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Monday Mailbag 10/15/2018

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Question:

My credit card debt keeps increasing. I keep spending and spending, it’s very hard for me to stop. How do I stop spending and pay down my credit card debt?

Answer: 

If you don’t have the self-control to stop using your credit cards then you really only have one option to pay down your debt. Cut up all of your credit cards and use a debit card or cash for your monthly expenses. Create a budget to make sure that your expenses are lower than your income and have money saved over at the end of the month to pay down your credit card debt.

– – –

Question:
What does an outstanding judgment on a credit report mean?

Answer:
A judgment refers to a court’s decision to side against you in a lawsuit. Basically, it means that someone (person or company) filed a civil lawsuit against you, won, and a judgment was entered against you.

An outstanding judgment refers to the fact that the judgment is unpaid and still open.

In most cases, we see judgments originate from charged-off credit cards or other collection accounts. Ultimately, a court has decided that you are liable for the debt.

A judgment may also give the plaintiff (the person or company which filed the judgment against you) legal authority to garnish your wages, garnish of your tax refund, or even access the money in your bank accounts to recover their funds.

According to the FCRA, judgments can report for a period of up to 7 years on consumer credit files from the filing date.

– – –

Question:
How long does it take to remove inquiries from a credit report?Answer:
Hard inquiries can report on consumer credit reports for a period of up to 2 years from the date that they are initiated.A hard inquiry may be removed before the 2-year clock expires if the creditor which is reporting the inquiry cannot provide documented proof of their permissible purpose for pulling your credit report.

– – –

Question:
How accurate is the credit score you get on Mint.com?

Answer:
Mint.com’s credit score is calculated using the VantageScore v3.0 scoring model.
90% of all lending decisions in the U.S. are made using FICO credit scores. Depending on the information reporting in your credit reports, your VantageScore and FICO score might only be 5 points off of 50 points off. Every situation is different and sometimes the VantageScore is very accurate but, sometimes it’s completely off. If you’re interested in seeing your actual FICO scores you can access them at myFICO.com.

Are you ready to get started on your journey toward a better credit score?

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 3-5 days.

Support. Award-winning customer service guarantees your satisfaction.

CreditFirm.net Review

Who is Alliance One Collection Agency

August 12, 2018 by  
Filed under Blogs, Collection Agencies

alliance one collection

Who is Alliance One?
Alliance One is both a first and third-party collection agency which provides collection and contact center solutions for companies in the auto, financial services, government, education, healthcare, retail, telecommunications, and utility sectors.

Mainly, Alliance One collects debt for a plethora of state and local municipalities for debt ranging from traffic tickets, parking tickets, tollway violations, etc….

Founded in 1998 Alliance One, a subsidiary of TPUSA, Inc. d/b/a Teleperformance U.S.A., is based out of Trevose, PA. TPUSA provides call center services to clients in telecommunications, Internet services, financial services, automotive, technology, insurance, and membership services sectors, as well as in the public sector with call centers in the United States, Argentina, Brazil, Canada, El Salvador, Mexico, the Philippines, and India.

Ultimately, Alliance One is a collection agency which also runs call centers so, don’t be surprised if the agent calling you on behalf of Alliance One is located in India or South America.

Alliance One Contact Information
Main Phone: 800-858-4472
Corporate Phone: 215-354-5511

Mailing Address:
AllianceOne Receivables Management, Inc.
4850 E. Street Road
Suite 300
Trevose, PA 19053

Alliance One Complaints?
There are several consumer complaints online about Allied Interstate’s business practices ranging from excessive calling to inconsistent payment amounts.

What do you do if Alliance One is reporting on your credit report?

To start, you need to take action right away and verify the information with the credit reporting agency, validate the debt with Alliance One, and contact the CFPB to verify the compliance of the collection agency.

Or, you could always hire a credit repair agency to take care of all of the paperwork on your behalf.

Credit Firm.net has helped thousands of their clients delete Alliance One collection accounts from their credit reports.
If you have been contacted by Allied Interstate or have an Allied Interstate collection account reporting on your credit report, let CreditFirm.net protect your rights and engage these companies on your behalf to improve your credit.

