DALLAS, TEXAS -- Heritage Pacific is a company that preys on people who have already lost their home. As far as I can tell, they call you based on public records that show you have had your home foreclosed on. They call you and harass you 5-10 times a day with an automated phone system saying that you owe them a debt. They try to get you to call a toll-free number so that they can get your information and your payment for the debt they say they have with you.
Don't give them any information. They don't have any legal rights to harass you this way or to try to collect on the debt they say they have with you. Please call them at the toll-free number, 877-225-1102, and tell them what you think about their fraudulent collection practices.
If enough people call and complain about their fraudulent collection practices, then maybe we can shut them down. They even boast on their website that “our partners have been enjoying returns of 200-300% or more in a matter of months.” These “partners” are the scumbag people who invest in Heritage Pacific to try to collect on these fraudulent debt collections.
I represent a 22 year old woman whose identity was stolen. A fraudulent loan application was submitted to a lender without her knowledge. The house was foreclosed upon. She filed a Chapter 7 Bankruptcy to try to get rid of the debt. More than three years after the home was foreclosed upon, the debt was sold to Heritage Pacific Financial. They are now claiming that the debt is non-dischargeable because she provided false information on a loan application more than four years ago, when she never submitted a loan application to the original lender.
Can you say... "statute of limitations?" But what they are banking on is that this poor chapter 7 client has no money to pay an attorney to defend her and they will automatically make her an economic slave for the rest of her life. It's ridiculous that they can resurrect a dead claim simply by acquiring an assignment of the bad debt. [** - no solicitations please.]
I read an article recently that condemned Heritage Pacific Financial for being a company that is preying on the people who have lost their homes and trying to collect monies from these former owners. Heritage Pacific Financial is a legal company with many SCC licenses and other financial licenses, and is authorized to collect mortgage monies from delinquent homeowners. HPF has many faces such as investments, collections and REITS. For the most part, they buy write-off 2nd mortgages from other financial institutions and then employ collectors to call on the debts.
Most of the people who took out 1st and 2nd mortgages did so as a cash option on their homes so they could use the money for other ventures. When the market went soft then the owners found they had spent all the money they borrowed and now they are trying to default on the mortgage loans. HPF primary job is collections on 2nd mortgages. They do use collection tactics to get deadbeat owners to pay off the debt they incurred. There is nothing illegal about it.
Don't get mad at a company trying to collect on mortgages when you are one of the people who took the money in the first place, and now you are trying to get out from under the debt you incurred. It's time to pony up! You made the bed, now it's time to lay in it. Have a great day.