Question:
Dear Steve,
I received a letter stating that “:Their records indicated that my total bank card balance renegotiation has not been verified. Our underwriting department has pre-qualified me for this re-negotiation due to these specific qualifications…….
They state I owe $22,500.00. This is false. I don’t owe anyone that much money on any of my credit cards.
I feel I am being scammed, by:
PCG
P O Box 3109 #66587
Houston, TX 77253-3109
Customer Service # 1-877-383-3102
I called the company and told the guy I didn’t owe anything he swore at me.
Answer:
Thank you for sending me the letter you received. So let me share my opinion of this situation, it’s all bullshit.
The letter was sent from postal permit 507 in Santa Ana, California which has sent out other debt relief offers.
On a quick glance at the letter I had some knee-jerk concerns. First off is the fact the company is not identifiable.
Who is PCG and why are they using what appears to be a mail drop address?
The letter says a lot and nothing at all. It claims you owe money and does not provide any basis for how they came up with that figure. If it was gleaned from credit bureau information then, as recent court cases have claimed, it would be an impermissible use of your credit bureau information.
The letter claims to have an “underwriting department” but underwriting what? Underwriting is a process used in banking, preceding the granting of a loan. The letter is not a loan offer so what risk is the anonymous company taking on and accepting liability for? I’m going with NONE.
The letter claims to offer you a “restructured” balance but it looks like just a different way to say debt settlement. And the figure they claim is a number they “may also be able to offer” and nothing firm.
The fine print of the letter even says, “PCG does not guarantee to lower debts by a specific amount or percentage.”
In summery, the pitch looks like a hot mess and you might just want to do your own homework to check it out. Here are some links that might help.
I would recommend that anyone considering using such a company should read the following free guides.
- The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
- 10 Must Do Steps to Find the Best Credit Counseling or Debt Settlement Company for You
- How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off
Oh, and here was the envelope.
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
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Hi Steve, I just received the same pink letter today in the mail. I don’t have any credit card debt. We just paid off our credit cards. What’s creepy about this letter is the amount they have is pretty close to what we paid off. I’m going to check my credit score. To make sure we were not hacked.