What Is Radius Global Solutions?

Radius Global Solutions, LLC, is a debt collection and account recovery agency in the U.S. The company is accredited by the Better Business Bureau. The BBB gives them an A+ rating, but customer reviews give them one star out of five.

If Radius Global Solutions has bought one of your debts from the original creditor, you’ll know about it quickly. You’ll get letters and phone calls demanding payment. The collection account will show up on your credit report and your credit score will dive.

You need to deal with this situation. Debt collectors won’t just go away!

Here’s What You Can Do

New Federal debt collection regulations took effect on Nov. 30, 2021. The new rules will have a far-reaching impact on the debt collection industry. If you have delinquent debts or accounts in collection these rules will affect you.

Learn more about Regulation F and what will it mean for consumers with debts.

• Don’t panic. It won’t help.
• Don’t ignore the situation. That won’t help either. They won’t go away.

That’s what you shouldn’t do, but what should you do?

Here’s where to start.

1. Know Your Rights

The Fair Debt Collection Practices Act (FDCPA) spells out the rights of debtors and the obligations of debt collectors. Here are some key points.

• A debt collector cannot call you before 8AM or after 9PM.
• A debt collector cannot call your place of employment.
• If you have a lawyer, the collector must communicate with your lawyer.
• A debt collector may not communicate with your friends or family members or tell them about your debts.
• Debt collectors cannot threaten to harm you, your reputation, or your property, or use profane language.
• Debt collectors must identify themselves and the company they represent. They cannot claim to be law enforcement or other officials.
• A debt collector cannot threaten you with imprisonment or seizure of assets.

For a full review of your rights under the FDCPA see this summary from the Consumer Financial Protection Bureau (CFPB).

If you believe that a debt collector is violating the rules, you can report them to the FTC, the CFPB, and your state’s attorney general.

2. Validate and Verify the Debt

Under the new regulations that came into effect on Nov. 30, 2021, debt collectors must send you a Notice of Debt within 5 days of their first contact with you. This notice must contain much more information than the notices that collectors sent under prior rules.

If the notice is incomplete, it is invalid, and the debt isn’t collectible. That makes it important to know what’s required.

A valid Notice of Debt must contain an itemization date. This can be one of five different dates.

• The date of the last statement or invoice provided to the consumer by the creditor.
• The charge-off date.
• The date of the last payment applied to the debt.
• The date of the transaction that gave rise to the debt.
• The judgment date, if there is court judgment on the debt.

This date will help you establish whether the Statute of Limitations on the debt has expired and when it will drop off your credit report.

The Notice of Debt must also contain extensive information about the debt:

• The debt collector’s name and mailing address.
• The consumer’s full name and mailing address.
• If the debt is related to a financial product (like a loan or credit card), the notice must contain the name of the creditor to whom the debt was owed on the itemization date.
• The account number associated with the debt.
• The name of the creditor to which the debt is currently owed.
• The amount of the current debt and an itemized list of any payments made and added fees, interest, or other charges.

The Notice of Debt must contain a statement advising you of your rights under the Fair Debt Collection Practices Act (FCPA), including a statement that you have the right to dispute the debt within 30 days of receiving the letter.

The notice must also contain a returnable form allowing you to declare that you are disputing the debt and allowing you to select one of three reasons for a dispute:

• This is not my debt.
• The amount is wrong.
• Other (you will need to supply additional information.)

The CFPB has published a sample Notice of Debt that will help you determine whether the one you receive is complete.

Why It’s Important

Many debt collectors who purchased debts before the new regulations came into effect will not have the required information. They may not be able to get it from the original creditor. They may still try to bluff or intimidate you into paying them or admitting that the debt is yours.

If you receive a Notice of Debt, examine it in detail to make sure it complies with the law. If it doesn’t, inform the collector that you will not discuss the debt until you receive a Notice of Debt that complies with Regulation F.

Always Dispute the Debt

If you do not dispute the debt within 30 days, it is presumed valid. Always dispute debts held by collection companies.

If you are using a dispute or debt validation letter template, be sure that the template is designed for notices received after the implementation of Regulation F on Nov. 20, 2021. Much of the information that debtors used to ask for is now required in the Notice of Debt.

Send the debt collector a certified letter addressing these issues.

• Ask for documentation that verifies that you owe the debt, such as a copy of the original contract.
• Ask whether the statute of limitations on the debt has expired. The collector doesn’t have to tell you, but they can’t lie. If they won’t say, the statute of limitations may have expired.
• Ask whether the agency is licensed to collect debt in your state. Again, the collector is not allowed to lie. You can ask for the date of the license, license number, and the state agancy that issued the license as well.
• A copy of the last billing statement sent by the original creditor.

Send the letter to Radius Global Solutions by certified mail.

Once you receive the debt validation letter you have 30 days to send your debt dispute letter.

Remember that even if you know the debt is yours, the more important issue is whether they know it’s yours.

Because guess what?

If they can’t prove it’s yours, they can’t collect it or report it to the credit bureaus.

They might not be able to come up with that proof.  Remember, Radius Global Solutions purchased your debt, in bulk with a bunch of other debt, from the original creditor.

Who knows what was lost in the shuffle?

The onus is on them to provide proof. If they can’t, they’re required by law to remove it from your credit report.

Remember the Statute of Limitations

Always check the date of the debt against the statute of limitations in your state. If the statute of limitations has expired, the collector cannot pursue legal action against you.

The statute of limitations clock begins on the date when the debt was first reported as delinquent.

Remember that making a payment or acknowledging that the debt is yours can restart the statute of limitations.

The expiry of the statute of limitations will not remove an account from your credit record. If the statute of limitations has expired or will expire soon there’s a good chance that the seven-year period of appearance on your credit record is also nearly up.

If the statute of limitations is nearly up your best bet might be to just wait it out.

3. Stop Calls from Radius Global Solutions NOW

Before Nov. 20, 2021, you could get as many as 15 calls per day from a debt collector, according to a Consumer Credit Card Market Report.

That’s way too many.

That has changed. Regulation F places strict limits on collection calls.

• A debt collector cannot call you more than seven times within seven consecutive days.
• If a debt collector speaks to you on the phone they must wait seven days before calling again.

Debt collectors can now contact you by email and text message as well, but you can tell them how they are permitted to contact you and when.

You can stop all communication from a debt collector.

Follow these simple steps to stop the calls.

1. Write a “stop contact” or “cease” letter telling them to stop contacting you.
2. Make a copy for yourself and mail the original to Radius Global Solutions.
3. To prove you sent the letter, send it by certified mail with “return receipt requested.”

Make sure you follow these exact steps.

If you do, the National Consumer Law Center states, “the collector can only acknowledge the letter and notify you about legal steps the collector may take.”

When you stop the phone calls, you get some breathing room. Remember that you still owe the debt, and the collector can take legal action.

Then you can tackle the next step.

4. Contest the Debt With the Credit Bureaus

If you believe that you do not owe the debt or that the collection agency has failed to validate the debt, you can file a dispute with the credit bureaus. You will need to dispute the account separately with each credit bureau.

Credit Reporting Bureau Mailing Addresses

You can also dispute it online:

• Equifax
• Experian
• TransUnion

The credit bureau must investigate and verify your debt. If they cannot, they must remove it from your credit record.

Remember that even if the debt is removed from your credit record, the collection agency can still pursue collection efforts.

Get Your FREE Credit Dispute Letter Template

Get our winning dispute letter, plus free tips to help you boost your credit.

Download Now!

5. Settle With a Pay for Delete Agreement

While occasionally the collection debt isn’t yours, most of the time, it is. If that’s the case, a settlement is one way to resolve the situation.

Remember that debt collectors pay, on average, 4 cents for every dollar of debt that they buy. That gives you room to negotiate. A collector can accept less than you owe and still make a profit.

An article from U.S. News & World Report found that collection agencies will settle for between 40-60% of the balance – which could mean thousands of dollars saved.

You might offer 10% of your balance to see what they say.

They’ll probably ask for more, but don’t let them push you around. With a little negotiation, you can reach an agreement you’re comfortable with.

Pay for Delete

A collection agency may agree to remove your account from your credit record if you settle your debt. This is a “pay for delete” arrangement.

When you discuss a settlement, ask the collection agency representative if they will delete your record if you pay. Send a formal “pay for delete letter” to confirm the arrangement and ask for a written commitment.

Remember that you cannot compel a credit bureau to remove a legitimate account from your record. It will be recorded as paid, but it may remain on your credit report for seven years from the date when the account first became delinquent.

A pay-for-delete arrangement is a gamble. It may not work, but it’s worth trying. If they accept the settlement you will no longer have to deal with the collection agency, and that’s a big plus.

Get Your FREE Pay for Delete Letter Template

After much testing, we have put written a great pay to delete letter you can use to get started.

Download Now!

Hire A Credit Repair Company

If you don’t want to go through all the trouble of writing letters and negotiating with Radius Global Solutions on the phone, consider hiring a credit repair company to help.

A credit repair company is equipped to deal with aggressive debt collectors to help you get the best possible outcome.

The credit repair industry has earned a terrible reputation, and you’ll have to look out for disreputable companies and credit repair scams. There are still some companies that are legitimate and helpful.

Choosing to work with an expert sooner rather than later can save you a lot of time and money in the long run.

Get Professional Help

We analyzed 21 credit repair companies based on price, service, and results, and picked our top three choices.

Best Credit Repair Companies

Then you can sit back and relax while the credit pros do all the work.

If you’d rather do it yourself, that’s okay, too.

What If They Sue?

Collection agencies will take you to court, sometimes over quite small amounts. If a debt collector sues you, don’t ignore the case.

If you don’t respond, the judge will probably issue a summary judgment against you. You will be ordered to repay the debt. If you don’t, your wages could be garnished. In some states, your assets could be seized.

Not all companies will exercise their right to file a lawsuit against you, but a lawsuit is always a possibility when dealing with an aggressive debt collector.

Important! Read up on what to do if you get sued by a debt collector to make sure you take all the right steps.

Free Yourself From Radius Global Solutions

Debt collectors will not go away on their own. They will keep harassing you, and you might end up in court. Running away is not an option.

Instead, take the initiative. Learn how to communicate with debt collectors and know your rights. You can control the process and the situation if you’re aware and proactive.

It’s not going to be a pleasant experience, but it will be a better experience if you’re in the driver’s seat!

The post How to Get Radius Global Solutions Off Your Credit Report appeared first on FinMasters.

Important: This article provides DIY methods for removing Portfolio Recovery from your credit file.  If you don’t have the time or patience to work on your credit, we highly recommend checking out one of our top rated credit repair companies.

What Is MRS Associates?

MRS Associates, which is legally known as, MRS BPO LLC was founded in 1991 and is located in Cherry Hill, New Jersey.

We are often asked, ‘Is MRS a debt collector?’ The simple answer is yes, but not for other companies. They buy your debt at a discount from your creditors and then attempt to collect everything you owe plus penalties and interest.

What Can I Do?

New Federal debt collection regulations took effect on Nov. 30, 2021. The new rules will have a far-reaching impact on the debt collection industry. If you have delinquent debts or accounts in collection these rules will affect you.
Learn more about Regulation F and what will it mean for consumers with debts.

If you’re hearing from MRS Associates – or any collection agency – there are things that you can (and should) do. There are also two things that you should not do:

• Don’t Panic. It won’t help.
• Don’t ignore the situation. That won’t help either. They won’t go away.

That’s what you shouldn’t do, but what should you do?

Here’s where to start.

NOTE: These are DIY steps.
If you get lost along the way or don’t have time to work on this by yourself, you can get help from Credit Saint, our #1 recommended credit repair company.

1. Know Your Rights

The rights of debtors and the obligations of debt collectors are spelled out in the Fair Debt Collection Practices Act (FDCPA). Here are some key points.

• A debt collector cannot call you before 8AM or after 9PM.
• A debt collector cannot call your place of employment.
• If you have a lawyer, the collector must communicate with your lawyer.
• A debt collector may not communicate with your friends or family members or tell them about your debts.
• Debt collectors cannot threaten to harm you, your reputation, or your property, or use profane language.
• Debt collectors must identify themselves and the company they represent. They cannot claim to be law enforcement or other officials.
• A debt collector cannot threaten you with imprisonment or seizure of assets.

For a full review of your rights under the FDCPA see this summary from the Consumer Financial Protection Bureau (CFPB).

If you believe that a debt collector is violating the rules, you can report them to the FTC, the CFPB, and your state’s attorney general.

2. Validate and Verify the Debt

Under the new regulations that came into effect on Nov. 30, 2021, debt collectors must send you a Notice of Debt within 5 days of their first contact with you. This notice must contain much more information than the notices that collectors sent under prior rules.

If the notice is incomplete, it is invalid, and the debt isn’t collectible. That makes it important to know what’s required.

A valid Notice of Debt must contain an itemization date. This can be one of five different dates.

• The date of the last statement or invoice provided to the consumer by the creditor.
• The charge-off date.
• The date of the last payment applied to the debt.
• The date of the transaction that gave rise to the debt.
• The judgment date, if there is court judgment on the debt.

This date will help you establish whether the Statute of Limitations on the debt has expired and when it will drop off your credit report.

The Notice of Debt must also contain extensive information about the debt:

• The debt collector’s name and mailing address.
• The consumer’s full name and mailing address.
• If the debt is related to a financial product (like a loan or credit card), the notice must contain the name of the creditor to whom the debt was owed on the itemization date.
• The account number associated with the debt.
• The name of the creditor to which the debt is currently owed.
• The amount of the current debt and an itemized list of any payments made and added fees, interest, or other charges.

