Collection Debt Elimination, Credit Restoration and Wealth Creation

One of our clients received a letter from one of the most well known JDB’s in the land of collection debt. There are certain names that make you cringe.

We have a GREAT result to share today about this debt collector who is notorious for bad phone behavior and scare tactics.

The letter reads:

“Thank you for your inquiry regarding the above referenced account. Please be advised that this account is CLOSED IN OUR OFFICE.”

They could not send any documentation. No validation of debt. AND WHY COULD THEY NOT VALIDATE THIS ACCOUNT !!! ???

We have never seen a letter such as this. It is a THRILL for us to read. ACCOUNT CLOSED from a debt collector!!!

This account took 60 days to eliminate because it was sent to 2 collectors back to back. This is common for debt collectors after you write the first VOD. The first collection agency cannot validate so they sell it again to a second collection agency. The consumer needs to write a 2nd letter to the new debt collector asking for VOD again. The process for writing to a second collector for the same account is another VOD letter with somewhat different wording. Basically it is another VOD letter and referring to the first collector who did not validate previously. Do not ignore the new letter. Take action and send that VOD.

When we see a letter in print that the account is closed, it makes this company grin and tells us that what we do at Next Level Credit is a great work. The bully can’t take your lunch money anymore. However, there is a 1% chance that it will not work and you can be sued by a debt collector. (more later-stay tuned)

We work on the 99% of course!!!

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Which came first the chicken or the egg? Hmmm.
Which came first money or debt? Hmmm.

Or is there any money OR only debt?

Grab some popcorn and watch this 45 minute video and be enlightened how money was established in this world.
You will be fascinated in a strange way if you were not aware of how banks operate and the purpose behind the institutions.

Money is a tool. Money is power. Money can help many people if used in an ethical manner. Money is not evil. However, the love of money is the root of evil.

This society is changing rapidly on a daily basis. No one, not even the experts, can predict the next day of how the economy will be. All you can do is your plan and what is best for you and your family.

There is no better time to be owning a business in America. The mortgage industry failure, rising (now lowering) fuel prices, high unemployment rates…

Right now millions of Americans are actively searching for a way to protect their families from this country’s financial chaos — that’s why the home-based business industry is booming; it’s a winning solution for people who want to secure their financial future.

TALK BACK TO US HERE. WHAT ARE YOUR HOPES FOR YOUR FUTURE?

• Are you ready to put the wheels in motion to start your own business?
• If not, is your mindset holding you back from making a change?

We want to hear your thoughts. Talk to us - let us know what is on your mind in a comment below.


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Here is a true example of a debt collection letter. It is termed a dunning letter. This letter shows another possible scam when a JDB (junk debt buyer) owns your account. Actually two scams: #1 Apex Financial Management, LLC is the wholly-owned CA (collection agency) of Hilco Receivables, JDB. However, one might think that Apex is an internal accounts receivables division of Hilco. Not a CA, which they are. There is no “This communication is from a debt collector.” statement (no, it’s NOT on the back!) In fact, nothing says they are a CA at all.

Another, and more critical one (scam) is the way the dunning letter is presented. #2 It looks somewhat like an account statement, settlement offer notwithstanding, complete with payment stub. The only thing missing is a statement of the interest rate and periodic interest amount. In this case, since the balance has not increased since the original dunning letter (which was, indeed, one), they could very well argue that the information is not necessary. (Some go even further and won’t include a settlement offer, but a full-fledged statement of account.)

That may indicate they are trying to establish an account stated, which CAN, if it’s not objected to in a timely fashion, actually make you responsible for the alleged debt. Or, make it look like you are being “offered” an “opportunity” to settle a delinquent account with an OC. This is made to look as an account. It is a collection account for a JDB. (this sample is taken from debtorboards.com)

If you were to receive this in the mail, you would write a debt validation (see sample on this site) as soon as possible. 

