Capital Acquisitions & Management, now Whitewing Financial Group
This groups preys on people that, previously, had challenging financial situations. They dredge up very old accounts, without a care as to if the account has been settled. Documentation that would establish a satisfied debt on these very old accounts stand a good chance of not being available, something that these predators depend on. Relationships that were in place at that time are often broken, something else that works in their favor.
On 8/26/04, they sent a very threatening letter to me stating they had purchased my account from Wachovia and I had 30 days to dispute or pay. I chose dispute. This was from a debt that was settled 10/29/93 and, with the assistance of my former spouse, I was able to produce the documents to support that this was settled in full. Their response to the letter that I sent on 9/1/04 was that they "had closed the above referenced account and will not be contacting you any further regarding this matter".
They lied, AGAIN. They left a message for me today regarding another bogus account. They are persistent AND slow-learners. This one will be resolved, as was the other.
My concern is that this is a very lucrative business for them as people fall victim to their scare tactics, semi-facts and pennies on the dollar settlement demands for defunct accounts. Watch your money when dealing with these group ~ you may well be throwing good money after bad. Ask that they provide written proof that they purchased the debt that they are illegally attempting to collect (again). Offer to pursue criminal and/or civil action against the individual mentioned in your mailing, along with the group that he/she represents. Let them know that your state has a set of penalties available to those with unfair debt collection practices.
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