Did you recently receive a mailer from PO Box 1120 Charlotte NC stating you have debt that needs to be paid? This is Jefferson Capital Systems.
It’s crucial to take prompt action and defend yourself if you are facing a lawsuit from Jefferson Capital Systems. When a debt collector initiates a suit, they will file a formal Summons and Complaint against you, the purported debtor, in court.
Jefferson Capital purchases written-off arrears from other agencies and uses various tactics to collect on it, including filing lawsuits with the help of local customs attorneys. Debt collection firms like Jefferson Capital Systems often exploit consumers, presuming they lack knowledge of their legal rights conferred by the Fair Debt Collection Practices Act (FDPCA). Consequently, many debt collectors resort to dubious methods to recover outstanding debt.
What is Jefferson Capital Systems?
Jefferson Capital Systems is a financial services company specializing in debt management and recovery. The company purchases portfolios of delinquent consumer debt from lenders and other creditors and then uses various strategies to recover the outstanding balances from the debtors.
This agency uses data analytics, machine learning, and other advanced technologies to analyze and segment debt portfolios, identify debtors most likely to repay, and develop personalized repayment plans and settlement offers.
Jefferson Capital Systems also uses various channels to communicate with debtors, including phone calls, letters, and online portals.
Contact Details
Here’s Jefferson Capital Systems’ contact details:
Jefferson Capital Systems, LLC
16 McLeland Road
St. Cloud, MN 56303
Phone: +1 800-281-2793
Jefferson Capital Systems History
Jefferson Capital Systems was founded in 2002 by former executives of First Bank of Delaware, a regional bank specializing in credit card lending. The founders saw an opportunity to create a business to purchase and manage delinquent credit card debt, a growing problem for banks and other lenders.
In its early years, Jefferson Capital Systems focused on building relationships with credit card lenders and other creditors and developing advanced debt recovery strategies and technologies.
In 2011, Jefferson Capital was acquired by BlackRock, a global investment management firm, which saw the company as a strategic addition to its financial services portfolio. Today, Jefferson’s headquarter is in Saint Cloud, Minnesota.
Jefferson Capital Systems Reviews
Some reviews show that Jefferson Capital Systems, LLC needs a higher customer satisfaction rating. In addition, the company has received 1,212 customer complaints in the last three years, with 406 complaints closed in the previous 12 months.
The nature of the complaints is specified, and it is clear that customers have raised many issues. Debt collection agencies should adhere to the best operations and ethical standards when dealing with consumers. Consumers with negative experiences with these companies should file a complaint to seek resolution.
Based on the high number of complaints and low customer satisfaction rating, it may be best for consumers to approach Jefferson Capital Systems with caution and carefully review their options.
Google Reviews
The company’s reputation is reflected in its ratings. On Google, Jefferson Capital Systems has a ranking of 1.8 out of 5 stars based on 442 reviews.
BBB Reviews
Jefferson Capital Systems is a recently founded company with has already garnered numerous negative reviews and complaints. According to the Better Business Bureau, they received more than 1000 customer complaints regarding the company’s executions within the last three years, with more than 400 complaints closed in the last year.
Consumers have reported serious problems with debiting executions. Jefferson Capital Systems’ BBB profile has a ranking of 1.3 stars out of the possible 5 stars from 44 customer reviews.
Other Reviews
These customer reviews on Jefferson Capital Systems indicate they have issues with their debt collection executions. Several consumer complaints accuse the agency of violating the FDCPA, including attempting to collect cleared debts, sharing confidential information with third parties, and using inappropriate communication tactics.
How To Stop Jefferson Capital Systems
The Jefferson Capital Systems can be a nuisance with their frequent calls, but there is a way to stop them. Here’s how:
1. Use an 11 Word Phrase to Stop the Calls
Did you know that you have the power to stop Jefferson Capital Systems from calling you? Here’s how: Use this 11-word phrase: “Please stop calling and contacting me regarding my debt.”