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Now more than ever we want to wake you up and tell you to take a long look around you. It is changing every day. Wake up to the change and take advantage of the timing. Take steps to eliminate your collection debt. Get rid of the debt collectors. Change your mindset in the process. Debt freedom. Commence with your own business. Look for the silver lining in this shaky economy.

Let’s go back 50 years ago. Let’s get back to basics.

Give us one reason why you should NOT have your own business?

Our top three reasons!!!

8. It’s a challenge that’s hard to refuse.

9. Tax shelter.

10. Cash is king!

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ps. come back to read more about tricks that debt collectors use to get your money

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We recently had the opportunity to watch “MAXED OUT” on one of the cable channels the other night. We want to comment on one particular point that was mentioned in the documentary. MBNA and the bankruptcy law. Although there are many points to expound on, we feel that this one particular point at this time is very important due to where we are in this economy.

Next Level Unlimited is not going to write about politics and the elections. However, we will write about the parties involvement with the credit cards and collection debt industry on both sides. We are here to write about hope and moving forward with wealth. We are here to empower the consumer with their rights on fighting debt collectors. Our crusade is to fight the corruption in the collection industry.

In “MAXED OUT” there is a part about the bankruptcy reform act of 2005. This was the act that changed the requirements for consumers to declare bankruptcy. We did some research about these consumer credit hearings in 2005 and here is what we found.

“So what does the bill do?  It makes it harder for average people to file for bankruptcy protection; it makes it easier for landlords to evict a bankrupt tenant; it endangers child-support payments by giving a wider array of creditors a shot at post-bankruptcy income; it allows millionaires to shield an unlimited amount of equity in homes and asset-protection trusts; it makes it more difficult for small businesses to reorganize while opening new loopholes for the Enrons of the world; it allows creditors to provide misleading information; and it does nothing to rein in lending abuses that frequently turn manageable debt into unmanageable crises. Even in failure, ordinary Americans do not get a level playing field. ”

The government made it more difficult for consumers to get out of their financial hardship situation. When this act was put in effect in 2005, it ensured that the consumer could not declare bankruptcy as easy as previous years. The consumer would remain in dire straits with not a lot of options if any. Next Level Credit does agree with bankruptcy as an option depending on your financial situation. The law is in place for that reason. If it was not an option for our consumers why have bankruptcy options? This law will also keep the consumer in severe credit card debt. Late charges, interest and over the limit fees and on is huge profit for the credit card industry. It is basically the pulse of profit.

Here are three disgusting shockers:
shock number one:
MBNA credit card giant wrote (most of it) and funded the bankruptcy reform act in 2005. Funded! Funded?

“The president, well aware that credit card giant MBNA is one of the Republican Party’s largest donors, has promised to sign the bill as soon as someone hands him a pen. ”

shock number two: MBNA funded the Bush campaign. Funded! Funded?

shock number three: MBNA funded the Joe Biden campaign Funded! Funded?

MBNA donated more than $200,000 to his campaigns. The Delaware-based company gave a job to Mr. Biden’s son Hunter; flew Senator Biden and his wife to the Maine coast, where Mr. Biden spoke at a company retreat; and its former chief executive, Charles M. Cawley, donated at least $22,500 to a nonprofit breast cancer fund started by Jill Biden. (NYT Oct 1, 2008)

For the record, Biden’s home state (Delaware) famously holds the incorporation papers of large credit card and financial services companies. He voted for the final version of the bill which was cleverly titled the “Bankruptcy Abuse Prevention and Consumer Protection Act of 2005,” but it wasn’t aimed at preventing abuse or protecting consumers, and everyone knew it. (Huffingtonpost.com Aug 23, 2008)

Does this make your blood boil and your jaw drop to the floor?

Why would MBNA fund these campaigns? You figure it out. We welcome your comments here.

You can fight back! Contact government and tell them how you feel about this. Both parties are sleeping with the enemy.

