Sierra Receivables Management or SRM 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.
Sierra Receivables Management, Inc. (SRM) is a third-party collection agency based in California. SRM 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 abusive or threatening language in an effort to collect a debt. If SRM has contacted you about past due financial obligations, make sure you understand your rights before you respond.
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Is Sierra Receivables Management a scam?
They’re legit. According to the Better Business Bureau (BBB), Sierra Receivables Management, Inc. is a legitimate collection agency, founded and incorporated in 1985. The BBB established a profile page for SRM in 1992, and SRM has been accredited by the BBB since then. SRM is listed as a collection agency. Buzzfile estimates SRM’s annual revenue at $1.1 million and the size of its headquarters staff at 11 employees.
According to its website, SRM“prides itself on providing professional service and communication…and seeks to handle things quickly and efficiently.” SRM also “works to expedite,…process,… and find answers immediately as needed, usually with a 1-day turnaround.” SRM cites an average success rate for collection agencies in California at 14% and states that they “consistently have a debt recovery rate at 28%.”
Sierra Receivables Management collects delinquent debts for consumer retail lenders and medical and healthcare service providers. They also accept delinquencies for commercial business-to-business accounts. Their third-party debt collection services include “immediate telephone contact and notice by mail on each account; …customized notices and…client inventory reports; …client statements and remittances… by the 10th of every month; …nationwide credit reporting; …an in house legal preparation department; …and on-line property information…and social security information searches.”
SRM’s skip tracing department employs “collections experts who attempt to locate…debtors” who “may attempt to stay out of the public eye to escape repayment” after “accruing…significant debt.” SRM’s legal preparation department assists in litigating delinquencies by filing “summonses, complaints, and even wage garnishments, if necessary, to satisfy any outstanding debt.” Their in-house legal department retains the services of a local law firm.
The home page of the SRM website includes a statement indicating that SRM is a member of the American Collectors Association, the California Association of Collectors, and ACA’s Healthcare Services Program. SRM operates in compliance with the Federal Fair Debt Collection Practices Act and the California Robbins-Rosenthal Act.” However, the SRM website does not provide any links 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 Sierra Receivables Management?
As of February 2019, the BBB has closed 6 complaints against Sierra Receivables Management in the preceding three years, with 1 complaint closed in the previous 12 months. All of those complaints cited problems with billing and collections. Neither the Consumer Financial Protection Bureau (CFPB) nor Justia has posted any complaint information involving SRM.
Can Sierra Receivables 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 SRM 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 Sierra Receivables Management?
Absolutely. Here are some Sample Complaints
Complaints against Sierra Receivables Management frequently cite problems resulting from allegations of illegal credit reporting practices and rude and abusive telephone representatives. In October 2017, a complainant indicated that she had paid off a balance from a medical bill in full, but SRM continued to report the bill to the credit reporting agencies as delinquent. The complainant stated that the alleged outstanding balance was from a date of service three years prior, and that the only reason “it was late was because of a dispute with her insurance, which she ultimately resolved by paying the accountant… to be in good standing.” When the complainant contacted SRM, she was “placed on hold for a long duration and then…was told SRM would not remove the negative marks against her credit” because the request was denied. In response, SRM stated that “after review of the entire situation, management has agreed to take action to remove the item from the credit bureaus.”
In July 2017, a complainant stated that he had “filed a Chapter 7 bankruptcy in June of 2015… in the United States District Court for the Southern District of California,” and that the “case was discharged in October of 2015.” The complainant had “called SRM and told them of the bankruptcy, which…had already been noted…on his credit report.” Allegedly, Sierra Receivables Management “refused to remove” a delinquent item that had been “included in his bankruptcy from his credit report,” and now his “collection file… states the dismissed account as opened.”The complainant alleged that this reporting practice is “in direct violation of the bankruptcy stay,” and that he was “legally given a discharge under the bankruptcy code.” In response, SRM stated that they were “moving to delete the credit reporting on this issue.”
In August 2016, a complainant stated that he had “made a verbal agreement to pay monthly.” He said that the statement envelopes sent to him by SRM “clearly state the account was accruing interest at 10% per year.” The complainant said that his “balance last month was $268,” and that he had made a $50.00 payment. But this month his balance had grown to $372.00, with $171.00 interest this month. When he called,” SRM allegedly had his social security number registered with “another person’s name and account.” He said that SRM was “very unprofessional” and misuses “personal information that is being leaked.” In response, SRM stated that “after reviewing the customer’s statement and the notations of the account representative, it appears there could have been a miscommunication. Therefore, SRM will stand by the verbal agreement made in July 2016.”
Sierra Receivables 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 Sierra Receivables 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.
Sierra Receivables served me with court papers and are suing me for my medical bills..is that even legal?