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Fortune Portfolio Management Complaint - Collection Agency Collected On My Part But Have Not Paid Me Any Of My Money

Review by Doriscuteness on 2009-01-02
LEWITTOWN, NEW YORK -- I have been a client of Fortune Portfolio Management (FPM) for about 3 years. Since 2 years back I have not been given any reports in regards to my account unless I call and beg them for it and I have not received any money owed to me. Usually my phone calls go unanswered. I have been trying desperately to find out what is going on with my accounts so that I can at least find another company to collect on my behalf but without the proper information from FPM I do not know who they have already collected from and I certaintly do not want to bother clients who have paid FPM again. What to do? Where to turn? It can not be legal for a collection agency to collect on behalf of companies and then keep the money and information for themselves?

It is unethical and I am sure illegal. I have supplied all my paperwork to my lawyer and we are ready to pursue legal options. Stay away from this company.
Comments:2 Replies - Latest reply on 2009-01-02
Posted by Davenport on 2009-01-02:
I may be wrong, but don't you sell your debt to companies? Didn't they give you some amount of money in order to get rights to collect the debt? If so, any money they get is theirs.
Posted by Nohandle on 2009-01-02:
Davenport, some collection agencies do in fact purchase debts, many times for near nothing. Other agencies operate on a percentage basis and when the debt is collected they keep their high percentage and the business that contracted with them receives their agreed percentage. It appears the OP selected the second option and hasn't been satisfied the past several years with the results. Contacting an attorney was a good decision on his part.

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