If Collect America has contacted you, they believe that you have a debt to pay.
And whether the credit debt they claim you owe is legitimate or not they will work hard to convince you to pay the amount in full.
With sixteen years of experience this company has become very good at what it does.
What is Collect America?Based out of Denver, Colorado, this collection agency, also recently known as Square Two Financial, specializes in unpaid consumer debt.
Like any collection agency, they purchase unpaid accounts from original creditors (i.e. your credit card company) and then spend countless hours hounding consumers until they pay. They will utilize any means in their power to contact you, whether via phone, mail, or even email.
What do they Want?This collection agency makes its money by charging consumers more than the original amount that they owed on a bill.
This is sometimes done under the guise of interest and in other cases additional amounts are simply tacked on to the claimed debt. While these practices are certainly questionable, the agency tends to have success convincing people to pay the excessive amounts.
Its agents have become adept in the art of pressuring people into handing over their money.
Do I Have to Pay?The biggest mistake you can make when dealing with a collection agency is to simply hand over your money without question. This is exactly what the agency wants you to do.
Remember that you are an American citizen, and you have rights. If you believe that you are being cheated or threatened by an agency you do not have to suffer in silence. There are laws in place to protect you against collection agency fraud. The Fair Debt Collection Practices Act was created for this very purpose.
Next came the Consumer Credit Protection Act. These laws give you as a consumer the freedom to question any amount of money that a collection agency claims you owe.
Do not allow any company to bully you. Write to them, state your understanding of the law, and demand full disclosure of any and all claims they have against you. Do not pay until you are convinced that the claims are accurate.
While you are certainly responsible for your bills, you should never have to pay more credit debt than what you legitimately owe.
If Collect America is pounding down your door, you should take a look at the resources below for help.
Learn how many people just like you got this company off their backs!
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Tax DebtTax debt is not something that you should play around with. Learn how you can pay it off.
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