The Notice of Debt must contain a statement advising you of your rights under the Fair Debt Collection Practices Act (FCPA), including a statement that you have the right to dispute the debt within 30 days of receiving the letter.

The notice must also contain a returnable form allowing you to declare that you are disputing the debt and allowing you to select one of three reasons for a dispute:

• This is not my debt.
• The amount is wrong.
• Other (you will need to supply additional information.)

The CFPB has published a sample Notice of Debt that will help you determine whether the one you receive is complete.

Why It’s Important

Many debt collectors who purchased debts before the new regulations came into effect will not have the required information. They may not be able to get it from the original creditor. They may still try to bluff or intimidate you into paying them or admitting that the debt is yours.

If you receive a Notice of Debt, examine it in detail to make sure it complies with the law. If it doesn’t, inform the collector that you will not discuss the debt until you receive a Notice of Debt that complies with Regulation F.

Always Dispute the Debt

If you do not dispute the debt within 30 days, it is presumed valid. Always dispute debts held by collection companies.

If you are using a dispute or debt validation letter template, be sure that the template is designed for notices received after the implementation of Regulation F on Nov. 20, 2021. Much of the information that debtors used to ask for is now required in the Notice of Debt.

Send the debt collector a certified letter addressing these issues.

• Ask for documentation that verifies that you owe the debt, such as a copy of the original contract.
• Ask whether the statute of limitations on the debt has expired. The collector doesn’t have to tell you, but they can’t lie. If they won’t say, the statute of limitations may have expired.
• Ask whether the agency is licensed to collect debt in your state. Again, the collector is not allowed to lie. You can ask for the date of the license, license number, and the state agancy that issued the license as well.
• A copy of the last billing statement sent by the original creditor.

Send the letter to MRS Associates by certified mail.

Once you receive the debt validation letter you have 30 days to send your debt dispute letter.

Remember that even if you know the debt is yours, the more important issue is whether they know it’s yours.

Because guess what?

If they can’t prove it’s yours, they can’t collect it or report it to the credit bureaus.

They might not be able to come up with that proof.  Remember, MRS Associates purchased your debt, in bulk with a bunch of other debt, from the original creditor.

Who knows what was lost in the shuffle?

The onus is on them to provide proof. If they can’t, they’re required by law to remove it from your credit report.

Remember the Statute of Limitations

Always check the date of the debt against the statute of limitations in your state. If the statute of limitations has expired, the collector cannot pursue legal action against you.

The statute of limitations clock begins on the date when the debt was first reported as delinquent.

Remember that making a payment or acknowledging that the debt is yours can restart the statute of limitations.

The expiry of the statute of limitations will not remove an account from your credit record. If the statute of limitations has expired or will expire soon there’s a good chance that the seven-year period of appearance on your credit record is also nearly up.

If the statute of limitations is nearly up your best bet might be to just wait it out.

3. Stop Calls From MRS Associates NOW

Before Nov. 20, 2021, you could get as many as 15 calls per day from a debt collector, according to a Consumer Credit Card Market Report.

That’s way too many.

That has changed. Regulation F places strict limits on collection calls.

• A debt collector cannot call you more than seven times within seven consecutive days.
• If a debt collector speaks to you on the phone they must wait seven days before calling again.

Debt collectors can now contact you by email and text message as well, but you can tell them how they are permitted to contact you and when.

You can stop all communication from a debt collector.

Follow these simple steps to stop the calls.

1. Write a “stop contact” or “cease” letter telling them to stop contacting you.
2. Make a copy for yourself and mail the original to MRS Associates.
3. To prove you sent the letter, send it by certified mail with “return receipt requested.”

Make sure you follow these exact steps.

If you do, the National Consumer Law Center states, “the collector can only acknowledge the letter and notify you about legal steps the collector may take.”

When you stop the phone calls, you get some breathing room. Remember that you still owe the debt, and the collector can take legal action.

Then you can tackle the next step.

4. Contest the Debt With the Credit Bureaus

If you believe that you do not owe the debt or that the collection agency has failed to validate the debt, you can file a dispute with the credit bureaus. You will need to dispute the account separately with each credit bureau.

Credit Reporting Bureau Mailing Addresses

You can also dispute it online:

• Equifax
• Experian
• TransUnion

The credit bureau must investigate and verify your debt. If they cannot, they must remove it from your credit record.

Remember that even if the debt is removed from your credit record, the collection agency can still pursue collection efforts.

Get Your FREE Credit Dispute Letter Template

Get our winning dispute letter, plus free tips to help you boost your credit.

Download Now!

5. Settle With a Pay for Delete Agreement

While occasionally the collection debt isn’t yours, most of the time, it is. If that’s the case, a settlement is one way to resolve the situation.

Remember that debt collectors pay, on average, 4 cents for every dollar of debt that they buy. That gives you room to negotiate. A collector can accept less than you owe and still make a profit.

An article from U.S. News & World Report found that collection agencies will settle for between 40-60% of the balance – which could mean thousands of dollars saved.

You might offer 10% of your balance to see what they say.

They’ll probably ask for more, but don’t let them push you around. With a little negotiation, you can reach an agreement you’re comfortable with.

Pay for Delete

A collection agency may agree to remove your account from your credit record if you settle your debt. This is called a “pay for delete” arrangement.

When you discuss a settlement, ask the collection agency representative if they will delete your record if you pay. Send a formal “pay for delete letter” to confirm the arrangement and ask for a written commitment.

Remember that you cannot compel a credit bureau to remove a legitimate account from your record. It will be recorded as paid, but it may remain on your credit report for seven years from the date when the account first became delinquent.

A pay-for-delete arrangement is a gamble. It may not work, but it’s worth trying. If the settlement is accepted you will no longer have to deal with the collection agency, and that’s a big plus.

Does MRS Associates Report To Credit Bureaus

If you’re being contacted by MRS  or you see them on your credit report, they now own your debt and they have the right to collect it.

Either way, they are going to work as hard as they can to try to get you to repay your debts.

One of those ways is reporting your collection account to the credit bureaus. It will appear on your credit report as a collection account, and your credit will take a significant hit.

Who Does MRS Associates Collect For?

Generally, MRS Associates Inc collects debts that they have purchased from your creditors.

However, like any large business, they do also collect for some of the more well-known companies out there.

For instance, we have seen collection reports with names such as MRS BPO Chase, MRS Associates Verizon, and MRSBPO AT&T.

MRSBPO doesn’t mention on their website who their customers are, however, based on reviews and complaints, there is a good chance that they work with Chase, Verizon, and AT&T.

You Don’t Have To Go At It Alone

Dealing with debt collectors can be an emotional and time-consuming endeavor.

Whether you’ve been contacted by MRS Associates Inc, MRS BPO LLC, MRSBPO, MRS Collection, MRS BPO, LLC, or MRS Collections, they are all one and the same and must be addressed.

The credit repair industry has earned a terrible reputation, and you’ll have to look out for disreputable companies and credit repair scams. There are still some companies that are legitimate and helpful.

If you find yourself looking for help to send letters and begin repairing your credit, you may want to consider hiring one of our top credit repair companies.

They’ll help you deal with your creditors and give you steps you can take to improve your credit.

Get Professional Help

We analyzed 21 credit repair companies based on price, service, and results, and picked our top three choices.

Best Credit Repair Companies

The post How to Deal With MRS Associates or Any Other Collection Agency appeared first on FinMasters.

First, resolving your debt with Transworld Systems is crucial; their methods can be unrelenting and may lead to legal action. Second, you need to safeguard your credit score, as collection accounts can significantly damage it.

You can resolve the debt and protect your credit. Let’s look at how.

Is Transworld Systems Inc. Legitimate?

The first question you may ask yourself when you receive a call or letter in the mail from this company is ‘is Transworld Systems legitimate?’ There are debt collection scams out there. It’s important to always do your due diligence before you talk to a company or send them any money.

Transworld Systems Incorporated (TSI) is a legitimate debt collection company. They have been around since 1970 and have over 600 employees.

The company is not currently accredited by the Better Business Bureau but they do have a ‘B’ rating on their profile.

They collected $725 million for their clients in 2019 alone and have 29 service locations across the country.

What Kind Of Company Is Transworld Systems (TSI)?

Transworld Systems Incorporated is one of the largest debt collection agencies. Creditors hire them to collect debts or sell them debts that they are unable to collect.

If your debt has been sent to them, they will contact you either by phone or mail to attempt to collect the debt.

The company participates in a debt collection tactic called skip tracing in an effort to locate the whereabouts of debtors who have relocated or are simply not answering their calls or letters.

There have been reports of them taking aggressive measures to collect debt like making daily calls for several weeks straight along with sending wage garnishment letters to debtors.

Transworld Systems Incorporated is a challenging company to deal with, but you can get them off your credit report and out of your life.

Who Does Transworld Systems Collect For

Transworld Systems collects for various financial organizations, state and federal government organizations, educational institutions, healthcare providers, Fortune 100 corporations, and small and medium businesses. They also provide B2B commercial collections.

Need Cash for Holiday Shopping? Personal Loans may offer a solution.

See which loans you prequalify for by answering a few questions. It only takes two minutes and has no impact on your credit score.

Get Started

Here’s What You Can Do

New Federal debt collection regulations took effect on Nov. 30, 2021. The new rules will have a far-reaching impact on the debt collection industry. If you have delinquent debts or accounts in collection these rules will affect you.

Learn more about Regulation F and what will it mean for consumers with debts.

If you’re hearing from Transworld Systems – or any collection agency – there are things that you can (and should) do. There are also two things that you should not do:

• Don’t panic. It won’t help.
• Don’t ignore the situation. That won’t help either. They won’t go away.

That’s what you shouldn’t do, but what should you do?

Here’s where to start.

1. Know Your Rights

The Fair Debt Collection Practices Act (FDCPA) spells out the rights of debtors and the obligations of debt collectors. Here are some key points.

• A debt collector cannot call you before 8AM or after 9PM.
• A debt collector cannot call your place of employment.
• If you have a lawyer, the collector must communicate with your lawyer.
• A debt collector may not communicate with your friends or family members or tell them about your debts.
• Debt collectors cannot threaten to harm you, your reputation, or your property, or use profane language.
• Debt collectors must identify themselves and the company they represent. They cannot claim to be law enforcement or other officials.
• A debt collector cannot threaten you with imprisonment or seizure of assets.

For a full review of your rights under the FDCPA see this summary from the Consumer Financial Protection Bureau (CFPB).

If you believe that a debt collector is violating the rules, you can report them to the FTC, the CFPB, and your state’s attorney general.

2. Validate and Verify the Debt With Transworld Systems

Under the new regulations that came into effect on Nov. 30, 2021, debt collectors must send you a Notice of Debt within 5 days of their first contact with you. This notice must contain much more information than the notices that collectors sent under prior rules.

If the notice is incomplete, it is invalid, and the debt isn’t collectible. That makes it important to know what’s required.

A valid Notice of Debt must contain an itemization date. This can be one of five different dates.

• The date of the last statement or invoice provided to the consumer by the creditor.
• The charge-off date.
• The date of the last payment applied to the debt.
• The date of the transaction that gave rise to the debt.
• The judgment date, if there is court judgment on the debt.

This date will help you establish whether the Statute of Limitations on the debt has expired and when it will drop off your credit report.

The Notice of Debt must also contain extensive information about the debt:

• The debt collector’s name and mailing address.
• The consumer’s full name and mailing address.
• If the debt is related to a financial product (like a loan or credit card), the notice must contain the name of the creditor to whom the debt was owed on the itemization date.
• The account number associated with the debt.
• The name of the creditor to which the debt is currently owed.
• The amount of the current debt and an itemized list of any payments made and added fees, interest, or other charges.

The Notice of Debt must contain a statement advising you of your rights under the Fair Debt Collection Practices Act (FCPA), including a statement that you have the right to dispute the debt within 30 days of receiving the letter.

The notice must also contain a returnable form allowing you to declare that you are disputing the debt and allowing you to select one of three reasons for a dispute:

• This is not my debt.
• The amount is wrong.
• Other (you will need to supply additional information.)

The CFPB has published a sample Notice of Debt that will help you determine whether the one you receive is complete.

Why It’s Important

Many debt collectors who purchased debts before the new regulations came into effect will not have the required information. They may not be able to get it from the original creditor. They may still try to bluff or intimidate you into paying them or admitting that the debt is yours.

If you receive a Notice of Debt, examine it in detail to make sure it complies with the law. If it doesn’t, inform the collector that you will not discuss the debt until you receive a Notice of Debt that complies with Regulation F.

Always Dispute the Debt

If you do not dispute the debt within 30 days, it is presumed valid. Always dispute debts held by collection companies.

If you are using a dispute or debt validation letter template, be sure that the template is designed for notices received after the implementation of Regulation F on Nov. 20, 2021. Much of the information that debtors used to ask for is now required in the Notice of Debt.

Send the debt collector a certified letter addressing these issues.

• Ask for documentation that verifies that you owe the debt, such as a copy of the original contract.
• Ask whether the statute of limitations on the debt has expired. The collector doesn’t have to tell you, but they can’t lie. If they won’t say, the statute of limitations may have expired.
• Ask whether the agency is licensed to collect debt in your state. Again, the collector is not allowed to lie. You can ask for the date of the license, license number, and the state agancy that issued the license as well.
• A copy of the last billing statement sent by the original creditor.

Send the letter to Transworld Systems by certified mail.

Once you receive the debt validation letter you have 30 days to send your debt dispute letter.

Remember that even if you know the debt is yours, the more important issue is whether they know it’s yours.

Because guess what?

If they can’t prove it’s yours, they can’t collect it or report it to the credit bureaus.

They might not be able to come up with that proof.  Remember, Transworld Systems purchased your debt, in bulk with a bunch of other debt, from the original creditor.

