#2UPDATE EX-employee responds
Wed, February 12, 2003
I am a former employee with Homeq Servicing Corporation. You are correct in that Homeq does call its customers the day after the due date to collect on the payments which are due. That is quite simple to understand because you are not paying as your contract states. Your point about the Fair Debt Act is valid, although you mistate many of the points. Yes, 2 calls is the maximum per day, but that means two CONTACTS. When Homeq calls your home and recieves an answering machine, or the homeowner is not available, that does not count as a contact. Homeq also does not block their number any longer, and should show up on all caller ID boxes (I know this because I have a Homeq loan, and was called for a past due payment that was lost in the mail last month). While your points are valid for a 3rd party collections agency, Homeq is actually under no obligation to take these steps on loans in which they own, such as yours. A loan which is owned by the company collecting the money, has no obligation to follow the Fair Debt Collections act. They have a seperate set of rules, which are not as strict. Homeq follows the FDC act, simply because it services loans of their own as well as for other companies, and to avoid complications, it treats all accounts the same. While I do understand your frusteration with the calls (I also feel that Homeq should wait a few days after the payment due date for a little breathing room), the truth of the matter is that you have a contract with a specific due date that you are expected to uphold. I am currently worknig as a lawyer in OH, and will advise you that bringing a lawsuit against Homeq is pointless. I personally have witnessed the company take every step possible to follow the FDCPA guidlines. For those unaware, most of Homeq's loans are high interest due to servicing customers with sub-par credit records. This also explains why the agressive collection activity is taken. No offense, but simply put...these are high risk loans that have to be closely watched due to past history. I hope this has helped.