If RGS Financial is calling you, here's what you need to know.
If you miss a few payments on your mortgage, credit cards, or medical bills, you’ll soon be hearing from a debt collector. Several times, actually, because they get paid when you pay, and this formula makes them alarmingly persistent.
Although they may contact you about the debt, there are certain lines debt collectors may not cross without major legal consequences.
How Does the FDCPA Protect Consumers?
In 1977 Congress passed the Fair Debt Collection Practices Act, or FDCPA, after consumer complaints about predatory debt collectors kept escalating. The new law allowed consumers to dispute a debt and tell third-party debt collectors to stop contacting them. It also made collection tactics like those below illegal.
- Calling at inconvenient times, usually before 8:00 a.m. and after 9:00 p.m.
- Failing to identify themselves as debt collectors in every communication
- Contacting you even after you send a cease communications request
- Using profane or obscene language
- Calling you at work after they’ve been advised that such calls are not allowed
- Making legally insupportable threats, such as wage garnishment and asset seizure
Who is RGS Financial?
RGS Financial is a collection agency located in Richardson, Texas. It was established in 2005, has fewer than 10 employees, and is managed by its President, Michael Ryalls.
A search of files archived at the PACER (Public Access to Court Electronic Records) website confirms that RGS Financial has been targeted in the past with lawsuits accusing them of FDCPA violations.
According to the Better Business Bureau's website*, there were currently 54 complaints against RGS Financial as of December of 2017.
Alleged Complaints Against RGS Financial
According to PACER, on or about September 3, 2014, RGS Financial called a Michigan resident about a defaulted credit card account. During the phone call, the consumer stated that he had legal counsel with respect to the debt, and gave the caller his attorney’s name and phone number.
Over a week later RGS Financial allegedly called again. The representative, who identified himself as Morris, spoke to his spouse, who said that he needed to call the consumer's attorney about the debt. Morris allegedly continued the conversation, and tried to get a payment plan established.
When more collection calls took place throughout September and October, he hired a consumer attorney and sued RGS Financial for allegedly violating the FDCPA by contacting him about the debt when he was represented by counsel, and using abusive, harassing, false and deceptive means to collect a debt.
The matter was later dismissed.
How Can You Stop The Harassment?
The phone numbers for RGS Financial are 1-866-941-8600 and 1-469-791-4700. If you see either number on your caller ID, a collection agency is calling about a delinquent debt. If you have hired a consumer attorney and they continue to call you directly, your attorney can help you assert your rights in court. RGS Financial could potentially be ordered to pay you $1,000 per FDCPA violation as well as attorney's fees, court costs, and any actual damages.
If a debt collector tries to harass money out of you, they could end up in debt to you instead.
*Case taken from PACER (www.pacer.gov). File number is 1:14-cv-01114-RJJ from United States District Court for the Western District of Michigan, Southern Division
*Better Business Bureau Information taken from their page: www.bbb.org/dallas/business-reviews/collection-agencies/rgs-financial-in-richardson-tx-90020472/reviews-and-complaints
*Disclaimer: The content of this article serves only to provide information and should not be constructed as legal advice. If you file a claim against RGS Financial, or any other third-party collection agency, you may not be entitled to any compensation.