As a debtor, you have the right to stop debt collectors from calling you. Don’t let debt collectors intimidate you. This ultimate guide, from a debtor’s perspective, will provide you with the tools and resources you need to stop the Jefferson Capital Systems from disturbing you, so you can focus on what’s important.
2. Make Jefferson Capital Systems Validate the Debt
Mistakes can happen, and it’s possible that Jefferson Capital Systems may contact you about a debt that doesn’t belong to you. To verify the debt, first ensure that the call is from the real company. Next, send a Debt Validation Letter if you’re unsure about the debt. This will give you the information you need to determine if the debt is yours to pay. Additionally, you can check your credit report to see if the debt is listed there.
3. Confirm Debt Is Within Statute of Limitations
Did you know debts have a statute of limitations? This term refers to a fixed duration within which a creditor or debt collector must take legal action against a debtor to recoup outstanding debt. Once this timeframe elapses, the creditor or debt collector loses their legal authority to pursue the debt.
Generally, the statute of limitations for most debts extends to six years following your last payment or correspondence. Nevertheless, this duration can vary depending on the specific debt category. For instance, mortgages have an extended time limit. If you default on your mortgage payments and your home is repossessed, your lender has six years to reclaim the loan’s interest and 12 years to recover the principal sum. Consult this state-by-state guide on the statute of limitations.
If a lender procrastinates in taking steps to recover the debt, it may become statute-barred. While this doesn’t eliminate your debt, it restricts your lender from employing legal avenues, such as initiating a lawsuit, to collect the debt. As such, allowing your debt to become statute-barred doesn’t make it disappear.
A debt is considered statute-barred if no payments have been directed towards the outstanding balance, the debtor and their representative haven’t acknowledged the debt, and the creditor hasn’t sought legal action to reclaim the debt.
When did you submit your last payment? Identify the date, perform the appropriate calculations, and determine if your debt is statute-barred or within the acceptable limits. If it’s within the limits, collect information on the debt and start formulating a repayment plan. Conversely, if the debt is statute-barred, you can use this fact to your advantage in court against your lender.
4. Resolve the Debt
Once you have verified that the debt is within the statute, it’s time to tackle it. You have two options: either confirm if the debt belongs to you and settle it or dispute it if it’s not yours.
Settling the Debt
When the Jefferson Capital Systems reaches out to you and you acknowledge that you are the debtor and the debt is within the statute of limitations, you can start working on addressing it. Communicate with the Group to explore the possibility of settling for less than the original debt amount. If they are not amenable to settling, you can discuss a payment plan for the debt.
The majority of debt collectors are receptive to devising a plan for debt recovery. If they consent to a payment plan or a settlement, make sure to get the agreement in writing. Detail the renegotiated amount and the payment terms before initiating any payments.
If you have the funds to pay off the debt, go ahead and do so. If you have been consistently making payments on the debt, you can request a goodwill deletion from the Jefferson Capital Systems. Draft a concise letter detailing your request, explaining the transfer of the debt to the collection agency, and outlining how you intend to rectify the issue. They will decide whether or not to remove the item from your record.
The Jefferson Capital Systems may decide not to delete the debt. Even if they agree to delete it, they are not obligated to remove the information from your credit report. Nonetheless, paying off your debt is still beneficial, even if the record remains on your credit report, as it may not adversely affect your credit score.
Disputing the debt
If the Jefferson Capital Systems contacts you about a debt that you believe is not yours, you can challenge it. Write a dispute letter and send it to the agency within 30 days of their initial contact with you. Also, send the letter to the credit reporting agencies so they can investigate the debt. If they cannot verify the debt, it will be removed from your credit report.
Under Section 609 of the Fair Credit Reporting Act (FCRA), all debtors have the right to challenge a debt. As a result, credit dispute letters are commonly known as 609 letters. After 30 days, the collector is required to halt all efforts to collect the debt, including communication, until they verify the debt and prove that you are the legitimate debtor.
