The caller would not say what he was calling about. Was very evasive and would only say his name is Brooks. Hung-up on him because I don't know them and they would not say what they are calling about.
Business Contact and Profile for Jefferson Capital Systems, LLC
Name: Jefferson Capital Systems, LLC
Phone: (800) 281-2793
Fax: (320) 229-8582
Address: 16 McLeland Road
Saint Cloud, MN 56303
Website: www.jeffersoncapitalsystemsllc.com
Original Business Start Date: April 1999
Local Start Date: November 2002
Principal: David M. Burton, Manager
Customer Contact: David M. Burton, Manager - (320) 229-8540
Entity: Corporation
Incorporated: November 2002, GA
Type of Business: Collection Agencies, Credit Cards & Plans
BBB Accreditation: Jefferson Capital Systems, LLC is a BBB Accredited business.
Additional DBA Names: A X F Y S Credit Advantis
Products and Services of Jefferson Capital Systems, LLC
According to information provided by Jefferson Capital Systems, LLC, this company offers collection services.
Additional company management personnel include:
Ms. Shirley Smith - Consumer Relations
Mr Rick Huddleston - Board of Directors
Mr John Rassman - Attorney
Licensing for Jefferson Capital Systems, LLC
This company is in an industry that may require licensing, bonding or registration in order to lawfully do business. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
These agencies may include:
Minnesota Department of Commerce
85 7th Pl. E. Ste. 500
Saint Paul, MN 55101-2198
(651) 296-6319
www.commerce.state.mn.us
BBB records show a license number of 20422133 for this company, issued by Minnesota Department of Commerce. Their web address is www.commerce.state.mn.us.
Customer Complaint History for Jefferson Capital Systems, LLC
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB processed a total of 142 complaints about Jefferson Capital Systems, LLC in the last 36 months, our standard reporting period. Of the total of 142 complaints closed in 36 months, 47 were closed in the last year.
Government Actions
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
Jefferson Capital Systems entered into a settlement agreement with the FTC under serious charges:
CompuCredit Corporation, a company marketing Visa and MasterCard credit cards to consumers in the subprime credit market, has agreed to reverse fees charged to eligible consumers' accounts to settle allegations that it violated federal law. It is estimated that the redress program will result in more than $114 million in credits to consumer accounts. Eligible consumers whose current balances are less than the amount of credits to be applied will receive an estimated $3.7 million in cash refunds.
In a federal court complaint filed in June 2008, the Federal Trade Commission alleged that CompuCredit engaged in deceptive conduct in connection with marketing credit cards. The FTC also alleged that Jefferson Capital Systems, LLC, a debt collection company wholly-owned by CompuCredit, engaged in deceptive conduct in marketing credit cards as part of its debt collection activities and engaged in abusive practices while collecting debts.
"This settlement is a big win for consumers," said Lydia B. Parnes, Director of the FTC's Bureau of Consumer Protection. "When signing up for a credit card, consumers have the right to know the truth about the amount of credit they are getting and the cost of that credit up front."
According to the FTC's complaint, CompuCredit marketed credit cards, primarily through direct mail solicitations, under various brand names, including Aspire, Aspire A Mas, FreedomCard, Tribute, Imagine, Majestic, Aspen, Emerge and Fingerhut Credit Advantage. These cards generally fit into three categories:
Fee-based credit card with $300 limit. According to the FTC, CompuCredit marketed to consumers with subprime credit ratings a credit card with a purported $300 credit limit, using solicitations that stated certain up-front fees that did not apply. Rather than provide consumers with $300 of available credit, CompuCredit immediately charged consumers as much as $185 in fees that it did not adequately disclose in light of the representations made. These fees left consumers with as little as $115 in available credit.
Credit card with "up to $3,250" limit. As alleged by the FTC, CompuCredit marketed to consumers with slightly higher credit scores its credit card purporting to offer "up to $3,250" in available credit. CompuCredit failed to disclose, or failed to disclose adequately, that half of the available credit would be withheld for the first 90 days. CompuCredit also failed to disclose, or failed to disclose adequately, that for the first 90 days, the company would monitor consumers' purchases, and might reduce their credit limit based on an undisclosed "behavioral" scoring model.
Debt-transfer credit card program. According to the complaint, CompuCredit and Jefferson Capital marketed a credit card to consumers with charged-off debt. CompuCredit and Jefferson Capital represented that the consumers' old debt balance would be immediately transferred to the card and reported to consumer reporting agencies as paid in full. Consumers who accepted the offer, however, were immediately enrolled in a debt repayment plan and did not receive a credit card until they paid 25 percent to 50 percent of their charged-off debt.
In addition to requiring the reversal of fees, the orders with CompuCredit and Jefferson Capital:
Require that credit card solicitations making representations about credit limits or available credit must disclose - equally clearly and prominently, and on the same page - fees and other restrictions affecting initial available credit.
Include a broad prohibition against misrepresentations in the marketing of credit cards, including misrepresentations about the amount of available credit.
Prohibit CompuCredit and Jefferson Capital from making any misrepresentation about the relationship between an offer or extension of credit and a debt repayment plan.
Prohibit Jefferson Capital from engaging in abusive practices while collecting debts.
The Commission voted 4-0 to authorize staff to file the stipulated final order. The order was filed in the U.S. District Court for the Northern District of Georgia. Separately, the FDIC announced settlement of its parallel administrative action against CompuCredit. As part of its settlement with the FDIC, CompuCredit has also agreed to a civil money penalty of $2.4 million.
NOTE: Stipulated final orders are for settlement purposes only and do not constitute an admission by the defendant of a law violation. A stipulated final order requires approval by the court and has the force of law when signed by the judge.
On June 10, 2008 The Federal Trade Commission announced the filing of a lawsuit charging CompuCredit Corporation and it's wholly owned subsidiary, Jefferson Capital Systems, LLC, with deceptive marketing practices in selling credit cards to consumers in the subprime market. The FTC files a complaint when it has "reason to believe" that the law has been or is being violated, and it appears to the commission that a proceeding is in the public interest. The complaint is not a finding or ruling that the company have actually violated the law. The case will be decided by the court. For more information visit www.ftc.gov/opa/2008/06/compucredit.shtm or call 1-877-FTC-HELP (1-877-382-4357)
December 2008 - Final decision regarding FTC:
CompuCredit Corporation has agreed to reverse fees charged to eligible consumers' accounts to settle allegations that it violated federal law. It is estimated that the redress program will result in more than $114 million in credits to consumer accounts. Eligible consumers whose current balances are less than the amount of credits to be applied will receive an estimated $3.7 million in cash refunds.