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 3-5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

Who is Allied Interstate Collection Agency

August 11, 2018 by  
Filed under Blogs, Collection Agencies

Allied Interstate Collection Agency

Who is Allied Interstate?
Allied Interstate is a third party collection agency which either purchases or services debt for companies and attempts to collect on the debt from consumers.

Founded in 1954 Allied Interstate, a subsidiary of iQor, Inc., which is privately owned by Huntsman Gay Global Capital, is based out of Minneapolis, Minnesota.

Allied Interstate’s parent company, iQor is an outsourcing company which provides businesses not only collection services but, also customer service and accounts receivable administration. The company operates about 40 call centers in North America, Europe, and Asia.

Allied Interstate Contact Information
Main Phone: (800) 811-4214
Corporate Phone: (952) 546-6600

Mailing Address:
Allied Interstate
P.O. Box 361477
Columbus, OH 43236

Corporate Address:
Allied Interstate
435 Ford Road
Suite 800
Minneapolis, MN 55426

Allied Interstate Complaints?
There are many complaints about Allied Interstate’s business practices ranging from excessive calling to harassment.

In 2010, Allied Interstate was fined $1.75 million by the Federal Trade Commission for harassing debtors and trying to collect from the wrong people.

What do you do if Allied Interstate is reporting on your credit report?
To start, you need to take action right away and verify the information with the credit reporting agency, validate the debt with Allied Interstate, and contact the CFPB to verify the compliance of the collection agency.

Or, you could always hire a credit repair agency to take care of all of the paperwork on your behalf.

CreditFirm.net has helped thousands of their clients delete Allied Interstate collection accounts from their credit reports.

If you have been contacted by Allied Interstate or have an Allied Interstate collection account reporting on your credit report, let CreditFirm.net protect your rights and engage these companies on your behalf to improve your credit.

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 3-5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

Stop Harassing Calls From Debt Collectors

September 16, 2016 by  
Filed under Blogs, Collection Agencies

cease and desist letter

You’re sitting at home having dinner with your family when the phone rings. Who can it be? It’s your local, neighborhood debt collector demanding payment from you on a past due debt.

Dinner ruined…

No one likes receiving annoying calls from collection agencies, they almost always seem to call at the wrong time and can be down right rude.But, don’t worry, you don’t have to put up with these calls, the FDCPA (Fair Debt Collection Practices Act) allows you to stop debt collector calls at any time.

How do you get a debt collector/ collection agency to stop calling?
With a letter of course.
Below, please find a template of a limited cease and desist letter which will stop debt collectors from calling you but, still allow them to contact you via mail. (That way you can still know what’s happening with your collections.)

————
————

Your Name
Your Address

Re: Account XXXX-XXXX

To Whom It May Concern:

You are hereby notified under provisions of Public Laws 95-109 and 99-361, also known as the Fair Debt Collection Practices Act, that your services are no longer desired.

1) You and your organization must CEASE & DESIST all attempts to collect the above debt via telephone. If you wish to contact me, please do so via standard postal mail.  Failure to comply with this law will result in my immediately filing a complaint with the Federal Trade Commission, Consumer Financial Protection Bureau, and this state’s Attorney General’s office. I will pursue all criminal and civil claims against you and your company.

2) Let this letter also serve as your warning that I may utilize telephone-recording devices in order to document any telephone conversations that we may have in the future.

Have a wonderful day.

Sincerely,

Your Name
Your Address

————
————

Mail the letter Certified Return Receipt Requested (CRRR) so you have proof that the collection agency received your request.

Please note that stopping a collection agency from calling you will not make the debt disappear or remove the derogatory account from your credit report.
If you have debt collectors calling and harassing you, utilize this letter to get a little breathing room but, understand that you will have to deal with this issue at some point in the future and repair your credit.
CreditFirm.Net has helped thousands of consumers just like you remove collection accounts from their credit reports and improve their credit scores.

