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Praxis Financial

There is scant public information on Praxis Financial, but they have been in business for over 35 years so they obviously know the debt collection industry. The local Better Business Bureau gives the an A- rating and they have only been sued in federal court for allegedly violating the Fair Debt Collection Practices Act eight times in the past 12 months. Believe it or not, this is significantly fewer lawsuits than are filed against most collection agencies. Praxis Financial has one call center, located in Lincolnwood, IL.

Stop Praxis Financial Solutions Harassment

If you receive a call from Praxis Financial and you recognize the debt as being yours and you want to work out a payment plan, keep a few things in mind about the way you pay. The Fair Debt Collection Practices Acts prohibits a collector from trying to collect more than what is actually owed. Before you pay a penny, ask for a statement that details out the principal, interest, and late fees.

Another favorite tactic of collectors is to have you agree to a payment plan and then tell you to send post-dated checks that they will deposit on the agreed upon dates. Unscrupulous collectors will deposit all of them when they are received and if some bounce, they’ll send them through again. This is, of course, in violation of the Fair Debt Collection Practices Act, but it happens frequently.

If you decide you owe the debt and you have worked out a payment plan, always get that agreement in writing and don’t offer any payment until you receive it. Secondly, never give your checking account information or credit card number to a debt collector. You could be cleaned out the next day and your credit card could be maxed out. Never make a payment with a check from your own account. Use a money order or a bank certified check.

From consumer comments in debt forums, it appears that Praxis Financial is actually one of the professionals in the collections business. There are the occasional complaints about rude collectors but there aren’t the stunning violations of the law that are so common among many companies in the debt collection industry.

Praxis Financial Solutions Contact Information

Praxis Financial Solutions
7301 N. Lincoln Avenue, Suite 110
Lincolnwood, IL 60712
847-676-1111

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