CAC-Commercial Acceptance Company

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Phone calls at work/wouldn't settle at a rate I could afford
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HARRISBURG, PENNSYLVANIA -- A couple of weeks ago I was contacted at work by CAC about a bill I owed and all letters were returned, a lot of my mail didn't get forwarded. I asked to call back after work, at first the agent was okay. Later after 5pm, my relief did not show and I was still at work. I called this agent back and told him I was still at work and asked to call back the next morning. The agent then said he had to make a decision to file suit that day and pressured me to make a payment arrangement while I'm working with customers I'm supposed to attend to standing in line. I even told him that I wasn't even supposed to make that call.

Later, a company I didn't recognize pulled money from my account so I closed it. I stayed in contact with this agency during this time and planned on opening a new account on payday. On top of this, It was in the middle of the sweetheart storm. I had to call him back at work, but I thought it would be just to give my new account number for payments. He said I broke that agreement and wouldn't resettle the original payment. While I was working, he again used pressure techniques and a threat to sue to get an agreement for payment on a certain date based on my refund. I realized later that this was absurd as I have no idea when I will receive that money and I also had other bills to pay.

I was so frustrated, I decided to settle this privately and asked CAC to stop all contact and cancel all payments. The law does allow one last contact to confirm such. At this time, I made one last attempt to settle this at a rate I could afford and was insulted by the agent and told I would be sued. To make another agreement that I'm not sure I can keep would have been just plain stupid!

Well, my original debtor said I have to pay this agency. I contacted a debt consolidation company as I have no other way to settle this debt within my means without it.

I was so intimidated, I nearly would have agreed to pay this in full to get them to stop, but then the check or ACH would have bounced! I reported this agency to the BBB!

I think the agent went beyond the law when I asked to call him the next day and he threatened with a suit if I didn't settle right then and there while I was working. I also think he went beyond the law when he insulted me.
     
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User Replies:
warddw1526 on 02/26/2007:
They can call you at work, at least until you tell them not to call you there. This may require a letter to them requesting that. Although if you give them another number to reach you at, and ask them not to call you at work, they may stop.
warddw1526 on 02/26/2007:
In terms of them offering a settlement you can not afford, they do not have to offer a settlement anyway. Ideally, they offer something that works for you to get it paid, but their job as collectors, is to collect on the account.
Slimjim on 02/26/2007:
Needless to say the whole "we have to decide today whether to file suit" is baloney. In fact, rarely does a collector ever sue, unless they actually own the debt, and even then very rare. The original creditor would file the suit. By debt consolidation, I assume you mean using a credit counseling's debt management plan. That's a smart decision, as the payments will be affordable to you and neither the collector nor the creditor, is likely to file for a judgment when they actually are getting paid back.
warddw1526 on 02/26/2007:
The only thing I will say about credit counseling is that it works, as long as you make your payments to the counselor. On the other hand, some people will say that you are paying someone to get a deal that you can get on your own. But if they are not charging you much in fees, slim is right.
Slimjim on 02/26/2007:
True and what's funny warddw, those people that say you can get the same deal are generally wrong. People with great repayment history sometimes can get permanent interest rate reductions, and also if they aren't the ones that just pay the minimum. The banks do it for these low risk customers since they can get credit with anyone and may transfer to another lender with better rates. Those who can only afford minimums or worse, have been late once or more, get a rate INCREASE. CCC is almost always the only way those who need an interest reduction can get it. In this case though, it's more about getting the collectors off his/her back by getting an affordable payment amount accepted.
agemini68 on 03/05/2007:
I know now that he was just blowing smoke,but it is illegal to threaten a suit if you have no intention of following through with it. I mostly wrote this to inform and blow off some steam.

I'm writing a review on Consumer Credit Counseling Services, they were very helpful!
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