Diverse Funding Associates or DFA 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 Diverse Funding Associates – DFA?
Diverse Funding Associates, LLC (DFA) is a debt purchaser and third-party collection agency based in New York state. DFA has received consumer complaints alleging violations of the Fair Debt Collections Practices Act (FDCPA), such as using false or misleading language in an effort to collect a debt and threatening to take actions that cannot legally be taken. If DFA has contacted you about past due financial obligations, make sure you understand your rights before you take action.
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Is Diverse Funding Associates a scam?
They’re legit. According to the Better Business Bureau (BBB), Diverse Funding Associates, LLC is a legitimate collection agency, founded in 2004 and incorporated in 2006. The BBB established a profile page for DFA in 2012, and DFA has been a BBB-accredited business since 2013.The BBB lists DFAas a credit service partnership. Buzzfile estimates DFA’s annual revenue at$1.6 million and the size of its headquarters staff at 8 employees.
According to its website, DFA is“a company with more than 75 years of combined experience in the realm of debt purchasing and collections, in a compliant manner.” DFA states that they “have the experience and knowledge that clients need when looking for a buyer of delinquent consumer receivables.” DFA claims to be “an ethical, compliant, and professional organization.”
DFA’s “partners have more than seven decades of combined experience…in credit cards, DDA accounts, consumer loans, medical accounts, and a variety of nonperforming commercial loan instruments.” Their clients include national and regional banks, retail vendors, auto lenders, consumer finance companies, and hospitals.
As a debt purchaser, DFA provides services that include “purchasing non-performing receivables; purchasing of performing receivables; sale of non-performing receivables; purchase of bankruptcy…accounts; and factoring of performing commercial receivables.” In addition, DFA provides third-party collection services conducted by a staff held to a “high standard of legal and ethical conduct, with associates… trained on all relevant information from a variety of sources, including industry groups, the FTC, CFPB, and HIPAA.” According to DFA, “consumers should expect to be treated in a professional and compliant manner, based on a solutions-oriented approach to resolving the obligation.”
DFA’s Compliance page states that they comply with the Fair Debt Collection Practices Act (FDCPA); the Fair Credit Reporting Act (FCRA); the Telephone Consumer Protection Act (TCPA); the Unfair, Deceptive, Abusive Acts or Practices Act (UDAAP); the Equal Credit Opportunity Act (ECOA); and Regulation E. The Consumers tab includes links to the Ask Doctor Debt page on the ACA International website; the Consumer Financial Protection Bureau; the Receivables Management Association’s consumer page;the Minnesota Attorney General Debt Fact Sheet; and two links to websites that provide information about identity theft.
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 Diverse Funding Associates?
As of March 2018, the BBB has closed 6 complaints against Diverse Funding Associates in the past 3 years, none of them closed in the previous 12 months. All of those complaints alleged problems with billing and collections. As of August 2015, the Consumer Financial Protection Bureau (CFPB) has closed 23 complaints against DFA. Justia lists at least 5 cases of civil litigation involving DFA.
Can Diverse Funding Associates 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 DFA 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 Diverse Funding Associates?
Absolutely. Here are some Sample Cases
Complaints against Diverse Funding Associates cite problems resulting from disputes about their practice of assigning purchased debts to outside third-party agencies for collection, as well as allegations of harassment. In November 2017, a complainant stated that he had “received correspondence from” Stenger & Stenger (S&S), a third-party collection agency, “in an attempt to collect a debt.” According to the complainant, S&S and DFA were “listed as the original creditors with no additional account information listed.” The complainant stated that his complaint was “not a refusal to pay a debt, but a notice pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (b) that the claim was disputed, and that validation is required.” The complainant said he had “no knowledge of this account or any knowledge of any contract with” either S&S or DFA. The complainant requested verification, including the “full original account number; …the date the original account was opened; …any and all written agreement(s) between him and the creditor stating he agreed to pay the alleged debt;… an itemized calculation of the alleged debt; …and an original signed contract between him and the creditor.” The complainant included with his request for validation a request that S&S and DFA “conduct all communication through written correspondence” only. In response, DFA attached verification, stating the account “has been placed with S&S for legal review and possible litigation if deemed as such,” and advised the complainant to contact DFA with any further questions.
In July 2016, a complainant stated that he had contacted Diverse Funding Associates regarding a delinquent “account currently being held in their office, and he had NEVER been treated so unfairly and talked to as if he were nothing.” The complainant stated that he had “attempted to explain his situation to the young lady and the guy before her,” by explaining that he had had “several struggles and financially hasn’t bounced back, but they made him feel like a complete idiot for going through what people experience every day.”The complainant said he had “served his country and never carried a sense of entitlement for any reason, so to have that suggested as his reason for not paying a debt is absolutely absurd.” He said he had “never been talked to in such a manner, and refused to let this go.” Although he had been “very honest and forthcoming about his situation,” the DFA representative “continued to be very nasty and raise her voice all while cutting the complainant off as he was trying to speak.” He also said that “threatening him with law suits… and garnished wages has to be against the law, and is just not right considering the fact that” he had called them “to resolve this matter.” The complainant stated that their conduct “is unacceptable of any company and they need to be held accountable for their” actions. In response, DFA stated that the allegations made are not factual,” and that DFA expects their agents “to help consumers resolve their outstanding obligations compliantly and professionally.” DFA blamed the complainant, and claimed the DFA representative was not nasty, but only direct. DFA closed the account and agreed not to report it as delinquent to the credit reporting agencies.
Diverse Funding Associates 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
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Can You Help Me Delete Diverse Funding Associates 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.