Chances are good that the company is a debt collection agency that appears on reports as a collector. This indicates that they may have bought the debt from the original creditor or a loan provider, often for a fraction of the original amount, sometimes as low as 10% of the original debt's value. Alternatively, they might be operating as a third-party agency, collecting debts on behalf of another company.
This type of company typically reaches out to debtors via letters or phone calls, urging them to make payments. Unfortunately, having a collections account on your report can negatively impact your score, making it more challenging to secure loans or other important financial opportunities.
If your report contains inaccuracies, errors, or fraudulent information related to a collections agency, and these issues cannot be rectified promptly, it may be possible to have the entry removed. A study by U.S. PIRGs found that a notable 79% of reports contain mistakes or significant errors. We specialize in helping clients address and resolve such accounts.
The Company most likely is a debt collector that appears on your report when a collection account has been reported. They focus on buying debts from various creditors who have ceased their collection efforts, often dealing with what is known as a "charge-off."
If your report contains inaccuracies, errors, or fraudulent information related to the company, and these issues cannot be rectified promptly, it may be possible to have the entry removed. A study by U.S. PIRGs found that a notable 79% of reports contain mistakes or significant errors. We specialize in helping clients address and resolve such accounts.
