It never ceases to amaze me just how far some collection agencies will go.
In December 2010, a Norfolk, Virginia man was sued by Portfolio Recovery Associates (0ne of the largest debt collectors on Wall Street) over a debt they purchased in 2009.
According to the company, the man had been making consistent $20 monthly payments to their agency for over a year and had been reporting the payments to the credit bureaus. Incredibly, the debtor had never made any payments nor had he made any arrangement for payments either verbally or in writing.
So why did Portfolio Recovery Associates report the fraudulent payments?
Simple…so they could prolong the Statute of Limitations. In essence, they were making it seem like the debtor had been paying them all along so they could continue to harass him for years on end.
As Ropay Asset Investors we believe you can do good and make money. All our debtors are treated with the dignity and respect they deserve. Sometimes bad things happen to good people. It’s our job to get their lives back on track.
Do Good and Make Money!
p.s. Here is the link to the entire incident: