What is Capital Alliance Financial, LLC?
Founded in 2006, Capital Alliance Financial, LLC offers debt purchasing and reselling to debt collectors. The company has three employees, including its managing member Mr. Phillip Stenger and its general manager Ms. Amanda McKendry, and primarily serves the Michigan area.
Is Capital Alliance Financial, LLC a legit Debt Collection Agency?
Capital Alliance Financial, LLC has been accredited by the Better Business Bureau (BBB) since 2014 and maintains an A+ BBB rating. As such, it appears to be a legitimate debt collection company. Notably, Capital Alliance Financial, LLC has been reported to conduct business under the aliases Alliance Asset Management and Alliance Corporate Solutions Inc.
Capital Alliance Financial, LLC Contact Information:
2618 East Paris Ave SE STE 131
Grand Rapids, MI 49546-2454
(616) 940-3020 (phone)
What kind of complaints does Capital Alliance Financial, LLC have Complaints against them?
Capital Alliance Financial, LLC has received one BBB complaint and 29 CFPB complaints. Complaints against Capital Alliance Financial, LLC predominantly include the use of threatening language and threats of legal action for paid or aged debt.
One BBB complaint was from a consumer trying to pay off a debt held by Capital Alliance but could not reach the collector after many attempts. The law firm representing the collector, which is owned and managed by the same managing member for the collector, responded to the consumer, claiming to have followed up. The consumer disputes this claim.
If the complaints about receiving threats of legal action for paid debt is true, these consumers would have strong claims for improper creditor harassment under the Fair Debt Collection Practices Act (FDCPA), and depending on the consumer's residence location, a claim under the Rosenthal Fair Debt Collection Practices Act.
Are Capital Alliance 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 Capital Alliance Financial, LLC represent activity that might violate the Fair Debt Collection Practices Act (FDCPA), including harassing consumers by threatening to take legal action on debt that might have been owed but is no longer able to be litigated. When the age of a debt exceeds the state-specific statutory limit, the debt can no longer be enforced through the courts. This is called “aged” or “zombie” debt. It is not illegal, however, for a creditor or collector to attempt to recover payment on aged debt such that any payment from the debtor would be considered voluntarily. It is unlawful under the FDCPA to misrepresent a collector's power to force payment on aged debt, so any threat by a collector to sue on debt that a consumer knows to be outdated is likely a violation of consumer rights law. In addition to state remedies, the violations could mean a $1,000 penalty under federal law.
How can I defend myself against a debt collector like Capital Alliance 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 creditor and collector harassment, see FTC Debt Collection pamphlet.
Consumer complaints regarding Michigan-based collections agencies are handled by the Michigan Consumer Complaints Department.
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 collection harassment attorney immediately. Contact us today to discuss your matter and see how we can help at no cost to you.