What is Allgate Financial LLC?
Founded in 2006, Allgate Financial LLC manages debt collection by arranging for buying, selling, and tracking debt as it works its ways through the debt collection process. The company is based in Chicago, Illinois and currently operated by its CEO, Mr. Irwin Bernstein, and its account executive, Mr. Paul Basa.
Is Allgate Financial LLC a legit Debt Collection Agency?
Allgate Financial LLC has been recognized by the Better Business Bureau (BBB) since 2007 and maintains and A+ BBB rating. The company has responded to its one BBB complaint and appears to operate as a legitimate debt collector. Allgate Financial LLC is known to conduct business under several aliases, including Equable Ascent Financial (EAF), Allgate Financial LLC, and CMS Services.
Allgate Financial LLC Contact Information:
166 W Washington St
Chicago, IL 60602-2300
Email: [email protected]
(847) 513-9500 (phone)
(855) 255-4283 (toll free)
What kind of complaints does Allgate Financial LLC have Complaints against them?
Allgate Financial LLC has received one BBB complaint and 63 CFPB complaints. Complaints against Allgate Financial LLC predominantly include the following:
- Repeated calls regarding debt that isn't owed, including a high rate of collection calls for debt that resulted from identity theft
- Refusal to discuss the debt, including payment, over the phone, even with the alleged debtor (harassment)
- Threats to sue on aged debt and threats to sue that are made in an aggressive and threatening manner
Are Allgate Financial LLC's Practices Legal?
The FTC enforces the Fair Debt Collection Practices Act (FDCPA), which makes it illegal for debt collectors to use abusive, unfair, or deceptive practices when they collect personal debts, including credit card debt, auto loans, medical bills, student loans, mortgage, and other household debts. Under the FDCPA, debt collectors are, generally, allowed to call, send letters, send emails, or even send text messages to collect on debts, but they are not allowed to bother consumers at inconvenient times without the debtor's permission or at locations such as a debtor's place of employment unless personal calls are permitted by the employer.
Some of the consumer complaints lodged against Allgate Financial LLC represent activity that might violate the FDCPA, including harassing consumers by repeatedly calling and then refusing to provide information sufficient to identity the debt or even refusing to discuss possible payment options. This behavior is indicative of the crooked collection practice where a collector will make feigned attempts at collecting on a debt solely for the appearance and record of the attempt. The collector often then plays the long game by repeating this behavior but preventing the consumer from actually paying off the debt until significant interest and other applicable costs have accrued. This a blatantly illegal practice under both state and federal law, and remedy is available to consumers who act in a timely manner. In addition to state remedies, each violation could mean a $1,000 penalty under federal law.
How can I defend myself against a debt collector like Allgate Financial LLC?
Complaints regarding a collector in any state may be filed with the Federal Trade Commission at www.ftc.gov or (877) FTC-HELP (877-382-4357), and complaints regarding any collector or other business can be made at BBB complaints. To learn more about how the federal government regulates debt collection and protects debtors and other individuals from collector harassment, see FTC Debt Collection pamphlet. Complaints regarding Illinois-based collectors can be made to the Illinois Attorney General's Office. Questions or complaints regarding Springfield-based collectors specifically can be directed to 1-800-243-0618.
If you believe you have a claim for collector harassment or are a victim of another violation of state or federal debtor's rights, you should speak with a consumer rights lawyer or debt collector harassment attorney immediately. Contact us today to discuss your matter and see how we can help at no cost to you.