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Paramount Capital Group, Inc.

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Reviews Paramount Capital Group, Inc.

Paramount Capital Group, Inc. Reviews (16)

On 1/31/2013, Paramount sent a letter to *** making him an
offer of a discounted settlement on his loan.
His balance as of the last payment applied on 1/28/was
$1,76.47. The discounted settlement offer
was for
$1,
Paramount received a phone call on 2/5/responding to,
and accepting the terms of, the settlement offer. And on 2/5/Paramount applied a
payment of $1,to settle the account in full per the terms of the letter. The account is correctly reported on the
credit bureau.
However, understanding that borrowers often fail to grasp the implications of the language of these offers, Paramount will adjust our
rating to reflect the account as simply paid versus “settled”

• Sep 14, 2021

Paramount has no authority to report a debt on credit reports in which there is no debtor. Doing so is fdcpa and fair credit act violations.

Even showing a trade or a public record item is a violation when the account was not awarded on credit worthiness.

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me.
Regards,
*** ***
I would like to receive a letter from paramount stating that they are changing the way the loan is reported

*** ***’s complaints were taken quite seriously, and
it is regretful that we failed to receive the faxed documentation of her
orders. Paramount maintains a single fax machine and all faxes are quite
carefully reviewed for context and purpose, and
we can only state that it is of
significant concern that we logged no fax from *** *** on the dates
noted
Our records indicate that it was not until 2/11/that we
received documentation regarding her active duty status. Paramount made
the proper adjustment to the loan balance to account for interest accrued [back
to April of 2014]. As this was a balance adjustment, *** *** was
not satisfied with the simple and single aggregate adjustment, and requested a
full amortization schedule (reflecting how each prior payment of principal and
interest would have been impacted by the reduced rate).
This required a manual set of calculations to be made
outside our servicing system capabilities, however, this was ultimately
completed and was mailed to *** ***. We hope that schedule is to her
satisfactionGiven that instances of SSCRA are infrequent, our employees’
lack of in-depth experience with the act coupled with differences between the
treatment of loans taken out while in the military services [versus reserves],
combined to make *** ***’s experience with us less than
satisfactory. While we have made a full and accurate adjustment to
her loan, we recognize we could have had improved service in this instance, and
have used the experience as a learning one insofar as the SSCRA and our own education,
process, and procedures are concerned

At Paramount Capital Group, we understand the impact inaccurate
credit reporting can have on our borrowers, and we are quite diligent in
electronically supplying monthly updates to all three major credit bureaus. As a result, the most recent update showing
for Paramount should always
closely match those of other creditors.The timing of each bureau’s update with our monthly file is certainly
beyond our own control, however.
As to the request of reporting credit history more than
three years old, we’ve had *** ***’s loan in our system for just three
years, and therefore have no history that could be reported prior to his loan
being booked. We appreciate *** ***’s personal diligence in his payment history with Paramount Capital Group and his ardent concern for his credit rating

They are also acting as a collection agency as stated in the harassing letter as well as mentioned by the automated phone service and explained to me by mr brown

We spoke with this customer on September 5th and reached an amicable solution We credited some interest and established a new payment schedule We consider this matter resolved

At Paramount Capital Group, we understand the impact inaccurate
credit reporting can have on our borrowers, and we are quite diligent in
electronically supplying monthly updates to all three major credit bureaus. As a result, the most recent update showing
for Paramount
should always closely match those of other creditors.The timing of each bureau’s update with our monthly file is certainly
beyond our own control, however.
As to the request of reporting credit history more than
three years old, we’ve had *** ***’s loan in our system for just three
years, and therefore have no history that could be reported prior to his loan
being booked.
We appreciate *** ***’s personal diligence in his payment history with Paramount Capital Group and his ardent concern for his credit rating

these people are liars like roadmaster because they work together they promised me that they would offer me work when I graduated as driver CDL with a company called werner, well I tell you that I went to werner and they told me that my english It was not enough to work with it (I do not know what English is needed to drive a truck hahaha, after graduating in roadmaster that is in English) that company (werner are racists) Well I tell you that I have four months unemployed and also I lost my job. Now they do not stop sending me emails and calls to collect the debt and threats that they are going to send me to collections to damage my credit, do what they want to do but I will not pay a penny to those thieves who want to increase their money lying and swindling people

--------- Forwarded message ----------From: Revdex.com of Metro Washington DC <[redacted]>Date: Tue, Feb 3, 2015 at...

