Product: Debt collection

I was seeking additional funding for our small business and was contacted by several different XXXX representatives reached to try to assist in my funding. I received an email from XXXX XXXX XXXX ( XXXX ) XXXX XXXX stating that he had funding and I was approved on XXXX. He requested all of my personal information and that I Reply with the following - 1. Business bank statements from the last 3 months.

2. Picture of the front of your driver 's license.

3. Picture of a voided check or direct deposit form from your business bank account. 

After the information was submitted I received a call and email from a XXXX XXXX XXXX stating that I had been approved for the amount of {$17000.00} and that I would need to submit an ACH form to XXXX. After signing the document he disclosed how the " loan '' works. I spoke on the phone with XXXX XXXX he stated I would make 86 payments for an amount XXXX and then the loan would be paid off in full and closed. 

I was then instructed from XXXX representatives via email that the company who had approved my funding would send my " Loan Agreement '' to me to sign and my funds would be in my account on the next business day. 

I received an email from XXXX XXXX for my funding agreement on XXXX. I signed a document through Hello Sign which prompted me to provide an " electronic signature '' to quickly sign my name throughout the document and did not allow me to review the document. XXXX XXXX sent an email stating that all documents were submitted and I would get my funds within one business day. 

The funds that were agreed upon never entered my account. So I reached out to XXXX and stated that they never were received. They gave me contact information and on XXXX XXXX XXXX sent me an email stating that funds were delayed, no explanation was given and the amount they credited to my account was {$15000.00}. 

I then contacted and questioned why the amount was less than the agreed upon terms they simply stated it was an origination fee of {$1500.00}. I explained that XXXX had already collected that amount of {$1000.00} and why was the agreement different than what was originally agreed upon and that amount had cleared my checking account on XXXX. XXXX XXXX stated that was an " additional origination fee '' separate from theirs. 

I then receive this email : Funded Date : XX/XX/XXXX Funded Amount : {$17000.00} ACH Debit : {$210.00} *As of date : XX/XX/XXXX *Current Total Remaining : {$19000.00} *Current % Completed : 26 % *Estimated # of Debits Remaining : XXXX Please review your XXXX  Customer Portal Login to access and view all of your account history and ACH debits.

Thank you, Customer Support XXXX XXXX *Total Remaining reduces pending ACH debits from your balance. If an awaiting ACH debit is subsequently returned or rejected by your bank, your Total Remaining will be higher than displayed. Please review your XXXX portal online access to view all of your account history and ACH debits. 


I tried to access my " XXXX Customer Portal Login '' and could not obtain login information and assistance with this company. I called and stated that I had made all of the payments. I asked them to please explain what is going on and how we can resolve this issue. I then made the additional payment because I did not want to " default '' I received another statement from XXXX XXXX on XXXX. When comparing the two, there were significant discrepancies when I questioned the company representative about why the percentages and payments were stagnating and had no reflection of payments made. From XXXX until XXXX have paid 68 payments totaling {$14000.00}. They hung up and did reach out to me to resolve this matter. 

Since then, I have had non-stop spam calls where these individuals call and hang up at all times or try to offer me additional debt relief all day. I received a letter from the IRS stating that I may be a victim of I identity theft. This led me to check my credit report, where there have been several inquiries where someone used my information to get funding. I received an email on XXXX below from Recovery Solutions Group , LLC. 
XXXX XXXX XXXX XXXX, DE XXXX XX/XX/XXXX CREDITOR ... ... ... ... ... .... : XXXX XXXX  ACCOUNT # ... ... ... ... ... .. : XXXX PRINCIPAL BALANCE ... ... ... ... ... .... : {$16000.00} INTEREST ... ... ... ... ... ... ... ... .... : $ COLLECTION FEES ... ... ... ... ... ... ... : {$3300.00} TOTAL BALANCE DUE ... ... ... ... ... .... : {$19000.00} Dear XXXX XXXX XXXX XXXX This letter will serve as formal notice that the Pre-Litigation Investigation against your company and you personally is underway. In an attempt to identify a source of repayment to liquidate the claim referenced above, our investigation will encompass the following areas : 1 ) All of your business and personal banking, primary lenders, mortgage and/or lien holders , and leasing entities may be notified of this action. 
2 ) All-County, State and Federal authorities which enable or support your ability to bid or award you projects, allowing you to engage in commerce for profit may be notified of this action.

3 ) Any insurance or bonding entities that insure or bond your participation on all job site past, present or future, may be notified of this action.
4 ) All City , County, State and Federal tax authorities may be notified of this action.

5 ) A list of all your vendors, suppliers or credit grantors which gave you terms of payment past point of purchase, including but not limited to, all credit card companies and credit reporting agencies. 

Please contact my office immediately at XXXX to discuss an amicable resolution prior to exercising our client 's legal right to enforce payment for the balance in full, in addition to all applicable fees and/or costs. 

Yours Truly, XXXX XXXX Recovery Specialist This is an attempt to collect a debt. Any information obtained will be used for that purpose. 

I called to inquire on this matter, he stated to me that we could settle this debt today. I have to pay {$12000.00} in two months. This would be " done. '' I noted that this was a different amount then sent to me in the email above and why are none of the payments previously made did was not applied to the balance to go to the balance owed? XXXX XXXX XXXX then stated, " too bad because nobody regulates Merchant Cash Advances, and what we are doing does not apply to those regulations. Our company will take everything you have and seize all your personal and business. Assets and liens on everything you own. '' XXXX " approved my loan '' and outsourced my loan to XXXX XXXX after I accepted the terms disclosed through the original loan disclosure. XXXX XXXX emailed my account statement and reflected inaccurate records. With that account balance statement, I called and I questioned to try and settle the debt. Refusal to reconcile my account and pay my debt, they sent my loan to a " debt collector '' who now wants additional money to settle a debt. They sent my loan information to a debt collector who used threatening and a financial ruin tactics if I do not pay a debt at an increase when struggling to resolve the original loan debt.