Square Two Financial Corporation is a debt buyer which receives a lot of consumer complaints to our law firm for debt harassment. Find out who they are, why they might be calling, and how you can stop them.
What is Square Two Financial Corporation?
Square Two’s headquarters is located in Denver, CO. The BBB also lists an address in Centennial, CO. Their branch offices are located throughout the Midwest and the East Coast. The BBB indicates Square Two was founded locally in 1994, with BBB’s file opened two years later. Buzzfile lists Square Two’s founding date as 2005, with an annual revenue estimated at $2.1 million and a staff of 135. On March 19, 2017, Square Two Financial filed for Chapter 11 bankruptcy in the Southern District of New York. A notice is posted on their BBB profile.
Square Two is not a collection agency. They describe themselves as “a participant in the $100 billion asset recovery and management industry.” Once they have purchased consumer or commercial debt from lenders or retailers, their primary focus is to “help customers resolve their outstanding financial commitments fairly and respectfully” by placing them for collection with one of their “branch offices.”
Square Two’s website lists twelve branch offices: Brown Law; First Step Group; Mandarich Law; Cambece Law; Fresh View Solutions; Neuheisel Law; Enerson Law; Grossman Law; Overcash Law; Federated Law; Lowery Law; and Taylor Law. As of August 2017, the websites for Taylor Law, Neuheisel Law, Lowery Law, and Brown Law are not active. Fresh View Solutions has been Square Two Financial’s main collection agent, but according to the BBB, in June 2017 Fresh View also filed for Chapter 11 bankruptcy and as of August 2017 is officially out of business.
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Complaints against Square Two Financial Corporation, et al.
The Better Business Bureau lists only 4 complaints against Square Two in the past three years, with no complaints in the past 12 months. Because Square Two is a passive debt buyer that outsources collection activity, they do not receive many complaints directly from consumers. The BBB has given them an A+ rating. The BBB lists 9 complaints against Fresh View Solutions in the past three years, with 3 closed in the past 12 months. Most of these complaints allege violations of FDCPA provisions prohibiting harassment and abusive collection practices. Although Fresh View is out of business, the BBB complaint link for this company is still active. Justia lists at least 9 cases of civil litigation filed in federal court naming Square Two as a defendant.
Square Two Financial Corporation
PO Box 5980
Denver, CO 80217-5980
Sample Case against Square Two Financial Corporation
Square Two is a debt buyer, not a collection agency, so it is difficult to find cases about FDCPA or Fair Credit Reporting Act (FCRA) violations naming Square Two as a defendant. However, one case in particular is useful in illustrating the role this organization plays in the debt collection industry. In 2015, in United States District Court, Southern District of Indiana, Indianapolis Division, 4 plaintiffs jointly filed a civil suit against several credit-granting and other financial services firms including Square Two Financial. This case is very complex, but the central charge alleges deceptive collection practices. Essentially, the plaintiffs argue that major banks like HSBC offer credit through a variety of retailers. Customers who sign up for credit programs may not understand that they are signing a loan with a major financial firm. These firms often sell credit accounts—whether delinquent or not—to other financial organizations like Square Two. These transactions occur without the knowledge of the consumers; thus, when loan servicing or collection activity is transferred to a new financial services management company, the new company may hold the consumers accountable to legal agreements to which the consumers never directly agreed or assented. This wide-reaching case alleges violations of the FDCPA including attempting to collect a debt without a license; attempting to collect a debt not owned by the collection agency; common law fraud; and violations of the Racketeer Influence and Corrupt Organizations (RICO) Act.
Understanding Your Debt Collection Rights
Federal laws protect you. The Fair Debt Collections Practices Act (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).
But here’s the rub: If you want to enforce your rights, or recover money for violations — you need to sue. These laws provide individuals like you 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.
What Our Clients are Saying
“I was almost going nuts receiving calls every afternoon from a person using profane language to push me to pay debts I don’t owe. Someone I trust referred me to Lemberg Law, and I don’t regret having contacted them. The attorneys were very kind and always available when I needed them.”
“Thank you for standing with me Lemberg Law. I was so afraid I could lose my job because of a caller who called my job number 4 hours straight back to back. He not only harassed and threatened me but also abused workmates who received the call when I wasn’t around. Since I solicited for your services, I’ve had a peace of mind, and I’m happy because of the few dollars I got as a settlement.”
“I just called in to thank you for the incredible help you offered to my sickly father who was bothered with frequent calls from scammers. At a point, he just wanted to pay them to get rid of all the annoyance, but because of Lemberg Law’s assistance, he got free help, and the bothering calls ended immediately.”
Can You Help Me Delete Square Two Financial Corporation from My Credit Report?
Chances are we can. Call us to today and we’ll tell you how we can help.