The financial services industry began seeking relief from Congress in the mid-1990s from an increase in bankruptcies that was cutting into its profits. Its initial support came from Republican lawmakers, who repeatedly introduced bills to make it more difficult for consumers to erase their debts. During that time, executives at MBNA, which was bought in 2006 by Bank of America, began donating heavily to both major political parties and many national politicians, including Mr. Biden. (Philly.com Aug 25, 2008)

This is ONE MORE REASON (govt control of bk reform) to take control and have your own business.

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Every state has a statute of limitations (law of limits) on collection debt. It is law that mandates the legal time limit of when a debt can be collected.

Many consumers receive collection debt letters in the mail regarding accounts that have already been paid (no kidding) and/or the time limit to collect has expired. Junk debt buyers have names and account numbers of consumers who have paid a collection account even as far back as 10 years ago and they try to collect AGAIN. The trick for the debt collector is that the consumer most likely does not remember or has no documents of this account so they take the debt collectors word for it. This happens often. We heard this happen on the Dave Ramsey show the other day to a 75 yr old woman for $10,000. Long story short, this consumer has to fight to get the money back because she paid it to the collector under false pretenses. This is not an isolated incident. Debt collectors and collection agencies have no conscience.

Another scenario is that a debt collector will send you a letter to you if your name is similiar to someone else who HAS a collection debt and it may be a very old account that has expired under the guidelines of the SOL. The consumer questions it and the collector “convinces” them to pay. This is not even the consumers account but the collection agencies attempt to make it an “account” when it actually has another consumer name on it. Does this make sense?

THE MOST COMMON scenario is when the debt collector will send a letter that is 5-10 years old to collect. This falls under the statute depending on which state. The debt collector KNOWS that this is too old to collect on but they send it anyway because the consumer does not know their rights. The debt collector knows they legally don’t have any rights to collect but if the consumer does not know about the SOL then the consumer will start to pay the account. Instant profit for the debt collector.

If a certain amount of time passes and the consumer has not been able to pay the collection account, there is a time limit and the collection debt will expire under the SOL. The debt collector CANNOT collect on it. Please note that the SOL does not apply to all debts. The consumer has to check their state’s civil debt collection codes. You must not ignore the collection letters that are old. You can be sued. YOU MUST WRITE AN SOL LETTER.

We are adamant about not talking to debt collectors. They will trick you into making a payment or verbal agreement and that puts the account “live” and the collector lives for the dead to come alive with the SOL accounts.

Below is a statue of limitations SOL sample letter. Remember to always send certified mail return receipt. It is imperative to document all action for your records.

STATUTE OF LIMITATIONS LETTER
Today’s Date
Your Name
Your Address

Collector’s Name
Collector’s Address

RE: [insert account number or reference number]:

Dear [insert collector's name or collection agency name],

This letter is in response to your [letter dated xx-xx-200x] (copy enclosed) or [phone call on xx-xx-200x], concerning the collection of the above referenced [account #].

I do not believe I owe what you say I owe therefore I dispute this debt. I am well aware of my rights under the Fair Debt Collection Practices Act (FDCPA) and my state laws so I hope to save both of us a great deal of time by letting you know that not only do I dispute the validity of this debt, I have also checked with my State Attorney General and verified that the Statute of Limitations for enforcing this type of debt through the courts in (insert your state or the state in which the contract was signed) has expired. Therefore, should you decide to pursue this matter in court I intend to inform the court of my dispute of this debt and that the “statute of limitations” has expired.

This letter is your formal notification that I consider this matter closed and demand that you, or anyone affiliated with your company, stop contacting me regarding this or any other matter except to advise me that your debt collection efforts are being terminated.

Be advised that I consider any contact not in accordance with the Fair Debt Collection Practices Act a serious violation of the law and will immediately report any violations to my State Attorney General, to the Federal Trade Commission and, if necessary, take whatever legal action is necessary to protect myself.

(Signature here)
Your Printed Name

(END OF LETTER)

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