Bilateral Credit Corporation or BCC is a debt collection agency, which receives a lot of consumer complaints to our law firm for debt harassment. Find out who they are, why they might be calling, and how you can stop them.
What is Bilateral Credit Corporation – BCC?
Bilateral Credit Corporation, LLC (BCC) is a third-party collection agency based in Rhode Island. BCC has received consumer complaints alleging violations of the Fair Debt Collections Practices Act (FDCPA), such as using false or misleading information in an effort to collect a debt and attempting to collect debts not owed. If BCC has contacted you about delinquent collection items,make sure you understand your rights before taking action.
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Is Bilateral Credit Corporation a scam?
They’re legit. According to the Better Business Bureau (BBB), Bilateral Credit Corporation, LLC was founded and incorporated in 2013. The BBB established a profile page for BCC in 2014, and BCC has been a BBB-accredited business since then. The BBB lists BCC as a collection agency with an estimated 10 employees. Buzzfile estimates BCCS’s annual revenue at $2.3 million and the size of its headquarters staff at 20 employees.
According to its website, BCC is “is one of the nation’s largest and most experienced commercial credit and collection agencies.” BCC states that it “constantly outpaces the collections industry, providing the most comprehensive and innovative services to settle…delinquent accounts quickly.”
Bilateral Credit Corporation collects delinquent debts for healthcare and medical service providers; consumer retail lenders such as department stores; credit card lenders and banks; and other consumer-related debts. BCC uses a “three-step system to settle…accounts—their direct and effective ‘Locate, Communicate, Resolve’ system.” Using this system, BCC collectors first locate client customers using “the most current and sophisticated skip tracing tools.” Next, collectors “communicate with… customers to get a strong handle on the situation.” Finally, BCC “overcomes any issues and resolves…accounts.”
BCC also offers commercial collections for business-to-business accounts; legal support with “direct access to fist-class legal services”; and first-party pre-collect services and consulting for “accounts that are as little as 30 days past due.” BCC utilizes “proprietary collection software…that evolves as the available technology advances.” Their website is also enabled to allow online payment from consumers and account access for clients.
BCC is affiliated with several professional associations, including the International Association of Credit and Collection Professionals (ACA International); the Commercial Law League of America (CLLA); the International Association of Commercial Collectors (IACC); and the New York State Collectors Association (NYSCA). However, their client-facing website does not provide any information about its regulatory compliance policies, and there are no links or references to consumer protection resources, laws, or enforcement agencies.
Who are we? We are Lemberg Law, a Consumer Law Firm
Lemberg Law is a consumer law firm helping victims of collection harassment and abuse. We are ranked A+ by the BBB. We’ve helped more than 15,000 consumers stop harassment and recover money from debt collectors. Harassed? Abused? Misled by a collector? Call our Helpline today! There is no charge unless we win.
How many Complaints are there against Bilateral Credit Corporation?
As of May 2019, the BBB has closed a total of 2 complaints against Bilateral Credit Corporation in the previous 3 years, with 1 complaint closed in the previous 12 months. One of those complaints alleged problems with billing and collections; the other alleged problems with customer service.Since April 2015, the Consumer Financial Protection Bureau (CFPB) has closed 9 complaints against BCC. Justia lists at least 2 cases of civil litigation involving BCC.
Bilateral Credit Corporation, LLC 1980 Pawtucket Ave., Ste. 2A E. Providence, RI 02914-1715 Telephone:(212) 947-1200 Website: http://www.bilateral.com/
Can Bilateral Credit Corporation Sue Me or Garnish My Wages?
It is illegal for a debt collector to make empty threats to sue you or garnish your wages. It is also unlikely BCC would sue you for a debt you may not owe or they cannot validate. However, debt collection agencies are known to have summoned debtors to court and garnish wages after a default judgement. Contacting an attorney BEFORE this could possibly happen would be a smart move. We’ve helped thousands of consumers fight back against unscrupulous debt collection harassers. Find out if we can help you too today!
Unlawful Debt Harassment? Learn the Law & Sue the Collector.
Can you help me file a No Fee Lawsuit against Bilateral Credit Corporation?
