Credit Corp
NOVEMBER 9, 2020
Can a collection agency report to a credit bureau without notifying you? It does not come into play for creditors collecting their own debts. In its annual report to Congress about debt collection complaints, the Consumer Financial Protection Bureau described collection complaints received by the Federal Trade Commission (FTC).
Credit Corp
JUNE 14, 2020
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. First, judgments provide the creditor with the legal means to collect via actions such as wage garnishments or bank account liens.
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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.
The Kaplan Group
JUNE 25, 2020
This information provides the basis of your credit report. Reports of being sent to collections or having outstanding judgments are big red flags for creditors and have a significant negative impact on credit ratings. How Can You Protect Your Credit Rating? Collection agencies also have the option to report debts.
Troutman Sanders
MAY 9, 2023
Among other things, the bill: (1) caps the rate of interest on medical debt to 3% per annum; (2) requires a debt collector or collection agency collecting on a medical debt to provide the consumer, upon the consumer’s written or oral request, an itemized statement concerning the debt, while allowing the consumer to dispute the validity of the debt (..)
Better Credit Blog
JANUARY 29, 2021
Any time you apply for new credit, like a card, loan, or line of credit, the lender might run a hard credit check. Hard inquires give creditors an all-access pass to your credit reports. Hard inquiries get added as a new entry on your credit report, remaining there for two years. HARD INQUIRIES. Charge offs.
Better Credit Blog
JANUARY 6, 2021
Soft inquiries have no effect on your credit. Whenever you apply for a credit card, the creditor might only obtain one of your reports, or they could opt for all three. Dealing with lenders and credit bureau representatives regarding fraudulent inquiries can be a hassle. Charge-offs. Collections. Foreclosure.
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