Miracle Financial, Inc. is a third-party contingency fee debt collection agency located in Plymouth, Massachusetts. While Miracle Financial holds its information pretty close to the vest, based on consumer comments it apparently purchases a great deal of old debt, particularly from Verizon and AT&T. Miracle Financial also appears to collect from third-party debt sellers. According to Dunn and Bradstreet, the company was incorporated in 2004 and operates a “high volume” call center out of their nine-acre corporate campus in Plymouth.
Miracle Financial Complaints
As of September 2012, the Better Business Bureau had accorded Miracle Financial an A- rating, and had logged 15 closed Miracle Financial complaints within the previous three years, including seven closed Miracle Financial complaints within the previous 12 months. In addition, there were three Miracle Financial complaints filed in federal court in the first nine months of 2012 alleging violations of the Fair Debt Collection Practices Act.
Stop Miracle Financial Harassment
If you are contacted by Miracle Financial in relation to a bill from Verizon, there’s a very good chance that the debt isn’t yours. If it is, it may be so old that the statute of limitations has expired. The statute of limitations varies from state to state, so check your state’s laws (via your Attorney General’s office) to see if the debt is collectible.
If your first contact with Miracle Financial is by telephone, the company has five days to send you a debt validation letter. This letter has to spell out the name of the creditor, the amount of the debt, and a statement that basically says that if you don’t reply to dispute this debt within 30 days, then you acknowledge that the debt is yours.
When you receive that letter, read it carefully and make sure that the information that is supposed to be on there actually is. If it’s not complete, particularly the statement that says you have 30 days to dispute the debt, it may be in violation of the Fair Debt Collection Practices Act (FDCPA).
If the letter is accurate, you have every right to dispute the debt. You can do that by sending a registered return receipt letter to Miracle Financial stating that you dispute the debt and asking for validation of the debt. Further, let them know that until they provide that documentation, they are to make no further collection attempts per the FDCPA.
Remember, Miracle Financial buys a great deal of “junk debt,” and if you make them prove that the debt is yours, the administrative cost of doing that may exceed what they could ever hope to collect from you.
Miracle Financial Address
Miracle Financial, Inc.
52 Armstrong Road
Plymouth, MA 02360
Miracle Financial, Inc. Phone Number: 866-681-3127
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