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Asset Recovery Associates Complaints & Reviews - Fraud and scam

Asset Recovery Association, Inc. Contacts & Informations

Asset Recovery Associates

Posted:    Steven

Fraud and scam

Complaint Rating:  96 % with 28 votes
Contact information:
Asset Recovery Associates
United States
On 9/30/08, a message was left on my voicemail at work at 6:31pm from a Michael Kennedy from ARA Associates. He said that his number is 888-310-1550, ext. 3076 and added, 'When you call, please refer to case #334089. This requires your attention immediately.'

Because he left such scant information, I ignored the call.

On 10/24/08, this Michael Kennedy left another message on my work voicemail at 11:02am. This time, he identified himself as being from Asset Recovery Associates. He gave me the same case number and phone number to call. He stated that there was 'going to be a decision soon that could have a very negative impact' on me. He added that he knew I was a working lady so he would be there from 8am until 12 noon on Saturday.

All of this sounded familiar to me because on August 21, 2006, I received a letter from Financial Credit Services with the same sort of message and instructions to call. I called, spoke to a Stacy King, and was told that they were trying to collect on a very old debt (I can't remember how old, but it was something like 18 or 20 years) owed by my ex-husband from whom I've been divorced for 23 years.

I was incredulous and said that I couldn't possibly be held liable for this and offered to give her my ex-husband's address and phone number. She insisted that since we were married when the debt was incurred, I was responsible and failure to pay would result in a report to the credit bureau and hurt my credit rating. She offered to let me settle the debt for a reduced sum ($165.00) and stated that if I did not do so on that day, I would have to pay the full judgment and my credit rating would be impacted.

Idiot that I was, I actually gave her my checking account information and agreed she could withdraw the funds electronically. Afterwards, I spoke to a friend about this and they told me I had been scammed. They had just heard about this scam from Clark Howard and told me that there was a statute of limitations on debt collection and what they were doing is illegal. I checked this out on Clark Howard's website and realized I had indeed been scammed.

I called Stacy King back, told her what I had discovered, said that I was stopping payment and would be reporting them to the FCC and BBB, threats I unfortunately never followed through on. On the next business day, I contacted my credit union to see if the funds had been withdrawn. They had not and I instructed them not to release the funds and to notify me if anyone tried to access them.

Because of that experience, I googled Asset Recovery Associates and found that - surprise! - they are also known as Financial Credit Services. I looked up the case number they gave me in 2006 and sure enough, #334089, the very same as given to me by Michael Kennedy on 9/30/08 and 10/24/08!

This time, I intend to make good on my threats of 2006 and then some!!
Comments United States Collections Agencies
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Asset Recovery Associates - Awful company


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 17th of Jan, 2009 by   pissedoff2 0 Votes
I completely agree. We just got a notice from ARA today, saying we owed over seven thousand dollars! The envelope looked very familiar. Then I realized we have been duped by these people before, under the name Financial Credit Service or Services. I feel horrible, that I was taken in, I paid them that time. I even talked to them on the phone number they gave. It was a nice black lady that I talked to.

Anyone out there..don't be fooled like I was. I don't know what to do, but I suspect these people have raked in thousands of dollars. I hope I can find some way to get them put in jail, and stop ripping people off.

Everyone and anyone reading this, if you receive an envelope with a return address of ARA, it's fake. They even have a bogus website. All the pictures look like stock photos that anyone can use.

Please don't get fooled by these criminals.
 6th of Mar, 2009 by   jferri 0 Votes

I agree they are big scammers and I suggest folks be aware and escalate to nearest POLICE station if you receive any such Scant mail or phone calls from ARA or Financial Credit Services.
 20th of Jul, 2009 by   scammed in LF 0 Votes
I was almost scammed by this company also, talked with a Marie Keller from ARA and gave my checking account information to her for the "one chance only settlement offer" and to have them stop the court collection process that had been started. After I hung up with her and tried to track down this account my boss mentioned that hopefully it wasn't a scam. I plugged the name and address of the company into my search engine and low and behold there they were! I contacted my bank immediately and closed my account before they were able to get the money out, thankfully!
 8th of Jul, 2011 by   roadtriprandy 0 Votes
Yes I was contacted by the same people. They insisted I owed a loan for a school i never attended.
 8th of Nov, 2012 by   keith bb 0 Votes
I am receiving phone calls from this company stating that I owe on a charge card that was opened in 2000 and stopped paying on it in 2006, and I owe a balance of 1900.00, The person calling is very rude, and states he would report it to my credit report. I don't understand that if this bill was actually mine, why it has not shown up prior to now on my reports? 6 years later?
 16th of Sep, 2013 by   Wiser for knowing! 0 Votes
They're pestering us too for some debt that they found from years ago. My wife, being from Europe, almost feel for their "one time only opportunity" until we looked them up and found this site. Thank goodness we did! They were going to call back to get our bank account information. Now we know not to respond in any way, shape or form to them.
 18th of Jan, 2014 by   mary beers 0 Votes
I am receiving calls about an amount due to UOP for 433.00 but they will not send me verification thru the mail keep saying they sent an email nothing I refuse to pay until I have documentation of this debt and the amount agreed upon to settle it in writing threatened to have an attorney contact them . so tired of getting calls from them

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