Who knows what was lost in the shuffle?

The onus is on them to provide proof. If they can’t, they’re required by law to remove it from your credit report.

Remember the Statute of Limitations

Always check the date of the debt against the statute of limitations in your state. If the statute of limitations has expired, the collector cannot pursue legal action against you.

The statute of limitations clock begins on the date when the debt was first reported as delinquent.

Remember that making a payment or acknowledging that the debt is yours can restart the statute of limitations.

The expiry of the statute of limitations will not remove an account from your credit record. If the statute of limitations has expired or will expire soon there’s a good chance that the seven-year period of appearance on your credit record is also nearly up.

If the statute of limitations is nearly up your best bet might be to just wait it out.

3. Stop Calls from Transworld Systems NOW

Before Nov. 20, 2021, you could get as many as 15 calls per day from a debt collector, according to a Consumer Credit Card Market Report.

That’s way too many.

That has changed. Regulation F places strict limits on collection calls.

• A debt collector cannot call you more than seven times within seven consecutive days.
• If a debt collector speaks to you on the phone they must wait seven days before calling again.

Debt collectors can now contact you by email and text message as well, but you can tell them how they are permitted to contact you and when.

You can stop all communication from a debt collector.

Follow these simple steps to stop the calls.

1. Write a “stop contact” or “cease” letter telling them to stop contacting you.
2. Make a copy for yourself and mail the original to Transworld Systems.
3. To prove you sent the letter, send it by certified mail with “return receipt requested.”

Make sure you follow these exact steps.

If you do, the National Consumer Law Center states, “the collector can only acknowledge the letter and notify you about legal steps the collector may take.”

When you stop the phone calls, you get some breathing room. Remember that you still owe the debt, and the collector can take legal action.

Then you can tackle the next step.

4. Contest the Debt With the Credit Bureaus

If you believe that you do not owe the debt or that the collection agency has failed to validate the debt, you can file a dispute with the credit bureaus. You will need to dispute the account separately with each credit bureau.

Credit Reporting Bureau Mailing Addresses

You can also dispute it online:

• Equifax
• Experian
• TransUnion

The credit bureau must investigate and verify your debt. If they cannot, they must remove it from your credit record.

Remember that even if the debt is removed from your credit record, the collection agency can still pursue collection efforts.

Get Your FREE Credit Dispute Letter Template

Get our winning dispute letter, plus free tips to help you boost your credit.

Download Now!

5. Settle With Transworld Systems With a Pay for Delete Agreement

While occasionally, the collection debt isn’t yours, most of the time, it is. If Transworld Systems validates your debt, a pay for delete is one way to settle with them. If you offer to pay a part of your debt, they may agree to remove it from your credit report.

Remember that debt collectors pay, on average, 4 cents for every dollar of debt that they buy. That gives you room to negotiate. A collector can accept less than you owe and still make a profit.

An article from U.S. News & World Report found that collection agencies will settle for between 40-60% of the balance – which could mean thousands of dollars saved.

You might offer 10% of your balance to see what they say.

They’ll probably ask for more, but don’t let them push you around. With a little negotiation, you can reach an agreement you’re comfortable with.

Pay for Delete

A collection agency may agree to remove your account from your credit record if you settle your debt. This is a “pay for delete” arrangement.

When you discuss a settlement, ask the Transworld Systems’ representative if they will delete your record if you pay. Send a formal “pay for delete letter” to confirm the arrangement and ask for a written commitment.

Remember that you cannot compel a credit bureau to remove a legitimate account from your record. It will be recorded as paid, but it may remain on your credit report for seven years from the date when the account first became delinquent.

A pay-for-delete arrangement is a gamble. It may not work, but it’s worth trying. If they accept the settlement you will no longer have to deal with the collection agency, and that’s a big plus.

Get Your FREE Pay for Delete Letter Template

After much testing, we have put written a great pay to delete letter you can use to get started.

Download Now!

Hire A Credit Repair Company

If you don’t want to go through all the trouble of writing letters and negotiating with Transworld Systems on the phone, consider hiring a credit repair company to help.

A credit repair company is equipped to deal with aggressive debt collectors to help you get the best possible outcome.

The credit repair industry has earned a terrible reputation, and you’ll have to look out for disreputable companies and credit repair scams. There are still some companies that are legitimate and helpful.

Choosing to work with an expert sooner rather than later can save you a lot of time and money in the long run.

Get Professional Help

We analyzed 21 credit repair companies based on price, service, and results, and picked our top three choices.

Best Credit Repair Companies

Then you can sit back and relax while the credit pros do all the work.

If you’d rather do it yourself, that’s okay, too.

What If They Sue?

Collection agencies will take you to court, sometimes over quite small amounts. If a debt collector sues you, don’t ignore the case.

If you don’t respond, the judge will probably issue a summary judgment against you. You will be ordered to repay the debt. If you don’t, your wages could be garnished. In some states, your assets could be seized.

Not all companies will exercise their right to file a lawsuit against you, but a lawsuit is always a possibility when dealing with an aggressive debt collector.

Important! Read up on what to do if you get sued by a debt collector to make sure you take all the right steps.

Free Yourself From Transworld Systems Incorporated (TSI)

Debt collectors will not go away on their own. They will keep harassing you, and you might end up in court. Running away is not an option.

Instead, take the initiative. Learn how to communicate with debt collectors and know your rights. You can control the process and the situation if you’re aware and proactive.

It’s not going to be a pleasant experience, but it will be a better experience if you’re in the driver’s seat!

The post How To Remove Transworld Systems From Your Credit Report appeared first on FinMasters.

Is Wakefield And Associates Real?

This is a valid question to ask if you’re never heard of this company before. It’s not uncommon for illegitimate debt collection companies to contact consumers and claim they owe a balance.

Wakefield and Associates is legitimate and has been in business since 1986. The company is headquartered in Aurora, Colorado with locations in Knoxville Tennessee, and has over 175 employees.

Although Wakefield and Associates has an A rating with the Better Business Bureau, they are not accredited and have also had 377 complaints closed in the past 3 years.

The company have quite a few locations across the U.S. and may go by some of these names including:

• Wakefield and Associates Inc
• Wakefield and Associates Morgan Colorado
• Wakefield and Associates Colorado
• Wakefield and Associates Knoxville TN
• Wakefield and Associates Jefferson City MO

What Can I Do?

New Federal debt collection regulations took effect on Nov. 30, 2021. The new rules will have a far-reaching impact on the debt collection industry. If you have delinquent debts or accounts in collection these rules will affect you.

Learn more about Regulation F and what will it mean for consumers with debts.

If you’re hearing from Wakefield and Associates – or any collection agency – there are things that you can (and should) do. There are also two things that you should not do:

• Don’t Panic. It won’t help.
• Don’t ignore the situation. That won’t help either. They won’t go away.

That’s what you shouldn’t do, but what should you do?

Here’s where to start.

NOTE: These are DIY steps.
If you get lost along the way or don’t have time to work on this by yourself, you can get help from Credit Saint, our #1 recommended credit repair company.

1. Know Your Rights

The rights of debtors and the obligations of debt collectors are spelled out in the Fair Debt Collection Practices Act (FDCPA). Here are some key points.

• A debt collector cannot call you before 8AM or after 9PM.
• A debt collector cannot call your place of employment.
• If you have a lawyer, the collector must communicate with your lawyer.
• A debt collector may not communicate with your friends or family members or tell them about your debts.
• Debt collectors cannot threaten to harm you, your reputation, or your property, or use profane language.
• Debt collectors must identify themselves and the company they represent. They cannot claim to be law enforcement or other officials.
• A debt collector cannot threaten you with imprisonment or seizure of assets.

For a full review of your rights under the FDCPA see this summary from the Consumer Financial Protection Bureau (CFPB).

If you believe that a debt collector is violating the rules, you can report them to the FTC, the CFPB, and your state’s attorney general.

2. Validate and Verify the Debt

Under the new regulations that came into effect on Nov. 30, 2021, debt collectors must send you a Notice of Debt within 5 days of their first contact with you. This notice must contain much more information than the notices that collectors sent under prior rules.

If the notice is incomplete, it is invalid, and the debt isn’t collectible. That makes it important to know what’s required.

A valid Notice of Debt must contain an itemization date. This can be one of five different dates.

• The date of the last statement or invoice provided to the consumer by the creditor.
• The charge-off date.
• The date of the last payment applied to the debt.
• The date of the transaction that gave rise to the debt.
• The judgment date, if there is court judgment on the debt.

This date will help you establish whether the Statute of Limitations on the debt has expired and when it will drop off your credit report.

The Notice of Debt must also contain extensive information about the debt:

• The debt collector’s name and mailing address.
• The consumer’s full name and mailing address.
• If the debt is related to a financial product (like a loan or credit card), the notice must contain the name of the creditor to whom the debt was owed on the itemization date.
• The account number associated with the debt.
• The name of the creditor to which the debt is currently owed.
• The amount of the current debt and an itemized list of any payments made and added fees, interest, or other charges.

The Notice of Debt must contain a statement advising you of your rights under the Fair Debt Collection Practices Act (FCPA), including a statement that you have the right to dispute the debt within 30 days of receiving the letter.

The notice must also contain a returnable form allowing you to declare that you are disputing the debt and allowing you to select one of three reasons for a dispute:

• This is not my debt.
• The amount is wrong.
• Other (you will need to supply additional information.)

The CFPB has published a sample Notice of Debt that will help you determine whether the one you receive is complete.

Why It’s Important

Many debt collectors who purchased debts before the new regulations came into effect will not have the required information. They may not be able to get it from the original creditor. They may still try to bluff or intimidate you into paying them or admitting that the debt is yours.

If you receive a Notice of Debt, examine it in detail to make sure it complies with the law. If it doesn’t, inform the collector that you will not discuss the debt until you receive a Notice of Debt that complies with Regulation F.

Always Dispute the Debt

If you do not dispute the debt within 30 days, it is presumed valid. Always dispute debts held by collection companies.

If you are using a dispute or debt validation letter template, be sure that the template is designed for notices received after the implementation of Regulation F on Nov. 20, 2021. Much of the information that debtors used to ask for is now required in the Notice of Debt.

Send the debt collector a certified letter addressing these issues.

• Ask for documentation that verifies that you owe the debt, such as a copy of the original contract.
• Ask whether the statute of limitations on the debt has expired. The collector doesn’t have to tell you, but they can’t lie. If they won’t say, the statute of limitations may have expired.
• Ask whether the agency is licensed to collect debt in your state. Again, the collector is not allowed to lie. You can ask for the date of the license, license number, and the state agancy that issued the license as well.
• A copy of the last billing statement sent by the original creditor.

Send the letter to Wakefield and Associates by certified mail.

Once you receive the debt validation letter you have 30 days to send your debt dispute letter.

Remember that even if you know the debt is yours, the more important issue is whether they know it’s yours.

Because guess what?

If they can’t prove it’s yours, they can’t collect it or report it to the credit bureaus.

They might not be able to come up with that proof.  Remember, Wakefield and Associates purchased your debt, in bulk with a bunch of other debt, from the original creditor.

Who knows what was lost in the shuffle?

The onus is on them to provide proof. If they can’t, they’re required by law to remove it from your credit report.

Remember the Statute of Limitations

Always check the date of the debt against the statute of limitations in your state. If the statute of limitations has expired, the collector cannot pursue legal action against you.

The statute of limitations clock begins on the date when the debt was first reported as delinquent.

Remember that making a payment or acknowledging that the debt is yours can restart the statute of limitations.

The expiry of the statute of limitations will not remove an account from your credit record. If the statute of limitations has expired or will expire soon there’s a good chance that the seven-year period of appearance on your credit record is also nearly up.

If the statute of limitations is nearly up your best bet might be to just wait it out.

3. Stop Calls from Wakefield and Associates NOW

Before Nov. 20, 2021, you could get as many as 15 calls per day from a debt collector, according to a Consumer Credit Card Market Report.

That’s way too many.

That has changed. Regulation F places strict limits on collection calls.

• A debt collector cannot call you more than seven times within seven consecutive days.
• If a debt collector speaks to you on the phone they must wait seven days before calling again.

Debt collectors can now contact you by email and text message as well, but you can tell them how they are permitted to contact you and when.

You can stop all communication from a debt collector.

Follow these simple steps to stop the calls.

1. Write a “stop contact” or “cease” letter telling them to stop contacting you.
2. Make a copy for yourself and mail the original to Wakefield and Associates.
3. To prove you sent the letter, send it by certified mail with “return receipt requested.”

Make sure you follow these exact steps.

If you do, the National Consumer Law Center states, “the collector can only acknowledge the letter and notify you about legal steps the collector may take.”

When you stop the phone calls, you get some breathing room. Remember that you still owe the debt, and the collector can take legal action.

Then you can tackle the next step.

4. Contest the Debt With the Credit Bureaus

If you believe that you do not owe the debt or that the collection agency has failed to validate the debt, you can file a dispute with the credit bureaus. You will need to dispute the account separately with each credit bureau.

Credit Reporting Bureau Mailing Addresses

You can also dispute it online:

• Equifax
• Experian
• TransUnion

The credit bureau must investigate and verify your debt. If they cannot, they must remove it from your credit record.

Remember that even if the debt is removed from your credit record, the collection agency can still pursue collection efforts.

Get Your FREE Credit Dispute Letter Template

Get our winning dispute letter, plus free tips to help you boost your credit.

Download Now!

5. Settle With A Pay For Delete Agreement

While occasionally the collection debt isn’t yours, most of the time, it is. If that’s the case, a settlement is one way to resolve the situation.

Remember that debt collectors pay, on average, 4 cents for every dollar of debt that they buy. That gives you room to negotiate. A collector can accept less than you owe and still make a profit.

