I have recently been able to pay off all my debt and three months later I received this letter stating that I owed Pinnacle for a sum of $6000, but they will gladly take $3000. I had never heard of Pinnacle or even had a Wachovia account before, also never owed that much all at once on any credit. I called an old business that I once owed to to ask if they could answer any questions about this before I called Pinnacle. This other company explained that if I really owed that much that by law I would have had my wages garnished and that it was probably a scam to get more money out of me. So I call Pinnacle with my reference number and oddly they cannot furnish any information regarding to the account unless I gave them my SSN and bank account #. So I tell them no and call back the other company to ask more questions. They said if I gave them that info they would have taken that as a confirmation to allow them to take any amount they wished. And by not having my personal information this is further proof that I never owed anything to begin with. This is a form of fraud that cannot be taken to court because it looks like you payed them. Also you cannot take them to court for any previous reasons because they have not taken any money. I can only imagine the people this company takes advantage of through this new and legal form of fraud.
Pros: They know how to work the system..
Cons: They will take your money for something you never owe.
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