Chebat Portfolio Management or CPM 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 Chebat Portfolio Management – CPM?
Chebat Portfolio Management, LLC (CPM) is a third-party collection agency and debt purchasing organization based in New York. CPM has received consumer complaints alleging violations of the Fair Debt Collection Practices Act (FDCPA), including threatening to take actions that cannot legally be taken and using threatening or abusive language in an effort to collect a debt. If CPM has contacted you about past due financial obligations, make sure you understand your rights before you respond.
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Is Chebat Portfolio Management a scam?
They’re legit. According to the Better Business Bureau (BBB), Chebat Portfolio Management, LLC is a legitimate collection agency founded and incorporated in 2011. The BBB established a profile page for CPM in 2013. The BBB lists CPM as a collection agency. The BBB has posted an alert on CPM’s profile page indicating they do not have a license to operate as a collection agency.
According to its website, CPM “is a privately-owned corporation” that “specializes in [the] debt managing and debt selling industry.” CPM believes that “success is driven by integrity, professionalism, accountability, and communication.” CPM employs “superior client management” and “approach[es] the needs of each project as a customized situation.”
The CPM website does not provide any detailed information about its business practices, industries served, or regulatory compliance policies. Instead, its Services page provides generalized policy and service descriptions. For example, CPM’s services include “a variety of purchasing plans which can be tailored to” client needs. CPM “provides volume purchasing power complimented by industry knowledge and a management reputation par excellence.”
Client services include CPM agents acting “in the role of the purchaser, seller, or broker” to purchase delinquent debts from creditors. The staff of CPM’s consumer services division understand “that there may be an urgency as it relates to [consumers] needing to trace previous or alleged consumer debt,” and promise to “assist [them] as quickly as possible.”
Their Contact page includes an email address, phone number, mailing address, and web-based contact form. However, there is no indication of whether CPM is a member of any professional associations. In addition, there are no links or references to consumer protection resources, laws, or enforcement agencies anywhere on the site.
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 Chebat Portfolio Management?
As of January 2019, the BBB has closed 7 complaints against Chebat Portfolio Management in the preceding three years, with 4 complaints closed in the previous 12 months. Almost all of those complaints cited problems with billing and collections. Neither the Consumer Financial Protection Bureau (CFPB) nor Justia has posted any information about complaints or civil litigation involving CPM.
Can Chebat Portfolio Management 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 CPM 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 Chebat Portfolio Management?
Absolutely. Here are some Sample Complaints
The BBB has posted an Alert on Chebat Portfolio Management’s profile page that reads:
“BBB conducted an investigation on this company to gather more information about the business and obtain copies of the debt collection licensing and bonding, as required by each state. The company responded to our requests and advised that they are not a collection agency but instead a debt buyer who places the debts they own with third party collection agencies; therefore, they are not licensed or bonded. However, all the complaints BBB has received against this business reference debt collection, thus indicating the business to be a collection agency which requires licensing and bonding, which varies by state. At this time the company has confirmed they are not licensed or bonded to collect debts as they have stated they are strictly a debt buyer.”
Consumer complaints reinforce BBB’s findings. For example, in May 2018, a complainant indicated a loan she had taken out had been sent to Chebat Portfolio Management. Although she “had tried every effort to contact CPM to get a payment plan set up and get this paid off, CPM has been impossible to contact.” She claims to have called “multiple times a day and all at different times, but each time…she got the SAME voicemail.” She had also “left numerous detailed messages and even an email or two, but no one has contacted her back from this company. She also stated that “now she has a second company… blasting her phone and her EX HUSBAND’S phone saying they are a mediation company for CPM and need her to give them a credit card number to get this taken care of.” The complainant wanted to know how CPM gave her “account to someone else when she can’t even get ahold of a human being at” CPM. In response, CPM stated that they had called the complainant and left a message apologizing for the negative experience. In addition, CPM stated that they were “making changes within their organization to correct the communication problem.” CPM also confirmed that her “account was sold immediately upon purchase” to another collection agency.
Additional complaints indicated similar experiences with problems resulting from inaccessibility to non-responsiveness on the part of CPM.
Chebat Portfolio Management 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.
Stop Debt Collection Harassment
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
“With your help the nagging collection calls have finally ceased! I was thrilled I was also able to get damages from the collection agency. I am unable to adequately express my joy. I am so thankful I made the call.”
“When I first emailed the office, I was not exactly sure what they could do for me. I had an idea, but they responded back with everything I could expect to take place. I never believed I would be receiving a check, it was definitely a silver lining. I highly recommend them to anyone seeking customer legal services.”
“I just wanted to let you know we received the check from your office on now and I wanted to take some time to inform you that we really appreciate all of your efforts in this matter.”
Can You Help Me Delete Chebat Portfolio Management 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.