CKS Financial: How to Beat This Debt Collection Agency

It is very likely that CKS Financial will use every trick in the book to extort you into paying an alleged debt. They may even take you to court to get as much money as they can from you. 

There is no doubt that debt collectors and portfolio purchasers such as CKS Financial are the worst callers for consumers. They are aggressive, persistent, and sometimes abusive in their debt collection agencies and efforts.

To regulate the debt collection industry, the government has established laws. These laws can provide you with protection in cases of harassment and intimidation by debt collectors. The best way to defend yourself is to know your rights, defend yourself in a lawsuit, and force creditors to verify any any debt collection agency has against you.

Is CKS Financial a legitimate company? How does it operate? Let’s find out.

Is CKS Financial legit, and how does it operate?

In Chesapeake, VA, CKS Financial, also known as Webcollex LLC, collects debts from small to large portfolios and acquires individual bank accounts. The company’s motto states “never pass up the opportunity to evaluate fresh, primary, secondary, or aged portfolios available for purchase.”

This debt collection company is known by its trade name of CKS Financial, but in legal terms it is known as Webcollex LLC. As a result of legal concern, if you receive a call from a debt collector claiming to be from either company, please remember that they are one in the same. The debt buyers company will be referred to as CKS Financial for the purposes of this article.

Despite the fact that you may be surprised when your debt is handled by CKS Financial, this company is legitimate. CKS Financial has been in business since 2009. Though the company is not accredited by the Better Business Bureau (BBB), the bureau opened a file on law firm on 8/3/2010 and rated it B.

The following is the contact information for CKS Financial:

Address of the physical location:

CKS Financial
505 Independence Pkwy
Chesapeake, VA 23320-5178

Mailing address:
P.O. Box 2856
Chesapeake, VA 23327-2856
Phone: 800-984-3711
Email: [email protected]

CKS Financial has received lots of complaints

Over the past three years, CKS Financial has received 75 complaints on its BBB complaint page. The Consumer Financial Protection Bureau has also reported more than 270 complaints against CKS Financial in the last ten years, which is a considerable number.

The complaints include a variety of consumer disappointments, including credit reporting errors, failures to validate debt, and a reluctance to rectify and delete confirmed cases of identity theft.

Reviews of CKS Financial on the BBB average 1 star, as do reviews on Google from 15 customers.

Here is an example of a real complaint against CKS Financial, as listed:

“After being in contact with CKS Financial through my cell phone number and making 2 payments towards my debt, this company violated the FDCPA law and contacted me at my work number when I never gave them permission to do so. I stated on the phone that my cell was the only valid phone number to contact me on, however they called my work to try to collect a payment. I would like this investigated please.”

There is no doubt that the attorney’s fees for this complaint, along with court costs for many others, constitutes a violation of federal debt collection laws.

Those who have experienced similar situations should continue to fight for their rights. Do not feel bullied into paying a debt that is not yours. As soon as you have sorted out the fraud with the appropriate authorities, request the collection be removed from your report by CKS Financial. 

You have other rights in addition to disputing the debt.

The FDCPA protects you

In recent years, the Fair Debt Collection Practices Act (FDCPA) regulations have continuously improved. For instance, when Congress discovered that debt collectors were using unfair and abusive practices to collect money for a debt, the laws were revised to better protect consumers.

Currently, debt collectors are required to follow the law. If they do not by federal or state law either, you may file a complaint with the Federal Trade Commission or Consumer Financial Protection Bureau. You may also file a lawsuit against debt collectors who do not follow the law.

The following are some examples of prohibited practices by debt collectors:

• It is unlawful for debt collectors to harass you by threatening violence, publishing the names of alleged debtors, advertising the sale of debts to coerce payment, etc.
• Providing false or misleading information: A debt collector cannot falsely claim to be affiliated with the United States government; he or she must also accurately describe the type, amount, and legal status of the debt.
• Unless the law or the agreement creating the debt expressly authorizes it, a debt collector cannot charge you any amount, including interest, fees, or other charges. They must prove what they are asking you to pay and why.

Use a Debt Validation Letter to prevent a lawsuit

When any debt collector contacts you, ask them to validate all the account details. Send CKS Financial a Debt Validation Letter to stop collection calls. Upon receipt of your letter, the company has 30 days to provide documentation or cease phone calls and collection attempts.

It differs from the written confirmation of debt buyer you should receive within five days of contacting CKS Financial. This letter requests that CKS Financial report the debt as disputed and provide proof that the debt belongs to you.

