Original creditors establish deadlines for closing out customer accounts that have become past due. After a certain amount of time has passed, an original creditor will hand over the responsibility of collecting a delinquent consumer debt to a third party such as Credence Resources Management, LLC.
The transaction occurs either by an original creditor paying a debt collection agency a commission or selling the debt outright to the company for a fraction of what was initially owed. Because of the incredible incentive of making a considerable amount of money, far too many third party debt collectors violate a longstanding federal consumer protection law.
About Credence Resources Management, LLC
Operating as a business that collects delinquent consumer debts and processes business services, Credence Resources Management, LLC has run afoul of numerous consumers. Many of the complaints submitted on the Better Business Bureau (BBB) website claim the bill collector contacted a third party regarding an outstanding credit card or personal loan account.
The BBB has given the Credence Resources Management, LLC a B rating, which is considered sub-standard by the consumer advocacy organization.
Federal Law Outlaws Harassment and Deception
Responding to consumer complaints, the United States Congress passed a historic consumer protection law in 1977. Billed as the ultimate consumer Bill of rights, the Fair Debt Collection Practices Act (FDCPA) makes it illegal for debt collection agencies to implement overly aggressive debt collection tactics.
For example, Credence Resources Management, LLC is not allowed to call you at home or at work repeatedly throughout the day.
Although the FDCPA was written into law primarily to eliminate harassing and intimidating debt collection practices, the United States Congress also wanted to address the common debt collection technique of deceiving consumers into paying off delinquent credit card and personal loan balances.
Under the FDCPA, a third party debt collector cannot try to collect more money than what you owe on an account. The company is also barred from trying to get you to pay off a debt that you already paid off. Deception also comes in the form of a bill collector lying about the identity of the company.
Are You Eligible for Monetary Damages?
The sweeping provisions written into the FDCPA includes a provision that grants consumers the right to file a claim against a debt collection agency. Most claims filed in a civil court involving a third party debt collector seek monetary damages, which are divided into two categories: Statutory and actual.
For the awarding of actual damages, you have to prove Credence Resources Management, LLC caused enough pain and suffering to trigger physical and/or emotional distress symptoms. Emotional duress symptoms that include mood swings and a breakdown in communication with loved ones can be difficult to prove.
An FDCPA Lawyer Can Help
If you suffer from emotional distress symptoms and you believe the pain and suffering was caused by Credence Resources Management, LLC, a licensed FDCPA attorney can help you by conducting an exhaustive review of your case.
Your FDCPA lawyer can file a claim or seek another legally approved remedy, such as trying to negotiate a debt settlement with a bill collector.
Schedule a free initial consultation today with an experienced FDCPA lawyer.
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*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 Credence Resources Management, LLC, or any other third-party collection agency, you may not be entitled to compensation.