Debt Collection Answers

MAY 10, 2023

They specialize in collecting debts for: Student loan providers Auto lenders Healthcare providers Credit card companies Telecommunications companies. Upon being hired by a client, Southwest Credit Systems acquires the debt at a discounted rate from the original creditor.

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Credits Inc

OCTOBER 26, 2019

Creditors give loans to millions of citizens, and thus credit companies are too busy to follow up on the debtors. For this reason, creditors are hiring debt collection agencies to collect debts that are 60 days past the agreed period. Therefore, the agencies act as middlemen collecting any delinquent loans.

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Better Credit Blog

SEPTEMBER 9, 2020

This can mean that you may be passed over for loan and credit card approvals in the future. They are headquartered in Farmingdale, NY, and are known as a “late-stage” debt collector, which means they may have purchased the right to collect the debt from the original creditor.

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Better Credit Blog

APRIL 1, 2022

A good credit score allows you to get better rates on car or mortgage loans just to name a few. If you fall into hard times, the inability to pay off your credit card bills or student loans can result in your debts being transferred to a debt collection agency. If you can, try to settle with the original creditor.

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Better Credit Blog

SEPTEMBER 11, 2020

They collect a variety of debts including those from banks, telecommunication companies, student loan providers, college and universities, and more. This will typically only work if you have already paid the debt and have maintained timely payments with the original creditor.

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Better Credit Blog

APRIL 1, 2022

It’s smart to know how to remove negative items from your credit report, especially if you are soon to be applying for a mortgage or car loan. 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. You may spend $400 to $500.

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Better Credit Blog

APRIL 3, 2022

In other words, when the original creditor has been unsuccessful in collecting on a debt, it will write off the debt as a loss. Debt buyers like Portfolio Recovery Associates, LLC, buy hundreds of accounts at a time from credit card companies like CapitalOne and Discover and from student loan servicers and lenders.

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Better Credit Blog

SEPTEMBER 9, 2020

You may even be turned down for loans and credit cards because of it. Originally founded in 2014, Phoenix Financial Services is a small debt collection agency out of Indianapolis, IN. They specialize in collecting debts from medical institutions, student loan providers, and government agencies. Request Debt Validation.

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Better Credit Blog

SEPTEMBER 8, 2020

If you begin to hear from a debt collection agency called Pioneer Credit Recovery, it is likely because you have defaulted on a loan or forgotten to pay a bill. Originally founded in 2001, they collect debt on behalf of federal student loan servicers, county and municipal courts, the IRS, and more.

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Credit Corp

JULY 7, 2021

Reduce Your Student Loan Payments. Collection accounts may be reported for seven years plus 180 days from the original date of delinquency — the date he first fell behind with the original creditor. 1, 2000, is the original date of delinquency. Find a better rate for you. Compare Your Options.

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Better Credit Blog

SEPTEMBER 4, 2020

This is because Rausch Sturm has been hired by your original creditor to collect the debt on their behalf. Originally founded in 2008, Rausch Sturm is a medium-sized debt collection agency out of Brookfield, WI. If you have heard from a debt collector called Rausch Sturm, you are probably being pursued for an old debt.

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