Absolutely. Here are some Sample Complaints
Complaints against Bilateral Credit Corporation cite problems resulting from disputes about the validity of debts and the accuracy of information reported to the credit reporting agencies. In March 2016, a complainant who had allegedly incurred a debt with a fitness club complained that BCC reported the debt without notifying him or giving him an opportunity to dispute the debt. According to the complainant, his fitness club “took out his monthly dues” on the scheduled date, but “then took them out again” before the next due date. The complainant said that he“spoke to the owner, who put it back on his card, but the same day charged his card again.” He alleged that in one “month they charged him 3 times.” Although he did receive some reimbursement “from his bank,” he alleged that the fitness club “still owes him for a withdrawal of …$76.00.”He also stated that he and “the owner…did have words after he took out the payment for the third time, and was so rude about it even to the point of harassing” him. The complainant told the fitness club that “they were not allowed to access his bank account anymore, and that he would no longer be a member after the way the owner had come at” him. Subsequently, “not even 3 weeks later, he received a bill from BCC saying he owed$1,500.00.” The complainant stated that he had “never received a letter from the fitness club or anything. In fact, they still owed him one month” for which they had never paid him back. The complainant also stated that “if it costs $76.00 a month to be a member, it is not possible in two weeks for him too we $1,500.00,” especially since they had failed to reimburse him for the overpayment. He alleged that “the owner did this” deliberately. BCC did not provide a public response to this complaint.
In August 2015, a complainant stated that Bilateral Credit Corporation was “attempting to collect a debt that he did not owe.” The complainant stated that he had “documentation clearly showing that the debt was paid in full…directly to the original creditor. However, BCC continues to harass him by calling… at work multiple times per week.” Allegedly, BCC did “not respond to his letter showing that the debt was paid…Instead, they… continued trying to collect the debt more than one month after he had provided this documentation.” The complainant “attached to his complaint his correspondence with BCC, …including the documentation that shows the check he mailed to the original creditor with the letter attached.” Regardless, the complainant stated that BCC has now “filed a negative account status on his credit report.” In addition, because the debt is the result of “a dispute between the complainant and his employer,” the complainant concluded that the debt “should never have been reported on his credit report as a delinquent consumer debt account.” He also stated that BCC’s conduct was “clearly harassment, and that BCC is violating theFCRA by submitting information improperly.” BCC did not provide a public response to this complaint.
Bilateral Credit Corporation Calling You?
Federal laws protect you. The Fair Debt Collections Practices Act (FDCPA) regulates the behavior of collection agencies by prohibiting actions such as the use of abusive or threatening language; harassment; or the use of false or misleading information to collect a debt. The FCRA regulates how collection agencies and creditors report delinquent debts to credit reporting agencies. Additional consumer protection laws include the Telephone Consumer Protection Act (TCPA) and the Consumer Financial Protection Act (CFPA).
But here’s the rub: If you want to enforce your rights, or recover money for violations — you need to sue. These laws provide individuals like you with a means to seek monetary damages in court. For example, the FDCPA allows consumers who have been violated to recover damages of up to $1,000, plus attorney fees and court costs.
Want to Stop Debt Collection Harassment Now?
You may have a case, if…
You are receiving multiple calls per week from third party collection agencies
You are receiving early morning or late night calls from debt collectors
You are receiving calls at work from a debt collection agency
Debt collectors are calling your friends, neighbors, or coworkers
Collectors are threatening you with violence, a lawsuit, or arrest
A debt collector attempts to collect more than you owe
You are being threatened with negative credit reporting
A debt collector attempts to intimidate you
Criminal accusations are being made towards you
Use of obscene language during an attempt to collect
Automated robocalls are being made to your phone in an attempt to collect
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Can You Help Me Delete Bilateral Credit Corporation from My Credit Report?
We can absolutely help. Call us today.
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About the Author:
Sergei Lemberg is a lawyer whose practice focuses on consumer law, class actions and personal injury litigation. He has been repeatedly recognized as the “most active consumer attorney” in the country. In 2020, Mr. Lemberg represented Noah Duguid in the United States Supreme Court in the case entitled Duguid v. Facebook. He is the author of Defanging Debt Collectors, a book that teaches consumers how to battle debt collectors and win.