totally confused-investment company acting as CA

[guiness56]

Seems to me that what they are doing would be illegal.  Reporting to the CRA as a CA then turning around and telling you that they are debt purchasers and outsource their accounts. 

They are trying not to have to play by the rules.  Same thing with factoring companies.  They report that way to try to get around the FCDPA. 

I would file a complaint with your AG, the BBB and the AG from the state they are in.  Also, complain with the FTC.

[Anonymous]

Should I contact a lawyer and sue for the way they are reporting or just file a complaint with the agencies you told me to file with? Or do both? Thanks!

[guiness56]

For now I would just file complaints and see what happens.  They told you they outsource their accounts for collection.  So who do they say is collecting this debt if not them?

[Anonymous]

They did not say any name. What I typed was the exact letter that I received from them. I thought it was very strange because we never received any phone calls or mail from them until now. It was fond after pulling a cr. And here is how it is listed on the cr:

Platinum Capital Investment #xxxx

Loan Type: Factoring company account

Remarks: Placed for collection

Date placed for collection: 04/2007

Pay status: Collection account

Account type: open account

Balance: 513.00

Date updated: 9/2008

Original amount: 513.00

OC First Bank Delaware TEST

Past due: 513.00

Date Closed: 9/2008

So since their letter says that they are not a 3rd party debt collector then why are they on the CR? Everytime I think I am starting to understand all of this info, I get confused AGAIN...lol Thanks for helping me!

Message Edited by bearcat59 on 09-19-2008 09:10 PM

[Anonymous]

They are not the first CA to pull this-

RJM is doing the same thing here in AZ.

They still have to adhere to FDCPA - but are treating themselves as an OC for state laws-  

[5oClockSomewhere]

I know I'm posting to an old thread, but I was researching Platinum Capital Investments and found that this thread sort of outlines the background of my own issue.

Platinum Capital Investments is reporting on DH CR.  He had also been getting phone calls from a CA in our state by the name of Phillips and Burns.  I DV'd Platinum Capital and their (pretty crappy) response was the balance and to contact P & B if I had further questions.  I then sent a C & D letter to P & B because they were calling at all hours.

I sent a PFD for the FULL amount to Platinum Capital, never heard anything back.  I sent another one about a week ago copying P & B, still haven't heard anything.  I want to get the account deleted, and will pay in full, but I don't want to run into any issue where I pay P & B and they don't do diddley about deleting it because they're not the one's reporting it.

Any thoughts on what I could do to get a reponse from anyone?  I never thought trying to give someone $1,000 could be so hard.