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Thread: CollectionPoint Scam or Not

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    Default CollectionPoint Scam or Not

    Well got this thing in the mail this morning from a company called CollectionPoint.

    They are saying they have a Money Entitlement Claim cheque that was mailed to some address in QLD (Never been to QLD) and that i need to contact them in order to receive it.

    Called them this morning and they are swamped with calls today so will call us back tomorrow.

    Has anyone else received one of these letters and does anyone know if this is some sort of scam?



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    Quote Originally Posted by Toohey View Post
    Well got this thing in the mail this morning from a company called CollectionPoint.

    They are saying they have a Money Entitlement Claim cheque that was mailed to some address in QLD (Never been to QLD) and that i need to contact them in order to receive it.

    Called them this morning and they are swamped with calls today so will call us back tomorrow.

    Has anyone else received one of these letters and does anyone know if this is some sort of scam?


    Gawd, another tooth fairy.

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    Quote Originally Posted by Toohey View Post
    Well got this thing in the mail this morning from a company called CollectionPoint.

    They are saying they have a Money Entitlement Claim cheque that was mailed to some address in QLD (Never been to QLD) and that i need to contact them in order to receive it.

    Called them this morning and they are swamped with calls today so will call us back tomorrow.

    Has anyone else received one of these letters and does anyone know if this is some sort of scam?
    might be legit ??


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    Money Entitlement Claims


    If you have received a letter from Collection Point regarding “Money Entitlements” and were formerly of the address indicated in the letter, please call our office. You will be asked to quote the reference number in the top left hand corner of the letter and we will explain what is involved and required in having the money released to you.

    Often people are sceptical and find it difficult to believe that money could be owing to them or have been left for them. They think it’s some sort of “Scam” but very quickly find out that it is authentic and become extremely excited by the prospect that money will be retrieved and returned to them.

    Collection Point takes care of all legal and documentary requirements in order to have the money released to you.

    Collection Point are Licensed Commercial Agents, and adhere to the strictest legal guidelines, so you are assured of professionalism and integrity.

    We operate with a Trust Account and Insurance, so that your money is secured and fully accounted for when released to you.

    Collection Point understands that some people in a financially sound position prefer to donate their money entitlement to charity. We ensure that if this is your preference, we will pledge that your money is donated to the charity of your choice. The relevant receipts of proof and acknowledgement would be provided.

    Please call our office for more information on “Money Entitlement Claims” if you need more informative information.
    Collection Point Pty Ltd ACN 079 904 984 is a professional Money Retrieval and Debt Recovery Organisation


    Could be same company ?
    Debt Recovery method/trick or legit ?

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    Yup thats the web address on the letter.

    Just sceptical as the saying goes "If its too good to be true........"

    Will wait for their return call and see whats what.

    I remember a scam a few years back similar to this where you had to pay the company a $22 - $100 processing fee and you never get your cash.

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    Similar thread here


    Sounds like they charge a fee for getting money owning to you, which if you know what it is you could get it for $0 dollars anyway.

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    Quote Originally Posted by SPLog View Post
    Sounds like they charge a fee for getting money owning to you, which if you know what it is you could get it for $0 dollars anyway.

    Yep, they tried that with me. They found some $ I was owed from some old insurance thing on the ASIC databases for unclaimed $ then tried to charge me 45% of the amount to get it back for me.

    Try some social engineering, ring 'em and ask what the money's from, bullshit them into giving you some of the info then do some searching and get it yourself.

    If that's too hard, lemme know , I'll do it for 30%


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    Unclaimed Monies Online Search facility, provided by the Australian Securities and Investments Commission


    ato super seeker


    edit added another link
    Ask FIDO to dig up your unclaimed money
    Last edited by SPLog; 05-08-09 at 01:44 PM.

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    Having had a company once contact me about money that may belong to me, i called them to find out it was an inheritance in an forgotten bank account, but one that id known about for some time.

    The buggers didnt want to tell which bank it was in and i didnt tell them i knew and they made it clear they wanted 25% of the ballance for their services.

    To their surprise i told them i knew about it, just never got around to doing anything about it and didnt need their help.

    I think they find out about forgotten bank accounts, contact the owners or relatives if they have passed on and try to make money out of them.

