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Q: I was recently contacted by RJM Acquisitions about a debt I owe. To my knowledge, I don’t have any debts. Is this a legitimate company because I’ve never heard of it. What should I do?
A: Yes, RJM Acquisitions is a debt collector, run out of Syosset, New York. They purchase debts from other companies and then collect these debts.
They are a legitimate business, but they have many complaints written about them.
Some of the complaints have said that after a customer pays off a debt, RJM takes many months to report this to the credit agencies. People have also received calls or letters from them trying to collect debts that they did not owe, or debts that they have already paid.
On the other hand, they do not have any complaints filed with the Better Business Bureau.
They have also received some positive reviews, stating that they have helped customers raise their credit score, or that they did not say anything when they missed a payment or two.
Other customers have had neutral experiences; they were not hassled, but they were not granted any leniency either.
If RJM Acquisitions contacts you about a debt you owe, first ask for validation that they are legally allowed to collect the debt from you.
If they provide proof that they have purchased this debt from your original creditor (such as a contract), then you are legally required to pay them. Keep records of these payments in case they take too long to report that your debt is paid off, or claim that you have not paid it.
If they are contacting you about a debt you do not owe or one that is past the statute of limitations, write a letter to them informing them that you do not owe this debt.
You can find the statute of limitations for your state with a quick online search.
If the faulty information is on your credit report—and it probably is—you must also send a letter to each of the major credit reporting agencies (Equifax, Experian, and TransUnion) informing them of the error.