Asset Recovery Associates or ARA was founded in 2003 and is based in Lombard, Illinois. The organization, which also goes by the name of Financial Credit Service, is both a debt buyer and a debt collection agency. As a debt buyer, it buys debt from banks and credit card companies at a fraction of face value, and then pursues payment from customers on the full dollar amount of their debt.
Since the company buys debt, it collects on its own behalf rather than on behalf of the company that issued the debt. Nevertheless, they still must abide by the Fair Debt Collection Practices Act.
Have questions? Call us now at 844-685-9200 for a Free Case Evaluation.
Our services are absolutely FREE to you.
The harassing company pays our fees.
Asset Recovery Associates or ARA Inc is a legitimate debt collection agency based launched in 2003, and is a debt buyer specializing in old credit card debt. The company buys debt that has already gone through in-house collections and two or more other collection agencies.
If you’ve suffered from ARA harassment, you do have options. Remember, under the law you can recover up to $1,000 for violations of the FDCPA, and $500 to $1,500 for each cell phone robocall.
As of April 2017, the Better Business Bureau reported 163 closed Asset Recovery Associates complaints over the previous three years, including 50 closed Asset Recovery Associates complaints over the past 12 months. The BBB gives Asset Recovery Associates an F rating. Additionally, Justia lists seven ARA Inc complaints filed in federal court in the past year alleging violations of the Fair Debt Collection Practices Act. Moreover, the Consumer Financial Protection Bureau (CFPB) lists 125 closed Asset Recovery Associates complaints for 2016. An article from 2010 says that ARA Inc. is “bad news.”
ARA Inc Contact Information
Asset Recovery Associates
1919 S. Lombard Street, Suite 225A
Lombard, IL 60148
Phone Number: 800-706-3401
It is illegal for a debt collector to threaten to sue you or garnish your wages. It is also unlikely ARA Inc would sue you for a debt you may not owe or they cannot validate. However, debt collection agencies are known to have summoned debtors to court and garnish wages after a default judgement. Contacting an attorney BEFORE this could possibly happen would be a smart move. We’ve helped thousands of consumers fight back against unscrupulous debt collection harassers. Find out if we can help you too today!
Click 844-685-9200 ☎ NOW to call us or go ahead and fill out our Contact Form. Our services are absolutely FREE to you
Absolutely. Here are some sample cases filed in Federal Court against Asset Recovery Associates Inc
In 2016, a judge in U.S. District Court, Eastern District of Michigan, granted Asset Recovery Associates’ motion to vacate a default judgment in Munger v. Financial Credit Service for alleged violations of state and federal consumer credit provisions. According to the judge’s conclusion, there was a mix-up involving ARA and its legal representative that prevented the debt collection agency from receiving notification of the class action lawsuit and reacting in a timely way. The judge ruled that the default decision could be put aside “for good cause,” thus shifting the class action case back in the court system.
If you’re being bothered by debt collectors, it’s important to bear in mind that you have rights. The Fair Debt Collection Practices Act (FDCPA) is a law mandating that debt collectors behave in certain ways to protect you from harassment and from the release of personal financial information. One part of the law states that debt collectors aren’t permitted to contact you in a place or time that they know to be inconvenient. Consequently, if a debt collector attempts to phone you at work and you let them know that you’re not permitted to take calls at work, they need to to stop calling you there. Debt collectors are also not permitted to dislcose information regarding your debt to anyone else, and are generally only permitted to speak with third parties in an attempt to discover how to contact you. Once they have your contact information, they’re not permitted to speak to your friends, relatives, neighbors, or coworkers.
If a debt collector violates the provisions of the FDCPA, you could have the ability to recover statutory damages up to $1,000, plus attorney fees and court costs.
You May Be Getting Calls From These Numbers
Your debt harassment checklist:
- You are receiving multiple calls per week from third party collection agencies
- You are receiving early morning or late night calls from debt collectors
- You are recieving calls at work from a debt collection agency
- Debt collectors are calling your friends, neighbors, or coworkers
- Collectors are threatening you with violence, lawsuit, or arrest
- A debt collector attempts to collect more than you owe
- You are being threatened with negative credit reporting
- A debt collector attempts to intimidate you
- Criminal accusations are being made towards you
- Use of obscene language during an attempt to collect
- Automated robocalls are being made to your phone in an attempt to collect
If you’ve been harassed by debt collectors and even one of these has happened to you, we can help. We will fight for your rights.
We can make them STOP!✋
The Lemberg Law legal team is committed to holding debt collectors accountable, so complete our form for a FREE case evaluation, or call 844-685-9200 NOW.
What Our Clients are Saying
“We are writing to express our sincere thanks and to convey how very happy we’ve been, from first contact, together with the services offered by your firm — specifically by the lawyer who handled our situation, Vlad Hirnyk.”
“Know that you, Vlad, and your company did a fantastic thing. You took on a huge company for small people and righted a wrong. For this we are thankful.”
“I used to get up to 15 calls a week from several collection agencies. It got so bad I felt like I should just get a new phone number to make it quit. Happily, I discovered Lemberg Law. They immediately put an end to the calls. Now, when my phone rings I do not dread it.”
Odds are good that we can help. Contact us now and we’ll clarify.
Have you had a bad experience with this agency’s debt collectors? Sound off and share your experience with other visitors in the comment box below.