So, you’ve been contacted by RCS Capital Partners Inc about a debt. You’re probably wondering, is this a legitimate debt collection agency or some kind of scam? Let’s dive in and find out.
Who is RCS Capital Partners Inc?
RCS Capital Partners Inc is a debt collection agency located in Amherst, NY. They’ve been in business since 2015 and specialize in collecting on delinquent consumer and business debts.The company touts its “trained teams of collectors” who “work diligently and ethically to produce high liquidation rates.” They claim to act as an extension of their clients’ receivables departments.But is that really the case? Or are they just another predatory debt collector using unscrupulous tactics? Let’s take a closer look.
-Red Flags to Watch Out For
When dealing with ANY debt collector, there are certain warning signs to be aware of that could indicate a scam:
- Demanding payment for a debt you don’t recognize. If RCS is contacting you about a debt you don’t believe you owe, that’s a major red flag. Legitimate debt collectors are required by law to provide written verification of the debt if you request it.
- Threatening legal action or arrest. It’s illegal for debt collectors to falsely threaten you with lawsuits, jail time, or other consequences. If RCS resorts to such scare tactics, that’s a sign they may not be on the up-and-up.
- Refusing to provide written information. A reputable debt collector will have no problem sending you information about the debt in writing. If RCS is reluctant or flat-out refuses to do so, proceed with extreme caution.
- Pressuring you to make payments using untraceable methods. If the collector pushes you to pay via wire transfer, gift cards, or other hard-to-trace means, that should set off alarm bells. Legitimate agencies will accept standard payment methods.
Know Your Rights Under the FDCPA
The Fair Debt Collection Practices Act (FDCPA) provides strict guidelines that third-party debt collectors like RCS Capital Partners must follow. For example:
- They cannot harass you with repeated calls, use profane language, or threaten violence.
- They cannot lie about the amount you owe or falsely claim to be attorneys or government representatives.
- They cannot discuss your debt with third parties like your employer, family, or friends.
- They must cease contacting you if you request so in writing.
If RCS violates any of these rules when attempting to collect a debt from you, they are breaking federal law. You have the right to sue them for damages and attorney’s fees.
How to Protect Yourself
So what should you do if RCS Capital Partners contacts you? Here are some tips:
-- Request written verification. Within 5 days of first contacting you, RCS is required to send you a written “validation notice” stating the amount owed and to whom. If they don’t, request this information.
- Dispute the debt if necessary. If you believe the debt is inaccurate or not yours, inform RCS in writing within 30 days. They must then halt collection efforts until providing proof of the debt.
- Get everything in writing. Keep detailed records of all communications with RCS, especially any promises or agreements. Verbal assurances mean nothing.
- Set boundaries. Tell RCS when and how they may contact you. If their calls become harassing, send a “cease and desist” letter demanding they stop contacting you altogether.
- Know when to seek legal help. If RCS continues to harass you or violates the FDCPA, it’s time to find an attorney who specializes in consumer law. Many offer free consultations.
The Bottom Line
Based on complaints and reviews, RCS Capital Partners seems to operate like many aggressive debt collectors. They may skirt the boundaries of the law in an attempt to pressure people into paying.However, that doesn’t necessarily mean they are a scam. It’s possible the debt they are contacting you about is legitimate. The key is knowing your rights, standing your ground, and not letting them bully you into paying a debt you don’t actually owe.If RCS is harassing you or you believe they are acting unethically, don’t hesitate to file a complaint with the Consumer Financial Protection Bureau (CFPB) and your state Attorney General’s office. The more consumers speak out, the better chance there is of holding predatory collectors accountable.
Dealing with Debt? We Can Help
At <a href=”https://www.delanceystreet.com/” target=”_blank”>Delancey Street</a>, we understand how stressful and overwhelming it can be to deal with debt collectors like RCS Capital Partners. That’s why we’re here to help.Our team of experienced debt relief experts will work with you one-on-one to find the best solution for your unique situation. We’ll negotiate with your creditors, work to reduce what you owe, and help you get back on the path to financial freedom.