Christian Debt Recovery

Debt Recovery Solutions Of Ohio

July 7th, 2011 |

Author: Gavin

Debt Collector Name Change Does not Change Their Reputation

The Colorado Attorney General John Suthers recently announced that his office has filed a lawsuit against Regent Asset Management Solutions, Inc., a Denver-based debt collection agency, and its CEO, Michael A Scata, on suspicion that they engaged in the unlicensed collection of debt in Colorado and violated Colorado consumer protection statutes.

“The Legislature enacted Colorado’s debt collection laws and licensing requirements so consumers can be sure the companies that contact them are playing by the rules,” Suthers said. “We are committed to vigorously investigating and prosecuting companies operating in Colorado that attempt to fly under the radar or flout the Colorado Fair Debt Collection Practices Act (“FDCPA”) and our other consumer protection laws.”

The company, according to the complaint, also is suspected of taking shortcuts during the course of its business, including not sending out required notices to consumers the date it had marked the notifications. The notices should have included the amount due, the creditor’s name, and the consumer’s right to dispute the debt and obtain the name of and address of the original creditor.

In addition, the Better Business Bureau reports that Regent Asset Management Solutions, otherwise known as ‘Imperial Recovery Partners’ is the focus of 220 BBB complaints across the U.S., including more than two dozen from the St. Louis area.

The BBB warns consumers to be extremely cautious when dealing with representatives of Regent Asset Management Solutions or Imperial Recovery Partners. Both have operated debt collection call centers in recent months out of the same address: 119th Street in Overland Park, Kan. Regent also had offices in Denver, Colo.

In December, a judge in Denver ruled that Regent Asset Management Solutions and its president, Michael A. Scata, were collecting debts from consumers illegally, in violation of the Colorado Fair Debt Collection Practices Act and the Colorado Consumer Protection Act. At that time, the Colorado attorney general’s office accused Scata and his firm of misleading and deceiving consumers nationwide. Two months later, the attorney general’s office returned to court, claiming that the company had ignored an order restraining its collection activities.

Regent and Imperial Recovery Partners are considered the same business by the Kansas City BBB, which has been handling complaints and working with the St. Louis BBB to investigate company operations. Regent has an “F” grade with the BBB, the lowest grade possible.

Michelle Corey, BBB president and CEO, said Regent ignored the law repeatedly and used threats and harassment to collect debts. “Time and time again, this company has thumbed its nose at state and federal law,” Corey said. “In many cases, its collectors are refusing to supply even the most basic information about the debts to consumers. In other cases, it appears they are targeting people who already had settled their debts or who never owed the debts at all.”

In the past 15 months, consumers from 42 states have filed complaints against Regent. Most complaints came from California (36), Missouri and Ohio (29 each), Washington (14) and Kentucky and Oregon (13 each).

Of the 220 complaints filed against Regent and Imperial Recovery Partners, 215 have gone unanswered.

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