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By Contributing Author: Sergei Lemberg Updated on

Are You Being Called By Loancare?*

Stop the

You have legal rights. We can help.


If your monthly debts, such as credit cards and student loans go into arrears by at least three months, a debt collector may soon contact you to collect the balance. If you experiencing problem with a collection agency being too overbearing in their payment demands, be aware that the law prohibits them from bullying or harassing you.

Your Rights Under the FDCPA

If a debt collector is bullying you, they are breaking federal law. The Fair Debt Collection Practices Act, or FDCPA, prohibits third-party collection agencies from using unfair or abusive methods like those below to collect a debt.

  • Using profane or obscene language
  • Demanding amounts not supported by law or the original creditor agreement
  • Calling you at work after you’ve told them that your employer doesn’t allow such calls
  • Calling you repeatedly and leaving messages that do not identify them as debt collectors
  • Calling you before 8:00 a.m. and after 9:00 p.m. in your time zone
  • Telling your friends, neighbors, and co-workers that you owe money and they are trying to collect it from you

Company Profile: Loancare

If you are being called by Loancare, more information about the agency management and operations is below.

Loancare, which also does business as The Money Source and Arc Home Loans, is a mortgage broker and debt collection agency located in Virginia Beach, Florida. It was founded in 1983, has 664 employees on staff, and is managed by Dave Worrall, its President.

It has a B rating with the Better Business Bureau. Archived records at the PACER website confirm that consumers who believed that they were being harassed by Loancare asserted their rights.

Are You Being Called By Loancare?*

Alleged Violations against Loancare

According to PACER, on or around October 17, 2016, Loancare sent a letter to a Florida consumer advising that it was now servicing his loan. He later complained that the monthly statements it subsequently sent demanded inconsistent amounts and included fees that seemed to vary.

Feeling harassed by Loancare, the consumer engaged an attorney and sued the agency for misrepresenting the character, amount, and legal status of the debt.

The matter was later dismissed.

Hire an Attorney

The phone numbers for this debt collection agency are:

If they appear on your caller ID at any time of the day ornight, it means that Loancare is trying to reach you. If they send monthly statements that don’t make sense, don’t blindly pay. Act on your rights by hiring a consumer lawyer and filing a claim against Loancare.

A successful claim could result in compensation of $1,000 per FDCPA violation, so stand your ground when you know that you’re in the right.

Additional Resources

Case taken from PACER ( File number is Case 3:17-cv-00500-MMH-MCR from the United States District Court for the Middle District of Florida, Jacksonville Division.

*Disclaimer: The content of this article serves only to provide information and should not be constructed as legal advice. If you file a claim against Loancare or any other third-party collection agency, you may not be entitled to any compensation.

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