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Re: Cambece/Collect America


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Posted by Con America (64.235.243.92) on May 25, 2004 at 19:16:31:

In Reply to: Cambece/Collect America posted by Ted on May 25, 2004 at 16:29:50:

Here’s how the Collect America con-job works.

Collect America is a garbage debt buying collection agency. Yes, the garbage is quite fresh and not the rancid trash that other garbage collectors work, but make no mistake, it is garbage just the same. Fresh garbage accounts sell for 8 to 10 cents on the dollar right at charge-off. You might wonder why your creditor sold your $11,000 account for only $1000. The reason is they figured there was no way they could collect from you. Judgments in Florida aren’t worth the paper they’re printed on. Ask a few notorious Florida residents what they think of judgments (think O.J) Also, on huge accounts, there is always bankruptcy rendering a law suit moot.

Anyway, the con is that Collect America has dozens of “attorneys” scattered around the country. Actually, they are collection agencies with a single attorney on the name plate, and he doesn’t sue anyone. There are a hundred collectors in the back room calling all around the country threatening that if you don’t pay, that attorney so and so has the paperwork to sue you right away. That’s the con. Attorney so and so doesn’t sue anyone anywhere. Part of the con is also that since these are such fresh charge offs, you don’t even know that you aren’t dealing with your Original Creditor anymore. People think they’ve got an attorney from the bank on their back when it is a 9 cents on the dollar debt buying collection agency. In your case, Cambece is a Massachusetts lawyer only licensed to practice law in Massachusetts, so he can’t sue you in Florida anyway. I’ve never read of anyone anywhere ever being sued by Collect America.

Bud Hibbs has good links on the Collect America con, and Cambece.

http://www.budhibbs.com/budhibbs/agencydetails.asp?ID=39

http://www.budhibbs.com/budhibbs/agencydetails.asp?ID=32



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