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    Quote Originally Posted by Toohey View Post
    Well got this thing in the mail this morning from a company called CollectionPoint.

    They are saying they have a Money Entitlement Claim cheque that was mailed to some address in QLD (Never been to QLD) and that i need to contact them in order to receive it.

    Called them this morning and they are swamped with calls today so will call us back tomorrow.

    Has anyone else received one of these letters and does anyone know if this is some sort of scam?
    They are a "Collection" company as well...Do you owe anybody money?
    Old Dog, No Flies

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    From the fido site there are a number of Unclaimed money Publications released each year so I would guess they would use them and try and contact the owners for a commission.


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    Thanks for the links everyone, searched around them and no money seems to be owed to me and nope dont have any money owed to anyone (that i know of).

    They havent mentioned a commision yet - but am just waiting for the sting.

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    Finding unclaimed monies and getting payment for it is a common "earn yourself thousands $ at home" scheme and the same info about "millions of unclaimed superannuation and insurance" makes the ACA and Today Tonight type shows a couple times a year.

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    Look send me $20 dollars and I will track them down for you.

    Anyone else needs my help just also send me $20. Any money I find you are owed I wont take a commission.

    I will just be happy to get $20 from everyone here

    Oh Hurry in sending the $20 I already have some information I found.

    Davo

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    Don't forget to look in the state registers too.. not just FIDO

    Check your state treasury homepage for unclaimed money.
    * Bill Paxton is the only actor to be killed by Alien, a Terminator, and the Predator.

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    I got a few Collectionpoint letters recently.

    You can easily find the same info that CollectionPoint is giving you - eg



    or



    I'm guessing they trawl these databases with electoral roles and phone books to try and match people up to money. They also wanted 25% of your money plus GST - plus they have a certified copy of your identification as well.

    Check out what they did to this poor guy:


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    Thumbs up follow up

    thank for your help. best was is to go direct to ASIC on the following link and it tells you how to claim it without collection point.


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    Quote Originally Posted by Godzilla View Post
    Having had a company once contact me about money that may belong to me, i called them to find out it was an inheritance in an forgotten bank account, but one that id known about for some time.

    The buggers didnt want to tell which bank it was in and i didnt tell them i knew and they made it clear they wanted 25% of the ballance for their services.

    To their surprise i told them i knew about it, just never got around to doing anything about it and didnt need their help.

    I think they find out about forgotten bank accounts, contact the owners or relatives if they have passed on and try to make money out of them.
    I had a similar thing happen about 12 years ago... they sent me a letter saying they had found my money and if I signed their papers they would claim it for me for a nominal fee. So I used my Internets Powers and found out I did actually have some money on one of the registers, so I claimed it myself and smirked in my Profit.

    The dipshits then sent me a bill... so I laughed in my Profit at their weezlieness.

    These jokers get the electoral rolls and run them against the lost monies registers, then they send out bulk mail, and hope for dumb-dumbs that think they're getting a good deal.
    #I don't stereotype people, not like most of you do.#

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    I had a good outcome from a debt collection agency once , an ex tenant owed me money , did a runner and the estate agency couldnt track him down.
    by a major fluke , i saw the flea driving a truck in my area , noted which company he worked for and sent the details to the estate agency. I paid extra for a debt collector to track him down and work out a payment plan. the flea paid it back at $50 a week so i was happy about that.

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    Default CollectionPoint is running a scam

    I've just reported them to the ACCC and to Consumer Affairs Victoria, having been a victim of their scam, and I'd encourage others to do the same.

    It's quite a clever scam. They access the ASIC database to obtain records of people who have unclaimed funds. Then they generate form letters, which they send to those people and offer to recover their funds for a fee (which I've heard can be as high as 25% of the value of the funds).

    Nowhere do they tell people that they can obtain their funds directly from ASIC at no charge.

    In their form letter, they also state that a cheque for the funds had already been sent to the person but was not cashed (I never received such a cheque).

    This scam is similar to the share buyback scams, where conmen go through the share register and offer to buy people's shares back at a fraction of their value.

    What annoys me about these scams is that they prey on the elderly, and on people who may not understand what is happening.

    Do not, under any circumstances, accept the CollectionPoint offer. Tell them where to go and just contact ASIC directly.

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