JEFFERSON CAPITAL SYSTEMS, LLC Emblem*MasterCard Credit Card* St. Cloud Minnesota

I received a letter from them regarding an old debt that I owed from when I was young and dumb. They offered to help me re-establish my credit by granting me a credit card if I paid this old debt off. Everything went as agreed. I kept my end of the bargain, and they kept up theirs. After a few months of having the credit they increased my limit. This happened several times until President "0" got elected and now they no longer grant increases for some reason. I have had this card for over 3 years now and have never had an issue. If you pay your bills on-time, you should never have to speak to them. I actually have two cards from them and have had no problems with either of them. If you're complaining, then you have probably done something wrong...

I had the same reaction when I was presented with this opportunity that seamed too good to be true. However, I decided to give it try and it worked. Nearly 2 years later I have managed to boost my credit score by using this card and I have not had a problem with the Emblem card in any way. I'm certainly glad I decided to take this step.

I RECIEVED THE SAME LETTER AND I WENT AHEAD AND DID THE PROGRAM. OF COURSE I CAME HERE TO CHECK, AND I SEEN ALOT OF NEGATIVE FEEDBACK BUT I CONTUNIED ANYWAY AND I PAID OFF BOTH DEBTS I HAD WHICH WAS A IMAGINE AND A REWARDS 660 CREDIT CARD. THEY OFFERED ME THE SPECIAL CREDIT AND THE EMBLEM MASTER CARD THAT WAS 2 MONTHS AGO THEY DID EVERYTHING THEY SAID AND MY CREDIT WENT UP 4 POINTS AND I HAVE A CREDIT LIMIT OF 150.00 ON MY EMBLEM CARD THAT I PAY OFF AS SOON AS I CAN. THE PROGRAM WORKED GREAT FOR ME. NOW IF I HADEN'T OF DONE IT MY CREDIT REPORT WOULD STILL HAVE THOSE NEGATIVE BALANCES AND STILL BEEN ON MY REPORT. I WAS NERVOUS IN THE BEGININNG BECAUSE OF WHAT I READ, BUT THEN AGAIN I THOUGHT ABOUT EVERYONE TELLING BAD THINGS ABOUT THEM OF COURSE THERE NOT GOING TO TELL THE WHOLE SIDE IT COULD BE SPECIFIC REASONS WHY THIS HAS HAPPEN TO THEM MABY THEY DIDN'T FOLLOW THE GUIDELINES AND GOT FRUSTRATED OR THAT WHEN IT WAS TIME TO MAKE A PAYMENT THEY NEEDED THE MONEY FOR SOMETHING ELSE AND JEFFERSON CAPITAL TOOK THEM OFF THE PROGRAM ...SO I'M JUST SAYING LOOK AT ALL ASPECTS OF IT FIRST. NOT SAYING WHAT HAPPEN TO ME WILL HAPPEN TO EVERYONE BUT I'M GLAD I TRIED

from www.budhibbs.com

This is a bottom feeder debt buyer with alleged ties to the Hannah organization in Atlanta, GA

They purchase old debts for pennies, many out of statute, some that may have been discharged in bankruptcy,
then mark them up at huge profits and attempt to collect at highly inflated prices.

Previously, they have offered consumers the opportunity to reaffirm old debts through various debt buyer credit cards such as Majestic Visa, Aspire and the scam mailer offering EMBRACE VISA CREDIT CARDS' The disclosure information contained with the mailings is clearly aimed at deceiving and misleading consumers into thinking this is a good deal, the truth is this is as BAD a deal as anyone could possibly get involved in.

I reviewed this with my legal advisor, based on that we urge anyone being contacted by:

JEFFERSON CAPITAL SYSTEMS, INC.

ASPIRE VISA MAJESTIC VISA EMBRACE VISA

DO NOT EVEN CONSIDER THEIR SCAM OFFER!

IT STINKS, IT'S EXTREMELY COSTLY, IT WILL OBLIGATE YOU TO AN AGREEMENT THAT YOU MAY NOT EVEN OWE.

THE FOLKS AT AND ASSOCIATED WITH JEFFERSON CAPITAL ARE KNOWN SCAM ARTISTS WHO PREY ON UNSOPHISTICATED CONSUMERS.

DO NOT BECOME A VICTIM OF THIS SCAM.

Never EVER pay a third party collection agency

We dispute validated this company and they ignored us 3 times over a 120 day period. The letters were dated and sent certified registered mail with return receipt. The final and 4th letter was an intent to sue letter, followed by a delivered claim court summons to their address. They deleted from his Equifax CRA today. Still waiting on the others. We are still sueing though. Numerous FCRA and FDCPA violations for $5000 on an alleged $849 debt. Don't let these companies think that they can win. We are currently going federal for an additional $10,000 from this company. Collection companies think that they can insert without validating and by violation consumer protection laws enforced by the FTC, business laws enfoced by the BBB and the attorney generals of both states (MN and WY) and the United States Supreme Court ruling to protect consumers against predatory collection and consumer protection. I have made it a career path (secondarily) to make money off of collection companies to finance our future. They try it with us, so now we answer back. I am working with a "team" of bulldog attorneys now to bankrupt another collection agency and shut their business dorrs for good. Let me know if you would like assistance. :-)

FTC Sued Compucredit that runs Jefferson Capital LLC and took them for millions just last year. happy to share the web link via email if desired. DO NOT ACCEPT this offer. They cannot erase a debt if paid by law. I trust the FTC when they say...consumers stay away from Jefferson Capital LLC.

