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Posted by Paul ( on April 26, 2004 at 19:41:23:

In Reply to: MBNA posted by kareninillinois on April 26, 2004 at 15:40:00:

Lake Cook Partners

“Such a suit was brought in federal court in New Jersey against MRS Associates, debt collectors for a company going by the name of Lake Cook Partners. Lake Cook engages in, what is known in the business as, "bottom feeding." Bottom feeding is a term used to mean the acquisition of "dead" or written off debts. Lake Cook purchases the debts from credit card companies (and perhaps other companies) for pennies on the dollar. Lake Cook then uses MRS Associates to make a debtor's life a living hell.””


Hilco Receivables

“NORTHBROOK, IL - Hilco Receivables, LLC, a leading purchaser and servicer of non-performing and under-performing accounts receivable portfolios, today announced the opening of a 20,000 square foot collection call center. "We are excited about the prospects for our new call center," said Bruce Passen. "It will help us maintain the rapid growth we have experienced at Hilco Receivables since the company was founded in June 2000." Passen noted that in just the past two years, Hilco Receivables has acquired more than $2 billion in receivables.”

Lake Cook bought your account from MBNA for pennies on the dollar, then transferred it to sister company Hilco. Creditors Interchange is just their contingency fee collector. As was stated, refuse arbitration. MBNA no longer has anything to do with your account.

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