Debt collection -- False statements or representation -- Complaint #12767565
Debt Collector Accused of Misrepresenting Credit Repair Services During Payment Plan Negotiation
Complaint Overview
Complaint ID: 12767565
Company: Source Receivables Management LLC
Product: Debt collection
Sub-Product: Telecommunications debt
Issue: False statements or representation
Sub-Issue: Attempted to collect wrong amount
State: Pennsylvania
ZIP Code: 150XX
Date Received: 2025-03-31T12:00:00-05:00
Date Sent to Company: 2025-03-31T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Risk Assessment
Risk Level: high
The debt collector's alleged misrepresentation of credit repair services and attempts to collect an incorrect amount, potentially unrelated to the original debt, pose a significant risk to the consumer.
Consumer Sentiment: negative
Topics: Debt collection, False statements, Telecommunications debt
AI Analysis
CFPB complaint 12767565 was filed against Source Receivables Management LLC regarding Debt collection (Telecommunications debt), specifically about "False statements or representation". A consumer attempted to set up a payment plan for a telecommunications debt with Source Receivables Management, but the collector allegedly made false representations about credit repair services and attempted to collect a wrong amount. The complaint was received on March 31, 2025 from Pennsylvania. The company responded with "Closed with explanation".
Consumer Narrative
I called Source Receivables Management about a debt a had originally with XXXX XXXX but they had sold my debt to the Source Receivables Management company and tried to set up a payment plan with them and said that I had to pay {$1.00} in order for them to get my information pulled up so I listened to the man and did what he said and he tried to convince me saying that everything on my credit he could get rid of if payed so and so amount I then said I couldnt afford to pay that and I just wanted a payment plan for my original debt and then he said well I can give you a deal for this credit repair thing and he offered a lower amount and I ultimately kept denying it and he kept saying a lower price to get me hooked but I did not fall for it
What You Should Do -- Consumer Action Plan
Consumers should be wary of debt collectors offering unrelated services like credit repair, especially if they are pressured to pay for such services to resolve their original debt.
Legal Context & Consumer Protection Laws
Collectors are prohibited from using deceptive or unfair practices, including making false statements about services or attempting to collect amounts not owed.
Regulatory Insight
This case highlights the importance of regulators monitoring debt collectors for deceptive practices that go beyond legitimate debt collection efforts.
Resolution Likelihood
likely
State-Specific Consumer Protections
The consumer is located in Pennsylvania, and state laws may also provide protections against deceptive debt collection practices.
Industry Comparison
This situation is common in the debt collection industry, where some collectors may engage in aggressive or misleading tactics to maximize recovery.
Related Issues
Frequently Asked Questions
What is CFPB complaint 12767565 about?
CFPB complaint 12767565 involves Debt collection (Telecommunications debt). The consumer reported an issue with "False statements or representation", specifically "Attempted to collect wrong amount". This complaint was filed against Source Receivables Management LLC on March 31, 2025.
Which company is complaint 12767565 filed against?
Complaint 12767565 was filed against Source Receivables Management LLC. You can view all complaints against this company on their profile page at /company/source-receivables-management-llc.
What was the company's response to complaint 12767565?
Source Receivables Management LLC responded with "Closed with explanation". The response was marked as timely by the CFPB.
When was complaint 12767565 filed?
Complaint 12767565 was received by the CFPB on March 31, 2025. It was sent to Source Receivables Management LLC on March 31, 2025.
What state was complaint 12767565 filed from?
Complaint 12767565 was filed from Pennsylvania. You can view all complaints from this state at /state/PA.
Was the consumer satisfied with the resolution of complaint 12767565?
Dispute information is not available for complaint 12767565.
What product category is complaint 12767565 about?
Complaint 12767565 is categorized under "Debt collection", specifically "Telecommunications debt". This is one of the product categories tracked by the CFPB.
How was complaint 12767565 submitted?
Complaint 12767565 was submitted via Web. The CFPB accepts complaints through web, phone, mail, email, fax, and referral channels.
What are the consumer's legal options for complaint 12767565?
Collectors are prohibited from using deceptive or unfair practices, including making false statements about services or attempting to collect amounts not owed. This relates to a Debt collection complaint against Source Receivables Management LLC involving "False statements or representation".
How likely is complaint 12767565 to be resolved?
Resolution likelihood: likely. The company's current response is "Closed with explanation". The company did respond in a timely manner, which is a positive indicator.
What does the risk level mean for complaint 12767565?
This complaint is rated as high risk. The debt collector's alleged misrepresentation of credit repair services and attempts to collect an incorrect amount, potentially unrelated to the original debt, pose a significant risk to the consumer.
What regulatory actions apply to complaint 12767565?
This case highlights the importance of regulators monitoring debt collectors for deceptive practices that go beyond legitimate debt collection efforts. The CFPB tracks complaints like this one to identify patterns of misconduct across the Debt collection industry.
What should the consumer do about complaint 12767565?
Consumers should be wary of debt collectors offering unrelated services like credit repair, especially if they are pressured to pay for such services to resolve their original debt.
Are there state-specific protections for complaint 12767565?
The consumer is located in Pennsylvania, and state laws may also provide protections against deceptive debt collection practices. This complaint was filed from Pennsylvania.
How does complaint 12767565 compare to industry norms?
This situation is common in the debt collection industry, where some collectors may engage in aggressive or misleading tactics to maximize recovery.
What are the consumer's rights if a debt collector makes false promises about credit repair?
Consumers have the right to report deceptive practices to the CFPB and relevant state agencies. They may also have grounds to dispute the debt or seek damages if they were harmed by the collector's actions.
Is it legal for a debt collector to require a payment to pull up account information?
Generally, it is not legal for a debt collector to require an upfront payment simply to access a consumer's account information. This could be considered an unfair or deceptive practice.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.