Pro Tip: Make sure your dispute letter has a date on it and keep a copy as proof that you sent it. If you send your letter via mail, retain a copy for your records. Keep in mind that you can only dispute if the debt is inaccurate.
What Should Be Included in My Dispute Letter
Your dispute letter should contain the following:
- Your full name
- Contact information
- The name and contact information of the Jefferson Capital Systems
- A request for them to provide the amount you owe on the alleged debt
- A request for the name and contact information of the original creditor
- A request for proof of the debt
Work with a Lawyer to Write a Dispute Letter
Facing a debt collection agency for a debt you know nothing about can be overwhelming. It is advisable to work with an attorney if you need to draft a dispute letter. The attorney knows what to include and exclude from the letter, ensuring that the filing deadline complies with the time limit set by the FDCPA. Additionally, an attorney can quickly identify any false statements made by the collection agency, threats, or other misconduct by the debt collection agency, which can be used in your defense.
Know your rights
Debtors often believe they lack options when they’re behind on payments and have neglected debt collectors. However, even if you’re late on loan repayments, you still possess rights as a debtor. Debt collectors, such as the Jefferson Capital Systems, must not:
- Attempt to reach you by contacting others, like family members or acquaintances. They are only allowed to communicate with you through your attorney or a consumer reporting agency.
- Make phone calls before 8:00 am or after 9:00 pm.
- Provide false or misleading information about your debt.
- Impose extra charges, fees, or interest on the initial outstanding debt.
- Employ abusive language or harass you concerning the debt.
- Call you at your workplace if your employer disallows such communication.
Take Legal Action Against Jefferson Capital Systems
If alternative methods and the 11-word phrase prove unsuccessful, you may opt for legal action against the Jefferson Capital Systems. It’s advisable to consult an experienced debt collection lawyer to discuss your options. Your case may be strong if:
- You can confirm receiving calls from the Jefferson Capital Systems before 8 am or after 9 pm.
- They utilize offensive language to coerce you into paying.
- The agency levies criminal allegations or attempts to intimidate you with threats of arrest, physical harm, legal action, or adverse credit reports.
- They reach out to others about your debts.
- You get calls at work, particularly if they are automated robocalls.
A debt collection attorney can assess your case and offer professional advice.
Does Jefferson Capital Systems Sue for Unpaid Debt?
Yes, Jefferson Capital Systems has been known to sue debtors for unsettled debts. However, this course of action is not always taken. Whether or not they sue depends on your collaboration and intent to repay the debt or establish a repayment arrangement.
Will Jefferson Capital Systems Sue or Garnish Your Wages?
As a debt recovery agency, Jefferson Capital Systems employs various strategies to collect debts. They may attempt to contact you persistently or resort to legal measures such as suing you and garnishing your income. As a result, if they’re unsuccessful in reaching you, they could initiate a lawsuit, requesting permission to garnish your wages. If the court grants their request, your earnings could be subject to garnishment.
Bear in mind that wage garnishment regulations vary from state to state. It’s essential to acquaint yourself with your state’s laws on the matter. While Jefferson Capital Systems, as a legitimate debt collection agency, has the authority to contact you about outstanding debts, the Fair Debt Collection Practices Act (FDCPA) requires them to halt communication upon your request. This often compels them to take legal action, generally in the form of a lawsuit.
Should Jefferson Capital Systems sue you for a debt you’re not responsible for, it’s imperative to consult a lawyer well-versed in debt collection cases.
How Can Debt Collection Answers Support You?
Dealing with constant calls and an endless stream of letters from the Jefferson Capital Systems can be daunting, particularly when the debt information is inaccurate. Regrettably, debt collection agencies sometimes make errors, and identity theft further complicates matters. It’s crucial to comprehend the workings of debt collection. This knowledge will enable you to respond appropriately when approached by debt collectors and help you maintain control over interactions with them. Additionally, you’ll be aware of your rights in such circumstances. If you have any inquiries about debt collection, feel free to reach out to us for complementary guidance today!