not validate over 2 years ago and went away. This is first contact with this CA.I have sent a DV to them, however I am wondering if there is a violation here in and of itself due to deceptive practices. The entire front of the letter looks like a standard offer for a credit card, it is only when you carefully read the entire letter front and back that you realize what it is. My thinking is that since there are so many credit card offers every day in the mail, that it is deceptive to disguise the intent of a first contact letter in this manner. Link to comment Share on other sites More sharing options...
torikid Posted July 26, 2007 Report Share Posted July 26, 2007 I receive the same letter before. I thought it was odd and tricky. Link to comment Share on other sites More sharing options...
PolarBearnCO Posted July 26, 2007 Report Share Posted July 26, 2007 You should scan it and post it so we can see what the front and back look like. Black out any personal information, but I bet a lot of us would love to see it.I wonder if you could apply and get refused... hahaha. You could say your income is only $1/mo. Link to comment Share on other sites More sharing options...
hinky Posted July 26, 2007 Report Share Posted July 26, 2007 I wonder if you could apply and get refused... hahaha. You could say your income is only $1/mo. Link to comment Share on other sites More sharing options...
divemedic Posted July 27, 2007 Report Share Posted July 27, 2007 I think the CA you are talking about is the Westmoreland Group, and they are owned by CAP1 Link to comment Share on other sites More sharing options...
KentWA Posted July 29, 2007 Author Report Share Posted July 29, 2007 Actually it is Genesis Financial Solutions, Inc collecting for Asset Acceptance on a debt that Asset never answered my DV on and was with a company that I had never had a CC with. An interesting twist in reading the fine print is that if you send the paperwork back to them it constitues an agreement to transfer the account to a new account, effectively restarting the SOL.It was certainly nice of them though to provide a postage paid envelope to stuff full of other junk mail I have around the house. I just have to get it 1/4 inch thick so that it costs them $1.37 in postage! Link to comment Share on other sites More sharing options...
jetscarbie Posted July 29, 2007 Report Share Posted July 29, 2007 I get those all the time. This was the latest one. Link to comment Share on other sites More sharing options...
whocares Posted July 30, 2007 Report Share Posted July 30, 2007 It looks real and if you don't read it...well....Very clever plan Link to comment Share on other sites More sharing options...
Moneedshelp Posted July 30, 2007 Report Share Posted July 30, 2007 WOW, this is a good one. But if you read any of it, it is apparent what is going on. Sleazy, sleazy!! Link to comment Share on other sites More sharing options...
razr Posted July 30, 2007 Report Share Posted July 30, 2007 Looks like a sweet deal to me!-r Link to comment Share on other sites More sharing options...
PolarBearnCO Posted July 30, 2007 Report Share Posted July 30, 2007 Yeah, looks really obvious if your eyes fall on any part of it. Link to comment Share on other sites More sharing options...
Desert Bloom Posted July 30, 2007 Report Share Posted July 30, 2007 In July 2006 Vital Recovery Services sent me a dunning letter on an SOL account. I DV'd them and got no response. In August 2006 I got a dunning letter from Resurgent Capital for the same debt -- I DV'd them twice and got no response.This spring I got a similar letter as yours from Resurgent Capital offering me a credit card to transfer the same debt that I had DV'd them about. I DV'd again, no response.Last month I got another 'credit card offer' dunning letter from Resurgent Capital on the same debt. I sent them a C&D letter and copied FTC and my State (CA) AG. I doubt this will help to change anything -- but it is really, really sneaky of these JDB's to send these letters. Most of us just round-file credit card offers without opening them.Just an FYI -- Asset Acceptance, Vital Recovery, Resurgent and many other companies are part of the "Sherman Companies'; a big JDB who buys the debt under the name of one of it's companies and then collects through another of its companies -- then moves the 'ownership' of the debt around and continues sending dunning letters as a new 'Owner'. I think this 'credit card offer' dunning letter is just the newest trick they are using to try to fool people into paying on these old debts. Link to comment Share on other sites More sharing options...
jetscarbie Posted July 30, 2007 Report Share Posted July 30, 2007 I ALMOST fell for that offer. I decided to check it out on the internet and after digging, that is how I found this site. hahaRead the small print. That is where they get you at. Especially the one that says "Time Barred Debt" They also have some copying charges and annual fee. What?I wonder how many people have got suckered in b/c of letters like that? Link to comment Share on other sites More sharing options...
torikid Posted August 1, 2007 Report Share Posted August 1, 2007 BTW, I DVed them and immediately got an apology letter with promise they did nothing on my credit report. Now I am awaiting a reply for them to remove their inquiry. Link to comment Share on other sites More sharing options...
zfire Posted August 1, 2007 Report Share Posted August 1, 2007 We got one from Jefferson Capital. This thing is so far past SOL that it hasn'teven on the CRA's for a long time."If your present debt is outside the applicable SOL period, then a lawsuit cannot be filed to collect on this debt." I am wondering since they already know this debt is out of SOL, how many unsuspecting people are going to fall for this "credit repair" scheme.I also like the part on the back that says that they won't file suit even if the debt is within the reporting period. (they don't bother to define what the reporting period is, because they probably figure most people think it is 7 years) Meaning of course..you take their offer, then default later that the supposed bank who issues the card will take legal action. . This wording is a bit tricky. I hope people aren't falling for these things.z Link to comment Share on other sites More sharing options...
