Credit Corp

SEPTEMBER 12, 2023

If you have a lot of inaccurate collection accounts on your report, you might need help from a credit repair firm like Lexington Law Firm. Credit repair companies know how to navigate credit bureau territory, and they can help consumers understand how to handle tricky situations.

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Consumer Financial Services Law

FEBRUARY 1, 2017

A demand letter sent by a debt collector was not doomed by an incorrect statement of the creditor’s name. National Credit Systems, Inc., the debt collector’s initial letter stated as follows: Re: ENCOMPASS MANAGEMENT CONSULTANTS Account #: 3118797 Balance: $875.33 National Credit Systems, Inc.,

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Better Credit Blog

APRIL 1, 2022

If disputing the negative entry doesn’t work because you couldn’t find errors, or because the credit bureaus fixed them, your next step should be asking for a goodwill adjustment. Write a letter to the original creditor or collection agency and ask them to remove the negative entry from your credit history as an act of goodwill.

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Credit Corp

AUGUST 8, 2024

Debt collectors can feel relentless. ” The answer is yes—debt collectors can sue you to recover the debts that you owe. There’s no single answer to how soon a debt collector can sue—it can be between weeks or months, but they’ll usually take steps before it gets to that point.

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Credit Corp

MAY 3, 2023

How to Challenge an Inaccurate Item on Your Credit Report Your right to a free and accurate credit report is protected by the Fair Credit Reporting Act. The Act gives bureaus and data furnishers 30 days to investigate and inform the consumer of their findings. How Fast Can You Clean Up Your Credit Report?

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Better Credit Blog

APRIL 1, 2022

Especially in the current pandemic, COVID 19, medical bills, credit card bills, and other financial service bills may start to pile up. If you’re unable to pay your original creditor, your debt may pass to a debt recovery agency, earning a collection letter and possibly a stain on your credit report.

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Credit Corp

MAY 9, 2023

Each of the three major credit reporting agencies —Equifax, Experian and TransUnion—will include positive rent payment history on credit reports if they receive it. Your landlord must report rental history data to the credit bureau for this to happen. That could help potential creditors look more favorably on you.

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Better Credit Blog

MAY 4, 2022

Debt Consolidation Guide. Owing money to several creditors and remembering when the monthly payments are due for all of them can be overwhelming. And worse, forgetting to pay on time will lower your credit score and cost you more in late payment fees. What is Debt Consolidation? Steps to consolidate your debt.

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Troutman Sanders

MAY 9, 2023

On May 4, Colorado Governor Jared Polis signed SB93 into law.

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Credit Management Company

JUNE 14, 2022

The creditor collecting the debt. A notice informing the consumer they have 30 days to dispute the debt. A statement letting the consumer know if they request additional information about the debt or creditor it will be provided within 30 days. Choosing Which Debt Their Payment Goes Toward.

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FDCPA Defense

MAY 6, 2014

The CFPB does not want debt collectors to tell consumers that paying their debts might help them to improve their credit score. Nor does the CFPB want collectors to encourage consumers to pay by informing them that their failure to do so might harm their credit. Credit Bureau of Georgia, 555 F.

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Fico Collections

JULY 6, 2020

Both of these factors are considered somewhat invisible to the typical credit bureau. Credit bureau data and other behavioural indicators will signpost trouble with current debt, as will the use of forward-looking analytics to detect the effect of incremental debt on default risk.

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Credit Corp

JUNE 14, 2020

Suddenly, the debt reappears on your credit report, except now it’s a zombie debt. Zombie Debts and Judgments. If the original creditor went to court and obtained a judgment against you for a debt, the zombie debt cycle can be more complicated. Why Is Zombie Debt Such a Problem?

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Better Credit Blog

APRIL 5, 2022

Don’t go into too many details, but let the debt collector know if you’re trying to buy a house but can’t because of the negative information on your credit report. Then kindly ask the debt collector to remove collections from your credit report out of goodwill.

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Credit Corp

MARCH 4, 2025

Falling behind on your debt can be frightening. You may wonder if the creditor will come for your property or sue you. Sometimes, you dont even realize you owe a debt before a credit collection service comes calling. Learn how to negotiate with creditors below. Why Should You Negotiate with Creditors?

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Troutman Sanders

AUGUST 3, 2020

The bill defines “extraordinary” collection actions as selling debt to a third party, reporting the debt to a credit bureau, denying medical care, placing a lien on a property, foreclosing on a property, seizing property or funds from a bank account, commencing a civil action, and garnishing an individual’s wages.

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Collection Industry News

SEPTEMBER 8, 2020

THE Fair Debt Collection Practices Act (FDCPA) is a federal law that was enacted in 1978 by the United States Congress to protect consumers from abusive debt collectors. Note, however, that the FDCPA applies only to third party collectors who collect debt for original creditors. Let’s use our beloved Pres.

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