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Missouri Attorney General sues Portfolio Recovery Associates for FRAUD

Too cool!

My published complaint: http://credit-reporting-collection-ftc-complaints.info/category/portfolio-recovery-associates/

Of course the FTC did NOTHING.

But apparently the MN AG contacted Portfolio and while I haven’t even had time to update yet, they also deleted the inquiry.  Here’s the MO press release:

August 18, 2009

Attorney General Koster takes action against fraudulent debt collectors--Koster says businesses tried to collect debts people didn’t owe--
St. Louis, Mo. - Attorney General Chris Koster today filed suit against two debt collection companies that are operating scams to collect debts from citizens who do not owe the money.

Koster filed law suits in St. Louis against Portfolio Recovery Associates, a public company based in Virginia, and Professional Debt Management located in Kansas City.

Koster said Portfolio buys old and bankruptcy-discharged debt, often from another bad debt buyer, and then tries to collect, sometimes through court action. He said the company often is attempting to collect on accounts that are already paid or have been discharged in bankruptcy; sometimes they try to collect from the wrong consumer or for the wrong amounts. He said the company has threatened to garnish consumers’ social security checks, which they have no authority to do, and has refused to provide consumers with proof that the debt is valid.

Koster said Professional Debt Management uses scare tactics, leaving messages on consumers’ phones that there is an emergency. He said that like Portfolio, they attempt to collect on accounts already paid or from the wrong party.

“The Attorney General’s office intends to take aggressive action to protect Missouri consumers,” Koster said. “I am asking the court to issue a permanent injunction prohibiting these companies from violating consumer protection laws and to order that they provide full restitution to the people they have harmed.”

Koster also is asking that the court impose monetary penalties and require the companies to pay all court costs.

The feds so totally sold out.

It’s up to the states to protect their citizens.  Unfortunately, that will come at a cost much greater than if the FTC did its job and protected consumers nationwide.

In the InsideARM article about the MO suit Portfolio claims to have a “good relationship” with the MO AG and they’re complaining about no notice of the lawsuit.  If you read my complaint, you can see that they IGNORE communications even from me and I’m known to publish my collection experiences.

And exactly WHY should they have received advance notice?

So they can resolve the complaints with the AG and CONTINUE to screw people?

That’s exactly what usually happens.  Long-time readers might recall my suit against American Agencies in 2003, their dismissal based on PERJURY by Experian’s Kimberly Hughes and the FTC investigation.  Of course the FTC did NOTHING whatsoever to stop their illegal collection practices and as a result, I keep getting reader complaints about American Agencies. 

American Agencies recently even ignored a cease and desist mailed certified and continually threatens and harasses people for OLD debts that are completely undocumented and often fraudulent.

Thanks FTC!