A collection agency that has bounced back and forth between the Kansas City Area and Denver was indicted by the Colorado Attorney General on Dec. 1, 2010. Regent Asset Management is accused of violating Colorado consumer protection laws and engaging in unlicensed collection of debts.
Regent came to our attention in June of 2009 when they quickly began tallying complaints. Consumers claimed that Regent was collecting on former US Bank debts that had been paid off months or years earlier. As consumers contacted their bank, they found that no debt existed.
The Kansas City BBB questioned US Bank representatives and executives about the debts and were informed that US Bank had no affiliation or even familiarity with Regent Asset Management. The BBB of Denver provided data to assist the Colorado Attorney General's investigation of Regent.
If a collection agency calls you about a debt you are unfamiliar with, search our BBB national database to find out if the company has a history of complaints or government action taken against them for violations of the Fair Debt Collection Practices Act. The company may not be a collection agency at all, just a group of scammers looking to steal your money. If the information on their report is inconclusive, feel free to give your local BBB a call for advice.