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How to deal with Collection Calls from Glass Mountain Capital

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Betsalel Cohen
UpdatedJun 7, 2024
Key Takeaways:
  • Glass Mountain Capital is a real company that collects consumer debts.
  • Validate a debt as soon as you receive notice from Glass Mountain Capital LLC. Don't let them harass you.
  • Negotiate debts with GMC Credit Services by yourself or use a professional debt settlement company.

Glass Mountain Capital is a small-sized collection agency in the United States. They operate in all 50 states. They have been in business since 2000 and are headquartered in Schaumburg, Illinois. They act as agents for original creditors and debt buyers, including large banks, credit card companies. GMC handles debt from pre-collection to litigation. 

Just like dealing with any debt collector, be prepared. Verify that you owe the debt, that the company does not harass you, and that you have the right tools to settle your debt.

What is Glass Mountain Capital? Are they real or a scam?

Glass Mountain Capital LLC (GMC) is not a scam. It is a real debt collection agency. They act as a full-service collection company for creditors and aggressively pursue collections for original lenders and debt buyers. They represent clients across various industries and types of debt, including utilities, government, commercial, retail, banks/credit unions, auto, debt buyers, medical, education, fintech. They have about 31 employees and operate in all of the United States. 

Glass Mountain Capital information
Address1375 E Woodfield Rd, Suite 400 Schaumburg, IL 60173
Hours of Operation (CST)Monday – Thursday: 8 am - 6 pm Friday: 8 am - 4:30 pm Saturday - Sunday: Closed

Glass Mountain Capital has headquarters and operations in Schaumburg, Illinois, and Buffalo, New York. They are also known as Glass Mountain Capital LLC and GMC Credit Services.

Do you owe Glass Mountain Capital money?

You may not be familiar with Glass Mountain Capital until they contact you about a debt. They represent many original and third-party creditors.  Your credit may show the name of the original creditor or debt buyer. Because they do not own the debt, their name may not show up on the credit report except as an inquiry.

However, there are various reasons that you may not owe the original creditor or the current owner of the debt money. For example, the debt may not belong to you, the statute of limitations expired, or you already paid off the debt. Take these steps when GMC contacts you about a debt.

Step 1 - Validate your debt.

Before you proceed with any collection agency, always validate the debt. If Glass Mountain Capital contacts you to collect a debt - immediately validate it after the first contact. You have 30 days to validate the debt, so act quickly.  The best way to contact them is to send a registered letter. 

GMC is obligated to validate the debt. If you don’t receive proper validation, then send a notice of insufficient validations. If the collection agency cannot validate the debt, it has no legal basis to collect it.

>>Learn more: Follow the steps described in the debt validation article to preserve your rights under the FDCPA.

Step 2 - Check to see if the Statute of Limitations (SOL) is valid.

After a certain amount of time, state laws protect you against litigation. State laws set the time that a creditor can sue you and collect on the debt. The rules are complex, and special circumstances might lengthen the amount of time a collection agency can sue you. In the case that Glass Mountain Capital is an agent for an original creditor, generally, once the SOL expires, it can still pursue a lawsuit. However, if the debt belongs to a third party, then once the SOL expires, it cannot pursue a lawsuit. 

Even if you think that the SOL expired, the creditor may have a different opinion on the expiration date and pursue a lawsuit against you. It is always wise to respond to a lawsuit. In the case of an expired SOL, you must answer any summons and claim an affirmative defense. Be careful not to make a payment and restart the clock on a time-barred debt.

Even if they don't pursue a lawsuit, the debt collection agency has the right to contact and get you to pay or negotiate a settlement. 

>> Learn more: Learn more about states' laws regarding statute of limitations.

Stop Glass Mountain Capital from debt collection harassment

The Fair Debt Collection Practices Act strictly regulates debt collection agencies like Glass Mountain Capital LLC. Even so, many consumers complain about overly aggressive and illegal collection tactics.

Here are some of the actions that they are forbidden to do:

  • Use the Telephone to Annoy or Harass
  • Seek Unjustifiable Amounts
  • Contact a relative, friend, or colleague who doesn’t own the debt
  • Call at an unreasonable time such as before 8:00 AM or after 9:00 PM
  • Use Abusive or Threatening Language
  • Contact a Consumer at Work
  • Threaten Arrest

If you believe GMC Credit Services violated your rights under the FDCPA, consult with a consumer rights attorney in your area. Discuss possibly filing a lawsuit against the collection agency; not only could a lawsuit result in the cancellation of your debt, but you could be awarded damages.

Learn how to negotiate your debt with Glass Mountain Capital

Glass Mountain Capital is interested in closing accounts as soon as possible.  They are interested in you making a payment as soon as possible. However, they do look into other options, and they claim: 

"We will seek to secure full payment, however suitable payment plans may be arranged to increase (the) likelihood of recovery from consumer.

