Sawin & Shea

JANUARY 28, 2021

When you hire Sawin & Shea for your bankruptcy, we give you a phone script that helps you handle collection calls. After you retain the firm, creditors must stop calling you once they have notice of our representation. There are also a few important things you should keep in mind about talking to collection companies and creditors.

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Collections Bankruptcy Creditors Original Creditor 52

Sawin & Shea

JUNE 9, 2021

Approximately one third of consumers with a credit bureau file were contacted by at least one creditor or debt collector each year, according to a CFPB (Consumer Financial Protection Bureau) survey. The FDCPA applies only to debt collectors (the third-party collection agencies), not to the original lender.

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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

JUNE 14, 2020

That collection agency may report the debt as owed to the credit bureaus. Suddenly, the debt reappears on your credit report, except now it’s a zombie debt. If the original creditor went to court and obtained a judgment against you for a debt, the zombie debt cycle can be more complicated.

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Credit Corp

MAY 3, 2023

However, it could take several years to fully restore your credit. Bad credit issues, such as late or missed payments and defaults, can remain on your credit for up to 7 years in most cases. However, bankruptcies can remain on your account for up to 10 years. Ultimately, these negative items can affect your credit score.

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Collection Industry News

SEPTEMBER 8, 2020

Note, however, that the FDCPA applies only to third party collectors who collect debt for original creditors. It does not apply to the original creditor itself who uses its own employees to collect debt. c) Falsely representing that they work for a credit bureau. Let’s use our beloved Pres.

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