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My experience with First Resolutions Management (so far)....

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Since I have gotten so much help from this board, I would like start sharing my experiences for those who might benefit from it. I hope this is ok.

I've previously posted about how my bank one account (which was 700 the last time i paid, and 1158 when it was charged off) was sent to an agency called Unifund which was just sent as of last week to an agency based in Canada called First Resolutions Management.

So I called them last week to try to settle this. The woman I spoke with seemed nice and she told me she couldnt locate my account probably cause if it was new it wasnt in the database so she told me to call next week (which is this week)

So I called today and the person i spoke with was professional. He told me my account was just received. i told him that i had not received any letters in the mail and did not want to make any arrangements until i received a letter. He said they would send me a letter with the balance owed and I would receive it in a few days. (he did not give me any trouble with this request) He told me the balance was 1158 but they had to add accrued interest and this would be reflected in the letter. Of course he asked me how i would like to settle this, i told him i could pay in installments but i had to wait until I received my letter (which once received I will send a debt validation letter but of course i didn't tell him that) he told me the best they could offer was installments of 579 (which means i can only pay half now then half later) but then he said he had to calculate the interest first but that would be in the letter.

So now i will wait for my letter and then proceed to send in my DV letter and see what happens. So far they haven't been terrible, this person was professional and non threatening. So we'll see how this goes, hopefully well.




Please keep us updated on your experiences with this company :D

Sub: #1 posted on Wed, 02/07/2007 - 07:19

brownsugar brownsugar

(Posts: 1389 | Credits: 149.35)

I hope everything ends up well with you.

I appreciate collectors treating their clients nicely. But, if someone is doing shady business and he is using such polite words, be careful. Phacia, let's assume, if I am a bad collector, I can now take you to the court for not paying the debt that you owe. Most collectors use this trick so that you agree to pay them and this commitment is legally renewing the SOL. They will record your statement to prove in the court. Based on the last payment date, if it was already past the SOL of your state, it just got renewed during the conversation. You wanted the debt to be validated by the company but at the same time, you accepted that it was your account and will pay it. Bad collectors will do anything to put people in legal troubles.

My point is when you are talking to someone about the debts, first ask for debt validation. Don't say anything about accepting or settling the account with them. They will make offers to put you in the trap. Be choosy on your words. You have to make them feel that you are aware of your rights and will not fall into their catch. I am not creating new worries for you in this case but you need to be cautious in the future.

Sub: #2 posted on Thu, 02/08/2007 - 04:54

PassionHunting PassionHunting

(Posts: 512 | Credits: 38.19)

thanks, PassionHunting you made a good point. I do know that this debt is still within the SOL so it wasnt renewed but now that I think about you are right, I should be more careful about what I say over the phone. Even though he seemed nice, Im still cautious about how this is going to turn out. I'll keep everyone posted about what happens. Thanks for the advice.

Sub: #3 posted on Thu, 02/08/2007 - 05:35

phacia2010 phacia2010

(Posts: 45 | Credits: 26.76)

I want to update about a previous post i made, in case it might benefit anyone:

so today, I finally recieved the first letter from this company,only took them a month(there mailing address is in Seattle, but i looked on there website and there offices are actually located in Canada, is that odd?)

The letter states that they purchased this debt from Unifund(who was the first to collect on this debt, i found this odd as well that they would actually be opened enough to tell me this) they list the original creditor,account number and the principle balance. they also listed the interest (9%) that was added and the new balance .

the letter stated that for a limited amount of time they might be able to offer me money saving options (not that i believe that) and of course the usual, you have 30 days to write us and dispute,validate,etc.

I'm positive that this debt is valid because i have kept track of where it has gone, but its been only until now that i can afford to pay my debts off. Should I still send a DV letter? I'm not looking to stall on this but i guess it's better to be safe then sorry. I'll keep everyone posted.

Sub: #4 posted on Fri, 03/16/2007 - 05:46

phacia2010 phacia2010

(Posts: 45 | Credits: 26.76)

I would be interested in hearing some updates about this company (First Resolutions). I, for one, have had VERY BAD experiences with this people and was not treated in a friendly manner in any way whatsoever. Unfortunately, I did not know everything that I know now when I first came across them, and it is likely that they screwed me big time. The first I heard from them was a phone call at my place of employment. I politely informed them never to call me at work again. I did not hear from them again until I received a summons to small claims court. They had hired an attorney to represent them. I was in the middle of a mortgage search, and the thought of a judment terrified me and, since I was uneducated on my rights and options, I panicked and settled out of court. The only way they would settle out of court was to set up a court stipulated payment plan of $400/month (not a judgement, but a court agreement that if I miss one payment for any reason, they are granted an automatic judgment against me). When I first received the summons, I tried calling First Resolutions directly to work something out instead of involving a 3rd party (lawyer). I had never been treated so rudely as I was when I called back, and I have had a lot of rude treatment by debt collectors before. The lady told me that I had a lot of nerve contacting them now after all the opportunities they had given me previously to work this out. She literally told me that she had never known someone as irresponsible as me and that degenerates like me should not waste her time again and that is why they hired a lawyer to deal with me. She then hung up. I really wish I would have know my rights as well as I do now so I could have at least tried to play hard-ball with them. I still would have ended up settling, but not until after I had a chance to DV them (I didn't think I had time for any of this since I received my summons two weeks before the court date). I might have been able to settle for more favorable terms as well. Now, I don't even know if they are truly the rightful owners of this debt and I am locked into a court agreement to pay them.

Sub: #5 posted on Thu, 07/31/2008 - 22:15

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