Jason H

Rjm acq llc

Rjm acq llc has earned negative publicity rather than appreciation. It is a collection agency, which has tricked many people and has manipulated their debt accounts. A credit report with their name on it needs to be thoroughly investigated before treating it as valid.

About the company:

Rjm acquisition llc, commonly referred to as Rjm acquisitions llc is a debt collection agency operating in the United States of America. The company is mainly involved in buying charged off debt accounts from creditors. These debt accounts are usually bought for a very less amount.

How does rjm acq llc benefit from buying the charged off debt account?:

Rjm acq llc buys portfolio of charged off debt accounts from credit card firms and also from other collection companies. The activities of rjm acq llc are governed as per norms of the Fair Debt Collection Practices Act. In majority of the cases, the debt accounts have become “out-of-statute”. It means that the statute of limitations on these charged off debt accounts have already expired and the outstanding amount is not required to be paid. The account is legally closed.

Making use of debt accounts, which are “out-of-statute”:

The above condition implies that the unpaid amount is lost. It is from these expired debt accounts that they try to make some money. If the collection agency is able to get even a fraction of the unpaid amount, it re opens the expired debt account and if the officials at rjm acq llc are able to convince the debtor into paying more money, this becomes an added advantage for the collection agency.

Some of the unethical activities of the officials at rjm acq llc:

This company has several complaints registered against it. Some of the activities, which have angered the common people, include the following:

Many people have received credit reports in, which the name of this company was mentioned. These reports were also sent to people who did not have any debt accounts with the company at all.There were reports that the officials belonging to rjm acq llc used abusive language for the debtors.

They made harassing calls to the borrowers and threatened them of calling up their relatives if they failed to pay up.  

Several incidents were reported when multiple listings were made for the same debt account.

There were instances when officials of rjm acq llc tried to “re-age” a debt account. Re- aging means a debt account is reported as a recent account but in reality it is not.

How does the presence of rjm acq llc in a credit report affect the financial well being  of a person?:

Whenever a debt transaction is made, the same gets recorded in the credit report. A credit report is an important document, which records the credit score and contains the credit history of the borrower. If the credit report is not good, the borrower stands little chance of availing a debt in the future. This may greatly affect the individuals’ financial well being. In this case, rjm acq llc had sent many people credit reports with fake claims. These too get recorded in the report. As a rule, if a credit report is damaged, it takes around seven years to repair the credit report. The reason being the transaction activities are recorded in the credit report for a period of seven years.

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