I recently received an offer from "Embrace Visa" telling me that if I would pay a portion of an old debt I would receive a discount and a new line of credit would be extended at $1200. They said the remaining old debt would be transferred to the card at 0% interest for the life of the balance transfer.
First of all after doing some research I realized the debt they were collecting on was way past the statute of limitations.in my state its 3 years on an account with no activity. Unfortunately I didn't do my research up front and in an attempt to "Do the right thing" I accepted their offer.
Since that point my life has become a living hell. They have repeatedly sent my "statements" late. I suppose in an attempt to make me late on payments. I came into this with the best intentions and paid what they wanted over a 9 month period in 4 months early every month.
Big Shocker! I never received a card from them. There is now three accounts showing on my credit report from Jefferson Capsys, Midland Funding, and Compucredit. Each with a different amount owed. All companies that fall under the Encore Capital umbrella.
I filed a complaint with the FTC and contacted the local financial crimes division. I immediately closed my bank account since I had paid them by electronic check.
They have completely destroyed my credit. There seems to be no recourse. I have contacted 2 attorneys neither wanted to get involved. I just hope no one ever has to go through what I am going through now. EMBRACE
VISA IS A SCAM! Do not accept any offer the try and give you...
0 comments