9:37 AMSubject: Fwd: Complaint #[redacted]To: [redacted] <[redacted]>---------- Forwarded message ----------From: [redacted] <[redacted]>Date: Mon, Feb 2, 2015 at 4:52 PMSubject: Complaint #10423612To: [redacted]Please be advised that the creditor named in this complaint is going to go forward and work with in a manner that satisfies both of us. Thank You for your time no further assistance is needed.

I was out of work for two months. Creditor was nice about it on the first call documenting I would not be able to make my first payment and reminding me of a contract (I never signed with them). The contract was sold to them by Roadmaster Trucking School who basically lies to their students promising that the Trucking company who owns them (Werner Enterprises) guarantees you a job and tuition reimbursement after completion of the school; but upon arrival at the school students are presented with an ultimatum "Sign a finance contract or leave." Needless to say after completion of the school, the Trucking Company fails to honor the offer (Hence reason for unemployment) and next I get phone calls from Paramount Capital Group...

After missing the first two months of payments, I obtain a job and am advised by Paramount that they will work with me by accepting payments and re-aging my account. I agree, pay over $1000 (100% to interest) to demonstrate my sincerity and honor my word, but paramount fails to re-age the account, just continue to send me statements stating I am delinquent, and continue to report me as delinquent to credit bureaus.

I understand I have obligations but I also expect companies to have the integrity to honor their word to me as well. I should have know something was wrong earlier when they told me they would not place their offer to re-age my account in writing. Don't trust these people. They Lie to get you to pay them and do not fairly apply your payments to the principal and interest at correct rates.

My name is Jose Hernandez I'm in the same situation this people are scammers

Review: I attempted to resolve a bill with the named company as I am late with the payment and was trying to set up a payment to come out on the 4th of October and then on the 16th of October this would have brought the account current. However in speaking to their Customer Account Specialist he stated that I was calling too late and that the loan was in default. The letter I received states," that if we do not hear from you in 5 business days of your receipt of this letter we will have no choice but to assume your intentions and proceed accordingly. Please keep in mind the bill is due on August 20th and that I contacted them on Sept 19th the letter was written on Sept 16th I called immediately to get the bill back on track but he was rude said I needed to pay by the 30th that I signed a contract with them (I don't recall signing a contract with them my account was sold to them by another company I have spoke with someone from there once and this was my second time when I said I didn't sign a contract he hung up on me.), However I don't get paid until the 4th of October. I had already paid out bills from the check I am to get on Sept 20th. I ask sir there is no way you can assist me with this matter. He said no **.[redacted] you are out of time, but clearly the letter states differently to call and make arrangements which I did. He said something about paying interest at first but would not go back into the resolution. I am late on other bills as well and have had no problems with other creditors. I even apologized for the lack of communication on my part. I have worked as a supervisor in call centers and regardless of the situation I was never rude and told to hang up on my customers. I am incompliance with the letter I received and he is dead wrong for his actions. I am trying to pay the bill, I had outstanding bill occur that I had to pay. He said his name so low I don't even remember his name but he was rude. Before I was transferred to him I think she said he was a lawyer then she said collection specialist I don't know what kind of set up they have but some customer service classes need to be retaken.Desired Settlement: I would like a letter of apology for the representative that I spoke with and be able to pay my bill s requested and get it back on track they act like I was calling to say I would never pay the bill again this is not the case. Clearly its not 6 months behind and all I was asking for was 4 more days.

Business

Response:

Paramount Capital Group purchased **. [redacted]'s loan in June 2013. Her autodrafts were cancelled 2 weeks later due to multiple payment declines. We attempted to reach **. [redacted] for 2 months, to no avail. **. [redacted] called in response to one of many late notices on September 19th. Her offer to pay on October 4th was not denied; the agent simply stated that waiting until that date would not prevent her account from defaulting. The agent did end the conversation abruptly, which should not have happened. She later emailed another agent, stating her frustration with the original call. The agent apologized, and offered her an interest-only payment to keep her from defaulting on her obligation. That interest payment bounced. As a firm, we want to apologize once again for the way the original call was handled.

