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 it was agreed to be electronicly withdrawn out of my checking on a friday.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.

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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 IM&R finally called me back angry that the $$$$ was withdrawn from their account.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

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

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.

Apr 30, 2012
by: Old Collector

you dummy the person who commented on their settled debt is a collector from IMR...they are a scam and they dont even give your money to their clients...they are stealing peoples money and its not even going towards their bills...they have been sued numerous times and are under investigation by the FBI...NO JOKE!

May 22, 2012
Gave out Social Security Number
by: E

These people called me and threatened litigation, in a badly garbled message. They had the wrong person and wrong address, but they went on to "verify" some other person's social security number over the phone. If I were dishonest I would now have a some person's social security number, name and address. This totally smacks of fraud to me. They even asked if my social was "close" to the one listed. Sounds like fishing for my SS# to me. So I filed a police report. The phone number that they called is also on the National Do Not Call registry and they called back after I asked to be removed from the list. When they called the second time, They had my name clearly listed as owing them money, They are a total scam company.

Jul 23, 2012
Don't Mess With Me IMR
by: Scam Spotting Pro

They are a complete scam. This man (with a horrible mouth) named "Gustavo" has been harassing me for over a year now saying I owe some payday loan. I asked for proof, and all he did is email me the amount of the debt and that it was owed to IMR. There was no attachment with an actual document showing proof. I told them that was not proof and unacceptable. That's when the bad attitude came in...sometimes I don't even answer when I see the 425 area code because I know its them calling to harass me. Just this morning, he called me again! I told him yet again not to call me and hung up. So what does he do? You guessed it, he called back! I answered the call by stating I have filed a police report with them (Yes I really did and have a detective looking into it) and he responded by telling me they aren't going to do anything and I need to pay. I told him to f--- off (which is sad, I should not have to tell someone that) and hung up. He has not called back yet. Do not pay these people...if they say you owe another company money, talk DIRECTLY to that company! You do not have to deal with collection agencies! I am a medical biller, and my job includes sending people to collections-it does not work like this at all.

Sep 13, 2012
by: dcott

Well, Goins is at it again - this time with a "new" company, "IAM" - and a new number - 425 949-5930. **DO NOT GIVE THIS CRIMINAL ANY OF YOUR MONEY!* It must be SO easy to beat the system in Washington state. REFER ANY CALLS FROM IMR, or now IAM, to the Washington State Police. Read all the previous posts - this is Randall Goins, known and convicted CON MAN and CRIMINAL

Mar 29, 2013
Total Scammers!
by: Linda Scopa

They're trying to collect on a debt from 20 years ago. They likely bought it for a penny on the dollar and have added their own made up interest and penalties. Since the debt is more than 7 years old, and since I declared bankruptcy 4 years ago, I am well aware that I have no outstanding obligations. However, their callers continue to call and threaten me with legal action if I don't pay. They are unable to provide anything in writing for any debt (as there is none). They make up different numbers every thing they call. The one time I let it go to the answering machine, then picked up, I did tell them (as required by MA law) that the call was being recorded. I did not hear from them again.

Note that these poor schulbs calling are getting minimum wage plus whatever they scare little old ladies into paying them. It's criminal.

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