Jump to content

Mann-Bracken Help & SB Question Also


Recommended Posts

Hello :)++

Debts(2) For Chase CC

Visa: Date Of Last Activity 8/27/07


CAs in order of contact:

Creditors Interchange, Buffalo, NY 10/07

Financial Asset Management, Atlanta,GA 3/08

Mann-Bracken, Atlanta, GA 6/08

MasterCard: Date Of Last Activity 8/27/07


CAs in order of contact:

National Enterprise Systems, Solon, OH 10/07

Academy Collection Service, Philadelphia, PA 3/08

Mann-Bracken, Atlanta, GA 6/08

Husband lost job in Jan. 2006 and we had to expand a fledgling business to a full time business to survive using my job income and CC to survive.

We contacted Chase when our CC rate rocketed to 30% (universal default they got paid... house payment was late) due to this about doubling our CC payments we slid into default and again contacted chase with no help from them at 6 month default they offered settlement of 30% of OD which we could not gather together in the time they allotted (30 days) but where told by chase if we made 1 payment on each account this would reset account and that would give us the 80-90 days we needed to gather the settlement amount.

We don't deny the debt we just need terms we can payback on w/out tanking ourselves.

They sent both to collections aprox. 45 days later.

When I contacted Chase they said no record of conversations w/ CSR nobody by that name works here. newbie lesson 1 get it in written format.

Chase would not take back debt and work with us.

Both accounts I've sent a debt settlement proposal Cert. w/ Return receipts to the first 2 CAs on both accounts that have contacted us.

Proposal 1st time around on both:

20% w/in 10 days of receipt of written signed agreement

30% over 4 months w/ receipt of written signed agreement

Full repayment w/ 2% interest over 48 months Visa/60 months MasterCard w/receipt of written signed agreement

Proposal 2nd time around on both:

15% w/in 10 days of receipt of written signed agreement

25% over 6 months w/ receipt of written signed agreement

45% over 12 months w/ receipt of written signed agreement

Full repayment w/ 2% interest over 48 months Visa/60 months MasterCard w/receipt of written signed agreement

CAs received Proposals via Return receipt info, never got a response otherwise.

Did not DV either account w/ 1st 2 CAs on either account just sent settlement proposals.

Enter Mann-Bracken read up on them (nasty slime it sounds like) 6/08 standard trying to collect debt may resort to arbitration letter, numerous phone calls have not talked with them. DV'd (using letter on this site) them today Certified Return Receipt.

What's my next step to cover us? Seen something about disputing w/ CRA?

Do we need to pull CRs?


Our business is growing slowly starting to get on top of things debt wise not great but better.

We are not LLC'd (just D/B/A) do we need to do that to protect what tiny bit of progress we have accumulated? I read that MB if they get a judgement will hunt down personal/small business banking info and empty said account(s) if they are not protected via LLC maybe even with LLC?

THANKS for Any help, suggestions, & moral support

Cheryl & Bryce

Link to comment
Share on other sites

I wish I could say taht I had never herad your story before. :(

I hope these are considered "pesonal" cc debts; if not, then the FDCPA does not apply.

Assuming they do qualify as personal (and it sounds as if they do from my first reading of your story) then starting the DV process when ever you are contacted by a CA is a good response and I think appropriate for you...at the very least, you have a right to know that the CA/JDB contacting you has the legal right to collect these debts and to collect in your state.

Ultimatley, however, I think you are going to have to settle these and given they are so new, probably for a good piece of change...I would certainly do so before they go to arbitratin (whicn you'll loose) and then a judgment and the rest.

I would say that going the LLC or incorporation route is likely a waste of time and money; so many "i's" and "t's" have to be dotted and crossed that most small businesses can't keep up with the requirements and ultimatley, the corporate veil gets pierced when a judgment holder is looking for assets.

Hope that helps some...I'm sure others will chime in as well. :)

Link to comment
Share on other sites

Once again, the nice folks from Mann Bracken. I am dealing with them now and have dealt with them in the past. Others here also have experience with the folks at MB.

First, do you know whether or not MB bought the debts from Chase or whether they are collecting for Chase? MB is both a collection agency and Junk debt buyer. As a CA, they get a percentage of what they collect and the original creditor will have a say in the settlement. As a JDB, the OC is out of the picture and MB will be in charge of any settlement. I still do not know what their bottom line is on settlement. My notes show that others have posted here and elsewhere that they have received the following offers from MB: 50% settlement offered after MB filed for arbitration; 75% settlement with no payment arrangements; MB offered to settle for 80% after they had received an arbitration award; and the best one is settlement for 50% (in writing) and in two payments.

I think you are making a mistake by offering to settle for 100% with payments. They want money now and will take a lot less if you can pay it now (yes I know the reason you defaulted is that you did not have the money).

The bottom line, in my opinion, is that MB looks at your credit report and decides how badly you are in debt. If you are way over your head and have lots of debts, they will leave you alone and go after someone else who looks more promising. But they at least try to get something out of you before giving up, which is what they are doing now. But this requires that you are deeply in debt and that you become a PITA and demonstrate that you are more trouble than you are worth. That means to start with you need to send them a DV letter asking for validation. If you don't, they will quickly send you to arbitration and get a decision against you.

