Equity Experts is a debt collection agency which appears to have received a large amount of complaints alleging violations of the Fair Debt Collection Practices Act. Find out who they are, why they might be calling, and how you can stop them.
Equity Experts is a debt collections agency based in Auburn Hills, Michigan. It appears as though there are a variety of different complaints against Equity Experts alleging violations of the Fair Debt Collection Practices Act (FDCPA) including failing to communicate with debtors and failing to provide documentation of debt. If you have been contacted by this debt collector, make sure you understand your rights before taking action.
The harassing company pays our fees.
They’re legit. Equity Experts can be considered a legitimate collections company due to the fact that it has been in business for 14 years . Therefore, it is unwise to ignore the need to resolve your debt and write off this collections company as a scam. However, the collections business has not been accredited by the Better Business Bureau and has received a horrific “F” rating from the BBB.
Additionally, Equity Experts has been accused by the state of Minnesota of, “Respondent conducting collection activity after its license lapsed; Respondent represented to a consumer that it had filed a lien against the consumer’s property when no such lien was in process; The respondent represented to a consumer that it intended to file a lien against that consumer’s property when no such lien was in process; Respondent represented to a consumer that it would obtain judgement and garnish the consumer’s tax returns when no such authority exists”. While these charges are serious, according to BBB.org the collections company paid a civil penalty to resolve the matter.
According to the Equity Experts Website, the company is complying with FDCPA rules, internal compliance, and industry advocacy. Many complainants feel as though Equity Experts may not have helped them resolve their outstanding debt problems in a professional or courteous way. Many complaints on the BBB claim that Equity Experts may have violated the FDCPA. Lastly, According to Zoominfo.com, Equity Experts has a total of 20 employees and is lead by President Michael Novak.
Equity Experts does not cite on their website which specific area of collections that they specialize in, or what specific companies they work for, it only leaves consumers and clients with the message “98% success and 90 day pay”. Because there is little information available on this collections website, it is wisest to confirm which debt is specifically owed and to whom when inquiring about your debt. Due to the outsourcing of debt, inquiring as soon as possible is the smartest move to make because one collection account can turn into many reporting on your credit file if the debt is not dealt with.
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. Lemberg Law received an A+ rating from 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.
Equity Experts has received a number of complaints across the internet, including BBB.org. It is no surprise that without accreditation, and with an “F” rating from the BBB, that there are many complaints posted about Equity Experts. This collections company has received 8 complaints closed in the last 3 years and 7 complaints closed in the last 12 months as well as five customer reviews amounting to a contradictory 4.6 star review overall on the BBB. Additionally, Equity Experts received 107 Google Reviews amounting to a 4.5 star review overall. A majority of these complaints included concerns about the collections company failing to effectively communicate with consumers and help resolve debt.
Only one complaint is available for viewing on the BBB, and Equity Experts has spent time responding to this complaint. However, the reoccurrence of similar complaints across additional websites has done damage to Equity Experts’s reputation within the collections world. More seriously, this collections company could have also been a part of a variety of lawsuits, sanctions, and penalties according to Public Access to Court Electronic Records (“PACER”), which reports all federal complaints within the U.S. federal system’s docket.
Yes and no. Ultimately, if Equity Experts chooses to sue or garnish wages they will likely do so after a default judgement. However, it is illegal for Equity Experts to make empty threats to sue you or garnish your wages. Like most collections companies, Equity Experts would likely choose not to sue you for a debt you may not owe or they cannot verify, but it is the wisest option to contact an attorney preemptively to ensure the safety of your assets and rights. Lemberg Law awards consumers the power to fight back against these fraudulent collection practices. Need Help? Call us today.
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Unlawful Debt Harassment? Learn the Law & Sue the Collector.
Yes. You can sue a debt collector. Here is a sample complaint:
A complainant explains that they asked questions to Equity Experts about who the company was after providing their identity. The employee of Equity Experts allegedly stated that it was against the law to talk about the company she represents. The complainant continued to explain that while it, “May be against the law to share about an account with an unauthorized person” it is not illegal to share information about the company itself. The complainant explains that the employee was incredibly, “rude and disrespectful”. In order for this complainant to be able to resolve their debt, Equity Experts needs to provide documentation and information to the complainant, instead of conducting themselves in a closed off, uncommunicative manner.
The Fair Debt Collection Practices Act outlines a person’s protections against the abuses and misconduct of collection agencies. If you find that a debt collector may have violated your FDCPA rights, it is important that you contact and attorney to resolve the matter and receive compensation. You can find your FDCPA rights listed on the Federal Trade Commission’s website under, “Debt Collection FAQs”. Remember that in addition to your rights under the FDCPA, you have supplementary rights to protect yourself from fraudulent practices under the Telephone Consumer Protection Act (TCPA) and the Consumer Financial Protection Act (CFPA).
Yes, and if you would like to be able to recover your damages and protect yourself as an individual, you ideally should. Suing is the correct course of action if you have found that your FDCPA rights or TCPA rights have been breached. Federal laws protect citizens like you from these fraudulent practices. You should choose to award yourself the ability to defend your rights and receive compensation by suing if you feel as though these rights have been violated. Individuals like you can recover damages of up to $1,000, plus attorney fees and court costs.
You may have a case, if…
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Sergei Lemberg is an attorney focusing on consumer law, class actions related to automotive issues, and personal injury litigation. With nearly two decades of experience, his areas of practice include Lemon Law (vehicle defects), Debt Collection Harassment, TCPA (illegal robocalls and texts), Fair Credit Reporting Act, Overtime claims, Personal Injury cases, and Class Actions. He has consistently been recognized as the nation's "most active consumer attorney." In 2020, Mr. Lemberg represented Noah Duguid before the United States Supreme Court in the landmark case Duguid v. Facebook. He is also the author of "Defanging Debt Collectors," a guide that empowers consumers to fight back against debt collectors and prevail, as well as "Lemon Law 101: The Laws That Lemon Dealers Don't Want You to Know."
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