CKS Financial 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 CKS Financial?
CKS Financial is a third-party collection agency and debt purchaser based in Virginia. CKS has received consumer complaints alleging violations of the Fair Debt Collections Practices Act (FDCPA), including illegal communication tactics and improper sharing of information. If you have been contacted by CKS Financial, make sure you understand your rights before responding.
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Is CKS Financial a scam?
They’re legit. According to the Better Business Bureau (BBB), CKS Financial is a legitimate collection agency founded in 2009, and the BBB established its profile page in 2010. CKS is listed as a collection agency and limited liability company with a headquarters located in Chesapeake, VA and an estimated staff of 50 people. CKS also uses the alternate business name, Webcollex, LLC. Buzzfile estimates CKS Financial’s annual revenue at $313,356 and the size of its headquarters staff at 2 employees.
According to its website, CKS is “a full-service accounts receivables management firm that manages portfolios above and beyond industry standards.” CKS has two major divisions: portfolio acquisitions and contingency collections. CKS’ portfolio acquisitions division engages with “direct sellers” and “qualified debt brokers” to enhance “its current inventory” by evaluating for purchase “fresh, primary, secondary or aged debt portfolios” as either “singular offerings or forward-flow agreements.”
Who does CKS Financial collect for?
CKS Financial’s contingency collections division offers “affordable, reliable and responsible third-party collections services to credit grantors or investor groups.” Their collection staff services the accounts of “merchants, service providers, government entities and other organizations that extend credit to their customers or members.”
CKS cites as its strengths, “responsible and ethical standards; talented people collecting accounts thought to be uncollectable; efficient portfolio management methods; recovery enhanced by the latest advancements in technology; over 50 years of management; [e]experience in the industry; and maximum results in minimal time.” In addition, their technologically advanced “collections systems, dialers and call center development” have resulted in a “proprietary system…to manage account flows, communications, skip-tracing and general ledger in an easy to use web interface.”
As for compliance, CKS Financial provides “training throughout the year to ensure we stay up to date on current laws and pending legislation to minimize risks to consumers.” However, their website does not contain any references or links to consumer protection resources, laws, or 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 CKS Financial?
As of October 2017, the BBB has closed 21 complaints against CKS Financial in the preceding three years, with 3 closed in the past 12 months. Almost all of those complaints allege problems with billing and collections. Since April 2015, the Consumer Financial Protection Bureau (CFPB) has closed 15 complaints against CKS/Webcollex, and Justia lists at least 7 cases of civil litigation naming either CKS or Webcollex as a defendant.
It is illegal for a debt collector to make empty threats to sue you or garnish your wages. It is also unlikely CKS 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!
In 2018, CKS Financial, LLC was on the receiving end of a proposed class action lawsuit that alleges violations of the Fair Debt Collection Practices Act (FDCPA). The plaintiff in the case claimed he received a collection letter from the defendant that identified his creditor as “World’s Foremost Bank – Cabelas Club Visa” but then informed him that CKS Financial had purchased his account from “Worlds Foremost Bank”. The suit argues that this information is misleading to the unsophisticated consumer, who would be unsure as to who was owed the alleged debt.
Many complaints against CKS Financial demonstrate a pattern of failing to address concerns directly, and avoiding the central concerns of complaints. For example, in November 2015, a complainant indicated that he had been contacted several times by CKS representatives regarding a delinquent debt. He stated that neither he nor his wife had received any written correspondence from CKS regarding the alleged debt, and that neither he nor his wife owe any money. He alleged that CKS was trying to obtain information about someone else by using the pretense of a false delinquency. He requested that the calls stop and that CKS reveal the identity of the creditor to whom he allegedly owed money.
In response, although the complainant had provided phone number information in the original complaint, CKS representatives initially requested the phone numbers that CKS had called so they could research the complaint. The complainant reposted the same complaint, and in its second response, CKS thanked him for the information and posted the results of their investigation. Specifically, CKS indicated that they had placed calls to the complainant three times the previous month, and each time, the representative had left a message identifying the “name of the caller, the nature of the call and a call back number,” and concluded with confirmation that the complainant had contacted them requesting that no further calls be made. CKS indicated a non-binding agreement that no further calls would follow.
