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I had a Clout Visa Credit Card in 2005 that had a credit limit of $500.00. I was making payments on the account until all of a sudden the company disappeared. At that point I was unable to make payments because I was unaware of how to make the payments. There was no website or a phone number. In November 2008 I received a called from eastern asset management that stated that they have a balance from 2005 assoicated with clout visa. I proceeded to ask the representative what happened to the company and why are they just know getting in contact with me and she stated that the only collect the money for clout visa. The company the threatened to garnish my wages because they stated that i was asking too many questions that I just needed to pay the balance. i just need some advice as to what i need to do because as I was attempting to research Eastern Asset Management they were untraceable just like clout visa. Help Please!


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  • Ad
      Nov 17, 2008
    Clout Visa - Unfair Charges
    United States

    The company is charging me a ridiculous amount of money for an acount I believe I paid off about 4 years ago.

    0 Votes
  • Gw
      Dec 27, 2008

    not sure how it works in the states, but here they would only have 2 years to collect a debt, if they are just notifying you now 3 years later, they may be out of luck, i would look up your local laws to see if their is a time limit and other info that you may be able to use.

    0 Votes
  • Ti
      Feb 12, 2009

    Eastern Asset Management Corporation
    230 Park Ave
    New York, NY [protected]
    Phone: [protected]

    Try this number not sure if the number is good or not but this is all I can find and if you're state laws say after 2 or 3 years print them and send them to the company certified mail with a return receipt and put your account number on the letter and attach the statutes that should end the calls and mailing. At the same time send them a cease and desist letter via the same method and by law they have to respect it. If not then document each time they call or email or send you something in the mail and you can sue them in court for up 1, 000 per violation

    0 Votes
  • Te
      May 04, 2009

    In 2005 they sent me a Clout Visa Credit Card. I was still in high school and I didn't even know any better about credit cards. I don't know how they got my information. Well in 2006 is when I heard from them wanting some money. I explained that I got paid in like 5 days to wait and I would make a decent payment. Well they didn't wait they accessed my bank account and overdrew it. After that I told them I would not be making payments via bank accounts. Well after that I didn't here from them again. I asked that they send me something so I knew where to send a money order. Still nothing. Well here it is now May 2009 and I get a phone call that was supposedly a lawyers office. Well the supervisor got on the phone and was trying to make some kind of arrangements with me to keep it out of court. I was trying to be as polite as possible about the situation. Then this guy starts calling me a looser and talking bad about my family. He even went as far as telling me I needed to go to Jerry Springer. Well I get online and try to find the credit card company because of course at this point I am fuming. And to no avail I can't find anything I don't think this company even exists. I think it is a scam to get money somehow.

    0 Votes
  • Sa
      May 07, 2009

    I got a clout visa card in 2004 My senior year in year school and i was making payments on the acct then all of a sudden the billing statements just stopped. Then in Feb of 2009 i received a call from eastern asset management telling me i had this dept then card limit was for $800 and they told me i owed at little over $3, 000 and i asked them why am i just now being contacted th gentleman i was speaking said just cut to the point you owe the debt pay you can buy a car you can pay my money! He told me if i did not set up payments today they will start the garnishment process on my check, so i set up payments and he told me he would send my information to me of the payment arrangements that we set up so i will something to go in my file, well i never received this so called paperwork so i called the company back and informed them i will stop payment until i receive my paperwork and the younglady i spoke with cussed me out and said i was trying to avoid paying them there money and they will just take this to court, i said fine that's what i would rather do that was in March of 2009 i have not received any court papers This company just continues to harass me they call every other day telling me they will have my license suspended with the dmv, i will serve one year in prison, and the price has changed now i owe them $5, 000 plus court fees. I just wnat this to stop i have been researching this company an dall i find is bad thing then i can not find any information for clout visa I know this is some kind of scam some how because they will give you now information when you ask for it. I have no problem clear the bill but i don't even have this company on my credit report I just want the harassment to stop, what can be done about this if anyone knows please help!!!

