Source Receivables Management: What to Do If They Contact You

Source Receivables Management, LLC (SRM) has generated over 800 CFPB complaints and 40 federal court cases since its founding in 2008. Two class actions specifically target the agency’s collection letter practices, one for pursuing time-barred debt without disclosure and another for confusing safe harbor language on a Sprint account.

Both cases targeted form letters sent to many consumers simultaneously, making them systemic compliance issues.

This guide covers who SRM collects for, the documented court cases, specific complaint patterns, your federal rights, and how to handle the account.

Who Is Source Receivables Management, LLC?

Source Receivables Management, LLC is a third-party debt collection agency founded in March 2008 in Greensboro, North Carolina. The company employs approximately 25 people with estimated annual revenue around $1.8 million. SRM operates as both a third-party collector and a debt buyer on some accounts.

The BBB lists nearly 300 complaints against SRM. The CFPB shows over 800 complaints, many involving debts consumers do not recognize.

Who Does SRM Collect For?

Confirmed clients from court records and BBB responses include:

• Sprint: Al v. Source Receivables Management (2017) specifically involved a Sprint cell phone account and SRM’s collection letter language.
• ADT Security Services: A 2025 BBB complaint documents SRM sending automated texts to a wrong-number cell phone for an ADT account. ADT confirmed in writing that SRM was contacting the wrong party.
• LVNV Funding, LLC: The 2012 Illinois class action involved a charged-off LVNV account originally handled by Resurgent Capital Services.
• Telecom providers, multi-family housing, timeshare companies, utilities, and financial services: SRM confirms these as active collection categories on its own website.

Documented Federal Cases Against SRM

In September 2012, a Northern District of Illinois judge addressed a class action alleging SRM sent collection notices on a time-barred LVNV debt without disclosing the debt was past Illinois’s five-year statute of limitations. The complaint also alleged the letter failed to name the original creditor.

Al v. Source Receivables Management (Case 2:17-cv-00863, June 2017) alleged SRM’s Sprint collection letter omitted FDCPA safe harbor language, leaving consumers confused about their dispute rights. The same form letter was sent to over 50 similarly situated consumers.

Florin v. Source Receivables Management (Case 1:19-cv-20714-JLK, S.D. Florida 2019) raised additional FDCPA allegations against the agency’s collection conduct.

Common SRM Complaint Patterns

• Wrong-number automated text harassment: A 2025 BBB complaint documents SRM sending repeated automated settlement offer texts to a consumer for an ADT debt belonging to someone else. ADT confirmed the wrong number was being contacted. SRM continued texting after confirmation.
• Collecting on time-barred debts without disclosure: The 2012 Illinois class action established this as a documented SRM pattern. Letters pushing for payment on old debt without statute of limitations disclosure may violate Section 1692e.
• Failure to name the original creditor: The 2012 Illinois case specifically alleged SRM listed RCS as the client without identifying LVNV as the original creditor.
• Pursuing debts consumers do not recognize: The top CFPB complaint category for SRM involves consumers with no knowledge of the underlying account.

What SRM Cannot Do Under Federal Law

• Pursue time-barred debts without disclosure: Collecting on debts past the statute of limitations without disclosing that fact may violate Section 1692e, as the 2012 class action established.
• Use confusing collection letter language: The Al v. SRM case challenged letters that omitted safe harbor disclosures, leaving consumers unclear about their dispute rights.
• Send automated texts to wrong-number recipients: Continued automated contact after confirming the wrong party is being reached may violate both the FDCPA and TCPA.
• Fail to identify the original creditor: Collection letters must clearly identify the original creditor under FDCPA Section 1692g.
• Continue collection after a written validation request: All activity must pause until SRM produces documentation.

Verify Before Paying SRM

Because SRM has collected on time-barred debt without disclosure, the first question on any SRM account is when the original default occurred. Send a certified validation letter demanding the original creditor’s name, the date of original default, the complete chain of ownership, an itemized balance statement, and written confirmation of whether the statute of limitations has expired in your state.

If SRM cannot confirm the debt is within the statute, demand deletion citing the 2012 Illinois class action.

How to Check Your Credit Report

Pull all three reports at AnnualCreditReport.com and look for Source Receivables Management or Source RM as the furnisher. If the date of first delinquency suggests the debt is near or past your state’s statute of limitations, that is the first dispute angle to pursue before addressing any other account details.

How Long Can SRM Legally Pursue the Debt?

North Carolina allows three years on open accounts and ten years on written contracts. The state where your original account was opened controls the statute, not where SRM is based.

Illinois allows five years on written contracts. Florida allows five years on written contracts and four years on open accounts. Any payment can restart the clock in many states.

Your Options for Resolving the Account

• Check the statute of limitations first: If SRM is collecting on an old account, confirm whether the debt is time-barred in your state before responding to any demand.
• Demand the original creditor name: The 2012 Illinois case shows SRM has documented history of identifying an intermediary rather than the original creditor. Demand the full chain of ownership.
• Document every automated text or call: If SRM has contacted you about someone else’s debt, save every message with timestamps and file simultaneous CFPB and BBB complaints.
• Dispute through all three bureaus: File simultaneous disputes with Experian, Equifax, and TransUnion if the account contains errors or SRM cannot verify the ownership chain.

How to Contact Source Receivables Management

Handle all communication in writing. Send disputes by certified mail with return receipt requested:

• Address: Source Receivables Management, LLC, 4615 Dundas Dr., Suite 102, Greensboro, NC 27407
• Mailing address: Source Receivables Management, LLC, PO Box 4068, Greensboro, NC 27404
• Phone: (877) 251-3775

Bottom Line

SRM has over 800 CFPB complaints and two documented class actions targeting collection letter practices. The time-barred debt case and the Sprint safe harbor case both targeted form letters sent to many consumers, which means the compliance failures are systemic rather than isolated.

Check the statute of limitations and original creditor identification before engaging with any SRM account. Those two issues sit at the center of SRM’s documented legal record.

If an SRM account is on your credit file, the right move depends on when the original debt defaulted, who actually owns it, and whether the collection letter you received met federal disclosure requirements.