An article from U.S. News & World Report found that collection agencies will settle for between 40-60% of the balance – which could mean thousands of dollars saved.

You might offer 10% of your balance to see what they say.

They’ll probably ask for more, but don’t let them push you around. With a little negotiation, you can reach an agreement you’re comfortable with.

Pay for Delete

A collection agency may agree to remove your account from your credit record if you settle your debt. This is called a “pay for delete” arrangement.

When you discuss a settlement, ask the collection agency representative if they will delete your record if you pay. Send a formal “pay for delete letter” to confirm the arrangement and ask for a written commitment.

Remember that you cannot compel a credit bureau to remove a legitimate account from your record. It will be recorded as paid, but it may remain on your credit report for seven years from the date when the account first became delinquent.

A pay-for-delete arrangement is a gamble. It may not work, but it’s worth trying. If the settlement is accepted you will no longer have to deal with the collection agency, and that’s a big plus.

Get Your FREE Pay for Delete Letter Template

After much testing, we have put written a great pay to delete letter you can use to get started.

Download Now!

The only major downside is that many debt collection agencies may push back against this idea or say they don’t do it.

It’s best to get the company to agree in writing so they don’t go back on their word.

In recent years, people have had some luck with getting Wakefield and Associates to arrange a phone call to discuss pay for delete agreement, but it seems this company shies away from setting up terms in writing.

It’s worth a try but there are no guarantees.

Hire A Credit Repair Company

If you don’t want to go through all the trouble of writing letters and negotiating with Wakefield and Associates Inc on the phone, you can always consider hiring a credit repair company to help.

A credit repair company is equipped to deal with aggressive debt collectors to help you get the best possible outcome.

The credit repair industry has earned a terrible reputation, and you’ll have to look out for disreputable companies and credit repair scams. There are still some companies that are legitimate and helpful.

Choosing to work with an expert sooner rather than later can save you a lot of time and money in the long run.

Get Professional Help

We analyzed 21 credit repair companies based on price, service, and results, and picked our top three choices.

Best Credit Repair Companies

Wakefield And Associates Lawsuit

If you’re wondering does Wakefield and Associates have a right to sue me, the answer is yes. If you fail to pay back a debt collection company like Wakefield and Associates, there is a chance you could get sued.

If you don’t respond, the judge will probably issue a summary judgment against you. You will be ordered to repay the debt. If you don’t, your wages could be garnished. In some states, your assets could be seized.

Not all companies will exercise their right to file a lawsuit against you, but it’s a harsh reality when dealing with an aggressive debt collector.

Important! Read up on what to do if you get sued by a debt collector to make sure you take all the right steps.

Bottom Line

The bottom line is that Wakefield and Associates Inc is not going to go away on its own. It can be draining to receive constant calls from a debt collector, but you can fight back and possibly even get the negative mark removed from your credit.

The key is to know your rights and utilize the tools and resources available to you for negotiation. If you’re ready to get rid of Wakefield and Associates once and for all, there is light at the end of the tunnel.

The post How To Get Wakefield And Associates Off Your Credit Report appeared first on FinMasters.

What Is Sunrise Credit Services?

Sunrise Credit Services is an account receivable and collections agency that has been around since 1975. They are currently headquartered in Farmingdale, NY, and their sister companies include NetTel USA and Sunrise Capital Management.

Sunrise Credit Services typically provides 3rd-party collection services for retailers, banks, and other industries. The company has been accredited with the Better Business Bureau since 2012 and has an A+ rating.

However, they only have one star in terms of customer satisfaction and over 150 customer complaints. Some of the complaints involve people’s experience with bad customer service or not enough information regarding their debt accounts.

Like most other collection agencies, Sunrise Credit Services is quick to report your account to the credit bureau and try to collect your debt without taking the time to understand and respect your rights as a consumer. If you want to know how to get rid of them and restore your credit, here’s what you need to know.

Here’s What You Can Do

New Federal debt collection regulations took effect on Nov. 30, 2021. The new rules will have a far-reaching impact on the debt collection industry. If you have delinquent debts or accounts in collection, these rules will affect you.

Learn more about Regulation F and what will it mean for consumers with debts.

• Don’t panic. It won’t help.
• Don’t ignore the situation. That won’t help either. They won’t go away.

That’s what you shouldn’t do, but what should you do?

Here’s where to start.

1. Know Your Rights

The Fair Debt Collection Practices Act (FDCPA) spells out the rights of debtors and the obligations of debt collectors. Here are some key points.

• A debt collector cannot call you before 8AM or after 9PM.
• A debt collector cannot call your place of employment.
• If you have a lawyer, the collector must communicate with your lawyer.
• A debt collector may not communicate with your friends or family members or tell them about your debts.
• Debt collectors cannot threaten to harm you, your reputation, or your property or use profane language.
• Debt collectors must identify themselves and the company they represent. They cannot claim to be law enforcement or other officials.
• A debt collector cannot threaten you with imprisonment or seizure of assets.

For a full review of your rights under the FDCPA see this summary from the Consumer Financial Protection Bureau (CFPB).

If you believe that a debt collector is violating the rules, you can report them to the FTC, the CFPB, and your state’s attorney general.

2. Validate and Verify the Debt

Under the new regulations that came into effect on Nov. 30, 2021, debt collectors must send you a Notice of Debt within 5 days of their first contact with you. This notice must contain much more information than the notices that collectors sent under prior rules.

If the notice is incomplete, it is invalid, and the debt isn’t collectible. That makes it important to know what’s required.

A valid Notice of Debt must contain an itemization date. This can be one of five different dates.

• The date of the last statement or invoice provided to the consumer by the creditor.
• The charge-off date.
• The date of the last payment applied to the debt.
• The date of the transaction that gave rise to the debt.
• The judgment date, if there is court judgment on the debt.

This date will help you establish whether the Statute of Limitations on the debt has expired and when it will drop off your credit report.

The Notice of Debt must also contain extensive information about the debt:

• The debt collector’s name and mailing address.
• The consumer’s full name and mailing address.
• If the debt is related to a financial product (like a loan or credit card), the notice must contain the name of the creditor to whom the debt was owed on the itemization date.
• The account number associated with the debt.
• The name of the creditor to which the debt is currently owed.
• The amount of the current debt and an itemized list of any payments made and added fees, interest, or other charges.

The Notice of Debt must contain a statement advising you of your rights under the Fair Debt Collection Practices Act (FCPA), including a statement that you have the right to dispute the debt within 30 days of receiving the letter.

The notice must also contain a returnable form allowing you to declare that you are disputing the debt and allowing you to select one of three reasons for a dispute:

• This is not my debt.
• The amount is wrong.
• Other (you will need to supply additional information.)

The CFPB has published a sample Notice of Debt that will help you determine whether the one you receive is complete.

Why It’s Important

Many debt collectors who purchased debts before the new regulations came into effect will not have the required information. They may not be able to get it from the original creditor. They may still try to bluff or intimidate you into paying them or admitting that the debt is yours.

If you receive a Notice of Debt, examine it in detail to make sure it complies with the law. If it doesn’t, inform the collector that you will not discuss the debt until you receive a Notice of Debt that complies with Regulation F.

Always Dispute the Debt

If you do not dispute the debt within 30 days, it is presumed valid. Always dispute debts held by collection companies.

If you are using a dispute or debt validation letter template, be sure that the template is designed for notices received after the implementation of Regulation F on Nov. 20, 2021. Much of the information that debtors used to ask for is now required in the Notice of Debt.

Send the debt collector a certified letter addressing these issues.

• Ask for documentation that verifies that you owe the debt, such as a copy of the original contract.
• Ask whether the statute of limitations on the debt has expired. The collector doesn’t have to tell you, but they can’t lie. If they won’t say, the statute of limitations may have expired.
• Ask whether the agency is licensed to collect debt in your state. Again, the collector is not allowed to lie. You can ask for the date of the license, the license number, and the state agency that issued the license as well.
• A copy of the last billing statement sent by the original creditor.

Send the letter to Sunrise Credit Services by certified mail.

Once you receive the debt validation letter, you have 30 days to send your debt dispute letter.

Remember that even if you know the debt is yours, the more important issue is whether they know it’s yours.

Because guess what?

If they can’t prove it’s yours, they can’t collect it or report it to the credit bureaus.

They might not be able to come up with that proof.  Remember, Sunrise Credit Services purchased your debt, in bulk with a bunch of other debt, from the original creditor.

Who knows what was lost in the shuffle?

The onus is on them to provide proof. If they can’t, they’re required by law to remove it from your credit report.

Remember the Statute of Limitations

Always check the date of the debt against the statute of limitations in your state. If the statute of limitations has expired, the collector cannot pursue legal action against you.

The statute of limitations clock begins on the date when the debt was first reported as delinquent.

Remember that making a payment or acknowledging that the debt is yours can restart the statute of limitations.

The expiry of the statute of limitations will not remove an account from your credit record. If the statute of limitations has expired or will expire soon there’s a good chance that the seven-year period of appearance on your credit record is also nearly up.

If the statute of limitations is nearly up your best bet might be to just wait it out.

3. Stop Calls from Sunrise Collection Services NOW

Before Nov. 20, 2021, you could get as many as 15 calls per day from a debt collector, according to a Consumer Credit Card Market Report.

That’s way too many.

That has changed. Regulation F places strict limits on collection calls.

• A debt collector cannot call you more than seven times within seven consecutive days.
• If a debt collector speaks to you on the phone, they must wait seven days before calling again.

Debt collectors can now contact you by email and text message as well, but you can tell them how they are permitted to contact you and when.

You can stop all communication from a debt collector.

Follow these simple steps to stop the calls.

1. Write a “stop contact” or “cease” letter telling them to stop contacting you.
2. Make a copy for yourself and mail the original to Sunrise Collection Services.
3. To prove you sent the letter, send it by certified mail with “return receipt requested.”

Make sure you follow these exact steps. 

If you do, the National Consumer Law Center states, “the collector can only acknowledge the letter and notify you about legal steps the collector may take.”

When you stop the phone calls, you get some breathing room. Remember that you still owe the debt, and the collector can take legal action.

Then you can tackle the next step.

4. Contest the Debt With the Credit Bureaus

If you believe that you do not owe the debt or that the collection agency has failed to validate the debt, you can file a dispute with the credit bureaus. You will need to dispute the account separately with each credit bureau.

Credit Reporting Bureau Mailing Addresses

You can also dispute it online:

• Equifax
• Experian
• TransUnion

The credit bureau must investigate and verify your debt. If they cannot, they must remove it from your credit record.

Remember that even if the debt is removed from your credit record, the collection agency can still pursue collection efforts.

Get Your FREE Credit Dispute Letter Template

Get our winning dispute letter, plus free tips to help you boost your credit.

Download Now!

5. Settle With A Pay For Delete Agreement

While occasionally the collection debt isn’t yours, most of the time, it is. If that’s the case, a settlement is one way to resolve the situation. 

Remember that debt collectors pay, on average, 4 cents for every dollar of debt that they buy. That gives you room to negotiate. A collector can accept less than you owe and still make a profit.

An article from U.S. News & World Report found that collection agencies will settle for between 40-60% of the balance – which could mean thousands of dollars saved.

You might offer 10% of your balance to see what they say. 

They’ll probably ask for more, but don’t let them push you around. With a little negotiation, you can reach an agreement you’re comfortable with. 

Pay for Delete

A collection agency may agree to remove your account from your credit record if you settle your debt. This is a “pay for delete” arrangement.

When you discuss a settlement, ask the collection agency representative if they will delete your record if you pay. Send a formal “pay for delete letter” to confirm the arrangement and ask for a written commitment.

Remember that you cannot compel a credit bureau to remove a legitimate account from your record. It will be recorded as paid, but it may remain on your credit report for seven years from the date when the account first became delinquent.

A pay-for-delete arrangement is a gamble. It may not work, but it’s worth trying. If they accept the settlement you will no longer have to deal with the collection agency, and that’s a big plus.

Get Your FREE Pay for Delete Letter Template

After much testing, we have put written a great pay to delete letter you can use to get started.

Download Now!

Hire A Credit Repair Company

If you don’t want to go through all the trouble of writing letters and negotiating with Sunrise Collection Services on the phone, consider hiring a credit repair company to help.

A credit repair company is equipped to deal with aggressive debt collectors to help you get the best possible outcome. 

The credit repair industry has earned a terrible reputation, and you’ll have to look out for disreputable companies and credit repair scams. There are still some companies that are legitimate and helpful.

Choosing to work with an expert sooner rather than later can save you a lot of time and money in the long run.

Get Professional Help

We analyzed 21 credit repair companies based on price, service, and results, and picked our top three choices.

Best Credit Repair Companies

Then you can sit back and relax while the credit pros do all the work.

If you’d rather do it yourself, that’s okay, too.

What If They Sue?

Collection agencies will take you to court, sometimes over quite small amounts. If a debt collector sues you, don’t ignore the case.

If you don’t respond, the judge will probably issue a summary judgment against you. You will be ordered to repay the debt. If you don’t, your wages could be garnished. In some states, your assets could be seized.

Not all companies will exercise their right to file a lawsuit against you, but a lawsuit is always a possibility when dealing with an aggressive debt collector. 

Important! Read up on what to do if you get sued by a debt collector to make sure you take all the right steps.

Free Yourself From Sunrise Collection Services

Debt collectors will not go away on their own. They will keep harassing you, and you might end up in court. Running away is not an option. 

Instead, take the initiative. Learn how to communicate with debt collectors and know your rights. You can control the process and the situation if you’re aware and proactive.

It’s not going to be a pleasant experience, but it will be a better experience if you’re in the driver’s seat!

