- Report: #52780
Complaint Review: Capital Acquisitions & Management Company CAMCO - Rockford Illinois
-
Author Not Confirmed
Why?
Capital Acquisitions & Management Company CAMCO
P O Box 5087, Rockford, IL 61125 Rockford, 61125 Illinois, U.S.A.
Phone:
866-745-5420
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Capital Acquisitions & Management Company CAMCO Scare tactic, victimized many consumers, Rockford Illinois
I received a call on my answering machine from someone by the name "Mr. Starks". He stated that he was calling in regards to a claim filed against me and that I should call back (at the number I listed). He went on to say that it is very important that I contact him by Monday (April 14th) because he is filing the claim in court on Wed. afternoon. He continued, that he wanted to know if I had attorney information or if I want to settle out of court.
Skeptical as I am, I searched the phone# (866-745-5420) and came across this site. Good thing I did. After reading through some of these reports, it looks as though I may have avoided a confrontation that would not have been pleasant. Judging by the type of "claims" this company is making, the only thing I can come up with is an old credit card debt that was written off back around 1992 or 1993. Can anyone tell me the statute of limitations on a credit card debt in Illinois, and exactly what happens with a write-off? (I know when I applied for my home loan (1993) the loan officer was aware of the credit card write-off. So I am sure that it was written off no later than early 1993.
I'm not sure I understand what "re-aging" a debt is, but it sounds like I shouldn't contact this company. Can anyone give me some advice?
Thank you!
Jim
Southern, Il, Illinois
U.S.A.
Skeptical as I am, I searched the phone# (866-745-5420) and came across this site. Good thing I did. After reading through some of these reports, it looks as though I may have avoided a confrontation that would not have been pleasant. Judging by the type of "claims" this company is making, the only thing I can come up with is an old credit card debt that was written off back around 1992 or 1993. Can anyone tell me the statute of limitations on a credit card debt in Illinois, and exactly what happens with a write-off? (I know when I applied for my home loan (1993) the loan officer was aware of the credit card write-off. So I am sure that it was written off no later than early 1993.
I'm not sure I understand what "re-aging" a debt is, but it sounds like I shouldn't contact this company. Can anyone give me some advice?
Thank you!
Jim
Southern, Il, Illinois
U.S.A.
1 Updates & Rebuttals
Rodney
San Francisco,California,
U.S.A.
Good tips on how to proceed
#2Consumer Suggestion
Mon, April 14, 2003
Jim, Just read through these posts and you should find people in the same situation and suggestions on what to do. I can tell you if it is from 1993, it is well past the SOL. Here is a good website that has a lot of information, such as statute of limitations by state, validating the debt with sample letters, etc. http://www.creditinfocenter.com/ rebuild/debt_validation.shtml Basically, you can approach it in two ways. Either send them a certified letter asking them to validate the old debt and only to contact you in writing, not via the telephone. This gives them 30 days to prove the debt is valid and in that time they are not allowed to contact you until they provide the documents. They MUST show an agreement that bears the signature of the alleged debtor wherein he agreed to pay the creditor. If they do respond, I have been told it is just some signed statement that one of their staff has signed because they do not have any of the original documentation. Which is why you might want to try the second method. The second method will stop them in their tracks. Send a CEASE AND DISIST letter, certified, to their street address located on my post a few down from yours. You can find a copy of these sample letters on the web if you do a search. It basically states that under the Fair Debt Collection Practices Act, all communications must stop on debts that are over the statute of limitations. They only way they can respond is to sue, which they would have to again, validate the debt. The site above describes how to deal with that situation. Good luck and I hope this helps.