For instance, Devone started receiving collection calls from a debt collector she didn’t recognize. Despite the fact that she ignored those calls for some time, she decided to check her credit report and noticed that this collection account had existed. Upon request of the collection agencies for proof of ownership, the collector removed Devone’s account from collections and marked it as paid. The credit reporting agencies then deleted the account flows mistake, resulting in Devone’s credit improving once more. It turned out that the debt collector had acquired her account as part of a large portfolio. However, instead of deleting her fully-paid debt, they attempted to make her pay again by mistake instead of deleting her fully-paid debt.

Beat CKS Financial in court

It is not uncommon for debt collectors to sue consumers for unpaid debts. When this happens, they will file a Summons and Complaint with the court and deliver it to you. It is the summons that notifies you of your lawsuit and outlines the court dates, while the complaint (also called a Petition in some states) details the specific claims against state and federal laws against you.

In order to obtain a default judgment against you, CKS Financial hopes that you will ignore the Summons and Complaint.

You have the right to prevent a default judgment from being granted. CKS Financial may be able to garnish your wages, seize your property, and freeze your bank account if a default judgment is granted.

The process of defending yourself against CKS Financial in court begins as soon as you receive the Summons. You have a limited amount of time to file your Answer with the court, usually between 14 and 35 days, depending on consumer law and where you reside.

Three simple steps are required to answer a debt or collection agency or lawsuit summons.

1. Respond to each claim in the Complaint document. You should state whether you accept, deny, or deny due to lack of knowledge to each claim. The majority of attorneys recommend denying as many claims as possible, forcing CKS Financial to provide substantial documentation and evidence in support of each claim.
2. If you believe you should be held liable for the debt, you should assert your affirmative defenses. For example, CKS Financial lacks the legal right to sue you or the debt is too old (past the statute of limitations).
3. You should file an Answer in a timely manner at the court. Even though the first two steps may seem demanding, submitting the Answer is perhaps the most important. You should also forward the Answer to CKS Financial’s attorney. All documents should be sent by USPS-certified mail with a return receipt. Your Answer must be filed before your state’s deadline.

It is only after filing an Answer that you are able to take additional steps, such as offering a Debt Settlement Agreement or using the Arbitration clause in order to force the lawsuit to be dismissed.

Glossary

• Debt Collection Agency: A company that specializes in collecting outstanding debts from individuals or businesses.
• Fair Debt Collection Practices Act (FDCPA): A federal law that protects consumers from abusive, deceptive, and unfair debt collection practices.
• Debt Validation Letter: A document sent by the debt collector to the debtor, providing information about the debt and the debtor’s rights.
• Statute of Limitations: The time limit within which a debt collector can legally sue a debtor to collect a debt.
• Credit Report: A record of an individual’s credit history, including debts, payment history, and other credit-related
• Credit Score: A numerical representation of an individual’s creditworthiness, based on their credit report.
• Telephone consumer protection act: The Telephone Consumer Protection Act (TCPA) is a law in the US that protects consumers from unwanted telemarketing calls and automated messages.
• Third Party Collection agencies: Third party collection agencies are companies that help other businesses collect on unpaid debts.

Frequently Asked Questions

• Q1: How do I know if CKS Financial is legitimately collecting a debt I owe?
• A: Request a debt validation letter from CKS Financial. This letter should provide information about the debt, the original creditor, and your rights as a debtor. Verify the information in the letter to ensure the debt is legitimate and within the statute of limitations.
• Q2: Can I negotiate a lower payment or settlement with CKS Financial?
• A: Yes, you can attempt to negotiate a lower payment or settlement with CKS Financial. Assess your financial situation, create a budget, and contact the agency to discuss possible payment plans or settlements. Make sure to get any agreements in writing.
• Q3: What if I don’t believe I owe the debt CKS Financial is trying to collect?
• A: If you don’t believe you owe the debt, you can dispute it. Start by identifying errors or inconsistencies in the debt validation letter, then file a dispute with the credit bureaus. Follow up with CKS Financial to ensure the dispute is resolved.
• Q4: Can CKS Financial sue me for an unpaid debt?
• A: If the debt is within the statute of limitations, CKS Financial can potentially sue you for the unpaid debt. If you’re concerned about legal action, consider seeking legal counsel from an attorney specializing in debt collection defense.
• Q5: How can I repair my credit after dealing with CKS Financial?
• A: Repairing your credit after dealing with a debt collection agency involves understanding the impact of the debt on your credit report, monitoring your credit report regularly, and developing a plan to improve your credit score. Consider seeking assistance from credit repair services or financial counselors if you need additional support.