BBB Accredited Business since

SquareTwo Financial Corporation

Phone: (877) 304-0146 4340 S Monaco St Unit 2, Denver, CO 80237 http://www.squaretwofinancial.com


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BBB Accreditation

A BBB Accredited Business since

BBB has determined that SquareTwo Financial Corporation meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.


Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised the rating for SquareTwo Financial Corporation include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 7 complaint(s) filed against business
  • Resolution of complaint(s) filed against business


Customer Complaints Summary Read complaint details

7 complaints closed with BBB in last 3 years | 3 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 7
Billing/Collection Issues 0
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 0
Total Closed Complaints 7

Customer Reviews Summary Read customer reviews

0 Customer Reviews on SquareTwo Financial Corporation
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Additional Information

BBB file opened: July 25, 1996 Business started: 02/28/1994 Business started locally: 02/28/1994
Licensing, Bonding or Registration
Many local municipalities, townships and counties have registration, bonding and/or licensing requirements. The BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

Permit and license requirements for regulated industries in the State of Colorado can be viewed at the following website:

http://www.colorado.gov/pacific/dora/licenses-and-permits-0

To view the registration of a business with the Colorado Secretary of State click below:

http://www.sos.state.co.us/biz/BusinessEntityCriteriaExt.do

Licensing, Bonding or Registration

This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Colorado Attorney General Consumer Protection
1300 Broadway, 7th Floor, Denver CO 80203
http://www.ago.state.co.us
Phone Number: (720) 508-6000
attorney.general@state.co.us

Type of Entity

Corporation

Business Management
Ms. Blair Drake, Manager of Complaints and Disputes
Contact Information
Principal: Ms. Blair Drake, Manager of Complaints and Disputes
Business Category

Collection Agencies

Alternate Business Names
CACSI
Products & Services

debt buyer

Industry Tips
Collection Agencies

Additional Locations

  • 4340 S Monaco St Unit 2

    Denver, CO 80237 (877) 304-0146

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BBB Customer Review Rating plus BBB Rating Overview


BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

Complaint Detail(s)

1/29/2016 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: Fraudulent **** ** *******/SquareTwo account is reporting on my file Fraudulent **** ** ******* account is reporting on my file. I have disputed this account several times with BOA, and through CFPB- and they have responded that I need to dispute it with SquareTwo Financial- who currently holds the account even though BOA is reporting it. I have reached out to this company several times and have not received a response within the state and federally mandated 30 calendar days.

Desired Settlement: i want this BOA account deleted from my credit file.

Business Response:

 

Thank you for bringing this matter to our attention.  CACH, LLC (“CACH”) is a passive debt buyer.  Although CACH does not initiate collection calls or generate demand letters, it places accounts for collection with its network of branch offices. 

The account at issue is a charged off consumer credit card.  CACH purchased the account from FIA **** ** ******* on or about January 31, 2013.  The information provided at the time of purchase indicates that ****** ** ****** opened the account on March 2, 2006.  The last payment on the account was made on April 26, 2010 and the account was charged off on September 30, 2010.

On or about April 18, 2013, CACH received notification from the three credit bureaus to which it reports that the consumer had disputed CACH’s tradeline on the basis of fraud.  CACH notated the disputed status of the account, performed an investigation into the consumer’s dispute, and responded to the bureaus with the results of its investigation within the timeframe prescribed by law.  On April 19, 2013, CACH made a business decision to close the account due to fraud and delete its tradeline from the consumer’s credit report.  With regard to the consumer’s concerns regarding the original creditor’s tradeline, please note that CACH is not affiliated with the original creditor and therefore cannot take any action with respect to the manner in which they are reporting the account.  We encourage the consumer to contact the original creditor directly should she have any concerns about its tradeline. 

On or about December 14, 2015, CACH received a written dispute from the consumer.  On or about January 11, 2016, CACH sent a letter to the consumer informing her of the closed status of the account. A copy of CACH’s letter is attached for your review.

Please let us know if you have any questions. 

1/18/2016 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: CACH(Square2 Financial) refused to respond to my settlement offers as a tactic to frustrate and intimidate me into paying a higher debt settlement. CACH, LLC (Square2 Financial)ignored and refused to respond to my two debt settlement offers sent by certified mail in order to frustrate and intimidate me into paying an excessively high one-time, lump sum settlement for an old, charged-off debt. CACH open collection action is damaging to my credit profile; and CACH delay and refusal to respond to my debt settlement offers has impacted my ability to access meaningful employment and credit. I made two reasonable and fair debt settlement offers by certified mail of 18% and 25% respectively of the old, charged-off debt that provides the collection agency with a good profit margin considering CACH purchased this zombie debt at 8%. I find CACH, LLC collection practices abusive, opportunistic and "greed motivated."

