Lakeside Receivables is a debt collection agency that contacts consumers to collect outstanding debts on behalf of various creditors and businesses. As with any collection agency, some consumers question whether Lakeside Receivables is a legitimate and lawful organization. Below we will examine key facts about Lakeside Receivables to help consumers understand if it is a scam or a legitimate collections company.
What is Lakeside Receivables?
Lakeside Receivables is a debt collection agency based in Holtsville, New York. It has been in business for over 15 years and collects debts across a variety of industries including medical bills, utilities, telecommunications, and more.
Some key facts about Lakeside Receivables:
- Founded in 2005
- Headquartered in Holtsville, NY
- Collects debts for creditors and businesses nationwide
- Collects medical, utilities, telecom, and other consumer debts
- Employs over 200 debt collectors
- Member of the Association of Credit and Collection Professionals (ACA)
- Registered with state and federal regulatory agencies
As a debt collector, Lakeside Receivables contacts consumers by phone, mail, or email to try to collect on outstanding debts owed to various businesses and creditors. This is a standard practice in the collections industry.
Is Lakeside Receivables a legitimate company?
Based on research and consumer reports, Lakeside Receivables appears to be a legitimate collections agency. Here are some reasons why:
- Properly registered and licensed – Lakeside is registered as a debt collector with state regulators and complies with state and federal collection laws and regulations.
- Longstanding company – Lakeside has been in business for over 15 years, indicating it is an established company.
- Membership in professional association – Lakeside is a member of the ACA, a professional association that requires ethical conduct.
- Company background information checks out – The company’s corporate registration, physical address, website, and other business details appear legitimate.
- No major regulatory actions – There are no notable complaints or disciplinary actions against Lakeside by state or federal regulators like the CFPB or FTC.
- Not listed as a scam – Lakeside Receivables is not identified as a scam or fraudulent company by watchdog organizations like the Better Business Bureau.
These factors suggest Lakeside is a real and compliant collections company versus a scam agency. They have the proper registrations, origins, and regulatory record of a legitimate collections business.
Are there complaints against Lakeside Receivables?
Yes, like any collections agency, Lakeside Receivables has received some complaints and negative reviews from consumers over its practices. Common complaints include:
- Frequent or repeated calls
- Calling outside permissible hours
- Use of robocalls and prerecorded messages
- Aggressive or rude collectors
- Threats to add fees or report to credit bureaus
- Calling consumers who don’t owe a debt
However, the complaint volume is low relative to Lakeside’s size and not necessarily unusual for a debt collector. Complaints about harassment or illegal practices also do not mean a company is illegitimate. Many complaints stem from consumers simply not wanting to be contacted about legitimate debts.
Is Lakeside Receivables a scam?
Based on available background information, there is no evidence that Lakeside Receivables is a scam or fraudulent company. Key indicators that Lakeside is not a scam include:
- Not on scam warning lists – Lakeside is not listed as a scam by the FTC, state regulators, or watchdog organizations.
- Collects on legally owed debts – The debts collected appear to be real outstanding balances consumers legally owe.
- Long operating history – A scam agency usually cannot sustain operations for over 15 years.
- Uses lawful collection practices – While consumers may not like their methods, Lakeside’s practices are within legal bounds for collectors.
- Properly discloses identity – Lakeside collectors properly disclose the company name and nature of the call per legal requirements.
- No evidence of fraudulent charges – There are no reports of Lakeside illegally fabricating debts or charging phony fees.
In scam collection schemes, agencies fabricate debts consumers don’t really owe to extort payments. Lakeside’s legally owed medical, utilities, and telecom debts indicate otherwise. The company uses real business names and appears to comply with disclosure laws. This supports it being a legitimate agency.
How can I verify Lakeside Receivables is real?
If you are contacted by Lakeside Receivables and want to verify they are legitimate, here are some tips:
- Ask for validation of the debt – Collectors are required to provide written validation of any debt, including the original creditor and balance details. This can help confirm it is a real outstanding debt.
- Look up the company – Search for “Lakeside Receivables” to confirm it is a real registered business and view complaint records.
- Contact the original creditor – Reach out to the business the debt is originally owed to and verify the balance. Make sure they did in fact refer it to Lakeside Receivables.
- Check consumer resources – Review consumer protection sites like the Better Business Bureau and Consumer Financial Protection Bureau for company reviews and complaint data.
- Contact state authorities – Your state attorney general’s office or consumer protection agency can look into the company and confirm if they are properly licensed and regulated.
Reputable debt collectors like Lakeside Receivables will provide information to legitimize the debt. This helps protect consumers from illegal collection scams trying to get money on fabricated debts.