The post How To Stop Sunrise Credit Services From Ruining Your Credit appeared first on FinMasters.

What Is MediCredit?

MediCredit is a debt collection agency.  Their sole purpose is to collect debts that creditors have failed to pay.

As the name implies, MediCredit collects debts for doctors’ offices, hospitals, and other healthcare providers. These companies use agencies like MediCredit to collect from customers who have not paid.

Here’s What You Can Do

New Federal debt collection regulations took effect on Nov. 30, 2021. The new rules will have a far-reaching impact on the debt collection industry. If you have delinquent debts or accounts in collection these rules will affect you.

Learn more about Regulation F and what will it mean for consumers with debts.

If you’re hearing from MediCredit – or any collection agency – there are things that you can (and should) do. There are also two things that you should not do:

• Don’t panic. It won’t help.
• Don’t ignore the situation. That won’t help either. They won’t go away.

That’s what you shouldn’t do, but what should you do?

Here’s where to start.

1. Know Your Rights

The Fair Debt Collection Practices Act (FDCPA) spells out your rights. Here are some key points.

• A debt collector cannot call you before 8AM or after 9PM.
• A debt collector cannot call your place of employment.
• If you have a lawyer, the collector must communicate with your lawyer.
• A debt collector may not communicate with your friends or family members or tell them about your debts.
• Debt collectors cannot threaten to harm you, your reputation, or your property, or use profane language.
• Debt collectors must identify themselves and the company they represent. They cannot claim to be law enforcement or other officials.
• A debt collector cannot threaten you with imprisonment or seizure of assets.

For a full review of your rights under the FDCPA see this summary from the Consumer Financial Protection Bureau (CFPB).

If you believe that a debt collector is violating the rules, you can report them to the FTC, the CFPB, and your state’s attorney general.

2. Validate and Verify the Debt

Under the new regulations that came into effect on Nov. 30, 2021, debt collectors must send you a Notice of Debt within 5 days of their first contact with you. This notice must contain much more information than the notices that collectors sent under prior rules.

If the notice is incomplete, it is invalid, and the debt isn’t collectible. That makes it important to know what’s required.

A valid Notice of Debt must contain an itemization date. This can be one of five different dates.

• The date of the last statement or invoice provided to the consumer by the creditor.
• The charge-off date.
• The date of the last payment applied to the debt.
• The date of the transaction that gave rise to the debt.
• The judgment date, if there is court judgment on the debt.

This date will help you establish whether the Statute of Limitations on the debt has expired and when it will drop off your credit report.

The Notice of Debt must also contain extensive information about the debt:

• The debt collector’s name and mailing address.
• The consumer’s full name and mailing address.
• If the debt is related to a financial product (like a loan or credit card), the notice must contain the name of the creditor to whom the debt was owed on the itemization date.
• The account number associated with the debt.
• The name of the creditor to which the debt is currently owed.
• The amount of the current debt and an itemized list of any payments made and added fees, interest, or other charges.

The Notice of Debt must contain a statement advising you of your rights under the Fair Debt Collection Practices Act (FCPA), including a statement that you have the right to dispute the debt within 30 days of receiving the letter.

The notice must also contain a returnable form allowing you to declare that you are disputing the debt and allowing you to select one of three reasons for a dispute:

• This is not my debt.
• The amount is wrong.
• Other (you will need to supply additional information.)

The CFPB has published a sample Notice of Debt that will help you determine whether the one you receive is complete.

Why It’s Important

Many debt collectors who purchased debts before the new regulations came into effect will not have the required information. They may not be able to get it from the original creditor. They may still try to bluff or intimidate you into paying them or admitting that the debt is yours.

If you receive a Notice of Debt, examine it in detail to make sure it complies with the law. If it doesn’t, inform the collector that you will not discuss the debt until you receive a Notice of Debt that complies with Regulation F.

Always Dispute the Debt

If you do not dispute the debt within 30 days, it is presumed valid. Always dispute debts held by collection companies.

If you are using a dispute or debt validation letter template, be sure that the template is designed for notices received after the implementation of Regulation F on Nov. 20, 2021. Much of the information that debtors used to ask for is now required in the Notice of Debt.

Send the debt collector a certified letter addressing these issues.

• Ask for documentation that verifies that you owe the debt, such as a copy of the original contract.
• Ask whether the statute of limitations on the debt has expired. The collector doesn’t have to tell you, but they can’t lie. If they won’t say, the statute of limitations may have expired.
• Ask whether the agency is licensed to collect debt in your state. Again, the collector is not allowed to lie. You can ask for the date of the license, the license number, and the state agency that issued the license as well.
• A copy of the last billing statement sent by the original creditor.

Send the letter to MediCredit by certified mail.

Once you receive the debt validation letter, you have 30 days to send your debt dispute letter.

Remember that even if you know the debt is yours, the more important issue is whether they know it’s yours.

Because guess what?

If they can’t prove it’s yours, they can’t collect it or report it to the credit bureaus.

They might not be able to come up with that proof.  Remember, MediCredit probably purchased your debt, in bulk with a bunch of other debt, from the original creditor.

Who knows what was lost in the shuffle?

The onus is on them to provide proof. If they can’t, they’re required by law to remove it from your credit report.

Remember the Statute of Limitations

Always check the date of the debt against the statute of limitations in your state. If the statute of limitations has expired, the collector cannot pursue legal action against you.

The statute of limitations clock begins on the date when the debt was first reported as delinquent.

Remember that making a payment or acknowledging that the debt is yours can restart the statute of limitations.

The expiry of the statute of limitations will not remove an account from your credit record. If the statute of limitations has expired or will expire soon, there’s a good chance that the seven-year period of appearance on your credit record is also nearly up.

If the statute of limitations is nearly up, your best bet might be to just wait it out.

3. Stop Calls from MediCredit NOW

Before Nov. 20, 2021, you could get as many as 15 calls per day from a debt collector, according to a Consumer Credit Card Market Report.

That’s way too many.

That has changed. Regulation F places strict limits on collection calls.

• A debt collector cannot call you more than seven times within seven consecutive days.
• If a debt collector speaks to you on the phone, they must wait seven days before calling again.

Debt collectors can now contact you by email and text message as well, but you can tell them how they are permitted to contact you and when.

You can stop all communication from a debt collector.

Follow these simple steps to stop the calls.

1. Write a “stop contact” or “cease” letter telling them to stop contacting you.
2. Make a copy for yourself and mail the original to MediCredit.
3. To prove you sent the letter, send it by certified mail with “return receipt requested.”

Make sure you follow these exact steps.

If you do, the National Consumer Law Center states, “the collector can only acknowledge the letter and notify you about legal steps the collector may take.”

When you stop the phone calls, you get some breathing room. Remember that you still owe the debt, and the collector can take legal action.

Then you can tackle the next step.

4. Contest the Debt With the Credit Bureaus

If you believe that you do not owe the debt or that the collection agency has failed to validate the debt, you can file a dispute with the credit bureaus. You will need to dispute the account separately with each credit bureau.

Credit Reporting Bureau Mailing Addresses

You can also dispute it online:

• Equifax
• Experian
• TransUnion

The credit bureau must investigate and verify your debt. If they cannot, they must remove it from your credit record.

Remember that even if the debt is removed from your credit record, the collection agency can still pursue collection efforts.

5. Settle With A Pay For Delete Agreement

If the collection agency verifies the debt, a settlement is one way to resolve the situation.

Remember that debt collectors pay, on average, 4 cents for every dollar of debt that they buy. That gives you room to negotiate. A collector can accept less than you owe and still make a profit.

An article from U.S. News & World Report found that collection agencies will settle for between 40-60% of the balance – which could mean thousands of dollars saved.

You might offer 10% of your balance to see what they say.

They’ll probably ask for more, but don’t let them push you around. With a little negotiation, you can reach an agreement you’re comfortable with.

Quick Note: While a “pay-for-delete” agreement removes your debt record from your credit reports, it may not erase the “charge off” your original creditor reported on you.

A collection agency may agree to remove your account from your credit record if you settle your debt. This is called a “pay for delete” arrangement.

When you discuss a settlement, ask the collection agency representative if they will delete your record if you pay. Send a formal “pay for delete letter” to confirm the arrangement and ask for a written commitment.

Get Your FREE Pay for Delete Letter Template

After much testing, we have put written a great pay to delete letter you can use to get started.

Download Now!

Get Everything in Writing

Again, get everything in writing. You want MediCredit to confirm they will not report your information to any of the 3 credit bureaus.

Be very specific in your emails with MediCredit. Leave nothing to guess.

Remember, you’re paying for total removal from your credit report.  Not just a mark that states this debt has been paid.  But an actual delete – as in, it’s gone forever.

Once you settle on an amount, you’ll need to make the payment. MediCredit will not delete anything unless the payment has been received.

After 30 days, verify your credit report and confirm the entry has been removed. If the debt is still on your report, your copies of your initial request along with receipts of the certified mail will be your best recourse. You’ll need to continue to contact MediCredit until the entry is removed.

Remember that you cannot compel a credit bureau to remove a legitimate account from your record. It will be recorded as paid, but it may remain on your credit report for seven years from the date when the account first became delinquent.

A pay-for-delete arrangement is a gamble. It may not work, but it’s worth trying. If the settlement is accepted, you will no longer have to deal with the collection agency, and that’s a big plus.

Why is MediCredit Contacting Me?

New Federal debt collection regulations took effect on Nov. 30, 2021. The new rules will have a far-reaching impact on the debt collection industry. If you have delinquent debts or accounts in collection, these rules will affect you.
Learn more about Regulation F and what will it mean for consumers with debts.

Will MediCredit Sue Me?

It is not uncommon for collections companies to file a lawsuit against you to collect the debt you owe.

If a collection company does file a lawsuit, you will need to respond to the lawsuit, or the judge may file a summary judgment against you. Read about other steps you should take in dealing with a lawsuit from a debt collector.

A judgment against you means you legally MUST pay back the money, and they could even take it directly out of your bank account.

Generally, if you are sued by a collection company, it is cheaper for you to settle than hire an attorney to defend a lawsuit you probably will lose in the long run.

However, if you truly don’t owe them money and you’ve attempted to show documented reasons why this is the case, you may need to hire an attorney to defend yourself.

You Can Get Professional Help

There may be several areas of your life you could use a little extra help. Credit repair is one of those.

If you’ve tried the steps above and haven’t had any luck, or if you don’t want to deal with MediCredit Inc. on your own, there are professionals who can help you.

The credit repair industry has earned a terrible reputation, and you’ll have to look out for disreputable companies and credit repair scams. There are still some companies that are legitimate and helpful.

Get Professional Help

We analyzed 21 credit repair companies based on price, service, and results, and picked our top three choices.

Best Credit Repair Companies

Free Yourself From MediCredit

Debt collectors will not go away on their own. They will keep harassing you, and you might end up in court. Running away is not an option.

Instead, take the initiative. Learn how to communicate with debt collectors and know your rights. You can control the process and the situation if you’re aware and proactive.

It’s not going to be a pleasant experience, but it will be a better experience if you’re in the driver’s seat!

The post 5 Easy Steps to Get MediCredit Collections Out Of Your Life appeared first on FinMasters.

What Is Credit Collection Services?

Credit Collection Services or CCS Collections is one of the largest debt collection agencies in the country.

Based in Norwood, Massachusetts, CCS employs over 700 people and earns $53 million in annual revenue.

They go by multiple names, including Credit Collection Services, CCS Offices, CCS Collection, CCS Payment, and CCS Commercial, CCS Companies, and CCS Credit Collection Services.

CCS Collections buys debt from creditors. Then they work to collect all or a portion of that debt from consumers like you.

Here’s What You Can Do

New Federal debt collection regulations took effect on Nov. 30, 2021. The new rules will have a far-reaching impact on the debt collection industry. If you have delinquent debts or accounts in collection these rules will affect you.

Learn more about Regulation F and what will it mean for consumers with debts.

If you’re hearing from Credit Collection Services – or any collection agency – there are things that you can (and should) do. There are also two things that you should not do:

• Don’t panic. It won’t help.
• Don’t ignore the situation. That won’t help either. They won’t go away.

That’s what you shouldn’t do, but what should you do?

Here’s where to start.

1. Know Your Rights

The Fair Debt Collection Practices Act (FDCPA) spells out the rights of debtors and the obligations of debt collectors. Here are some key points.

• A debt collector cannot call you before 8AM or after 9PM.
• A debt collector cannot call your place of employment.
• If you have a lawyer, the collector must communicate with your lawyer.
• A debt collector may not communicate with your friends or family members or tell them about your debts.
• Debt collectors cannot threaten to harm you, your reputation, or your property, or use profane language.
• Debt collectors must identify themselves and the company they represent. They cannot claim to be law enforcement or other officials.
• A debt collector cannot threaten you with imprisonment or seizure of assets.

For a full review of your rights under the FDCPA see this summary from the Consumer Financial Protection Bureau (CFPB).

If you believe that a debt collector is violating the rules, you can report them to the FTC, the CFPB, and your state’s attorney general.

2. Validate and Verify the Debt

Under the new regulations that came into effect on Nov. 30, 2021, debt collectors must send you a Notice of Debt within 5 days of their first contact with you. This notice must contain much more information than the notices that collectors sent under prior rules.

If the notice is incomplete, it is invalid, and the debt isn’t collectible. That makes it important to know what’s required.

A valid Notice of Debt must contain an itemization date. This can be one of five different dates.

• The date of the last statement or invoice provided to the consumer by the creditor.
• The charge-off date.
• The date of the last payment applied to the debt.
• The date of the transaction that gave rise to the debt.
• The judgment date, if there is court judgment on the debt.

