Subscribe To This Site
XML RSS
Add to Google
Add to My Yahoo!
Add to My MSN
Subscribe with Bloglines
Home
Blog
Popular Topics Negotiating
Being Sued?
Deceased Debts
Credit Reports
Debt Not Mine
Foreclosure
Bankruptcy
Medical Debts
Free Resources Free Worksheet
Q & A
Complaints
Alerts
The Book Our Book
Buy Now
Testimonials
The Authors
Site Info Newsroom
Privacy Policy
Partners
 

Investment Management & Recoveries Inc.

by inda
(ontario, ca)

well long story short. we agreed to a settlement offer of $250 to settle a case. it was agreed to be electronicly withdrawn out of my checking on a friday.

i didn't have it, so on thurday i called and said i have $150. they said they would settle it for that. i said fine, but let me go to the bank to make a deposit. when i did wells fargo made me aware of an overdraft for $250.

i called back and told ir&m they withdrew the money a day early and caused an overdraft, and that we'd agrred on $150 and not $250. they said they would refund the difference, well on friday they withdrew the $150 also for a total of $400.

i have emails and paperwork showing the agreement of $150. now they want to refund only the $150 and don't answer my calls. they said the person who arranged for the $150 wasn't authorized, but he told me he was a supervisor and sent out all the paperwork to settle for $150. now i'm in the process to find any credit help.

Comments for
Investment Management & Recoveries Inc.

Click here to add your own comments

Nov 15, 2011
payback time
by: inda ceja

well i got some advise from a friend of mine who happens to be a bill collector also. he advised me to tell the bank what happened, and that withdrew $$$$ on an unapproved date ( which is what happened ). The bank asked me how much, so i told them the amount, and i made sure to honor the arranged amount to remain in their possession just in case i went to court, i could show i am honoring our arrangement. i got the money back into my account in 3=5 days. IM&R finally called me back angry that the $$$$ was withdrawn from their account. they threatened me to go to court, which i said was fine due to the fact that i have legal and binding paperwork they gave to me of our arrangement. i also told them that if i don't get this resolved in 30 days i will summon them to small claims court and all i have to do is show the proof of paperwork and not say anything. they where shaken up when i told them that and that i will also sue for my loss of wages which is more than the debt balance is worth and that it will not look good for a judgement against a debt collection co.

i hung up on them only to get a call from the owner in 10 mins. asking for the proof. i emailed them the docs, and in 1 hour or so i got my letter of debt resolution.

for the win. ! for the consumer!!!!
fight back when one is wronged. look for help everywhere.

Reply from DebtCollectionAnswers.com:

Congratulations! Thank you so much for sharing your story and advice. I am sure it will provide some encouragement for others who may be dealing with the same thing.

Mar 29, 2012
They settle my debt for pennies on the dollar
by: Anonymous

I struggled in the past with getting line of credit that i really cant afford .. IMR gave me the opportunity to settle my 18k debt for 3600. They sent me a paid in full letter and released me of my responsibility.

Reply from DebtCollectionAnswers.com:

Glad to hear it! Just remember to make sure you Read IRS publication 4681 and be prepared in case they send you a 1099-C reporting the cancelled debt as income.


Click here to add your own comments

Join in and write your own page! It's easy to do. How?
Simply click here to return to Collection Company Complaint






We are honored to be featured as a Best Money Site!

best money sites


free ebook chapter

debt collection help on DebtCollectionAnswers.com