If your account is in pre-collection status, GMC is interested in getting you back on track as soon as possible. However, if you are deeper in debt, then they are interested in finding a payment plan or a lump sum payoff. If you are in financial hardship, it might be possible to negotiate a large settlement, primarily if GMC represents a third-party debt buyer who purchases debts for pennies on the dollars. 

It is possible to do negotiations on your own. However, dealing with an aggressive debt collector, especially with aggressive lawyers, is stressful. It takes a significant amount of time and effort. It is helpful if you convince them that you are in a hardship. Here are three tips:

  • Be calm, clear, and convincing.
  • Be persistent.
  • Send a debt negotiation letter.

A professional can reach a negotiated settlement with your debt collection agency quickly. If you are in financial hardship and have a large debt, consider using a professional debt negotiation company. Reputable debt settlement companies have large teams of negotiators, vast databases, and sophisticated tools. They know what range original creditors and collection agencies have accepted for payments in the past.

Complaints and lawsuits about Glass Mountain Capital

Like other collection agencies, GMC has complaints registered in the Consumer Finance Protection Bureau (CFPB).

The CFPB has complaints about collecting a debt that the consumer didn’t owe, harassment and impersonating an attorney, law enforcement, or government official. The complaints themselves are not proof of illegal or improper activities, although an excellent source to learn about how consumers perceive the interactions and problems they have with the debt collection agencies.

Here is a couple of example of complaints from the CFPB website:

Took or threatened to take negative or legal action - Threatened or suggested your credit would be damaged

"On XX/XX/2021 I received an uninvited and unauthorized call from XXXX XXXX of glass mountain capital LLC, who asked for me by name once I reapplied i was indeed XXXX XXXX, He stated that he was a debt collector and he was attempting to collect a debt for his client SECURITY XXXX XXXX XXXX, Mr.XXXX continued by stating that he was calling regarding a account that I'm unware of, I asked Mr.XXXX repeatedly how did he receive my name, address and personal information, Mr.XXXX started to became very frustrated and rude with me with the questions I was asking about MY personal information. Mr.XXXX wasn't answering any of my questions and hanged up the phone on me".

Communication tactics - You told them to stop contacting you, but they keep trying "The company Glass Mountain Capital LLC has been calling me since the end of XXXX. First they called from an out of state number in which I did not answer, but called back only to get a error tone. Then, in order to get me to answer the phone, they started calling from numbers using the area code where I live. I answered only to get someone on the phone asking me to verify my information without stating who they are and what they are calling about. Just stating it is regarding personal business matters. The lady hung up on me quickly once I refused to verify anything since she refused to tell me who she was and what she was calling about. They continue to call but, will not provide me any information unless I verify myself which I will not do if I do not know what the call is regarding. This collection company is not on my credit report which makes me suspicious about the nature of their calls".

Deal with a Glass Mountain Capital lawsuit

Although Glass Mountain Capital LLC has the right to pursue a lawsuit in some circumstances, they cannot make empty threats to sue you when making a collection call. Depending on the events, they, or the debt owner, might start a lawsuit which can lead to a public judgment and liens on personal property, wage garnishments, or bank levies. 

If Glass Mountain Capital LLC files a lawsuit against you, consult with a lawyer in your state with consumer law experience. You must file an answer to their summons and complaint or risk losing the lawsuit by default. Ignoring a summons will not make it go away, so take action to respond to the lawsuit.

Can you remove Glass Mountain Captial from your credit report?

Glass Mountain Capital may appear as an inquiry on your credit report.  Since it is unlikely that they purchase debt, their name should not appear as the owner of any account identified on your credit report. However, the names of the original creditor or the third-party debt buyer will appear on your credit report.

Most accurate negative tradelines remain on your credit report for seven years from the delinquency date. Bankruptcies stay for ten years, and judgments can stay for even longer if the creditor renews them.

You can remove inaccurate data from your credit report. It is possible to file a dispute with the Credit Reporting Agencies and remove the negative items from your credit report.

>> Learn more: Learn how to dispute a credit report.

Struggling with debt?

If you are struggling with debt, you are not alone. According to the NY Federal Reserve total household debt as of Quarter Q1 2024 was $17.69 trillion. Student loan debt was $1.60 trillion and credit card debt was $1.12 trillion.

According to data gathered by from a sample of credit reports, about 26% of people in the US have some kind of debt in collections. The median debt in collections is $1,739. Student loans and auto loans are common types of debt. Of people holding student debt, approximately 10% had student loans in collections. The national Auto/Retail debt delinquency rate was 4%.

Each state has its rate of delinquency and share of debts in collections. For example, in South Dakota credit card delinquency rate was 2%, and the median credit card debt was $419.

To maintain an excellent credit score it is vital to make timely payments. However, there are many circumstances that lead to late payments or debt in collections. The good news is that there are a lot of ways to deal with debt including debt consolidation and debt relief solutions.