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Anyone has heard of Rancho Credit Management in Encinitas, CA?
I have received a letter that I owe quite large amount to them, with original creditor indicated.
I straight to Better Business Bureau site, but could not locate them. They even do not have website, etc.
First I need a verification of this debt.
Then, I need to know if this company is credible, I mean a good one to deal with.
debt help
Did you call the number on the letter? If you did, did you tell them you need validation for this debt? I would call the Original Creditor, too...just so you KNOW which CA sold your debt to.
I would send a DV letter via USPS cert mail to the company that contacted you. I would also contact the OC they listed and see what information they have on the debt, if they still own it etc. I would also find out if it is already on your CR. Dont forget to find out how old the debt is and if it is past the SOL in your state.
Send them a debt validation letter through certified mail within 30 days of your receipt of the letter from them. You can also check your credit report if Rancho CM exist in the report or not. Until and unless Rancho CM validates your debt you are not responsible for it. However if they validate the debt try to come for a Pay for deletion agreement with them.
Rancho Credit Management also known as Ranco Equities, The Trading Post/ Golden Arch Cas!no, Fidelity Settlement Group, and Card Services is a legitimate company; it's involved in debt collection, debt settlement, interstate tobacco sales, and on-line gambling.
The owner of the company is Richard Burns, he owns about 95% . It's based out of Encinitas, in the 700 building of Gardenview Ct. The debt collection division of the company deals mainly with out of statute debt, most of it is long out of statute.
The debt collectors working for this company habitually mislead individuals, in some cases lie out-right. It's only a matter of time before they're slapped with a law-suit. Always ask them what the write-off date for the debt is.
They will contact relatives, or associates, even if they've already made contact with you, which is completely illegal. They will tell you that they're in the pre-legal department, and wish to settle the matter before it goes any further....whatever that's supposed to mean.
If it's out of stat, it can't go any further, they have no legal standing. THEY DON'T HAVE A LEGAL DEPARTMENT, AND THEY CERTAINLY DON'T HAVE A "PRE-LEGAL" ANYTHING.
As I said, though, it is a legitimate company, and they're certainly a collection agency, but they like to call themselves a finance company. They just want to get you to sign a promissory note, so that the out of stat debt will be in-stat, once again. Then they can take you to court for the full amount of the debt! Want to be liable for four more years?[/b]
Sounds like you are getting solme pretty good advice here. Do youbelieve this debt to be a real one. I don't think you mentioed it but real or not you need to start with the debt validation.
As you were told here debt validation is the key to this one, you can access a sample letter on this site.
I never heard of them, but new collection agencies pop up everyday, so as everyone else here as stated, validate, validate, validate.
True, there are new ones everyday, amazing, must be an easy industry to get into, huh?
credit
I never heard of them, either. However.....I just had a 'company' IM me and tell me they were "foremost the best credit repair company there was." 'Repairmycredit (dot( com who they SAY they are. According to them they have "only 14 complaints since 2002." Crazy, I think. No 'signature' attached to this one.
Personally, I feel the best credit repair site there is would be the FTC site with the FCRA and FDCPA attached.
Yep, they are like the bible of credit repair.
you got that right
Its always good to have a place to go that helps you figure these things out. I am sure that we all know just how confusing and scary the credit world is when you get behind. That is why it is important to help other people to these sites, give them a hand when needing questions ask or just letting them know they are not alone. GN I like the way you put it "bible" really works.
yes, they list all the laws and rules there.
Looks like they are in for a visit from me. I like to be up to date on these things.
I think that you will find it very informational fireyone, but you may have questions after you are done. As with any rules and law page, there is gray area, depends on our level of understanding the laws and how they are written.
You can always come here for clarification though.
So in other words I am pretty much a goner right?
No, you can go there and read up on things and then come back here and get all your questions answered hopefully.
Financial Destinations Inc.
I am working with a company that is rapidly restoring my credit and improving my fico score dramatically. Want to find out more?
Sure don't we all as long as it isn't spam. One thing is there is really alot you can do yourself to restore your own credit and leave the money in your pocket instead of someone elses. You just have to be prepared to do a little legwork and educate yourself on how the credit system works.
In this world if you are dealing with credit issues and everything it affects these days you have to stay educated on it or be taken advantage of by some scrupulous collector who just assumes that you are an ignort consumer who don't know jack, right?
Right! Education was the key word there Good Natured. You can not give yourself a better foot forward without it. Turning a blind eye in the credit world definately spells disaster, wether you are establishing it or digging yourself out. I think more need to be done by the people who sets the laws for credit collection but more so in the reporting of fraudulent and harassing collectors. People tend to think that their only an army of one but if each and every person found their voice the collection world would and could change.
True, I could not have said it better myself.
Thats a surprise cause usually it is the other way around. I am really a big advocate of any and all types of education wether it be reading a book, internet, schooling, anything that teaches you something is never a loss.