We dispute validated this company and they ignored us 3 times over a 120 day period. The letters were dated and sent certified registered mail with return receipt. The final and 4th letter was an intent to sue letter, followed by a delivered claim court summons to their address. They deleted from his Equifax CRA today. Still waiting on the others. We are still sueing though. Numerous FCRA and FDCPA violations for $5000 on an alleged $849 debt. Don't let these companies think that they can win. We are currently going federal for an additional $10,000 from this company. Collection companies think that they can insert without validating and by violation consumer protection laws enforced by the FTC, business laws enfoced by the BBB and the attorney generals of both states (MN and WY) and the United States Supreme Court ruling to protect consumers against predatory collection and consumer protection. I have made it a career path (secondarily) to make money off of collection companies to finance our future. They try it with us, so now we answer back. I am working with a "team" of bulldog attorneys now to bankrupt another collection agency and shut their business dorrs for good. Let me know if you would like assistance. :-)

FTC Sued Compucredit that runs Jefferson Capital LLC and took them for millions just last year. happy to share the web link via email if desired. DO NOT ACCEPT this offer. They cannot erase a debt if paid by law. I trust the FTC when they say...consumers stay away from Jefferson Capital LLC.

I originally had a Premier Bank Card credit card with a 400.00 limit. My credit was very bad, about a 434 score. I maxed the card out and didnt pay it. Jefferson Capitol Systems was the second agency to take over collection on the account that had reached 765 dollars or so due to over the limit fees and interest. I took the opportunity to take thier offer of paying them around 265.00 and then Monterey bank would issue me a credit card with a limit of 306.00. I of course had to pay the balance on the card down as well but the card was good. I still have my emblem card, although I never use it and it is paid down to a zero balance. Actually I have about 10.00 credit because I paid too much to them.

I would have to say that the emblem second chance card is a good opportunity for someone that has defaulted on a past debt and is trying to clean up thier credit. Thank you Monterey Bank and Jefferson Capitol for helping me repair my credit.

Yes the original balance is on file with the 3 credit agencies as a collection but then again, it was there anyway. Only now it shows a zero balance and closed.

I would like to respond to the response for this post.

First off I have to say that if a financial advisor told you to pay off an old debt by opening a new credit card, i very strongly suggest you find a new financial advisor.
It doesn't take much for one to realize that any company contacting you with threats of legal action for an old unpaid debt while at the same time offering you a new credit card is scamming you.

Second, you can handle this on your own. You mentioned Suze Orman and if you are a fan of hers would know that by going to www.annualcreditreport.com you can pull your credit report for free once a year. If you find that there are unpaid debts that you have, you can contact the company directly using the contact information on your credit report. No company will ever force you to sign up for a new program, especially more credit, just to pay your debts, all they want is their money.

I also recieved a letter from Jefferson Capital about an unpaid debt. The only problem was that the debt was paid in full and closed five years ago. I was able to prove this by pulling my credit report. When I contacted Jefferson Capital again only an hour later, before I could even inform them that I had obtained proof I was told that the offer had expired (in only an hour!) and they could not pull up any information on me.

These don't sound like ethical business practices to me which is why I have filed claims with the Better Business Bureau (www.bbb.org) and the Federal Trades Commissin (www.ftc.gov).

If you also do your research you will find out that the Federal Trades Commission has filed suit against Jefferson Capital back in April because of "Deceptive Credit Card Marketing." http://www.ftc.gov/opa/2008/06/compucredit.shtm

In short, if something doesn't make sense, go with your instincts. I'm very glad to hear that the original poster did not fall for this scam.

I must first admit to being irresponsible with my credit history starting when I was a college freshman, EAGER to get a free T-shirt or CD player in exchange for signing up for some amazing credit card. Of course, things got out of hand and 14 years later, I was in dire straights when attempting to purchase my first home alone. I decided to actively pursue repairing my credit files. I pulled all three reports and have kept up with "account transfers" over the years. The most recent letter I received about a certain account came from Jefferson Capital. As stated in the above complaint letter, it named the account, the last reported amount I owed, and a new plan to "fix it." I first verified the information they had in the letter with that on my credit reports and found it accurate (balance was of course slightly off). I then checked the BBB to see if there were any complaints and found none. I made contact with the company to verify the claims of a special credit along with the payment plan and then ultimately a new credit card. I discussed the plan with a financial advisor and we decided that considering my history, this plan might actually work! By this time, I had closed any credit accounts I had and was consigned to paying for purchases with cash, checks, or a debit card for the rest of my life.

I wanted to re-establish a positive credit history. So, I signed up for the plan. As promised, I faithfully made payments monthly, finally deciding to do auto-pay to prevent the monthly "reminder" call about payments. I made $561 in payments for 10 months. At the end, I received a credit for $468 towards the remaining balance of $1000+ dollars. I called customer service to make sure everything was ready to go.

By the way, in the meantime, I signed up with a credit repair service to work on the inconsistencies and paid off other creditors who in return, promised to remove negative information from my credit file. I also signed up for a year membership with Scorewatch under MyFICO.com as recommended by Sue Orzman who is a member of the Oprah Winfrey family. She has an XM radio talk show and writes a column in O Magazine about how to become financially stable and credit healthy.

Anyway, as my first letter from Jefferson promised, I received a new credit card from Emblem MasterCard via Monterey Bank. Activated the card, which was ready to use within 30 minutes with a new credit limit and a balance transfer. I plan to use the card wisely to re-establish good payment history and then, once it is paid off, I will keep the card open as recommended by most credit advisors to show a good credit limit to debt ratio. Most companies look at how high your current limits are and how much debt you owe towards them. The goal is 10%-20% of the limit, so if you have credit limits totaling $20,000 and owe $2000 total, you have a good ratio. But if you owe $10000, then your ratio jumps to 50% and you probably will not be able to get the more recognizable and respectable credit cards such American Express and Discover.

So bottom line, keep up with your credit reports and don't be afraid to challenge something you see. I am on my way to better credit and a new house because I did my research.