Paramount Recovery Systems: Who They Are and Your Rights

Type

Collection agency

Also known as

Paramount Recovery Systems, L.P.; Paramount Recovery Systems, LP

Headquarters

Waco, TX

202 debt collection complaints were sent to the Consumer Financial Protection Bureau about Paramount Recovery Systems, L.P. from November 13, 2023 to November 12, 2026. A complaint is a consumer's account, not a finding that the company broke the law. Read the complaints in the CFPB database.

Who Is Paramount Recovery Systems?

Paramount Recovery Systems, L.P. is a collection agency in Waco, Texas. The Better Business Bureau lists it at 7524 Bosque Boulevard, as a limited partnership that started in October 2001, and names Kevin Cloud as chief operating officer and Susan Rockhold as chief compliance officer.

We were unable to load the company's own website when preparing this profile, so we have not listed its phone numbers. Before giving any information to a caller, compare the number on your letter with the BBB listing or the company's official site.

Don't confuse it with similarly named businesses. At least one addiction treatment provider uses the name "Paramount Recovery," and we found nothing connecting it to this agency.

Why Paramount Recovery Systems May Be Contacting You

We could not confirm which industries or creditors Paramount Recovery Systems collects for. As a third-party agency, it contacts people because a business has placed a past-due account with it. The validation notice it sends must name that creditor, so read the notice closely. If the creditor is a company you have never dealt with, the account may have been sold; see why an unfamiliar company may be after a debt.

How to Check a Debt Paramount Recovery Systems Says You Owe

Because so little public detail exists about this agency's clients, the written record is everything:

• Insist on the validation notice. The FDCPA (15 U.S.C. § 1692g) and Regulation F (12 C.F.R. § 1006.34) require it to identify the creditor, itemize the balance, and set out your dispute deadline.
• Send a written dispute within the validation period if you don't recognize the account. Keep a copy and proof of mailing. Paramount must stop collecting until it verifies.
• Ask who currently owns the debt and whether the original creditor still has it.
• Compare the amount with your own statements, receipts or final bill.
• Check the age. Texas generally allows four years to sue on a debt (Tex. Civ. Prac. & Rem. Code § 16.004), and debt buyers cannot sue Texans on time-barred consumer debt (Tex. Fin. Code § 392.307). Out-of-state residents should check their own state's deadline.

What Paramount Recovery Systems Can and Can't Do

A third-party agency is a "debt collector" under 15 U.S.C. § 1692a(6), and as a Texas third-party collector it is also subject to the Texas Debt Collection Act (Tex. Fin. Code ch. 392).

• It may not threaten to have you arrested or to take property it has no right to take (15 U.S.C. § 1692e; Tex. Fin. Code § 392.301).
• Even if a creditor later wins a judgment, Texas does not allow wage garnishment for ordinary consumer debts (Tex. Const. art. XVI, § 28).
• It may not contact you at inconvenient times, generally before 8 a.m. or after 9 p.m. (15 U.S.C. § 1692c(a)(1)).
• Seven calls in seven days about the same debt is presumed to be harassment (12 C.F.R. § 1006.14(b)(2)).

We did not find a CFPB enforcement action against Paramount Recovery Systems. Learn how to dispute a debt, or contact our FDCPA attorneys.

We Sue Debt Collectors That Break the FDCPA

Texas Debt Law files Fair Debt Collection Practices Act lawsuits against debt collectors in federal court for consumers in Texas, California, Illinois, Georgia and Colorado. If Paramount Recovery Systems or anyone collecting for it harassed you, misstated what you owe, threatened action it could not take, or told others about your debt, you may have a claim. A court can order a collector that violated the FDCPA to pay your actual damages, up to $1,000 in additional statutory damages, and your attorney's fees and costs (15 U.S.C. § 1692k(a)). An FDCPA claim generally must be filed within one year of the violation (§ 1692k(d)), so keep your letters, call logs, voicemails and screenshots, and talk to us early. Texas residents may also have claims under the Texas Debt Collection Act. Learn more from our FDCPA attorneys.

Free FDCPA Case Review(214) 851-2250

Or start your free case evaluation online. No lawyer can promise a result; every claim depends on its facts and proof.

Sources

• BBB business profile: Paramount Recovery Systems (facts only)
• CFPB enforcement actions search
• CFPB Consumer Complaint Database: Paramount Recovery Systems, L.P., debt collection

This profile is general information compiled from public sources, not legal advice, and it does not state or imply that Paramount Recovery Systems has violated any law. Company details change; tell us if something here is out of date.