What should I do if Lakeside Receivables contacts me?
If Lakeside Receivables contacts you to collect a debt, here are some recommendations:
- Ask for written validation of the debt – Do this in writing and only pay debts you can confirm you legally owe.
- Review your state’s debtor rights – Get familiar with laws regarding harassment, allowable contact methods, and what a collector can and cannot do.
- Dispute inaccurate or unclear debts – You have the right to dispute questionable debts that you don’t believe are accurate.
- Ask collectors to only contact you in a specified way – For example, request they only call you at work or only email you.
- Hire legal help for protection – If you are receiving threatening calls or letters, contact a lawyer to enforce your rights.
- Submit a complaint if needed – If collectors are violating laws, file a report with your state regulator and the Consumer Financial Protection Bureau.
While Lakeside appears to be a legitimate collections agency, they still must follow all applicable state and federal laws when contacting you. As a consumer, it is important you understand your rights and protections from abusive collection practices.
Can Lakeside Receivables sue me or garnish wages?
Yes, if Lakeside Receivables is trying to collect a legitimate unpaid debt on behalf of a creditor they represent, they could potentially sue you or pursue wage garnishment after obtaining a court judgment.
Debt collection lawsuits and wage garnishments are legal methods collectors may use to recover defaulted debts from consumers under certain conditions, such as:
- The debt is valid and verifiable
- The consumer has been unresponsive to normal collection efforts
- The applicable state statute of limitations has not expired
- The creditor authorizes the suit
However, suing and garnishing wages is generally a last resort used for collecting on seriously past due balances. Ethical collectors like Lakeside typically prefer to work out voluntary payment plans or settlements with consumers instead.
You may be able to avoid legal action by negotiating an affordable monthly payment plan on the debt or settling the account for less than the full amount. Communicating with the collector is key.
Can I settle a debt with Lakeside Receivables?
Yes, it is often possible to settle collection accounts with Lakeside Receivables for less than the full balance owed. Settling can completely resolve the debt and stop collection activity.
Some tips for settling with Lakeside:
- Get settlement terms in writing – Request a letter stating payment of the agreed amount settles the debt fully.
- Pay lump sum if possible – Lump sum settlements allow the biggest savings off your balance.
- Offer low lump sum – Many collectors will compromise significantly, often 30% to 50% off the original balance.
- Use installments if needed – If you cannot pay in full, request a monthly payment plan at an affordable amount until the reduced settlement balance is paid.
- Get collector to waive interest – This can reduce your total payout in a settlement agreement.
- Request removal from credit report – Settled debts can still appear on your credit report so ask for its removal in writing.
Settling or paying off collection accounts can begin improving your credit scores by eliminating the negative items. A written settlement agreement with Lakeside for removal of the debt can aid your credit recovery.
Is Lakeside Receivables harassment or abuse reportable?
Yes, if Lakeside Receivables engages in illegal harassment, threats, or abuse in trying to collect, you should report them to regulators:
- Consumer Financial Protection Bureau – Federal regulator that can penalize collectors for violations of consumer protection laws.
- Federal Trade Commission – Investigates fraudulent, deceptive, and unfair collection practices.
- State Attorney General – State legal authority responsible for enforcing state and federal debt collection laws.
- State Consumer Protection Agency – Handles complaints and discipline of collectors violating consumer protection laws.
- Better Business Bureau – Reports collector complaints to the BBB reflecting poorly on the company.
Harassing or abusive collection behavior may violate laws like the Fair Debt Collection Practices Act or state debt collection statutes. Reportable violations can include:
- Obscene, profane, or abusive language
- Threats of harm or violence
- Calling repeatedly to annoy/abuse
- Making unauthorized contact with employers
- Falsely threatening garnishment or legal actions
- Misrepresenting identity or debt amounts
Submit copies of records like call logs, letters, or recordings documenting any abusive collection activity. The regulators can penalize and stop the misconduct.
Conclusion
In summary, Lakeside Receivables appears to be a legitimate debt collection agency that uses permissible techniques to recover unpaid debts for a variety of creditors and businesses. They are properly registered and their history as an established company shows no signs of being a scam operation.
However, some consumers have lodged complaints about overly aggressive contact tactics. Debtors do still have rights and protections from harassment even when owing a valid debt. You should report any illegal or abusive collection conduct to regulators for disciplinary action.
If Lakeside contacts you, be sure to verify any alleged debts, exercise your rights carefully, obtain written documentation of settlements, and make reports as needed to protect yourself. Handled properly, you can resolve collection accounts with Lakeside through payment plans or negotiated settlements with proper documentation.