    0 Votes
  • An
      Jun 01, 2009

    My girlfriend is going through the same thing right now w/ the same companies. What ever happened? If you have any answer please let me know. My name is Anthony and you can email me @ [protected]

    0 Votes
  • De
      Jun 10, 2009

    I just started recieving these phone calls as well. I initially had a $300 credit limit with Clout Visa. I made payments until again, the statements stopped. Now they are trying to tell me that I owe $2200 in fees and past payments. I initially recieved the card in 2002 and had it only for about a year and a half or so until the payment stopped. They are now calling and harassing me about the same thing - criminal charges for theft of services, jail time, my credit score going down, etc. I set up a payment plan and gave them my checking information. I also asked that I be sent a written notice of intent for my records, which never came. I called in and asked them to stop the check for the first payment - I had withdrawn the money from my checking to prevent them from getting to it. Now, they call me several times a day and are threatening to subpeona me. Does anyone have any idea how I can go about rectifying this? My email is devika.[protected]

    0 Votes
  • Mi
      Jun 12, 2009

    I had the same problem, this morning was my first call from a laywer that said I was going to incur criminal charges. and my aunt told me to check it out online before I call them back. So far I haven't even found the old login I used 6 years ago, (once) because I didn't want the card and never used it.

    Anyone can help, I'm [protected]

    We should start a group and sue them together or something.

    0 Votes
  • Ir
      Jul 07, 2009

    I too am also getting harassed by Portfolio Recovery Associates, LLC. I was making payments up until 3/2007. I like everyone else began to look up the company so I can continue to make payments. A year and a half later the harassment begans. Now Portfolio Recovery is telling me I am going to be sued and that MBNA/Bank of America received my account before it went into collections. I dont know what to do.

    0 Votes
  • Jj
      Jul 13, 2009

    Clout was bought out by Bank of America. Everyone should have been informed, but if you weren't receiving statements from BOA, then I think rightfully it should be their fault. That's not to say that legally it is viewed as their error; banks are sneaky. As far as the harrassment, that sounds like a Debt Collector. BOA probably sold your debt. Debt collectors will belittle, harrass, and even lie to get you to pay your debt. I'm not sure what legal action they can actually take against you, but definitely don't just assume they have to tell you the truth.

    0 Votes
  • El
      Jul 22, 2009

    omg, I cant believe there are other people with the same problem. I was trying to track down my debt with Clout Visa and was unsuccessful. At one point I "mysteriously" overdrafted on my Bank of America checking account by almost $2000 and never really knew why. I know it was ridiculous but could never determine why. Not until today when I started to read all your postings that now it makes sense. I dont owe visa anymore, I owe BOA. No wonder I had that overdraft on my account, I dont know who the debt collector was but they took it out of my checking account to relieve the Visa debt. I was oblivious to this since 2005 when I couldnt make payments and tried to contact Visa and couldnt get anywhere with them. If anyone has a definite answer on what to do, please post, we need to help each other out.
    Plz!! Help!!! cesar.[protected]

    0 Votes
  • Ma
      Aug 07, 2009

    This is crazy!! Everything you guys have said, i've gone through. Since I didn't know what happened to my account, I had a balance of $4, 976!!! However, I ended up paying mine off to a Southern Capital Associates but those guys never sent to the credit bureaus that I paid them, so 3 months later (may 2009), Eastern Asset Management contacted me and told me that I owed the $6, 000 even though i had proof that i paid off my bill through Southern Capital!!! they ended up cutting me a deal so i paid them $3, 500. Now i got a lawyer and taking them to court to get my money back!!

    0 Votes
  • Un
      Feb 09, 2010

    Holy crap, this is starting to freak me out. Last Friday, Feb 5, 2010, i got a call from a "lawyer" guy saying he had some files on his desk && was wanting to subphena me to court if i didn't call him back asap. Well i never heard my phone ring, && by the time i got the msg. i guess their offices were closed. I spent all weekend with a headache trying to figure out what this was all about. Come to find out Monday it's about a Visa...i've never in my life had a credit card, but i do remember having one all long time ago through Clout. That was in 2002 when i didn't even know much about credit cards, they just sent me one. Anyway, when i spoke to the lady she said my balance was 5, 000 and some change due to all the interest. Well she said she would settle with me for 2, 200. I told her i would talk to my husband && get back to her befor 3 like she told me to. Well i called her back at 1 && she told me i have bad news for you, we had a meeting and told them you were willing to pay but now they want 2, 700 to close your account. I was mad, but scared at the same time. I don't live in the state where i had this card, && them wanting to take me to court - i just wanted to deal with it && pay it. So i put up a payment plan. 2 payments total. 1, 000 for this month, 1, 700 for the next.

    Well the odd thing now, is the next day i get another phone call, from a different person. She says she's trying to collect debt on a Visa. Well once again, i've never had a credit card besides through Clout. && I'm not lieing. Well, i asked her what the balance was && she said it was only 3, 000 and some change. Well in my head i'm life WTF...i've only had one Visa && they told me the balance was 5, now i'm freaked out, i told her about my situation && that i took care of it the day before, so she noted it all...btw she was pretty rude about it. Are we being scammed. If Clout doesn't even exisit anymore, why do we have to pay...especially after not hearing from them for sooo many years...with all this interest - it's not fair!!!

