It must be a tough job to be a debt collector, purchasing old debt and trying to contact people who avoid you like the plague. There are debt collectors that are better than others, and today we’re taking a look at Equity Solutions & Processing Associates, who probably rank toward the bottom of the popularity list.
Equity Solutions and Processing, or ESP & Associates, appears to be a debt collector that purchases old debt. They may call you from 888-402-6919 or 888-907-6719, and ask you to call them back at 877-333-7033. They also have a listed number of 330-923-8265, which may be disconnected. When they call you, their number may even show up on caller ID as 1111111. If you talk to them, they may tell you that they’re looking for a friend or relative that you haven’t seen for years. This is because they’re often relying on dated information to hunt down this old debt. In this type of situation, a debt collector purchases an old debt for pennies on the dollar and hopes to collect it to make a profit. They are racing against the clock to collect as they only have 7 years from the time of the original delinquency to legally come after you. In most cases, after 7 years they cannot pursue a bad debt in the courts, but they can call and write to you about it as long as they want – and they probably will. If you made payments on this old debt, it is possible they will have 7 years from the time of your last payment. Just because they purchased the debt recently does not mean they have 7 years to collect. The 7 year time frame begins on the date of the original delinquency.
Equity Solutions & Processing Associates are located at 1753 State Rd., Cuyahoga Falls, OH 44223. According to their Manta profile, updated in October 2011, they have 10-19 employees and have been in business for about 3 years. (Their BBB profile lists a starting date of 9/1/2010). It lists Ron Craze as Director of Operations. A satellite image of their address shows a comedy club, dollar store, and bar, so it’s unclear whether or not this is a real business location. It seems doubtful.
Their rating with the Better Business Bureau is an F. I’ve seen some pretty shady companies who managed to avoid that rating, but ESPN & Associates managed to completely blunder this rating. According to the BBB, their rating is an F for the following reasons:
- Length of time business has been operating.
- 44 complaints filed against business
- Failure to respond to 21 complaints filed against business.
- 2 complaints filed against business that were not resolved.
- 6 serious complaints filed against business.
- BBB does not have sufficient background information on this business.
What to do?
Some people choose to ignore debt collectors, while others prefer to try and clear things up. That’s up to you. Chances are this is an old debt that someone has already attempted to collect and failed. If you choose to talk to them, tell them that under the Fair Debt Collection Practices Act (FDCPA) section 809, you request validation of the debt (this should be done in writing), and give them no other information until they comply. If you choose not to talk to them, watch your mail carefully. Should they decide it’s in their best interest to sue you, you may receive a letter to that effect. Should you receive such a letter, you will want to send a certified letter to them requesting validation of the debt, as required by section 809 of the FDCPA. Below is a link to a much more in-depth article about how to deal with debt collectors.
A good option is to invoke section 805 of the FDCPA, notifying the collector that they are to cease all communications regarding this debt, outside of any legal notifications, such as a lawsuit.
BBB Profile Info:
Principal: Ron Craze (Manager)
Ms. Tamara Parkin
Alternate Business Names
ESP & Associates, Equity Solutions and Processing, Inc.
Filed under: Consumers