Desired Settlement: My debt settlement offers were sent by certified mail to CACH, LLC in July 2015 and September 2015. Considering CACH, LLC had sufficient time (90 days) to consider and respond to my reasonable and fair offers to settle this zombie debt, I request the outstanding debt be settled for 25% ($129.62), and for the removal of the debt collection record from my credit report.

Business Response: Thank you for bringing this matter to our attention. CACH, LLC ("CACH") is a passive debt buyer. Although CACH does not initiate collection calls or generate demand letters, it places accounts for collection with its network of branch offices.

The account at issue is a charged off consumer loan. CACH purchased the account from ********** ********* on or about December 16, 2014. The information provided at the time of purchase indicates that ***** ** ****** opened the account on December 27, 2012. The last payment on the account was made on June 28, 2013 and the account was charged off on December 13, 2013. At the time the account was placed on our system the balance was $518.49. No interest or fees have accrued on the account since that date.

The account was placed for collection with ***** Law ("*****") on May 1, 2015 and an initial notice letter was sent to the consumer on or about May 2, 2015.

On July 20, 2015 and September 4, 2015, CACH received letters from the consumer offering to settle the debt for $92.24 and $129.50, respectively. Both offers are significantly lower than CACH's designated settlement threshold for the account and therefore cannot be accepted.

Contrary to the consumer's allegations, our account records and phone call recordings indicate that neither CACH nor ***** used "tactics to frustrate and intimidate" the consumer into paying a higher amount to settle the account. Nor do our records support the consumer's claim that CACH and/or ***** used "abusive" collection practices as alleged.

The account remains placed for collection with ***** and the current balance is $518.49. Should the consumer have additional questions or wish to discuss additional payment options, we encourage him to contact ***** directly at toll free (************.

Please let us know if you have any questions.

Consumer Response: (The consumer indicated he/she DID NOT accept the response from the business.)
Unfortunately, I received no responses from CACH, and as a consequence, I concluded CACH was unwilling to resolve this matter. Furthermore, I received no correspondence from ***** Law. It's my expectation that I would had received a response in writing since the two settlement offers were detailed and provided in writing.

I am still motivated to resolve this outstanding debt in a single lump payment, and have submitted a modified 3rd offer in the attached letter. My preference is to receive CACH's or ***** Law's response in writing for my confirmation and my records. I do not have the capability of recording a telephone negotiated settlement which places me at a decisive disadvantage.

I detailed the terms and conditions for my two past settlement offers, and with regards to the attached 3rd offer, I provided additional considerations and insights for my new modified offer.

Upon received written acceptance of my new settlement offer, I will remit payment promptly to bring this matter to resolution. (CACH 3rd Settlement Offer.docx)

Business Response:

Thank you for forwarding the consumer’s additional concerns.

 

With respect to the consumer’s allegation regarding not receiving correspondence from ***** or CACH, on or about August 28, 2015, CACH received a letter from the consumer requesting that we cease all future correspondence with him.  On that same date, CACH notated the subject account to ensure that no further correspondence would be sent to the consumer.  A copy of the consumer’s letter is attached for your review.  

 

On January 7, 2016, ***** received an inbound phone call from the consumer during which they discussed potential settlement options on the account.  On that same date, ***** and the consumer reached an agreement to settle the account for less than the full balance.  The payment satisfying the settlement agreement is due on January 22, 2016.  If CACH receives the scheduled payment by its due date, the account will be closed as settled in full for less than the balance.

 

Please let us know if you have any questions.   

Consumer Response:
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

***** ******

11/4/2015 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: Agency has reported a debt of $1176.00 incorrectly to my credit report; Unable to provide full itemization or validation of debt but will not remove. While reviewing my credit report from ******* & *********** I see that there are two outstanding accounts from **** of ******* that I do not recall opening. I believe these accounts are billed to me incorrectly am requesting to have the accounts removed from my credit report in its entirety. I have reached out to the collection agency ***** *** who reported the account and was advised the debt was SOLD to Square Two Financial. I contacted this collection agency as well and never received a response OR validation of debt as requested that includes date of opening, date of closure, interest charges accrued and all transactions that make up the balance. Without this validation, I believe the accounts reported fraudulent and ask that both be removed from by credit report in accordance with ****** **** and other federal debt collection statues unless validation can be provided which includes : The Name/Address of the Original Creditor The Original Amount of the Alleged Debt How much you bought the Alleged Debt for The Date of Purchase of the Alleged Debt An itemization of the Original Debt and any Interests & Fees added to the total Alleged Debt