If they are collecting for Chase, they will probably have access to the records to go after you and prove their case. If they bought the debt from Chase or the other JDB's, they very likely will not have the records to prove their case. In my past cases with them (which both went through Creditors Interchange first), MB had no proof of the debts and could not get it. Both of these were Chase chargeoffs that they had purchased. My current Chase account with them was not purchased by MB so they do not have any problem getting the actual statements so I am in trouble if they go to court.

They have left me alone because I am in so much debt and a judgement would be too much trouble and would be worthless to them and because I showed them I know my rights by sending them a DV. So they are now looking at easier targets.

In general, CA's do not want payments unless there are only a couple over a few months. Normally they will not take extended payments.

Keep reading here and asking questions. Your may want to search for posts by txtrouble who is also dealing with MB. And, he is also in limbo waiting for them to do something.

But remember they do sue and they are now taking a lot of cases to arbitration. Some of us are left alone and others are not. And they do have a reputation for filing arbitration and going forward without notifying the defendant. They realized that it is a lot easier to win a case if you don't give the other side notice. The first notice you may get is after they have won the arbitration and then gotten a the arbitration award reduced to a judgement. Your notice comes when your checks start bouncing and you realize they got a court order allowing them to take money out of your checking account.

Last point and then I will shut up (for now). Your inital impression was right - they are sleeze.

And you do need to read up on arbitration and how to handle it. A lot of people here will tell you to refuse the certifed mail that they may send you notifying you of arbitration. (I lied about the above being my last point).

Link to comment
Share on other sites

Also search for a recent post by zeeman66 who is dealing with MB. He got a whole lot of advice.

By sending them a DV, you are also giving them your current address so that if they try to act against you without giving you notice, you at least have proof they have your current address and could have given you notice. I have a real problem with them on their correspondence. They keep sending it to old addresses even though I always use my current address in my correspondence with them and I have asked them to use only my current address.

I suspect from your original comments that you have already visited Bud Hibbs website, but if you haven't, be sure to go there and read up on his comments about MB. And read the consumer comments on them.

By now you have discovered that when I start thinking, I never shut up.

Link to comment
Share on other sites

  • 1 month later...

Hi Guys :)++

Thanks for the replies wasn't aware you all had responded until now so sorry for the delay in response.....

Sent the DV and recieved the return reciepts back and more than 30 days have past without any contact from them in any form.

So what's my next step? I seen information saying as follows on this site:


Wait 30 days to hear back from the collection agency. Most likely they will not respond or they will respond saying that they received your letter.

Only a letter which includes:

Proof that the collection company owns the debt/or has been assigned the debt, Complete payment history, starting with the original creditor, and

Copy of the original signed loan agreement or credit card application

is satisfactory.

If they haven't sent you satisfactory proof, send a copy of your receipt for your registered mail, a copy of the first letter you sent and a statement that they have not complied with the FDCPA and are now in violation of the Act.

Tell them they need to immediately remove the collection listing from your credit report or you are going to file a lawsuit because they are in violation of the FDCPA, section 809 (B).

Wait 15-20 days to hear back after this second letter to the collection agency. They will either remove it or not respond.

So would this be what I need to pursue now? A letter that demands they respond w/ in 15 days or they have to null and void the debt for lack of information/response?

Also I seen you need to challenge?/put a hold on the reporting of the debt? with the CRAs? How do I go about doing this?

Quickie answers to responses:

Yes these are personal debts and I guess the FDCPA would apply here?

The debts have been sold off to JDBs long ago MB is the 4th CA to have control of these debts.

I've got my personal CCs & debt payments under control and have a minor increase in my CR but it's still a dismal 512.

My husband's CR with late payments and such is below 500 I'd say (haven't pulled his)

So if they go by CRs to decide if they are going to pursue this they may just throw it out the window (yeah riiiiight).

suggestions? opinons? helllp :confused: LOL

Will be checking back here instead of just my email notices this time, silly email black holes.

Thanks All!

Cheryl & Bryce

Link to comment
Share on other sites

All we have to offer is advice based on our own experience. Having had three Chase accounts with MB, I have a lot of experience. They have not sued me nor taken me to arbitration. They have sued others and taken them to arbitration. I still think the difference is that I look like I have no assets and they want to spend their time on cases they have a better chance at collecting.

On mine, when MB failed to answer the DV, I just sat back and waited for something to happen. Nothing happened. So the cases just sit there (two were sent to another CA). But other people have sent a DV to them and have been sued or sent to arbitration. It is a crap shoot. Based on my experience, I would say to just sit back and see what happens. Try to accumulate some money to eventually make a settlement offer. But, they do not want payments over a period of time, they want the money now. If you do put some money away, make sure it is somewhere where MB cannot find it. If they suspect you have money, they may very well sue you or go to arbitration without notifying you and wipe out your bank account.

If you are offered a settlement by them, please let us know. A lot of us still want to know the bottom line for a MB settlement.

Link to comment
Share on other sites

When we dealt with MB (via phone, this was before I educated myself) they were collecting for Midland, we offered them around 40%, they wanted 80%. They said "We'll sue you", I said "Go ahead". They were all flabbergasted and said "You're willing to go to court on this", I said "I've got nothing to lose" (I didn't at that exact moment).

They called back a few days later and took the 40% offer.

Offer what you can offer, if they think they can't get anything more they may take your offer.

I will add that the original debt, though I originally disputed the amount, had been adequately validated by Midland, as the original creditor happened to provide them with good records. If it hadn't been, I wouldn't have settled.

Link to comment
Share on other sites

This topic is now closed to further replies.

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.