Flyingifr Posted August 1, 2007 Report Share Posted August 1, 2007 They do this on Out of Statute debts so that by accepting the new Credit Card (whose credit line just happens to be the amount owed so that it is immediately maxed out) you are making a brand new, in-Statute debt that they can sue you for if you can't keep up the payments.Anyone who falls for this should immediately check themselves into your State Home for the Mentally Deficient. You really have to be an idiot to accept this. Link to comment Share on other sites More sharing options...
mcmelvit1 Posted August 2, 2007 Report Share Posted August 2, 2007 I had the same thing happen to me and they actually made it appear to be doing me a favor. I got rid of it. Link to comment Share on other sites More sharing options...
rmuse00 Posted August 2, 2007 Report Share Posted August 2, 2007 DH got one the other day for his providian that was charged off in 1998. DH thought he should do it. Has he not heard what I have been telling him for the pat 2 years? Unfortunately, more people then you think do fall for stuff like this. They don't know any better. Like some of us before we came to this board. Link to comment Share on other sites More sharing options...
zfire Posted August 2, 2007 Report Share Posted August 2, 2007 It's really sad that everyone doesn't knoiw about this great board, or the one over at the credit terrorist camp. And a big shame that the states don't educate their consumers. Link to comment Share on other sites More sharing options...
IHateCAs Posted August 2, 2007 Report Share Posted August 2, 2007 My position on this, is that its a potential violation of 1692c( IE illegal communication with 3rd parties regarding a debt. Link to comment Share on other sites More sharing options...
KentWA Posted August 4, 2007 Author Report Share Posted August 4, 2007 I have done quite a bit of research in the last few days and the Texas and Indiana AG's have a bit to say about it and how deceptive it is. I also found a court case that supports it (CARBAJAL v. Cap. One), although it was settled CAP One Et. Al attempted a dismissal and in a well reasoned denial of that motion the court made it clear that it was in fact a vialation.History first:-I never did business with the OC-I DVed Asset repeatedly with no answer (still have copies and green cards)-Fell off report 2 years ago-This is first CommunicationPossible violations on this that I have come up with so far:-Failure of Asset to communicate that the debt was disputed when assigning to Genises Financial.-Failure of Genisis to communicate to WebBank (the issuer) the disputed status.-Mischariterizing the nature and status of the debt by not communicating that it is a time barred debt and acceptance would revive the debt.-Deceptive First Contact mail (more on this below)The decptive nature of this first letter is that it is not clearly from a JDB. Most people are going to throw it away without looking much at it. This means they are likely to miss the 30 day window to dispute and tie the hands of the JDB. Those who are less sophisticated are likely to be lured in and revive a debt that is uncollectable. All the TILA requirements bury the mini miranda language. In CARBAJAL the court said that TILA requirements do not dimiss the CAs duties under FDCPA "Plaintiffs have a viable claim that the validation notice was obscured in a way that violated the FDCPA."There is also a very strong public indication that WebBank and Genesis have caluded to create a scheme to defraud through this arrangement. I found the press release announcing this program. Genesis gets WebBank to issue the card and charge the balance due to that card. Then Genesis buys the receivables on it (yes they own a new debt at almost no cost) and continues to collect on it.I have just about decided I am going to go after all 3 of them in court based only on principle. I have yet to decided if I want to hit them with a DV and play around just a bit first. Link to comment Share on other sites More sharing options...
Sultan Posted August 4, 2007 Report Share Posted August 4, 2007 Actually it is Genesis Financial Solutions, Inc collecting for Asset Acceptance on a debt that Asset never answered my DV on and was with a company that I had never had a CC with. An interesting twist in reading the fine print is that if you send the paperwork back to them it constitues an agreement to transfer the account to a new account, effectively restarting the SOL.It was certainly nice of them though to provide a postage paid envelope to stuff full of other junk mail I have around the house. I just have to get it 1/4 inch thick so that it costs them $1.37 in postage!Just fill it with blank printer paper till it's an inch think then tape the top, ROFL. Link to comment Share on other sites More sharing options...
Sultan Posted August 4, 2007 Report Share Posted August 4, 2007 My position on this, is that its a potential violation of 1692c( IE illegal communication with 3rd parties regarding a debt.A judge could rule either way on it too. Link to comment Share on other sites More sharing options...
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