Do you have {name} on Your Report?
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FAQs
Who does {name} collect debts for?
{name}, a debt recovery agency, adds debt collection records to your credit report. They often purchase debt from the original lender, such as credit card or loan companies, sometimes at significantly reduced rates, occasionally as low as 10%. Alternatively, they may serve as agents for other firms, tasked with debt retrieval. They frequently contact debtors via mail or phone, demanding payment. Unfortunately, this results in a collections entry on your credit report, negatively impacting your credit score and reducing your opportunities for loan approvals and other financial transactions.
How to Eliminate {name}?
If the details of the {name} account on your credit report are inaccurate, mistaken, or fraudulent, you may have the opportunity to have it expunged, particularly if corrections cannot be made within a reasonable timeframe. The U.S. PIRGs report that 79% of credit reports contain errors or inaccuracies. We specialize in challenging such accounts on behalf of our clients.
Is {name} a Debt Collection Agency?
Yes, {name} operates as a debt recovery firm, appending debt collection records to your credit report. They acquire debt from creditors who have ceased collection efforts, a process commonly known as "charge-off."
Will {name} Damage Your Credit?
Any negative mark within the statute of limitations can significantly impact your credit score, and collections accounts are no exception.
Can You Reach a Settlement with {name}?
Resolving your debt with {name} may positively or negatively impact your credit score, depending on various factors. In some cases, you may not be required to make any payments, and if discrepancies exist in the account, it could potentially be entirely removed, ceasing all further communication.