This date will help you establish whether the Statute of Limitations on the debt has expired and when it will drop off your credit report.

The Notice of Debt must also contain extensive information about the debt:

• The debt collector’s name and mailing address.
• The consumer’s full name and mailing address.
• If the debt is related to a financial product (like a loan or credit card), the notice must contain the name of the creditor to whom the debt was owed on the itemization date.
• The account number associated with the debt.
• The name of the creditor to which the debt is currently owed.
• The amount of the current debt and an itemized list of any payments made and added fees, interest, or other charges.

The Notice of Debt must contain a statement advising you of your rights under the Fair Debt Collection Practices Act (FCPA), including a statement that you have the right to dispute the debt within 30 days of receiving the letter.

The notice must also contain a returnable form allowing you to declare that you are disputing the debt and allowing you to select one of three reasons for a dispute:

• This is not my debt.
• The amount is wrong.
• Other (you will need to supply additional information.)

The CFPB has published a sample Notice of Debt that will help you determine whether the one you receive is complete.

Why It’s Important

Many debt collectors who purchased debts before the new regulations came into effect will not have the required information. They may not be able to get it from the original creditor. They may still try to bluff or intimidate you into paying them or admitting that the debt is yours.

If you receive a Notice of Debt, examine it in detail to make sure it complies with the law. If it doesn’t, inform the collector that you will not discuss the debt until you receive a Notice of Debt that complies with Regulation F.

Always Dispute the Debt

If you do not dispute the debt within 30 days, it is presumed valid. Always dispute debts held by collection companies.

If you are using a dispute or debt validation letter template, be sure that the template is designed for notices received after the implementation of Regulation F on Nov. 20, 2021. Much of the information that debtors used to ask for is now required in the Notice of Debt.

Send the debt collector a certified letter addressing these issues.

• Ask for documentation that verifies that you owe the debt, such as a copy of the original contract.
• Ask whether the statute of limitations on the debt has expired. The collector doesn’t have to tell you, but they can’t lie. If they won’t say, the statute of limitations may have expired.
• Ask whether the agency is licensed to collect debt in your state. Again, the collector is not allowed to lie. You can ask for the date of the license, license number, and the state agancy that issued the license as well.
• A copy of the last billing statement sent by the original creditor.

Send the letter to Credit Collection Services by certified mail.

Once you receive the debt validation letter you have 30 days to send your debt dispute letter.

Remember that even if you know the debt is yours, the more important issue is whether they know it’s yours.

Because guess what?

If they can’t prove it’s yours, they can’t collect it or report it to the credit bureaus.

They might not be able to come up with that proof.  Remember, Credit Collection Services purchased your debt, in bulk with a bunch of other debt, from the original creditor.

Who knows what was lost in the shuffle?

The onus is on them to provide proof. If they can’t, they’re required by law to remove it from your credit report.

Remember the Statute of Limitations

Always check the date of the debt against the statute of limitations in your state. If the statute of limitations has expired, the collector cannot pursue legal action against you.

The statute of limitations clock begins on the date when the debt was first reported as delinquent.

Remember that making a payment or acknowledging that the debt is yours can restart the statute of limitations.

The expiry of the statute of limitations will not remove an account from your credit record. If the statute of limitations has expired or will expire soon there’s a good chance that the seven-year period of appearance on your credit record is also nearly up.

If the statute of limitations is nearly up your best bet might be to just wait it out.

3. Stop Calls from Credit Collection Services NOW

Before Nov. 20, 2021, you could get as many as 15 calls per day from a debt collector, according to a Consumer Credit Card Market Report.

That’s way too many.

That has changed. Regulation F places strict limits on collection calls.

• A debt collector cannot call you more than seven times within seven consecutive days.
• If a debt collector speaks to you on the phone they must wait seven days before calling again.

Debt collectors can now contact you by email and text message as well, but you can tell them how they are permitted to contact you and when.

You can stop all communication from a debt collector.

Follow these simple steps to stop the calls.

1. Write a “stop contact” or “cease” letter telling them to stop contacting you.
2. Make a copy for yourself and mail the original to Credit Collection Services.
3. To prove you sent the letter, send it by certified mail with “return receipt requested.”

Make sure you follow these exact steps.

If you do, the National Consumer Law Center states, “the collector can only acknowledge the letter and notify you about legal steps the collector may take.”

When you stop the phone calls, you get some breathing room. Remember that you still owe the debt, and the collector can take legal action.

Then you can tackle the next step.

4. Contest the Debt With the Credit Bureaus

If you believe that you do not owe the debt or that the collection agency has failed to validate the debt, you can file a dispute with the credit bureaus. You will need to dispute the account separately with each credit bureau.

Credit Reporting Bureau Mailing Addresses

You can also dispute it online:

• Equifax
• Experian
• TransUnion

The credit bureau must investigate and verify your debt. If they cannot, they must remove it from your credit record.

Remember that even if the debt is removed from your credit record, the collection agency can still pursue collection efforts.

Get Your FREE Credit Dispute Letter Template

Get our winning dispute letter, plus free tips to help you boost your credit.

Download Now!

5. Settle With a Pay For Delete Agreement

While occasionally the collection debt isn’t yours, most of the time, it is. If that’s the case, a settlement is one way to resolve the situation.

Remember that debt collectors pay, on average, 4 cents for every dollar of debt that they buy. That gives you room to negotiate. A collector can accept less than you owe and still make a profit.

An article from U.S. News & World Report found that collection agencies will settle for between 40-60% of the balance – which could mean thousands of dollars saved.

You might offer 10% of your balance to see what they say.

They’ll probably ask for more, but don’t let them push you around. With a little negotiation, you can reach an agreement you’re comfortable with.

Pay for Delete

A collection agency may agree to remove your account from your credit record if you settle your debt. This is a “pay for delete” arrangement.

When you discuss a settlement, ask the collection agency representative if they will delete your record if you pay. Send a formal “pay for delete letter” to confirm the arrangement and ask for a written commitment.

Remember that you cannot compel a credit bureau to remove a legitimate account from your record. It will be recorded as paid, but it may remain on your credit report for seven years from the date when the account first became delinquent.

A pay-for-delete arrangement is a gamble. It may not work, but it’s worth trying. If they accept the settlement you will no longer have to deal with the collection agency, and that’s a big plus.

Get Your FREE Pay for Delete Letter Template

After much testing, we have put written a great pay to delete letter you can use to get started.

Download Now!

Hire a Credit Repair Company

If you don’t want to go through all the trouble of writing letters and negotiating with CCS on the phone, consider hiring a credit repair company to help.

A credit repair company is equipped to deal with aggressive debt collectors to help you get the best possible outcome.

The credit repair industry has earned a terrible reputation, and you’ll have to look out for disreputable companies and credit repair scams. There are still some companies that are legitimate and helpful.

Choosing to work with an expert sooner rather than later can save you a lot of time and money in the long run.

Get Professional Help

We analyzed 21 credit repair companies based on price, service, and results, and picked our top three choices.

Best Credit Repair Companies

Then you can sit back and relax while the credit pros do all the work.

If you’d rather do it yourself, that’s okay, too.

What If They Sue?

Collection agencies will take you to court, sometimes over quite small amounts. If a debt collector sues you, don’t ignore the case.

If you don’t respond, the judge will probably issue a summary judgment against you. You will be ordered to repay the debt. If you don’t, your wages could be garnished. In some states, your assets could be seized.

Not all companies will exercise their right to file a lawsuit against you, but a lawsuit is always a possibility when dealing with an aggressive debt collector.

Important! Read up on what to do if you get sued by a debt collector to make sure you take all the right steps.

Get Rid of Credit Collection Services for Good

Hopefully, you found these suggestions for getting CCS out of your life and off of your credit report helpful.

If a collection agency is contacting you about debt, keep one thing in mind: Don’t bury your head in the sand. You have options.

The post How to Get Credit Collection Services (CCS) Off Your Credit Report appeared first on FinMasters.

Who Is National Credit Systems and Are They Legit?

National Credit Systems, Inc. is a collection agency headquartered in Atlanta, Georgia. The company specializes in recovering money owed to apartment owners and managers.

It’s a legit company that’s been in business since 1991.

They’re one of the biggest debt collectors serving apartment owners and managers. The company claims to have collected more debt than any other company in the U.S.

Get Professional Help

We analyzed 21 credit repair companies based on price, service, and results, and picked our top three choices.

Best Credit Repair Companies

How to Deal With NCS

New Federal debt collection regulations took effect on Nov. 30, 2021. The new rules will have a far-reaching impact on the debt collection industry. If you have delinquent debts or accounts in collection these rules will affect you.

Learn more about Regulation F and what will it mean for consumers with debts.

If you’re hearing from National Credit Systems – or any collection agency – there are things that you can (and should) do. There are also two things that you should not do:

• Don’t Panic. It won’t help.
• Don’t ignore the situation. That won’t help either. They won’t go away.

That’s what you shouldn’t do, but what should you do?

Here’s where to start.

NOTE: These are DIY steps.
If you get lost along the way or don’t have time to work on this by yourself, you can get help from Credit Saint, our #1 recommended credit repair company.

1. Know Your Rights

The rights of debtors and the obligations of debt collectors are spelled out in the Fair Debt Collection Practices Act (FDCPA). Here are some key points.

• A debt collector cannot call you before 8AM or after 9PM.
• A debt collector cannot call your place of employment.
• If you have a lawyer, the collector must communicate with your lawyer.
• A debt collector may not communicate with your friends or family members or tell them about your debts.
• Debt collectors cannot threaten to harm you, your reputation, or your property, or use profane language.
• Debt collectors must identify themselves and the company they represent. They cannot claim to be law enforcement or other officials.
• A debt collector cannot threaten you with imprisonment or seizure of assets.

For a full review of your rights under the FDCPA see this summary from the Consumer Financial Protection Bureau (CFPB).

If you believe that a debt collector is violating the rules, you can report them to the FTC, the CFPB, and your state’s attorney general.

2. Validate and Verify the Debt

Under the new regulations that came into effect on Nov. 30, 2021, debt collectors must send you a Notice of Debt within 5 days of their first contact with you. This notice must contain much more information than the notices that collectors sent under prior rules.

If the notice is incomplete, it is invalid, and the debt isn’t collectible. That makes it important to know what’s required.

A valid Notice of Debt must contain an itemization date. This can be one of five different dates.

• The date of the last statement or invoice provided to the consumer by the creditor.
• The charge-off date.
• The date of the last payment applied to the debt.
• The date of the transaction that gave rise to the debt.
• The judgment date, if there is court judgment on the debt.

This date will help you establish whether the Statute of Limitations on the debt has expired and when it will drop off your credit report.

The Notice of Debt must also contain extensive information about the debt:

• The debt collector’s name and mailing address.
• The consumer’s full name and mailing address.
• If the debt is related to a financial product (like a loan or credit card), the notice must contain the name of the creditor to whom the debt was owed on the itemization date.
• The account number associated with the debt.
• The name of the creditor to which the debt is currently owed.
• The amount of the current debt and an itemized list of any payments made and added fees, interest, or other charges.

The Notice of Debt must contain a statement advising you of your rights under the Fair Debt Collection Practices Act (FCPA), including a statement that you have the right to dispute the debt within 30 days of receiving the letter.

The notice must also contain a returnable form allowing you to declare that you are disputing the debt and allowing you to select one of three reasons for a dispute:

• This is not my debt.
• The amount is wrong.
• Other (you will need to supply additional information.)

The CFPB has published a sample Notice of Debt that will help you determine whether the one you receive is complete.

Why It’s Important

Many debt collectors who purchased debts before the new regulations came into effect will not have the required information. They may not be able to get it from the original creditor. They may still try to bluff or intimidate you into paying them or admitting that the debt is yours.

If you receive a Notice of Debt, examine it in detail to make sure it complies with the law. If it doesn’t, inform the collector that you will not discuss the debt until you receive a Notice of Debt that complies with Regulation F.

Always Dispute the Debt

If you do not dispute the debt within 30 days, it is presumed valid. Always dispute debts held by collection companies.

If you are using a dispute or debt validation letter template, be sure that the template is designed for notices received after the implementation of Regulation F on Nov. 20, 2021. Much of the information that debtors used to ask for is now required in the Notice of Debt.

Send the debt collector a certified letter addressing these issues.

• Ask for documentation that verifies that you owe the debt, such as a copy of the original contract.
• Ask whether the statute of limitations on the debt has expired. The collector doesn’t have to tell you, but they can’t lie. If they won’t say, the statute of limitations may have expired.
• Ask whether the agency is licensed to collect debt in your state. Again, the collector is not allowed to lie. You can ask for the date of the license, license number, and the state agancy that issued the license as well.
• A copy of the last billing statement sent by the original creditor.

Send the letter to National Credit Systems by certified mail.

Once you receive the debt validation letter you have 30 days to send your debt dispute letter.

Remember that even if you know the debt is yours, the more important issue is whether they know it’s yours.

Because guess what?

If they can’t prove it’s yours, they can’t collect it or report it to the credit bureaus.

They might not be able to come up with that proof.  Remember, National Credit Systems purchased your debt, in bulk with a bunch of other debt, from the original creditor.

Who knows what was lost in the shuffle?

The onus is on them to provide proof. If they can’t, they’re required by law to remove it from your credit report.

Remember the Statute of Limitations

Always check the date of the debt against the statute of limitations in your state. If the statute of limitations has expired, the collector cannot pursue legal action against you.

The statute of limitations clock begins on the date when the debt was first reported as delinquent.

Remember that making a payment or acknowledging that the debt is yours can restart the statute of limitations.

