Unifund Collection Agency

Unifund CCR Partners, an Ohio debt collection agency, has been purchasing second-hand debt since 1986 and is lead by owner David Rosenberg. Unifund boasts big name clients such as American Express and Citibank and has been known to be relentless in collection of debts from consumers. Unifund is one of the largest debt collection agencies in the country.

Unifund is said to pay between 4-10 cents per dollar of the debts face value with a recovery profit percentage of 150-200%. The company owner claims they do not strong-arm people into paying back their debts, use harassment or threats, or confiscate personal property – all of which are illegal. However, there have been many complaints lodged against Unifund, with the biggest allegation being that the company messes around with people’s credit reports. According to the federal Fair Credit Reporting Act, debts are required to be wiped off credit histories seven years after their delinquency.

There are several lawsuits that allege Unifund bought their credit card debt and refreshed delinquency dates of debtors by a year. The information was then provided to Experian, one of the big three credit reporting bureaus. The result of the credit history tampering lowered people’s credit ratings and made them vulnerable to unsavory debt collection tactics. Many claim they have been contacted by Unifund or even sued by the company for debts that have long since been charged off.

Currently, there are 127 complaints lodged against Unifund on the Better Business Bureau site. 114 of those complaints were regarding billing and collection issues. 112 of the complaints were resolved and subsequently closed. Unifund earned a grade of C from the Better Business Bureau website, which is interesting in light of the BBB’s propensity for rating collection agencies with very low scores.

To date, Unifund has been sued over 100 times for illegal debt collection strategies. The company has also been scrutinized by the Federal Trade Commission, who recently subpoenaed the Unifund books. The FTC continues to investigate. Attorney General Andrew Cuomo has also started an investigation after having complaints filed by consumers claiming harassment. There have also been many allegations made about fraudulent collection of debts that had been paid or settle years before. In some cases, consumers were asked to pay the wrong amounts of money.

In addition to the large income from the debt collection business, Rosenburg also has partners with celebrities like Jay-Z and Russell Simmons on several ventures.

RJM Acquisitions LLC

RJM Acquisitions

RJM Acquisitions LLC is a debt collections agency based in New York. Like most companies in this industry there are a number of angry consumer complaints found across the Internet and even dedicated sites set up to warn others of the trouble they are in as a result of their dealings with this company. However, there are also a few customers who report having a positive experience, although these are few and far between.

Since RJM Acquisitions is a collections company it operates like any other. It purchases bad debts for a fraction of what is owed and then they try their best to collect in full. There are several popular complaints that swirl around all these types of companies and RJM is no different in this regard. Some of the most frequent are as follows;

RJR Acquisitions has charged the customer for a debt they did not owe. There are several forum complaints on this subject matter. Customers claim they were contacted by RJR but they have absolutely no knowledge of the debt in question. Claims of fraud and false collection schemes are rampant.
RJR Acquisitions has also been accused of failing to provide the customer with proper information. The customers claim that when they request legitimate information from the company they are unwilling to supply it and instead tell them to contact their accountant or attorney for more details.
RJR Acquisitions has been accused of trying to get customers to pay on debts that were past the Statute of Limitations. Naturally these customers were very upset since the law protects them from such collection attempts and RJR Acquisitions according to their reports willfully tried to take advantage of them in case they were not familiar with what was standard practice.
RJR Acquisitions has reportedly teamed up with Capital One to offer debtors pre-approved credit cards to use to pay their current debt. This practice will almost certainly result in an additional financial burden on the debtor.
RJR Acquisitions is also not accredited by the Better Business Bureau. In addition to this it does not appear to be a member of any recognized debt collection associations. The practices of this company are therefore not regulated by the industry and this in itself should be cause for alarm.

The RJM Acquisitions website is under construction, but if you would like to reach them you can do so using the following contact information;

Mailing Address:

RJM Acquisitions LLC
Suite 224
575 Underhill Blvd
Syosset, NY 11791-3416

Phone Number: (800)656-8023

Fax Number: (516)714-1310

Phoenix Asset Acceptance

Phoenix Asset Acceptance, which trades under the name Asset Acceptance Capital Corp. AACC is a purchaser and collector of consumer debt. They opened their doors in Detroit in 1962 and over the past few decades the company has expanded to over 1700 associates, spread among 10 offices in 9 states. The last of these offices in its nationwide expansion program was in Phoenix Arizona in 2003.

Despite operating in the debt collection industry, which is mired by consumer complaints and allegations of malpractice and misinformation, Asset Acceptance Capital Corp. seems to place a high value on rising above questionable operations. There are a few reports of irate customers that can be found on forums across the Internet, but these must be balanced against the respectability and weight of some reputable associations.

Asset Acceptance Capital Corp. is an accredited member of the Better Business Bureau (BBB) and has maintained a B rating since 2003. This says that the company takes its complaints seriously and makes reasonable attempts to bring them to a resolution. They are also a member of the DBA International which is an organization that upholds a strict code of ethics and expects its member companies to do the same in order to be able to carry the DBA International emblem.

