Consumer complaint received 2015-03-25
Company: Collection Management Company
State: CA
Product: Debt collection
Sub-product: Other (i.e. phone, health club, etc.)
Issue: False statements or representation
Sub-issue: Attempted to collect wrong amount

Complaint:
XXXX which is now called XXXX XXXX, indicated that I owed them fees for servicing my account but did not stipulate which years they were talking about in an undated letter sent to me in XX/XX/XXXX. I invested my rollover retirement money with whom I thought was a legitimate investor, but it was nothing more than a Ponzi Scheme. Real money was wired into the account, but it ended up being only a worthless piece of paper. I lost most of the money that the broker took, but {$510.00} was still left in the account. In XX/XX/XXXX, {$1500.00} was added to make a total of {$2000.00}. I am a XXXX Veteran taken advantage of by someone who I thought was investing my retirement money to help me. Instead I was led to believe this investment was legitimate, but it was only a scam that took advantage of my ignorance of investing. 
XXXX XXXX, you sent me information for me to tell you what was in my account XX/XX/XXXX. This is after I contacted you, to ask you what funds were in my account in or around XXXX XXXX. One of your representatives told me that my account still showed it had {$11000.00} in it. I proceeded to tell the representative that I was told by XXXX XXXX XXXX, that there was nothing there because XXXX, XXXX XXXX had filed Bankruptcy in XXXX XXXX and was finalized in XXXX XXXX. XXXX XXXX said XXXX XXXX received this same information. The biggest question I have had for both XXXX XXXX and XXXX XXXX was why am I finding this out XX/XX/XXXX? Why was I not notified in XX/XX/XXXX? This lead me to believe that both were working together in this " Ponzi Scheme ''. I also have many questions and concerns about XXXX XXXX charging me fees for an account that is not even there. 1. XXXX XXXX, why was I not alerted about the possibility of something going wrong with my account before I reached out and contacted you? 2. How am I being charged fees for an account that has XXXX dollars in it especially when you were sent a copy of the bankruptcy by XXXX XXXX XXXX, XXXX in XX/XX/XXXX, that they had no assets for its clients? 3. A representative named, XXXX XXXX contacted me to tell me that I am supposed to tell XXXX XXXX what dollar amount that I actually had in the account, when I am the customer asking the same question? How much do I have in the account? Then you avoided my calls. 4. If XXXX XXXX was tracking the money, what was the last transaction made? 
5. XXXX XXXX, XXXX XXXX transferred {$10000.00} of money out of the account in XXXX XXXX on a promissory note, XXXX XXXX also adjusted the account later in XXXX XXXX saying the account was increased by {$1500.00} before XXXX XXXX, XXXX XXXX filed for Bankruptcy. How was the {$1500.00} transaction made? Did you just pencil that figure in or what was XXXX XXXX issued in order to make this transaction? XXXX. If {$1500.00} were added to the account, should not you have at least {$1500.00} of money in there to take care of your fictitious fees of {$610.00} you sent to collections in XXXX XXXX? Should not there be a copy of a wire of real money or some other trail sent to you in order for you to adjust the account with that sum? My lawyer sent a letter to try to sort this out, but you sent me to collections and said that I received {$11000.00} by sending me a XXXX and sending it to the IRS which is fraudulent because i did not receive any such money. 
" No Money was requested by me or No monies were sent to me by your organization. '' This statement was in the promissory note. I did n't ask for a payout or continue with another one year agreement. I thought this was the actual money in my account and not a worthless piece of paper. I asked XXXX XXXX to send me a fax of what I had in the account. They sent me the fax on XXXX XXXX, XXXX, with what I thought was true figures of income. I was under the impression that XXXX XXXX was doing the investing.

Company response to consumer: Closed with explanation