- Who is Platinum Holdings Group?
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- Platinum Holdings Group Lawsuits
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- How Do I Stop Platinum Holdings Group Debt Collection Harassment?
- How Can I Delete Platinum Holdings Group from My Credit Report?
- How Can I Deal with Platinum Holdings Group?
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Platinum Holdings Group, LLC is a collection agency and Accounts Receivable Management (ARM) company based in Southern California. Consumers have complained that Platinum’s collection activities violate certain provisions of the Fair Debt Collections Practices Act (FDCPA) such as making false statements and improper contact or sharing of information. If you have been contacted by Platinum, make sure you understand your rights before taking action.
According to the Better Business Bureau (BBB) Platinum Holdings Group, LLC was founded and incorporated in Nevada in 2011. Platinum is listed as a collection agency, and they are currently headquartered in Huntington Beach, CA. The BBB opened its file on Platinum in 2015.
There is very little information about Platinum available using a standard internet search. In addition, their website is very limited and consists of only one page. According to its website, Platinum is “a national debt acquisitions and receivables management company founded with a commitment to high ethical standards by providing an empathetic approach to debt recovery.”
Beneath this statement is their mailing address, phone number, and email address; the name of their Chief Compliance Officer; a web-based contact form; and logos for the Association of Credit and Collections Professionals (ACA International) and International DBA, with whom they appear to have a professional association. There no links or references to consumer resources or compliance regulations. There is also no online payment portal.
In the three years since September 2017, the BBB has closed 25 complaints against Platinum Holdings Group, with 13 closed in the past twelve months. The BBB has given Platinum a rating of B+. Since March 2015, the Consumer Financial Protection Bureau (CFPB) has closed 104 complaints against Platinum alleging violations of the FDCPA such as making false statements and threatening to take illegal actions. Justia lists at least 2cases of civil litigation naming Platinum as a defendant.
Absolutely. Here are some Sample Cases against Platinum Holdings Group LLC
In April 2016, in the United States District Court of Appeals, the founder of Platinum Holdings appealed a conviction for a charge of bankruptcy fraud in violation of 18 U.S.C. Section 157(3), for which he was sentenced to 15 months in prison. The April 2016 case represents the plaintiff’s appeal of the conviction, which was not overturned. In the initial case, the plaintiff in 2004 purchased a home in Texas, indicating on a loan application that it would be his primary residence. A year later, a Nevada lawyer specializing in business and trust formations helped him create business entities through which ownership of the Texas property was shuffled. The first entity he created was Platinum Holdings Group, for which he acted as the primary beneficiary and trustee. As trustee of Platinum Holdings, he formed Core Capital, LLC, and Platinum Holdings was given all voting rights in, and entitlement to all profits from, Core Capital. The plaintiff then transferred all property and assets—including the property in Texas—first to Platinum Holdings and then to Core Capital. The deed to the Texas property was transferred to Core Capital but never recorded.
Next, beginning in September 2005, the Texas property was rented to a series of short-term tenants, with transactions sometimes taking place under his name, sometimes under the name of Core Capital. The plaintiff sued one of the tenants for $70,000 for alleged property damage. In the meantime, the plaintiff had defaulted on his mortgage and failed to pay his property taxes. Through a series of bankruptcy filings involving perjury and fraudulent misrepresentation, the plaintiff repeatedly attempted to stop foreclosure proceedings. Ultimately his financial scheme was revealed and the court informed him of its decision to pursue criminal prosecution. The court affirmed the plaintiff’s right to appeal the decision, but disagreed that any legal errors had been committed and refused to overturn his conviction.
Platinum Holdings Group, LLC
20422 Beach Blvd., #245
Huntington Beach, CA 92648
Telephone: (714) 316-2740
Understanding your Debt Collection Rights
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.
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 receiving 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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