topic Re: IQ Data Collection in Rebuilding Your Credit

IQ Data Collection

Anonymous — Sun, 19 Jan 2020 01:40:40 GMT

Long story short, I have a collection from IQ Data Collection from an apartment I broke the lease on. I had bought a new house but unfortunately, I was required to provide thousands of dollars more than expected so I couldn't pay the balance before I left. Planned to pay it this month but apartment sent to collection exactly on day 30.

So the issue is got two letters from IQ. The initial one dated Jan 3 stated the principal balance being $3400 (in line with what I expected the balance to be) with $17 in interest added on at 006.00 percent per annum. Second letter dated Jan 10 stated principal was $4550 and interest $28 still interest rate stated is 006.00 percent per annum. This doesn't make sense at all and comes off as predatory collection activity. The fact that the balance jumped over $1000 in a matter of 7 days screams shady. While I don't have a problem paying what I owe, I am concerned that this collection agency will keep inflating the principal balance that doesn't make sense.

Any advice on what next steps should be?

I live in Texas if that helps and debt is officially 44 days old.

Re: IQ Data Collection

silver_idle — Sun, 19 Jan 2020 02:27:16 GMT

@Anonymous wrote:
Long story short, I have a collection from IQ Data Collection from an apartment I broke the lease on. I had bought a new house but unfortunately, I was required to provide thousands of dollars more than expected so I couldn't pay the balance before I left. Planned to pay it this month but apartment sent to collection exactly on day 30.

So the issue is got two letters from IQ. The initial one dated Jan 3 stated the principal balance being $3400 (in line with what I expected the balance to be) with $17 in interest added on at 006.00 percent per annum. Second letter dated Jan 10 stated principal was $4550 and interest $28 still interest rate stated is 006.00 percent per annum. This doesn't make sense at all and comes off as predatory collection activity. The fact that the balance jumped over $1000 in a matter of 7 days screams shady. While I don't have a problem paying what I owe, I am concerned that this collection agency will keep inflating the principal balance that doesn't make sense.

Any advice on what next steps should be?

I live in Texas if that helps and debt is officially 44 days old.

For a second I thought that said "44 years old" lol. If the debt havent been sold, i would suggest contacting the apartment asking them to recall the debt for a PIF. If it have been sold or the apartment keeps referring to the CA, do a DV with the CA because if you have a letter with one amount and then get another letter with a bigger amount, then something is wrong there and should be investigated. I would believe that the apartment would recall the collection if it havent been sold so I would try that first.

Re: IQ Data Collection

Anonymous — Sun, 19 Jan 2020 02:48:00 GMT

The apartment complex is open tomorrow. I will stop by and ask if they have sold the debt and if it can be recalled. It just seems real suspicious on the balances. I'm keeping the letters as proof of the change as well as I have the monthly statement from the apartment on what i owed.

Re: IQ Data Collection

KangiCosmos — Sat, 29 Aug 2020 07:26:39 GMT

Please keep us updated with I.Q Data Collection. There are soooo many stories about them on the web.

Re: IQ Data Collection

Anonymous — Sat, 29 Aug 2020 17:53:00 GMT

@Anonymous wrote:
Long story short, I have a collection from IQ Data Collection from an apartment I broke the lease on. I had bought a new house but unfortunately, I was required to provide thousands of dollars more than expected so I couldn't pay the balance before I left. Planned to pay it this month but apartment sent to collection exactly on day 30.

So the issue is got two letters from IQ. The initial one dated Jan 3 stated the principal balance being $3400 (in line with what I expected the balance to be) with $17 in interest added on at 006.00 percent per annum. Second letter dated Jan 10 stated principal was $4550 and interest $28 still interest rate stated is 006.00 percent per annum. This doesn't make sense at all and comes off as predatory collection activity. The fact that the balance jumped over $1000 in a matter of 7 days screams shady. While I don't have a problem paying what I owe, I am concerned that this collection agency will keep inflating the principal balance that doesn't make sense.

Any advice on what next steps should be?

I live in Texas if that helps and debt is officially 44 days old.

Look at your lease with the Landord. What does it say in the DEFAULT section about them adding "collection costs" and "interest"? If it is silent about either, then I would immediately file a Fair Debt Collection Practices suit against the Collection Agency for the violation of FDCPA Section 1692f(1) (15 USC 1692f (1)) which reads:

A debt collector may not use unfair or unconscionable means to collect or attempt to collect any debt. Without limiting the general application of the foregoing, the following conduct is a violation of this section:

(1)

The collection of any amount (including any interest, fee, charge, or expense incidental to the principal obligation) unless such amount is expressly authorized by the agreement creating the debt or permitted by law.

This prohibition applies to both the collection costs and the interest if the original lease does not specifically permit them charging you each of those. Demand your $1,000 Statutory Damages pursuant to FDCPA Section 1692k(a)(2)(a).

I have found long ago that Collection Agencies tend to be slimy and dishionest in their dealings with consumers, and collection agencies representing landlords tend to be the slimiest of the slimy. Keep in mind that FDCOPA is a "strict Liability" statute, meaning un-doing the violation does not make the lawsuit go away. Getting sued may get the CA to do any or all of the following:

1 - send the case back to the landlord

2 - Pay you your $1,000 Statutory Damages

3 - Offer a "Mutual Walkaway - they give up their claim against you if you give up your claim against them

or any combination of the above. Keep in mind that suing them for $1,000 for a FDCPA violation takes all the profit away from the Collection Agency, and reminds them that if they violate FDCPA again in any way, they can expect another $1,000 suit to be filed against them. Sometimes, in dealing with dbet collectors, the best defense is a strong offense. Also keep in mind that Texas has no wage garnishment law, so attaching your paycheck is not part of their arsenal of weapons. The collection Statute for Judgments in Texas is 20 years, and a Judgment can be renewed for another 20 year term if it has not been paid within the Statutory period, so you definitely want to stop them in their tracks as soon as possible.

Re: IQ Data Collection

KangiCosmos — Sat, 29 Aug 2020 18:00:23 GMT

I lived in AZ at the time. Thank you for the detailed reply.

Re: IQ Data Collection

Anonymous — Sat, 29 Aug 2020 18:03:10 GMT

@KangiCosmos wrote:
I lived in AZ at the time. Thank you for the detailed reply.

Makes no difference - you live in TX now.

Re: IQ Data Collection

Anonymous — Fri, 16 Jul 2021 13:04:30 GMT

I'm not sure if you're still having issues, but to shed some light on apartment collections. The apartment is not a debt collector so they can not collect on any outstanding sums and it always immediately gets sent to a company that can. They usually don't have the staff to make the calls, send letters and/or chase people down for that sort of thing. Second, as another poster said, the interest is set by the lease. I also have a collection by IQ Data with interest accruing and had to check my lease and it's definitely in there in my case. So they are adding interest pursuant to the lease. So I would make sure that's the case for you. Obviously, if you have no such provision, then debt collectors can't just add it willy nilly - that's def illegal. And if there's any funny business with the amount being added beyond what's required by the lease, you can challenge them on that of course.