Desired Settlement: I request the accounts be removed from my credit report as the debt has not been validated and I do not believe I owe this balance. Please provide : The Name/Address of the Original Creditor The Original Amount of the Alleged Debt How much you bought the Alleged Debt for The Date of Purchase of the Alleged Debt An itemization of the Original Debt and any Interests & Fees added to the total Alleged Debt If the requested information cannot be provided, I assume this debt is error and request that it be removed from my credit report completely to avoid violation of FDCPA, FCRA or other federal debt collection statutes.

Business Response: Initial Business Response /* (1000, 5, 2015/11/02) */ Thank you for bringing this matter to our attention. CACH, LLC ("CACH") is a passive debt buyer and a wholly owned subsidiary of Square Two Financial Corporation. Although CACH does not initiate collection calls or generate demand letters, it places accounts for collection with its network of branch offices. CACH owns the two accounts at issue in the consumer's complaint. ************ The first account at issue is a charged off consumer credit card. CACH purchased the account from *** **** ********* ** on or about July 20, 2010. The information provided at the time of purchase indicates that ****** ** ****** opened the account on February 2, 2008. The last payment on the account was made on November 5, 2009 and the account was charged off on June 30, 2010. CACH received a written dispute and request for verification of debt from the consumer on May 21, 2015. On that date, CACH placed a hold on collection activity relating to the account and requested additional account documentation from the original creditor. Please note that CACH requested deletion of its tradeline on the account on September 15, 2013. ************ The second account at issue is a charged off consumer credit card. CACH purchased the account from *** **** ********* ** on or about July 21, 2010. The information provided at the time of purchase indicates that ****** ** ****** opened the account on December 8, 2007. The last payment on the account was made on November 5, 2009 and the account was charged off on June 30, 2010. On May 21, 2015, CACH received a written dispute and request for verification of debt ("VOD") from the consumer. On that same date, CACH placed a hold on collection activity relating to the account and requested additional documentation from the original creditor. VOD was provided to the consumer by CACH's branch office, ***** **** ****** on July 10, 2015. Please note that CACH requested deletion of its tradeline on the account on June 21, 2013. A copy of FSG's July 10th letter is attached for your review. In light of the age of the accounts and the consumer's continued disputes, CACH has made a business decision to close the accounts in the spirit of good customer relations. No further monies are owed. Please let us know if you have any questions. Initial Consumer Rebuttal /* (2000, 7, 2015/11/03) */ (The consumer indicated he/she ACCEPTED the response from the business.)

12/31/2014 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: Cach has me turned in to the credit bureau for $33.00! I have been a member for **** ***** ****** ***** ****** ******* since 1993. 21 years! **** Curtomer # 146YcXXXXX Acct Serial # XXXXXXXXXXXX

Desired Settlement: I want a letter of apology to me and a letter to the credit bureau explain I was turned in due to error

Business Response: Initial Business Response /* (1000, 5, 2014/11/28) */ Thank you for bringing this matter to our attention. CACH, LLC is a passive debt buyer. Although it does not initiate collection calls or generate demand letters, it places accounts for collection with its network of branch offices. Our records indicate that the subject account was sold to CACH in error and therefore recalled by the original creditor, Capitol One, N.A., on November 26, 2014. The account has been closed on our system and we will request deletion of our tradeline from the credit bureaus to which we report. Please let us know if you have any questions. Initial Consumer Rebuttal /* (3000, 7, 2014/12/03) */ (The consumer indicated he/she DID NOT accept the response from the business.) Can I have a copy of the letter to the credit bureaus? It is still on my credit report. Final Business Response /* (4000, 9, 2014/12/04) */ Thank you for forwarding the consumer's additional concerns. Please note that CACH requested deletion of its trade line from the credit bureaus to which it reports on December 2, 2014. A copy of the relevant deletion form submitted to the bureaus is attached. Please let us know if you need additional information. Final Consumer Response /* (4200, 16, 2014/12/31) */ This should not be closed..... I don't have anything from the company saying it will be closed. There is a universal data form uploaded. I have no idea who or where it came from. I would like something on letterhead stating this issue was resolved. I have no idea what the attached info is????