Review: I co singed a lone with them and the one that have the loan that I cosigned for has been in temp jobs and some times doesn't have a steady check coming in so most of the time hes late paying the last couple of times he tired to make payments on line and there web site hadn't taken them some it will so it wont so today I get three calls in a row at work which I cant take so on brake is listen to voice mail most of the time its [redacted] well this time [redacted] told me that the loan was in default with a balance of 3495.00 dollars when he is only 190.00 late this man ([redacted]) is rude not understanding and down right a complete [redacted] so now that its in default we cant make any payments . last time it was three payments behind he demanded we get a payment in 30mins or he would default the lone it makes me think this place if you don't make your payments there going to come and get you and rough you up or brake an arm or just old school bully.Desired Settlement: [redacted] should find another job or not deal with customers have some one contact me with a proposal of how he could get his payment back on track we don't mine paying the loan but in this day and time that we live in some times bad thing happen to good people and others try to help . you would think they would like to get there money back instead of getting a judgment and costing more money for both parties but that just big corporations wasting more money. really don't know if the Revdex.com could do any thing at all but thank you for being there for some of us to vent . thank you again.

Business

Response:

We have been attempting to create a dialogue with [redacted]

with regard to the repayment of a loan on which he is a co-signer. In

the seven months since November of 2012, we have made 25 outbound calls to [redacted], and have yet to have him answer his phone, or to engage our customer

service team with a return call. As a result, we have been limited to the

opportunity to leave messages asking for a return call.

I note that [redacted] states the problem described in the

complaint as having occurred on 3/1/13, however there were no calls made to [redacted] during the entire month of March, with the call closest to 3/1 being made

on 2/12/2013. This was a message left on voice mail requesting a

return call.

The only contact number this office uses, or has available for

[redacted], is a cell number. As we have not had the opportunity

of having received a return call from [redacted], we would have no way of

knowing his employment schedule, nor when a call to his cell might result in a

work disturbance.

In a review of calls to [redacted]’s number, this office has

never left three messages in immediate succession.

If [redacted] would contact this office to have the dialogue

we’ve been requesting, we could learn directly from [redacted] the best time

to reach him by phone.

Review: In 2012 I received a loan from Paramount to go to truck drivers school. The interest rate was 19% which was ridiculous. So I called in February 2013 after I started working to request a pay off balance. I promptly paid the amount I was given. I only had the loan for 4 months. It was for 18 months. It was paid off early and never late. Recently I got a copy of my credit report and Paramount is reporting that my account was settled for less than the full amount. Making it seem that I wasn't able to pay the full amount of the loan. Because of this, the loan is being reported under adverse and negative accounts. I never requested for them to settle my account. I simply requested a pay off balance. At no time was I told they were settling my account and therefore it would be reported to the credit bureaus that way.Desired Settlement: I want Paramount to report my loan as paid, never late. I want the settled for less than full balance removed. I have a letter statinf fron 2013 that my loan was paid in full.

Business

Response:

On 1/31/2013, Paramount sent a letter to **. [redacted] making him an

offer of a discounted settlement on his loan.

His balance as of the last payment applied on 1/28/2013 was

$1,76.47. The discounted settlement offer

was for $1,250.00.

Paramount received a phone call on 2/5/2013 responding to,

and accepting the terms of, the settlement offer. And on 2/5/2013 Paramount applied a

payment of $1,250 to settle the account in full per the terms of the letter. The account is correctly reported on the

credit bureau.

However, understanding that borrowers often fail to grasp the implications of the language of these offers, Paramount will adjust our

rating to reflect the account as simply paid versus “settled”.

Consumer

Response:

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

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

Regards,

I would like to receive a letter from paramount stating that they are changing the way the loan is reported.

Review: was out of work for short period of time and currently trying to catch up Bills and make at least some sort of a payment, their collection guy will not work with me,offered to send 145.00 I am behind 2 payments on a 2200.00 school loan which I have paid down from 7000.00

they keep threatening me and my cosigner with a lawsuit even had a law firm send me a letter telling me to contact the loan company the law firm will not take my calls either.so I have reached the end of attempting to work this out they are the worst company I have ever dealt with as far as there collections department they need to realize people do fall behind but if they at least try to make some attempt they should be a bit more reasonable.Desired Settlement: Would hope they would at least accept the payments I can make untill I am able to catch loan back were talking about 3 wks of their time.

Consumer

Response:

--------- Forwarded message ----------From: Revdex.com of Metro Washington DC <[redacted]>Date: Tue, Feb 3, 2015 at 9:37 AMSubject: Fwd: Complaint #[redacted]To: [redacted] <[redacted]>---------- Forwarded message ----------From: [redacted] <[redacted]>Date: Mon, Feb 2, 2015 at 4:52 PMSubject: Complaint #10423612To: [redacted]Please be advised that the creditor named in this complaint is going to go forward and work with in a manner that satisfies both of us. Thank You for your time no further assistance is needed.

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Description: Loans

Address: 300 Conshohocken State Rd Ste 240, Conshohocken, Pennsylvania, United States, 19428-3801

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