The expiry of the statute of limitations will not remove an account from your credit record. If the statute of limitations has expired or will expire soon there’s a good chance that the seven-year period of appearance on your credit record is also nearly up.

If the statute of limitations is nearly up your best bet might be to just wait it out.

3. Stop Calls from National Credit Systems NOW

Before Nov. 20, 2021, you could get as many as 15 calls per day from a debt collector, according to a Consumer Credit Card Market Report.

That’s way too many.

That has changed. Regulation F places strict limits on collection calls.

• A debt collector cannot call you more than seven times within seven consecutive days.
• If a debt collector speaks to you on the phone they must wait seven days before calling again.

Debt collectors can now contact you by email and text message as well, but you can tell them how they are permitted to contact you and when.

You can stop all communication from a debt collector.

Follow these simple steps to stop the calls.

1. Write a “stop contact” or “cease” letter telling them to stop contacting you.
2. Make a copy for yourself and mail the original to National Credit Systems.
3. To prove you sent the letter, send it by certified mail with “return receipt requested.”

Make sure you follow these exact steps.

If you do, the National Consumer Law Center states, “the collector can only acknowledge the letter and notify you about legal steps the collector may take.”

When you stop the phone calls, you get some breathing room. Remember that you still owe the debt, and the collector can take legal action.

Then you can tackle the next step.

Pro tip: Send the letter by certified mail with “return receipt requested” so you have proof the company received it.

4. Contest the Debt With the Credit Bureaus

If you believe that you do not owe the debt or that the collection agency has failed to validate the debt, you can file a dispute with the credit bureaus. You will need to dispute the account separately with each credit bureau.

Credit Reporting Bureau Mailing Addresses

You can also dispute it online:

• Equifax
• Experian
• TransUnion

The credit bureau must investigate and verify your debt. If they cannot, they must remove it from your credit record.

Remember that even if the debt is removed from your credit record, the collection agency can still pursue collection efforts.

Get Your FREE Credit Dispute Letter Template

Get our winning dispute letter, plus free tips to help you boost your credit.

Download Now!

5. Settle With a Pay For Delete Agreement

While occasionally the collection debt isn’t yours, most of the time, it is. If that’s the case, a settlement is one way to resolve the situation.

Remember that debt collectors pay, on average, 4 cents for every dollar of debt that they buy. That gives you room to negotiate. A collector can accept less than you owe and still make a profit.

An article from U.S. News & World Report found that collection agencies will settle for between 40-60% of the balance – which could mean thousands of dollars saved.

You might offer 10% of your balance to see what they say.

They’ll probably ask for more, but don’t let them push you around. With a little negotiation, you can reach an agreement you’re comfortable with.

Pay for Delete

A collection agency may agree to remove your account from your credit record if you settle your debt. This is a “pay for delete” arrangement.

When you discuss a settlement, ask the collection agency representative if they will delete your record if you pay. Send a formal “pay for delete letter” to confirm the arrangement and ask for a written commitment.

Remember that you cannot compel a credit bureau to remove a legitimate account from your record. It will be recorded as paid, but it may remain on your credit report for seven years from the date when the account first became delinquent.

A pay-for-delete arrangement is a gamble. It may not work, but it’s worth trying. If they accept the settlement you will no longer have to deal with the collection agency, and that’s a big plus.

Get Your FREE Pay for Delete Letter Template

After much testing, we have put written a great pay to delete letter you can use to get started.

Download Now!

Pro tip: They will probably tell you they don’t offer pay for delete agreements or settle for less than you owe, but they do. This is the biggest reason you should only communicate in writing using certified mail – you have proof.

Unfair Practices from National Credit Systems Inc

A word of caution before we dive into the best way to remove the collection account from your credit report:

NCS won’t make it easy.

Several complaints have been filed by people trying to negotiate with them. The company was even sued in 2017 for unfair debt collection practices!

The court document states the collection letter they sent to consumers was “false, misleading and confusing to the unsophisticated consumer.”

That directly violates your rights under the Fair Debt Collection Practices Act (FDCPA).

Plus, the debt was time-barred. That means the debt was so old that the statute of limitations kicked in and said the borrower could no longer be sued.

National Credit Systems Inc is more challenging to deal with than the average debt collector.

What If They Sue?

Yes, it could happen. Debt collectors routinely file lawsuits against debtors, even for relatively small amounts.

If a debt collector sues you, do not ignore the lawsuit. Respond and follow all court instructions. Remember that you cannot go to jail for owing money, but you can be jailed for ignoring a court order, or even for failure to appear in some cases.

Be sure to read or guide to what to do if you’re sued by a debt collector.

You’re Not Alone

No one likes to see a collections account on their credit report.

You might think paying off the debt is the easiest way to get rid of it.

Unfortunately, that isn’t always the case.

Paid collection accounts can still show up on your credit report. Since the goal is to remove National Credit Systems from your credit report, you need to take a few extra steps.

But it’s possible.

So take a deep breath and remember that you’re not a slave to your debt.

The post How To Get National Credit Systems Off Your Credit Report appeared first on FinMasters.

If you have Portfolio Recovery on the phone or on your credit report, one of your debts has been sent to collections. This is a situation you need to deal with: they won’t just go away. Here’s how you can resolve the account and put your credit back in order.

What is Portfolio Recovery Associates LLC?

You breathed a cautious sigh of relief, hoping they finally gave up on you.

Well, they sort of did.

Unfortunately, that doesn’t mean you’re off the hook. If a creditor isn’t getting anywhere with trying to collect a debt, they eventually “charge it off”.

And what does that mean?

It means they sell the debt to a collection agency. They get some money for their trouble, and the collection agency becomes responsible for getting payment.

That’s what Portfolio Recovery or Portfolio Recovery Associates LLC is: they are a collections agency.

They’ve paid money to buy your debt, and you better believe they’ll try their hardest to make you pay so they can turn a profit.

Portfolio Recovery often buys debt from Capital One, Comenity Bank, and others.

Here’s What You Can Do

New Federal debt collection regulations took effect on Nov. 30, 2021. The new rules will have a far-reaching impact on the debt collection industry. If you have delinquent debts or accounts in collection, these rules will affect you.

Learn more about Regulation F and what will it mean for consumers with debts.

If you’re hearing from Portfolio Recovery – or any collection agency – there are things that you can (and should) do. There are also two things that you should not do:

• Don’t panic. It won’t help.
• Don’t ignore the situation. That won’t help, either. They won’t go away.

That’s what you shouldn’t do, but what should you do?

Here’s where to start.

1. Know Your Rights

The Fair Debt Collection Practices Act (FDCPA) spells out the rights of debtors and the obligations of debt collectors. Here are some key points.

• A debt collector cannot call you before 8AM or after 9PM.
• A debt collector cannot call your place of employment.
• If you have a lawyer, the collector must communicate with your lawyer.
• A debt collector may not communicate with your friends or family members or tell them about your debts.
• Debt collectors cannot threaten to harm you, your reputation, or your property or use profane language.
• Debt collectors must identify themselves and the company they represent. They cannot claim to be law enforcement or other officials.
• A debt collector cannot threaten you with imprisonment or seizure of assets.

For a full review of your rights under the FDCPA, see this summary from the Consumer Financial Protection Bureau (CFPB).

If you believe that a debt collector is violating the rules, you can report them to the FTC, the CFPB, and your state’s attorney general.

2. Validate and Verify the Debt

Under the new regulations that came into effect on Nov. 30, 2021, debt collectors must send you a Notice of Debt within 5 days of their first contact with you. This notice must contain much more information than the notices that collectors sent under prior rules.

If the notice is incomplete, it is invalid, and the debt isn’t collectible. That makes it important to know what’s required.

A valid Notice of Debt must contain an itemization date. This can be one of five different dates.

• The date of the last statement or invoice provided to the consumer by the creditor.
• The charge-off date.
• The date of the last payment applied to the debt.
• The date of the transaction that gave rise to the debt.
• The judgment date, if there is court judgment on the debt.

This date will help you establish whether the Statute of Limitations on the debt has expired and when it will drop off your credit report.

The Notice of Debt must also contain extensive information about the debt:

• The debt collector’s name and mailing address.
• The consumer’s full name and mailing address.
• If the debt is related to a financial product (like a loan or credit card), the notice must contain the name of the creditor to whom the debt was owed on the itemization date.
• The account number associated with the debt.
• The name of the creditor to which the debt is currently owed.
• The amount of the current debt and an itemized list of any payments made and added fees, interest, or other charges.

The Notice of Debt must contain a statement advising you of your rights under the Fair Debt Collection Practices Act (FCPA), including a statement that you have the right to dispute the debt within 30 days of receiving the letter.

The notice must also contain a returnable form allowing you to declare that you are disputing the debt and allowing you to select one of three reasons for a dispute:

• This is not my debt.
• The amount is wrong.
• Other (you will need to supply additional information.)

The CFPB has published a sample Notice of Debt that will help you determine whether the one you receive is complete.

Why It’s Important

Many debt collectors who purchased debts before the new regulations came into effect will not have the required information. They may not be able to get it from the original creditor. They may still try to bluff or intimidate you into paying them or admitting that the debt is yours.

If you receive a Notice of Debt, examine it in detail to make sure it complies with the law. If it doesn’t, inform the collector that you will not discuss the debt until you receive a Notice of Debt that complies with Regulation F.

Always Dispute the Debt

If you do not dispute the debt within 30 days, it is presumed valid. Always dispute debts held by collection companies.

If you are using a dispute or debt validation letter template, be sure that the template is designed for notices received after the implementation of Regulation F on Nov. 20, 2021. Much of the information that debtors used to ask for is now required in the Notice of Debt.

Send the debt collector a certified letter addressing these issues.

• Ask for documentation that verifies that you owe the debt, such as a copy of the original contract.
• Ask whether the statute of limitations on the debt has expired. The collector doesn’t have to tell you, but they can’t lie. If they won’t say, the statute of limitations may have expired.
• Ask whether the agency is licensed to collect debt in your state. Again, the collector is not allowed to lie. You can ask for the date of the license, the license number, and the state agency that issued the license as well.
• A copy of the last billing statement sent by the original creditor.

Send the letter to Portfolio Recovery by certified mail.

Once you receive the debt validation letter, you have 30 days to send your debt dispute letter.

Remember that even if you know the debt is yours, the more important issue is whether they know it’s yours.

Because guess what?

If they can’t prove it’s yours, they can’t collect it or report it to the credit bureaus.

They might not be able to come up with that proof.  Remember, Portfolio Recovery purchased your debt, in bulk, with a bunch of other debt, from the original creditor.

Who knows what was lost in the shuffle?

The onus is on them to provide proof. If they can’t, they’re required by law to remove it from your credit report.

Remember the Statute of Limitations

Always check the date of the debt against the statute of limitations in your state. If the statute of limitations has expired, the collector cannot pursue legal action against you.

The statute of limitations clock begins on the date when the debt was first reported as delinquent.

Remember that making a payment or acknowledging that the debt is yours can restart the statute of limitations.

The expiry of the statute of limitations will not remove an account from your credit record. If the statute of limitations has expired or will expire soon, there’s a good chance that the seven-year period of appearance on your credit record is also nearly up.

If the statute of limitations is nearly up, your best bet might be to just wait it out.

3. Stop Calls from Portfolio Recovery NOW

Before Nov. 20, 2021, you could get as many as 15 calls per day from a debt collector, according to a Consumer Credit Card Market Report.

That’s way too many.

That has changed. Regulation F places strict limits on collection calls.

• A debt collector cannot call you more than seven times within seven consecutive days.
• If a debt collector speaks to you on the phone, they must wait seven days before calling again.

Debt collectors can now contact you by email and text message as well, but you can tell them how they are permitted to contact you and when.

You can stop all communication from a debt collector.

Follow these simple steps to stop the calls.

1. Write a “stop contact” or “cease” letter telling them to stop contacting you.
2. Make a copy for yourself and mail the original to Portfolio Recovery.
3. To prove you sent the letter, send it by certified mail with “return receipt requested.”

Make sure you follow these exact steps.

If you do, the National Consumer Law Center states, “the collector can only acknowledge the letter and notify you about legal steps the collector may take.”

When you stop the phone calls, you get some breathing room. Remember that you still owe the debt, and the collector can take legal action.

Then you can tackle the next step.

4. Contest the Debt With the Credit Bureaus

If you believe that you do not owe the debt or that the collection agency has failed to validate the debt, you can file a dispute with the credit bureaus. You will need to dispute the account separately with each credit bureau.

Credit Reporting Bureau Mailing Addresses

You can also dispute it online:

• Equifax
• Experian
• TransUnion

The credit bureau must investigate and verify your debt. If they cannot, they must remove it from your credit record.

Remember that even if the debt is removed from your credit record, the collection agency can still pursue collection efforts.

Get Your FREE Credit Dispute Letter Template

Get our winning dispute letter, plus free tips to help you boost your credit.

Download Now!

5. Settle With A Pay For Delete Agreement

While occasionally, the collection debt isn’t yours, most of the time, it is. If that’s the case, a settlement is one way to resolve the situation.

Remember that debt collectors pay, on average, 4 cents for every dollar of debt that they buy. That gives you room to negotiate. A collector can accept less than you owe and still make a profit.

An article from U.S. News & World Report found that collection agencies will settle for between 40-60% of the balance – which could mean thousands of dollars saved.

You might offer 10% of your balance to see what they say.

They’ll probably ask for more, but don’t let them push you around. With a little negotiation, you can reach an agreement you’re comfortable with.

Pay for Delete

A collection agency may agree to remove your account from your credit record if you settle your debt. This is a “pay for delete” arrangement.

When you discuss a settlement, ask the collection agency representative if they will delete your record if you pay. Send a formal “pay for delete letter” to confirm the arrangement and ask for a written commitment.

