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Credit Report and Collection Agencies: How to Deal with Debt Collectors  

Credit Report and Collection Agencies: How to Deal with Debt Collectors  

If a collection agency has contacted you recently, they probably do this to pursue an old debt of yours. They may even threaten to sue you or garnish your tax returns or wages. If you’re being hunted, that entails that the creditor opened a collections account on your credit report for the old debt you took.

Dealing with debt collectors is stressful, terrifying, and overwhelming. Still, the consistent and annoying phone calls are just the tip of the iceberg when it comes to this kind of situation. Note that a collection account in your credit report will negatively affect your credit score for a maximum of seven years.

If you are trying to refine your credit and hopefully get a new credit card, a collections account can hinder this action and set you back. One of the best ways to prevent this from happening is to deal with it immediately and ask for removal; the information below will further explain this below. The topics consist of all about the agency that keeps calling you, a four-step to-do list when dealing with debt collectors, how to reach them, and a takeaway.

What collection agency keeps on calling me?

A company called GC Services is the one that keeps calling you; it is one of the largest agencies that collects debt in the United States. Its headquarters are situated in Houston, Texas. The agency was founded in 1986 with over 9,000 employees and 30 call centers.

Steps to Remove a Debt Collection from Your Credit Report

1.  Understand Your Rights

Debt collectors get money by coercing individuals to arrange payments out of you. They use several illegal acts to achieve this. Collectors don’t want you to know that it is unlawful for them to harass you.

You are protected from abuse from debt collectors under the federal law, FDCPA. Inform the agency that you are aware of your rights and about FDCPA – this will let you have the upper hand in the situation. You can defend yourself since you are aware of your rights, and you can use their mistreatment in court if you choose to do so.

The FDCPA prohibits debt collectors from doing the following:

  • Calling your family, friends, or coworkers regarding your debt
  • Calling you at work or a time where you told them it is inconvenient
  • Using profane or harmful language
  • Shows misleading information to you about your debt

Dealing with debt collectors and legal manners is all too confusing. Fortunately, websites on the Internet can cater to your concerns for free; an example of this is Crediful.

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2.  Ask for a Goodwill Deletion

After paying for your debt, ask them to delete their collection entry. As mentioned above, a collection account can bring your credit score down. It’s called a goodwill deletion; it is a way of having the mark be removed from your account after you’ve met their demands. Ask this request to be in writing.

A goodwill deletion will show the reasons why you took so long to repay your debt and why you’re asking them to delete it from your account. If you’re on good terms with the agency, then there’s a chance that they will grant this letter.

3.  Request a Debt Validation

Identity theft is on the rise today. An individual can steal your credit card number, driver’s license, social security number stolen and used to open an account. As such, you must confirm with the agency if it is indeed your debt. Each year, many people got their debts nullified because a collector has the wrong information.

You must write to the agency about requesting debt validation. It is a formal request since a validation letter has all the information regarding your debt. You must send it within the first 30 days of contact with the agency. Once they receive the letter, they must send documents proving the debt is yours.

If you’ve found information that contradicts the documents sent, you can send a dispute to the three major credit bureaus. If these professionals agreed that the collection agency got it wrong, they would remove the collection from your credit profile.

4.  Negotiate a Settlement

There is a possibility that the deletion request can get denied; you can negotiate a settlement with the agency. It is known as a pay-for-delete settlement which involves paying the debt collector to delete the account.

After successfully negotiating, have the agency write a contract that states all of the terms. Don’t make any payments unless you double-checked and approve the agreement. The deletion should take effect within 30 days; if not, contact them immediately.

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How do I contact them?

Here is their different contact information:

  • Telephone Number: 1-877-374-0943 and 1-713-776-6623
  • Website: https:///www. gcserv.com
  • Mailing Address: LP 6330 Gulfton, Houston, Texas, 77081

Check Out: More Helpful Resources on FindCult.com

Takeaway

No doubt, it isn’t very comforting when your credit score will lessen, and a collections account is in your credit report. But with the information you have above, dealing with debt collectors can be breezy. The best choice is to contact professionals when it comes to legal manners, such as this case. Always remember to be smart with your decisions.

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