Source Receivables Management LLC or Source RM 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 Source Receivables Management?
Source Receivables Management or Source RM is a third-party collection agency based in North Carolina. SRM has received complaints alleging violations of the Fair Debt Collection Practices Act (FDCPA), including attempting to collect debts not owed and using false or misleading language in an effort to collect a debt. If you have been contacted by SRM, make sure you understand your rights before responding.
Have questions? Call us now at 475-277-1600 for a Free Case Evaluation.
Our services are absolutely FREE to you.
The harassing company pays our fees.
Is Source Receivables Management a scam?
They’re legit. According to the Better Business Bureau (BBB), Source Receivables Management, LLC was founded and incorporated in March 2008. The BBB established SRM’s profile page the same day the company was started. SRM is listed as a collection agency with four phone numbers listed as additional to its main contact number. Buzzfile estimates Source RM’s annual revenue at $1.8 million and the size of its headquarters staff at 25 employees.
According to its website, SRM’s business is “to maximize…collection return by providing customized collection solutions.” SRM strives to “be the final piece of …the collection puzzle by creating…custom” solutions “using the latest in innovative technology, account scoring, and analytics.”
Who does Source Receivables Management collect for?
Source Receivables Management’s client base is drawn from many different areas of business and industry. Their creditor clients include many types of companies, including telecommunications; utility service providers; healthcare providers; retail credit card lenders; and banks and credit unions. In addition, Source RM accepts commercial collection accounts and delinquent accounts from debt purchasers.
Source Receivables Management has “functioned in leadership capacities with some of the largest companies” in the collections industry, with a “professional collection staff that averages more than eleven years in the industry.” SRM has expressed their willingness “to lend…their talents, reputation, and experience to each and every client… and will do whatever it takes to tailor a solution to not only meet, but exceed…goals.”
Source Receivables Management was certified in 2009 by the National Women Business Owners Corporation (NWBC) as a Women Owned Business Enterprise (WBE), and states that it is “acutely aware” of their clients’ “desire to meet supplier diversity objectives.” SRM is also an affiliate of ACA International. Their Customer Assistance page provides a link to ACA International’s Ask Dr. Debt website. However, their Question and Answer page offers answers to common consumer questions that are biased in favor of collection agencies and creditors and does not provide any links or references to neutral 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 Source Receivables Management?
The BBB has closed 67 complaints against Source Receivables Management in the past three years, with 39 complaints closed in the past 12 months. The largest share of those complaints allege problems with billing and collection services. Many consumers also complained about problems with SRM’s advertising, sales, and customer service performance. As of April 2015, the Consumer Financial Protection Bureau (CFPB) has closed 78 complaints against Source RM. Justia lists at least 7 cases of civil litigation involving SRM.
Source Receivables Management, LLC
PO Box 4068
Greensboro, NC 27404
Telephone: (877) 251-3775
Can Source 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 Source RM 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!
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Unlawful Debt Harassment? Learn the Law & Sue the Collector.
Can you help me file a No Fee Lawsuit against Source Receivables Management?
Absolutely. You can sue a debt collector. Here are some Sample Cases filed in Federal Court:
In September 2012, in the United States District Court for the Northern District of Illinois, Eastern Division, a judge issued a Memorandum and Order in a class action lawsuit alleging Source Receivables Management had violated certain provisions of the FDCPA. In this case, the plaintiff had originally acquired credit card debt with LVNV Funding, LLC. The defendant fell behind on his payments, and it was sent to Resurgent Capital Services (RCS) for collection. RCS failed to obtain the balance on the delinquent account, and LVNV charged it off in May 2000. The charged-off debt was ultimately sold to SRM. In November 2011, Source Receivables Management sent the plaintiff a collection notice that listed RCS as the client but did not name the original creditor and did not include any information about the original debt. The letter showed a current balance of $11,426.29 and demanded payment to SRM. The letter stated that the plaintiff should contact Source Receivables Management “to avoid further collection efforts,” and also included a statement that the plaintiff had the right to dispute the debt.
The plaintiff alleged several violations in this case. First, because the statute of limitations in Illinois is five years, SRM’s efforts to collect represented an illegal attempt “to collect a debt that was time-barred.” In addition, “the dunning letter does not disclose that the debt is beyond the statute of limitations…and the letter…was a form letter also sent to” other consumers who were named as part of a class action. In addition, the plaintiff’s complaint alleged that SRM’s letter violated provisions of the FDCPA prohibiting “unfair and deceptive acts and practices,” including the misrepresentation of the legal status of the debt. In all, the plaintiff cited five violations of the FDCPA—Section 1692g, 1692e, 1692e(2), 1692e(5), and 1692e(10). The court agreed that the plaintiff had stated a valid claim against SRM for sending a letter that implied that a debt was legally enforceable when it was, “in fact, barred by the statute of limitations.” In addition, the court agreed that the letter stated implication that failure to pay the debt would result in “further collection efforts” was sufficient to convince an unsophisticated debtor that the debt was legally enforceable. Although attorneys for Source Receivables Management cited other cases in which similar collection letters were found not to have violated the FDCPA, the court found that “neither of the letters at issue in those cases contained language comparable to that in the dunning letter” in this case. As a result, SRM’s motion to dismiss the plaintiff’s complaint was denied.
Source 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).
Can I sue Source RM 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 Debt Collection Harassment Now?
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 family, friends, neighbors, or coworkers
- Collectors are threatening you with violence, 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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“Prior to contacting you, we had tried repeatedly to handle this matter without threatening litigation. In the end, not only were they unapologetic, but they were dismissive – even of an attorney friend who called on our behalf. Sincerest thanks for resolving this matter for us!”
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Can You Help Me Delete Source Receivables Management from My Credit Report?
We can absolutely help. Call us today.
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