Dealing with debt collectors is not easy. Their actions can be harmful for your credit and financial health if you are not careful about them.
However, the good news is that America protects you from debt collectors through laws and regulations, such as federal laws and rules to protect your financial future and secure your rights.
At Great American Credit Repair, we help people legally.
How Can Debt Collectors Damage Your Credit?
Suppose you miss a payment, and it will result in a negative mark on your credit report. It damages your score the longer the account stays in collection.
The worst thing is, though you eventually pay the debt, the negative mark stays on your credit report up to 7 years. Protect credit from debt collectors.
Now, the concern is what should you do to save your credit score and financial health. Let’s know some steps.
Know Your Rights Under the Law
Inn credit reports.
Credit holders can protect their credits from the collection if the information is inaccurate or errors.
Your rights:
- Debt collectors can’t harass or threaten you.
- You can request to get debt validation.
- You can dispute inaccurate information with credit bureaus.
- You can request the collectors to stop contacting you (in writing)
- You have the right to know that your account is going to be turned over in collection before the action.
Request Debt Validation
- According to the FDCPA law, consumers have the right to get a validation letter on debt collection. Debt collectors must prove that the debt is accurate.
- If debt collectors fail to prove that the debt is accurate, it means the information written on your report is inaccurate, and you can request to dispute and remove it.
Dispute Inaccurate or Unverifiable Collections
Studies dictatePlease know about these errors that nearly 4 out of 5 credit reports contain errors. You must be aware of these inaccuracies to save your credit. Protect credit from debt collectors.
Information that you can dispute are:
- Duplicate accounts
- Identity theft or fraud
- Wrong personal information
- Too many hard inquiries if those are results of fraud
- Unauthorized or incorrect charges
- Incorrect billing
- Incorrect dates
Negative Items that you can’t dispute are:
- Information verified by the creditor
- Items that are factually correct
Great American Credit Repair repairs your credit by experts who specialize in legally disputing and removing such entries under the FCRA law.