The complainant begrudgingly accepted CKS’ response as a resolution, stating, “[a]s long as the calls never start I consider the matter resolved.” However, he also documented that despite CKS’ response, “two things…were missing from the telephone calls made to my home: …the identity of the business generating the call and… the name of the individual who supposedly owed a debt.” Furthermore, the complainant “had to take the telephone number of the caller and find this company on the internet [to identify] the name of the company who generated the calls.” He insisted that neither he nor his wife “owe anyone anything that would require the services of a collection company” and that CKS Financial “now knows [that he] consider[s] the past telephone calls and any future telephone calls to be harassment.”
Here are some past Press Releases of Lawsuits Brought On By Lemberg Law Against CKS Financial
December 2, 2015. It’s common knowledge that debt collectors can be persistent when trying to collect money, but sometimes debt collection agencies cross the line into harassment. That’s what our client claims that CKS Financial did to him.
Our client says that CKS Financial called him, and, during the course of the conversation, asked him if he had an attorney to come to court with him. That struck our client as odd because CKS Financial had not initiated any legal action against our client.
When CKS Financial called again, the debt collector told our client that the debt collection agency planned to investigate his assets and place and employment so it could garnish his wages. Once again, CKS Financial had not begun legal action, nor has it since. When our client tried to send a cease and desist letter to CKS Financial, the debt collector refused to provide CKS Financial’s mailing address.
This case, which was recently filed in U.S. District Court, District of Colorado, charges CKS Financial with violating the Fair Debt Collection Practices Act by engaging in harassing behavior; by using false, deceptive, or misleading representations in connection with the collection of the debt; by misrepresenting the legal status of a debt; by threatening Plaintiff with garnishment if the debt was not paid; by threatening to take legal action without actually intending to do so; by employing false and deceptive means to collect the debt; and by using unfair and unconscionable means to collect the debt. The lawsuit asks for statutory damages of $1,000, plus other relief.
September 23, 2015.On behalf of our client, Lemberg Law recently filed a complaint in U.S. District Court, Northern District of Texas. The case, against CKS Financial, charges the debt collection agency with violating federal law and asks for $1,000 in statutory damages, plus other relief.
Imagine getting a debt collection call. At first you’re flustered, but your anxiety ratchets up a notch when the debt collector tells you only have two weeks to dispute the debt. That’s what our client says happened when CKS Financial called her – even though the law says that a consumer has 30 days to dispute a debt.
The lawsuit charges that CKS Financial violated the Fair Debt Collection Practices Act (FDCPA) by engaging in harassing behavior; by using false, deceptive, or misleading representation in connection with the collection of a debt; by employing false and deceptive means to collect a debt; by using unfair and unconscionable means to collect a debt; and by overshadowing our client’s right to dispute the debt within 30 days.
CKS Financial 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).
Can I sue CKS for harassment?
Yes. If you want to enforce your rights, or recover money for violations — you need to sue. Federal 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 CKS Financial Debt Collection Harassment Now?
“I was so excited when you told me about the positive outcome of the lawsuit. If the need ever arises again, I will not hesitate to call your office or recommend your law services to a friend in need.”
“Thank you, thank you, thank you! I couldn’t be happier with all the hard work your office has done for me. I feel throughout the whole process I was kept informed, and my questions were always answered completely. The calls have stopped, I no longer have a mountain of junk bills piling up, and I owe it all to Lemberg Law.”
“I found your website. I filled out the information and much to my surprise received a call back within the hour. She listened intently and addressed each one of my concerns. She immediately forwarded me an email and advised I would not be charged for services rendered. She made me feel confident and assured, and that someone was in my corner.”
Can You Help Me Delete CKS Financial from My Credit Report?
Chances are good that we can help. Call us today and we’ll explain.
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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.