 

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 3-5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

Who is LVNV Funding Collection Agency?

December 17, 2013 by  
Filed under Blogs, Collection Agencies

by: Michael Creditfirm.
lvnv logo

LVNV Funding, a subsidiary of Sherman Financial Group, is a collection agency that, through its subsidiaries and affiliates, originates, purchases and services all types of consumer debt in the United States and Mexico.

LVNV Funding purchases consumer debt owned by banks, finance companies, and other debt buyers at an average of 3 cents on the dollar and then attempts to collect on the accounts through its’ collection servicer Resurgent Capital Services LP.

resurgent collection agency

Resurgent is a third party manager and servicer of consumer debt for LVNV Funding, meaning that Resurgent is the actual collection agency that is responsible for collecting on the debt. But, although Resurgent, in most cases, performs the collection activities themselves, they may outsource the recovery of the debt to other, third party collection agencies.

Confused?

You should be.

Basically LVNV Funding buys debt, then has Resurgent try and collect on the accounts. Resurgent may then outsource the debt collection to another collection agency.

What does this mean to you?

If you are trying to resolve your debt and find an account from LVNV Funding, you may decide to call them. LVNV Funding will then refer you to call Resurgent at 888-665-0374.

If Resurgent outsourced the debt, they will then give you the name and phone number of another collection agency to contact, which may or may not have your debt because they may have outsourced your account to someone else.

Here’s the worst part, technically, every collection agency that touches your account, has the right to report it to the 3 credit reporting agencies (Experian, Equifax, and TransUnion).

This means that one collection account can turn into 3 or 4 accounts reporting on your credit file. And each new account will lower your credit score.

But here’s the kicker, Resurgent is actually another subsidiary of Sherman Financial, just like LVNV Funding.

Here is a brief list of the companies owned by The Sherman Financial Group:

Sherman Acquisition Limited Partnership
Sherman Acquisition II Limited Partnership
Sherman Acquisition L.L.C.
Limestone Asset Management LLC
Granite Asset Management LLC
Resurgent Capital Services L.P.
Resurgent Capital Services PR LLC
LVNV Funding, LLC
Ascent Card Services, LLC
Ascent Card Services II LLC
Anson Street LLC
Ashley Funding Services LLC
SFG REO, LLC
PYOD LLC

Complaints?

There are many complaints about LVNV Funding’s business practices and the manner in which they attempt to collect on their debt. Honestly, there’s just way too many to list.

The complaints range from trying to collect on accounts outside of state statute of limitations, to harassment, re-aging debt, and violating the FDCPA (Fair Debt Collection Practices Act).

Here’s one example:

Maryland State Collection Agency Licensing Board
vs
LVNV Funding LLC and Resurgent Capital services

Date of Action: 7/2/2012

On July 2, 2012 LVNV Funding LLC and Resurgent Capital Services L.P. entered into a agreement with the Collection Agency Licensing Board, a division of Maryland’s Department of Labor, Licensing and Regulation concerning alleged violations of federal and state debt collection laws.

Under the terms of the settlement agreement, LVNV and Resurgent will dismiss without prejudice all pending cases filed in the District Court of Maryland prior to the date of the settlement; will provide restitution for consumers in the form of partial credits in cases in which Respondents obtained judgments, as well as in some cases that Respondents settled with the consumer-defendants prior to judgment.

This will result in the dismissal of more than 3,500 cases pending in Maryland district courts having balances of over 7.7 million.

What do you do if LVNV is reporting on your credit report?

To start, you need to take action right away and verify the information with the credit reporting agencies, validate the debt with LVNV Funding, and contact the CFPB to verify the compliance of the collection agency.

Or, you could always hire a credit repair agency to take care of all of the paperwork on your behalf.

Credit Firm.net has helped thousands of their clients delete LVNV Funding and Resurgent Capital collection accounts from their credit reports.

If you have been contacted by LVNV Funding/Resurgent Capital or have an LVNV Funding collection account reporting on your credit report, let CreditFirm.net protect your rights and engage these companies on your behalf to improve your credit.

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

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