Central Portfolio Control or CPC is a third-party collection agency based in Minnesota. CPC has received consumer complaints alleging violations of the Fair Debt Collections Practices Act (FDCPA), including illegal communication tactics and failure to verify debts. If you have been contacted by Central Portfolio Control regarding past due financial obligations, understand your rights before taking action.
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According to the Better Business Bureau (BBB), Central Portfolio Control, Inc. is a legitimate collection agency founded and incorporated in 1998. The BBB opened its file in 2001. CPC is listed as a collection agency. The BBB has posted an Alert warning consumers that CPC has been cited for instances of misconduct. Buzzfile estimates CPC’s annual revenue at $4.8 million and the size of its staff at 35 people
According to its website, CPC is “a full service and nationally licensed collection agency focused on the recovery of distressed accounts receivable.” Their stated mission is to provide “clients with the highest quality recovery services available and exceed expectations delivering bottom line results.”
Central Portfolio Control collects delinquent debts for most of the usual consumer lending industries, including credit cards, retail credit, and auto financing. CPC also collects delinquent real estate accounts for homeowner associations and home mortgage lenders. In addition, CPC’s commercial collections division collects delinquencies for business-to-business including construction and contracting companies and equipment leasing. CPC cites intimate knowledge of the rules and regulations governing each industry as its strength.
CPC’s online payment page provides information about making payments over the phone, by mail, online via a payment portal, or using Western Union. Their consumer resources page provides links to Ask Dr. Debt, CreditKarma, Mint.com, and MyMoney.com. However, their compliance information is limited to a statement inviting feedback. There are no links or references to consumer protection laws or enforcement agencies, and no mention of compliance policies or employee training.
As of October 2017, the BBB has given CPC a rating of B+. The BBB has closed 53 complaints against Central Portfolio Control in the past three years, with 5 complaints closed in the past 12 months. Most of those complaints allege problems with advertising and sales. Since March 2015, the Consumer Financial Protection Bureau (CFPB) has closed 22 complaints against CPC. Justia lists at least 17 cases of civil litigation naming CPC as a defendant.
Central Portfolio Control, Inc.
10249 Yellow Circle Drive, Suite 200
Minnetonka, MN 55343
Telephone: (800) 541-7123
It is illegal for a debt collector to threaten to sue you or garnish your wages. It is also unlikely CPC 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!
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Absolutely. Here are some Sample Cases filed in Federal Court
According to its website, the Commerce Department of Minnesota in October 2013 filed a statement of charges against two prominent Minnesota-based collection agencies for “allegedly operating without a license and using money collected…for personal extravagances, [such as] “season tickets for both the Minnesota Twins and the Minnesota Wild; utility bills, parts for [an agency manager’s] classic Corvette, meals, and home and cabin costs; and a vacation in Costa Rica including a chartered fishing trip, zip line tour over eleven waterfalls, golf, a Segway tour, horseback riding, and white water rafting while staying at two different upscale spa and golf resorts.” Although this investigation did not specifically target CPC, the Department was acting in a wider effort “‘to shut down abusive debt collectors to stop them from illegally lining their own pockets and harming consumers and businesses.’”
According to the BBB, the Minnesota Department of Commerce on October 29, 2013, took separate action “against Central Portfolio Control, Inc.’s collection agency license for attempting to collect on payday loan debt when it should have been known that the loans were written by unlicensed lenders in MN making them illegal and void loans.” These practices violate FDCPA provisions against “deceptive practices in connection with the collection of a debt.” In addition, the FDCPA prohibits the collection “of any amount (including any interest, fee, charge, or expense incidental to the principal obligation) unless such amount is expressly permitted by law.” The Minnesota Department of Commerce required Central Portfolio Control to pay a civil penalty of $2,000 and sign a statement agreeing that:
1. the violation as described occurred and CPC will resolve it in this manner;
2. CPC is aware of its right to a hearing and hereby waives that right; and
3. CPC has been advised of their right to legal counsel and has either had legal counsel or waived their right to legal counsel.
The Fair Debt Collections Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA) are enforced by the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB). The FDCPA regulates the behavior of collection agencies by prohibiting actions such as the use of abusive or threatening language; harassment; or the use of false or misleading information to collect a debt.
The FCRA regulates how collection agencies and creditors report delinquent debts to credit reporting agencies. Additional consumer protection laws include the Telephone Consumer Protection Act (TCPA) and the Consumer Financial Protection Act (CFPA). The complaint above illustrates how these laws can be extremely effective tools to hold accountable collection agencies who fail to adhere to their provisions.
These laws also provide individuals with a means to seek monetary damages in court. For example, the FDCPA allows consumers who have been violated to recover damages of up to $1,000, plus attorney fees and court costs.
Seek legal assistance to find the relief you may be entitled to if you are having difficulty resolving disputes with a debt collection agency.
Consumers have reported this agency harassing them from the following 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.
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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.
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