    0 Votes
  • Ba
      Apr 26, 2010

    I too opened an account in 2002. And it is still on my credit report for me owing 4400$ Clout no longer exsists. They were a scam. It hink we all need to report to the BBB and fight against our credit reports. DO NOT let the callers scare you though. All it will do is mark negativly on your Credit Report and score. They are scaring you people into paying. And if you offer to pay what you can, and they won't accept it, then too bad for them. And they do not have to right to be rude and cruel to us just because we owed a company that is no longer in existance. That is their way of making their extra few pennies. Also, I want to SEE proof of all this stuff. I wouldn't pay a lick until they sent PAPER work prooving everything and prooving it was going to be removed for good.

    +1 Votes
  • Lo
      May 08, 2010
    Clout Visa - Crazy Fees
    Clout Visa
    United States

    This company, which is now bank of america, engages in predetory practices with young, financially ignorant consumers. They will ruin your credit.

    0 Votes
  • Lc
      May 18, 2011

    I had the same problem with Clout Visa. They called me my senior year in High School with a $500 credit limit. I took it since I was going to need money for my senior trip. My mother and I were making payments then the statements stopped. Eastern Asset Management called me in 2008 and told me that I owed 5, 000 but they would settle for $720 or so. I paid it and told them to mail me a receipt. Of course I never got a receipt but I wrote down the name and confirmation number that the rep gave me. Something has to be done!

    0 Votes
  • Ko
      Apr 20, 2012

    The same way it's true even though you called BoA help line and asked about your account, was told it no longer existed and then called by a collection agency two years later.

    0 Votes
  • De
      Jul 23, 2013

    Clout is now employing the service of PN Financial to recover money that is still apparently owed to them. Another company contacted me 2 years ago but could not send me a letter of intent nor validate the debt that I had. This new company has picked up where the other company left off! A Ms. Anderson called me about a debt from 2002 that I had with Clout Visa. She stated that the account was charged off in 2008 and that if I didn't pay over $600 she would file a notice of some sort. Additionally, she started threatening to put the old debt back on my credit report unless I could provide proof that I paid it. I asked her who keeps records for a debt that was paid off over 8 years ago and she said that people who pay their debts keep records of it. So I told her to go ahead and place it on my credit report and she hung up on me. All this after leaving a creepy message that it was important and I needed to contact her immediately.

    0 Votes
  • Tj
      May 17, 2014

    Wow, I just received a letter from Dynamic Recovery Solutions asking that I pay CLOUT Financial Services. They didn't ask to confirm the debt or anything. Anyway, I know this was charged off and I paid the company. It was literally over 10 years ago, so I have no proof of this and I'm not sure what to do, except contact my credit report and see if they can show me the charged off account and show it was paid. I have since cleaned up my credit, bought a house and everything and in 2014, I get a letter from them saying I owe money. Not that I owe the less than $1000 that was my limit, but $4621.88 - and I need to pay this ASAP. Not happening. There has to be some sort of statue of limitations about this debt. It would clearly have been off my account by now. However, I will take this to court, because I know this was charged off and I know I paid it.

    0 Votes
  • Le
      May 23, 2014

    Has anyone came to a conclusion on how to handle this? I have been dealing with this for over 10 years. I got my visa from Clout when I was a senior in high school. I was making all of my payments and then all of a sudden I never heard from them and apparently they were sold to BOA. Well in 2007 I got a call from Southern Capital telling me I had to set up payment arrangements. At that time I wanted to clean up my credit so I agreed to the payment plan and gave them my account number to auto pay every month. I did get a statement every month but that was the first time I had ever dealt with anything like this so I didn't keep my receipts. When I was done paying it off I never heard from them again. Then in 2012 I got a call from another collections agency saying they were collecting debt on my clout visa card. WHAT?!?! I paid that off 5 years prior and hadn't heard anything about it since. Apparently southern capital just took my money and never reported it to my credit files. Luckily my bank had all of my records so I was able to show proof to them that I had paid it off and also disputed it with all three credit reporting agencies. So it is no longer on my credit and I haven't heard anything again...until today. I got another statement from dynamic recovery systems requesting payment. It's not even on my credit anymore but I'm afraid that they are going to re report it to my credit. Can anyone help point me in the right direction?:( My email address is [protected] thanks in advance

    0 Votes

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