Are You Being Sued by Alco Capital Group?

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Explore:  Debt Collection FDCPA

Alco Capital Group ArizonaI handle a lot of debt collection lawsuits where the party suing is not the original creditor.  Debt buyers – companies that purchase large pools of charged off debt – often file a lawsuit soon after they allegedly acquire the accounts.

Recently here in Arizona I have noticed a relatively new player in the debt buying business – Alco Capital Group.  They are a debt buying company just like the many others operating here in Arizona (Midland Funding, Portfolio Recovery, CACH, LLC, etc.), but they seem to be taking on the higher end debt.

All of their cases in Maricopa County have been filed in the Superior Court, which means that they are suing for at least $10,000 (usually much more).

The cases I have seen filed by Alco Capital Group are fairly similar to the ones filed by companies like Midland Funding.  They have little in the form of admissible evidence and not much to back up their allegation that they actually own the debt.  This is why it is so vital that you respond to the lawsuit once you get served with it.  Failing to file an “Answer” will result in an immediate default judgment which will then lead to wage garnishment and/or bank levy.

Alco Capital Group Must Comply with the FDCPA

It is also important to remember that debt buyers like Alco Capital Group must comply with the regulations found in the Fair Debt Collection Practices Act (FDCPA).  This means that they can’t do anything that is unfair, untrue, and must treat you with respect in the debt collection process.  If you are being contacted by Alco Capital Group it is important to understand that they cannot contact your employer or family members and that they must not misrepresent anything while trying to collect on the debt.

Topics:  Debt Collection, FDCPA

Published In: Consumer Protection Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© John Skiba, Skiba Law Group, PLC | Attorney Advertising

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