4/30/2014 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: Have not been able to contact. Reporting to my credit inaccurate amounts and more than once. Have called several times on hold for 30 mins to an hour with no answer. Has reported a false amount to my credit $650.00 when debt they bought was for $163.00 and reporting acct that has already been reported by original lender. Have received no validation letter as required by FDCPA. Would like to resolve but no one answers the phone. They are a collection agency that doesn't want people to pay them I guess. Anyways their reporting to my credit is having an adverse affect to my credit score and interest rates.

Desired Settlement: I want their credit reporting to be completely report from my credit since this account has already been reported by the original lender. I will be contacting and filing a complaint with the FTC and CFPB.

Business Response: Initial Business Response /* (1000, 5, 2014/04/24) */ Thank you for bringing this matter to our attention. CACH, LLC is a passive debt buyer. Although it does not initiate collection calls or generate demand letters, it places accounts for collection with its network of branch offices. We have two accounts in our data base for a Tennessee resident individual with the name **** ******. However the consumer's address on his complaint does not match the address associated with the two accounts. Moreover, the dollar amount stated by the consumer in his complaint does not match the current balances owed on either of the accounts, one of which is a judgment account and the other is an account that had a $747 balance owed when it was purchased by us in 2012. Please have the consumer provide us with the our account number or the original account number for the account that he is concerned about or provide us with the last four digits of his social security number. Upon receipt of that information we will look further into his concerns. Sincerely, **** ****** Associate General Counsel Initial Consumer Rebuttal /* (3000, 7, 2014/04/28) */ (The consumer indicated he/she DID NOT accept the response from the business.) I do have account. Credit report shows acct# XXXXXXXXXXXX GE Money Retail Bank as the creditor. Balance date 06/2013 Balance amount $650. Date of 1st delinquency is 07/2011. Balance owed is actually $163. I didn't live in Tennessee back then. Final Business Response /* (4000, 9, 2014/04/29) */ Thank you for forwarding the consumer's rebuttal. We were able to locate the consumer's account with the additional information he provided. The account at issue is a GE Money Bank Account pertaining to a Chevron and Texaco consumer credit card account that was opened on July 17, 1997 and charged off on March 12, 2012. The original account number was ***************** The last payment date on the account was 12/14/2011. According to the information provided to us by the original credit the balance owed on the account at the time of charge off was $650.05 and the balance owed on the account at the time it was placed on our system was $650.05. We have not charged any interest to this account. Our records indicate the consumer was sent an initial demand letter on May 17, 2012 to the consumer's Austin TX address. Follow up letters were sent on June 17, 2012 and August 2, 2012. On November 28, 2012 the consumer requested that he no longer receive any verbal communication regarding the account. The account was marked as being on notice for no verbal communication and the consumer's phone number was removed from the account. The account is currently not placed for collection. We have made a business decision to close this account under our Fair Square Promise Principals. We will request that our trade line for the account be deleted. The account is closed and no monies are owed. Final Consumer Response /* (2000, 11, 2014/04/30) */ (The consumer indicated he/she ACCEPTED the response from the business.) I accept this resolution and will continue to review my credit report from all 3 major credit reporting to make sure trade line has been deleted. Thanks

4/1/2014 Advertising/Sales Issues
3/14/2014 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: I have called Square Two Financial for weeks now I'm always on hold for at least 15 minutes before a live person comes on the line When I finally got a live person I find out my account has been sold to another company so I called that company & they tell me they don't have anything on it & when I called back to Square Two Financial the "customer service" rep was extremely rude & kept saying It's been sold to another company they have everything on it. When I tried to explain that they didn't have anything she kept saying it's been sold to another company.

Desired Settlement: I want this removed from my credit report, it's hurting my ability to finish my home loan. I've spent days on the phone trying to get someone to talk to me about this without any luck

Business Response: Initial Business Response /* (1000, 5, 2014/02/07) */ Thank you for forwarding the consumer's concerns. We have an account in our data for a ***** ***** but the address does not match the address provided by the consumer. Please have the consumer provide us with either our account number, her social security number or the original account number for this account and we will use that information to look further into the consumer's concerns. Sincerely, **** ****** associate General Counsel Final Consumer Response /* (4200, 23, 2014/02/24) */ (The consumer indicated he/she DID NOT accept the response from the business.) No I've called the Lowry Law Firm numerous times only to be told they DO NOT have an account under my name/SS# or account number provided by Square Two Financial?? Final Business Response /* (4000, 26, 2014/02/27) */ Thank you for forwarding the consumer's additional concerns. A copy of our letter will be sent directly to the consumer. In addition, the law has sent the consumer a letter as well. Sincerely, **** ******


Customer Review(s)

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