Asset Acceptance Capital Corp. is also a member of the Association of Credit Collection Professionals (ACA International). Similar to the DBA International, the ACA International acts as a resource for its member companies and expects them to adhere to a strict code of conduct. The company has actually re-printed these ethics on its website for all to see.

Asset Acceptance Capital Corp. has yet another trademark that sets them apart from others in the industry. They provide a list of links to help customers to advance their knowledge of identity theft and other personal finance topics that can be accessed straight from their website. Most of the links lead to the Federal Trade Commission website but there are a few that go to other useful pages as well.

Asset Acceptance is also publicly traded on the NASDAQ stock exchange, ticker symbol AACC. This provides yet another layer of consumer confidence in its operations because its actions have the potential to devastate its share price and by extension its profit figures.

Therefore, while there are a few reports of dissatisfied consumers, by and large the company appears to be a reputable member of the debt buying industry.

Oliphant Financial Corporation

Oliphant Financial Corporation is a debt collection and buying agency based in Sarasota Florida. It was established in 1992 so it has the benefit of more than two decades of experience in the credit industry.

The company recognizes that the expansion of credit services in all aspects of life is unavoidable. From service professionals such as doctors and accountants to credit card companies and utility bills, everyone is extending credit. Oliphant Financial Corporation sees this as an opportunity to step in and provide a service to these companies so they can focus on their main business.

One of the most striking things about Oliphant Financial is its A+ rating from the Better Business Bureau (BBB). Oliphant Financial has been accredited since 2007 and to achieve the highest possible rating from this agency means that the company must have passed all the standard checks exceedingly well. The BBB takes into account the billing and collection procedures and the number of complaints as well as the percentage of these complaints that were resolved within a respectable time frame.

To further compound this achievement Oliphant Financial also contributed to the development of a platform to facilitate the communication between debt buyers and debt sellers.

It is also difficult to come across any consumer complaints on Internet forums concerning Oliphant and this is very telling, considering it belongs to an industry within which this practice runs rampant. The fact that there are no irate claims or even dissatisfied remarks certainly speaks volumes about the level of customer service at the company.

Oliphant Financial also has a dedicated payment site which facilitates all its collections. These payments can be made via credit card, personal check, money gram, western union or bank wire. The site explicitly states that receipt of payment does not imply that any agreement has been entered into unless this was confirmed in writing.

If you would like to reach Oliphant Financial Corporation you can do so using the following information;

Mailing Address

Oliphant Financial Corporation
Attn: Customer Service
P.O. Box 2899
Sarasota, FL 34230

You can call them at any of the following numbers;

941.360.8990 Main Offices 9:00 AM to 5:30 PM (Eastern US)
941.556.1450 Acquisitions Department
941.360.8993 Facsimile
800.262.1999 Customer Account Service
888.632.5111 Account Marketing Sales
You can also send an email to the following addresses;

General Information: info@oliphantfinancial.com
Portfolio Sales: sales@oliphantfinancial.com
Attorneys: legal@oliphantfinancial.com
Agencies: agency@oliphantfinancial.com

Programs for Credit Card Debt

There is no limit to the reasons why people find themselves in debt. Personal emergencies, job loss, natural disasters, and medical expenses are common reasons that cause people to pick up the credit card to pay for things that they may not otherwise be able to afford.

For others using a credit card is a way of life and spending becomes an expensive habit that eventually leads to debt. Regardless of the cause of debt there comes a time that those who find themselves living with it need a way out.

Choosing the best program to relieve credit card debt requires some research. There are so many offers out that that claim to reduce and even eliminate credit card debt. The problem is that while many of these are valid offers many of them are scams.

Beware of Scams

Any program that offers services that seem too good to be true probably is too good to be true. Programs that promise some of the following things should be looked into very closely before entering in to a service agreement with them.

Immediate or automatic elimination of all debt.
No application or qualification necessary.
Programs claiming to be Government sponsored.
Claims that you do not own any debt.
Free services.
Requirement of money up front for services.
Offers that just seem too good to be true.

Creditability is as easy to spot as a scam when you know what to look for. Consumers who are looking for debt relief are often desperate for help. Those that are truly in the business to help consumers will not promise things they cannot deliver. There are a few common things that good programs will offer that will set them apart from those that are just looking to make some quick cash.

Reasonable expectations on debt reduction or elimination.
Time frames rather that promises to get rid of debt altogether
Testimonials by customers.
Information about how to verify the service.
A valid telephone numbers and names of contacts.
A list of criteria necessary for qualification for the program.
An overview of the services they offer.
General fee amounts for services.

There are almost as many programs that offer credit card debt relief as there are credit cards. The rise of the credit card caused the need for new programs and companies that could offer services that work to relieve card users from the burdens caused by debt relating to credit card use and abuse. Knowing how to tell the good programs from the scams will save you time and money in the long run.