Remember that you cannot compel a credit bureau to remove a legitimate account from your record. It will be recorded as paid, but it may remain on your credit report for seven years from the date when the account first became delinquent.

A pay-for-delete arrangement is a gamble. It may not work, but it’s worth trying. If they accept the settlement you will no longer have to deal with the collection agency, and that’s a big plus.

Get Your FREE Pay for Delete Letter Template

After much testing, we have put written a great pay to delete letter you can use to get started.

Download Now!

Hire A Credit Repair Company

If you don’t want to go through all the trouble of writing letters and negotiating with Portfolio Recovery on the phone, consider hiring a credit repair company to help.

A credit repair company is equipped to deal with aggressive debt collectors to help you get the best possible outcome.

The credit repair industry has earned a terrible reputation, and you’ll have to look out for disreputable companies and credit repair scams. There are still some companies that are legitimate and helpful.

Choosing to work with an expert sooner rather than later can save you a lot of time and money in the long run.

Get Professional Help

We analyzed 21 credit repair companies based on price, service, and results and picked our top three choices.

Best Credit Repair Companies

Then you can sit back and relax while the credit pros do all the work.

If you’d rather do it yourself, that’s okay, too.

What If They Sue?

Collection agencies will take you to court, sometimes over quite small amounts. If a debt collector sues you, don’t ignore the case.

If you don’t respond, the judge will probably issue a summary judgment against you. You will be ordered to repay the debt. If you don’t, your wages could be garnished. In some states, your assets could be seized.

Not all companies will exercise their right to file a lawsuit against you, but a lawsuit is always a possibility when dealing with an aggressive debt collector.

Important! Read up on what to do if you get sued by a debt collector to make sure you take all the right steps.

Free Yourself From Portfolio Recovery

Debt collectors will not go away on their own. They will keep harassing you, and you might end up in court. Running away is not an option.

Instead, take the initiative. Learn how to communicate with debt collectors and know your rights. You can control the process and the situation if you’re aware and proactive.

It’s not going to be a pleasant experience, but it will be a better experience if you’re in the driver’s seat!

The post How to Delete Portfolio Recovery From Your Life appeared first on FinMasters.

Who is Jefferson Capital Systems LLC?

Jefferson Capital Systems, LLC., is based in Minnesota. They’re one of the largest third-party collectors in the US.

Jefferson has been accredited by the Better Business Bureau since 2005 and has a B rating from the BBB.

You’ve never heard of them?

I’m not surprised. Because they specialize in third-party debts, they buy past-due accounts from other businesses.

If you have an account in collections, you have two challenges.

• You have to resolve the account. A collection agency will harass you and could even sue you as long as the debt is not resolved.
• You have to address the damage to your credit. Collection accounts are a serious drag on your credit score.

These two challenges are related, but they are not the same thing. One involves dealing with the collection agency, the other involves dealing with the three major credit bureaus: Experian, Equifax, and TransUnion.

Who Does Jefferson Capital Systems Collect For?

Collection agencies like Jefferson Capital Systems rarely disclose who they are collecting for. If you see Jefferson Capital Systems on your credit report, they might have acquired your debt from any financial institution, healthcare provider, educational organization, any type of business, or government organization.

Jefferson Capital Systems Reviews And Complaints

Reviews of Jefferson Capital Systems are overwhelmingly negative which is not unusual for a debt collection company. They have a 1.31/5 rating on their BBB page and a 1.6/5 rating on Google reviews.

At the time of this writing, they had over 1100 customer complaints filed on BBB alone. No complaints were unresolved or unanswered. Most complaints are from people that were unaware that their debt was sold to a collection agency or that had problems verifying their debt.

Here’s What You Can Do

New Federal debt collection regulations took effect on Nov. 30, 2021. The new rules will have a far-reaching impact on the debt collection industry. If you have delinquent debts or accounts in collection these rules will affect you.

Learn more about Regulation F and what will it mean for consumers with debts.

If you’re hearing from Jefferson Capital Systems – or any collection agency – there are things that you can (and should) do. There are also two things that you should not do:

• Don’t panic. It won’t help.
• Don’t ignore the situation. That won’t help either. They won’t go away.

That’s what you shouldn’t do, but what should you do?

Here’s where to start.

1. Know Your Rights

The Fair Debt Collection Practices Act (FDCPA) spells out the rights of debtors and the obligations of debt collectors. Here are some key points.

• A debt collector cannot call you before 8AM or after 9PM.
• A debt collector cannot call your place of employment.
• If you have a lawyer, the collector must communicate with your lawyer.
• A debt collector may not communicate with your friends or family members or tell them about your debts.
• Debt collectors cannot threaten to harm you, your reputation, or your property, or use profane language.
• Debt collectors must identify themselves and the company they represent. They cannot claim to be law enforcement or other officials.
• A debt collector cannot threaten you with imprisonment or seizure of assets.

For a full review of your rights under the FDCPA see this summary from the Consumer Financial Protection Bureau (CFPB).

If you believe that a debt collector is violating the rules, you can report them to the FTC, the CFPB, and your state’s attorney general.

2. Validate and Verify the Debt

Under the new regulations that came into effect on Nov. 30, 2021, debt collectors must send you a Notice of Debt within 5 days of their first contact with you. This notice must contain much more information than the notices that collectors sent under prior rules.

If the notice is incomplete, it is invalid, and the debt isn’t collectible. That makes it important to know what’s required.

A valid Notice of Debt must contain an itemization date. This can be one of five different dates.

• The date of the last statement or invoice provided to the consumer by the creditor.
• The charge-off date.
• The date of the last payment applied to the debt.
• The date of the transaction that gave rise to the debt.
• The judgment date, if there is court judgment on the debt.

This date will help you establish whether the Statute of Limitations on the debt has expired and when it will drop off your credit report.

The Notice of Debt must also contain extensive information about the debt:

• The debt collector’s name and mailing address.
• The consumer’s full name and mailing address.
• If the debt is related to a financial product (like a loan or credit card), the notice must contain the name of the creditor to whom the debt was owed on the itemization date.
• The account number associated with the debt.
• The name of the creditor to which the debt is currently owed.
• The amount of the current debt and an itemized list of any payments made and added fees, interest, or other charges.

The Notice of Debt must contain a statement advising you of your rights under the Fair Debt Collection Practices Act (FCPA), including a statement that you have the right to dispute the debt within 30 days of receiving the letter.

The notice must also contain a returnable form allowing you to declare that you are disputing the debt and allowing you to select one of three reasons for a dispute:

• This is not my debt.
• The amount is wrong.
• Other (you will need to supply additional information.)

The CFPB has published a sample Notice of Debt that will help you determine whether the one you receive is complete.

Why It’s Important

Many debt collectors who purchased debts before the new regulations came into effect will not have the required information. They may not be able to get it from the original creditor. They may still try to bluff or intimidate you into paying them or admitting that the debt is yours.

If you receive a Notice of Debt, examine it in detail to make sure it complies with the law. If it doesn’t, inform the collector that you will not discuss the debt until you receive a Notice of Debt that complies with Regulation F.

Always Dispute the Debt

If you do not dispute the debt within 30 days, it is presumed valid. Always dispute debts held by collection companies.

If you are using a dispute or debt validation letter template, be sure that the template is designed for notices received after the implementation of Regulation F on Nov. 20, 2021. Much of the information that debtors used to ask for is now required in the Notice of Debt.

Send the debt collector a certified letter addressing these issues.

• Ask for documentation that verifies that you owe the debt, such as a copy of the original contract.
• Ask whether the statute of limitations on the debt has expired. The collector doesn’t have to tell you, but they can’t lie. If they won’t say, the statute of limitations may have expired.
• Ask whether the agency is licensed to collect debt in your state. Again, the collector is not allowed to lie. You can ask for the date of the license, the license number, and the state agency that issued the license as well.
• A copy of the last billing statement sent by the original creditor.

Send the letter to Jefferson Capital Systems by certified mail.

Once you receive the debt validation letter, you have 30 days to send your debt dispute letter.

Remember that even if you know the debt is yours, the more important issue is whether they know it’s yours.

Because guess what?

If they can’t prove it’s yours, they can’t collect it or report it to the credit bureaus.

They might not be able to come up with that proof.  Remember, Jefferson Capital Systems purchased your debt, in bulk with a bunch of other debt, from the original creditor.

Who knows what was lost in the shuffle?

The onus is on them to provide proof. If they can’t, they’re required by law to remove it from your credit report.

Remember the Statute of Limitations

Always check the date of the debt against the statute of limitations in your state. If the statute of limitations has expired, the collector cannot pursue legal action against you.

The statute of limitations clock begins on the date when the debt was first reported as delinquent.

Remember that making a payment or acknowledging that the debt is yours can restart the statute of limitations.

The expiry of the statute of limitations will not remove an account from your credit record. If the statute of limitations has expired or will expire soon, there’s a good chance that the seven-year period of appearance on your credit record is also nearly up.

If the statute of limitations is nearly up, your best bet might be to just wait it out.

3. Stop Calls from Jefferson Capital Systems NOW

Before Nov. 20, 2021, you could get as many as 15 calls per day from a debt collector, according to a Consumer Credit Card Market Report.

That’s way too many.

That has changed. Regulation F places strict limits on collection calls.

• A debt collector cannot call you more than seven times within seven consecutive days.
• If a debt collector speaks to you on the phone, they must wait seven days before calling again.

Debt collectors can now contact you by email and text message as well, but you can tell them how they are permitted to contact you and when.

You can stop all communication from a debt collector.

Follow these simple steps to stop the calls.

1. Write a “stop contact” or “cease” letter telling them to stop contacting you.
2. Make a copy for yourself and mail the original to Jefferson Capital Systems.
3. To prove you sent the letter, send it by certified mail with “return receipt requested.”

Make sure you follow these exact steps.

If you do, the National Consumer Law Center states, “the collector can only acknowledge the letter and notify you about legal steps the collector may take.”

When you stop the phone calls, you get some breathing room. Remember that you still owe the debt, and the collector can take legal action.

Then you can tackle the next step.

4. Contest the Debt With the Credit Bureaus

If you believe that you do not owe the debt or that the collection agency has failed to validate the debt, you can file a dispute with the credit bureaus. You will need to dispute the account separately with each credit bureau.

Credit Reporting Bureau Mailing Addresses

You can also dispute it online:

• Equifax
• Experian
• TransUnion

The credit bureau must investigate and verify your debt. If they cannot, they must remove it from your credit record.

Remember that even if the debt is removed from your credit record, the collection agency can still pursue collection efforts.

Get Your FREE Credit Dispute Letter Template

Get our winning dispute letter, plus free tips to help you boost your credit.

Download Now!

5. Settle With A Pay For Delete Agreement

While occasionally the collection debt isn’t yours, most of the time, it is. If that’s the case, a settlement is one way to resolve the situation.

Remember that debt collectors pay, on average, 4 cents for every dollar of debt that they buy. That gives you room to negotiate. A collector can accept less than you owe and still make a profit.

An article from U.S. News & World Report found that collection agencies will settle for between 40-60% of the balance – which could mean thousands of dollars saved.

You might offer 10% of your balance to see what they say.

They’ll probably ask for more, but don’t let them push you around. With a little negotiation, you can reach an agreement you’re comfortable with.

Pay for Delete

A collection agency may agree to remove your account from your credit record if you settle your debt. This is a “pay for delete” arrangement.

When you discuss a settlement, ask the collection agency representative if they will delete your record if you pay. Send a formal “pay for delete letter” to confirm the arrangement and ask for a written commitment.

Remember that you cannot compel a credit bureau to remove a legitimate account from your record. It will be recorded as paid, but it may remain on your credit report for seven years from the date when the account first became delinquent.

A pay-for-delete arrangement is a gamble. It may not work, but it’s worth trying. If they accept the settlement, you will no longer have to deal with the collection agency, and that’s a big plus.

Get Your FREE Pay for Delete Letter Template

After much testing, we have put written a great pay to delete letter you can use to get started.

Download Now!

Hire A Credit Repair Company

If you don’t want to go through all the trouble of writing letters and negotiating with Jefferson Capital Systems on the phone, consider hiring a credit repair company to help.

A credit repair company is equipped to deal with aggressive debt collectors to help you get the best possible outcome.

The credit repair industry has earned a terrible reputation, and you’ll have to look out for disreputable companies and credit repair scams. There are still some companies that are legitimate and helpful.

Choosing to work with an expert sooner rather than later can save you a lot of time and money in the long run.

Get Professional Help

We analyzed 21 credit repair companies based on price, service, and results, and picked our top three choices.

Best Credit Repair Companies

Then you can sit back and relax while the credit pros do all the work.

If you’d rather do it yourself, that’s okay, too.

What If They Sue?

Collection agencies will take you to court, sometimes over quite small amounts. If a debt collector sues you, don’t ignore the case.

If you don’t respond, the judge will probably issue a summary judgment against you. You will be ordered to repay the debt. If you don’t, your wages could be garnished. In some states, your assets could be seized.

Not all companies will exercise their right to file a lawsuit against you, but a lawsuit is always a possibility when dealing with an aggressive debt collector.

Important! Read up on what to do if you get sued by a debt collector to make sure you take all the right steps.

Free Yourself From Jefferson Capital Systems

Debt collectors will not go away on their own. They will keep harassing you, and you might end up in court. Running away is not an option.

Instead, take the initiative. Learn how to communicate with debt collectors and know your rights. You can control the process and the situation if you’re aware and proactive.

It’s not going to be a pleasant experience, but it will be a better experience if you’re in the driver’s seat!

The post How to Remove Jefferson Capital Systems From Your Credit Report appeared first on FinMasters.