If you have a debt that hasn’t been paid, it may be turned over to a third-party collection agency. The Fair Debt Collection Practices Act (FDCPA), which was passed in 1978, was enacted to put an end to the harassment and unscrupulous practices of debt collectors.
It was designed to protect consumers like you from wrongdoing. If Paramount Recovery Systems is collecting a debt from you, they must adhere to the FDCPA. If they violate the laws, then they could face harsh legal penalties and you may be able to pursue a claim against them.
Paramount Recovery Systems
Paramount Recovery Services is a collection agency based in Waco, Texas. The Better Business Bureau page was established in 2002. The company is believed to have anywhere from 40 to 50 employees at headquarters with annual revenue of $3.2 million.
The company has been BBB accredited since November 2009 and has a B rating. The company has resolved 101 customer complaints during the last three years, and many of them are for billing and collection issues, such as the failure to validate debts that they were collecting.
What Is A Debt Validation Letter? And Why Do You Need It?
If Paramount Recovery Systems has contacted you for a delinquent debt, you have rights. You can ask them to validate the debt for you, which is an FDCPA requirement. When there is a request for debt validation, the company has five days to respond.
The debt validation letter must include the name of the creditor, the amount of the original debt, the current amount owed, and other specific details to prove that you are responsible for the debt in question.
If Paramount Recovery Systems fails to provide you with debt validation, or if they harass you or do some other violation of the FDCPA, you can file a claim against them. Collection agencies that violate the FDCPA can face penalties and fines. You can put a halt to the harassing phone calls, so seek legal guidance today.
Talk To An FDCPA Attorney Today
If Paramount Recovery Systems has been harassing you with non-stop phone calls, or if they didn’t respond to your debt validation request, you should consult with an FDCP lawyer in your state who handles debt collection harassment cases.
Maintain documentation that shows what was said to you by Paramount Recovery Systems and that you requested the debt validation letter. The more documentation that you have, the more likely you are to succeed with your claim against Paramount Recovery Systems.
Complete the Free Case Evaluation request form on this page so your information can be shared with a local FDCPA attorney so you can stop the harassment from Paramount Recovery Systems.
*Disclaimer: The content of this article serves only to provide information and should not be construed as legal advice. If you file a claim against Paramount Recovery Systems or any other third-party collection agency, you may not be entitled to compensation.