Your rights when dealing with a professional finance company
If you’ve been harassed by a professional finance company and feel that your loan is getting worse, you have rights. Under the Fair Debt Collection Practices Act, which was approved in 1977, it is illegal for debt collectors to harass you. The act covers debt collection agencies, not the original lenders. Under the law, debt collectors must stop harassing you, and they can’t call you repeatedly after eight p.m.
First, a Professional Finance Company must inform you that it’s a collection agency. They cannot threaten you with legal action or arrest unless they can prove you owe the debt. In addition, they cannot make you keep making monthly payments or scold you by calling repeatedly or threatening you. And, they can’t make you publicly publish a list of debtors. It’s your right to be informed of your rights before any debt collectors start calling.
Although a Professional Finance Company is not a scam, you should check the company’s status with the Better Business Bureau (BBB). It is a legitimate debt collection agency that has been a member of ACA International since 1944. Even if a professional finance company’s representative is trustworthy, he or she can violate your rights. That’s why it’s important to contact a debt collection lawyer to protect your rights. A debt collection lawyer can protect your rights and make sure the company complies with laws.
During a debt validation letter, the Professional Finance Company must stop contacting you. Debt collectors may not be allowed to contact you at all at night or before eight in the morning. Additionally, if a debt collector tries to contact you during those hours, you must hang up immediately. Otherwise, they may threaten to file a lawsuit or garnish your wages. If a debt collector violates these rules, you can demand a refund and avoid future harassment.
Common complaints against a professional finance company
Consumers may have a complaint against Professional Finance Company if they are charged interest on an old debt and are harassed by collection agents. The company has been responding to complaints about its practices. The Better Business Bureau and the Federal Trade Commission are investigating complaints filed against the company. Consumer complaints are often about harassment, delayed payments, and failure to verify debts. The FDCPA, or Fair Debt Collection Practices Act, prohibits debt collectors from harassing consumers and limits their activities. In general, consumers should avoid repeated, harassing phone calls from collection agencies, even if they are paying a small amount. The FDCPA requires debt collectors to call within a reasonable period of time after hours and not until late at night.
Consumers may be unaware of their rights. Professional Finance Company often collects medical bills. There are key differences between non-medical and medical collections. Some consumers have complained about harassment and illegal communication tactics. These companies may not abide by federal laws or the Fair Debt Collection Practices Act. However, if you are facing trouble in paying off debt, you should contact a debt collection attorney. Agruss Law Firm can help you make sure Professional Finance Company follows the law.
How to get a paid collection account removed from your credit report
If you’ve paid off a collection account but still have it listed on your credit report, you can try to get it removed from your report. The easiest way to do this is by writing to the creditor and asking them to remove it. This method may not work, depending on the size of the account and when you paid it off. Most creditors won’t grant this request due to contracts.
While paying off a collection account is not an ideal situation, it can help your credit score in certain circumstances. If the debt is at least seven years old, removing it will have the same effect as adding a recent collection. Therefore, it may be worth waiting until the debt is seven years old before you try to remove it. After seven years, paid collections are automatically removed from your report.
While paying off a collection account will not increase your credit score, it may improve your score. This is because the recent credit scoring models do not give paid collections much weight. However, a paid collection account can stay on your credit report for seven years. This is because it takes seven and a half years for negative information to fall off a person’s credit report. It may be six months or more before a debt collector reports it on your report.
You can also send the credit bureaus a dispute letter to remove inaccurate or outdated information. Disputes are more likely to be successful if the credit bureau is able to verify that the information is accurate and remove the account. Credit reporting agencies are obliged by law to respond within 35 days of receiving a dispute letter. You can use a sample dispute letter to assist you. So, the next time you have a collection account on your report, make sure you get it removed as soon as possible.
In the meantime, you can avoid making payments on this debt because it takes up to a year for the original creditor to sell the debt to a collection agency. Moreover, you can get the account removed from your report for free by contacting the credit bureaus. This method is more beneficial for those who want to rebuild their credit score. So, be sure to do it quickly before the debt becomes too expensive to recover.
How to avoid being harassed by a professional finance company
You can file a complaint against a Professional Finance Company if it has repeatedly harassed you and charged you interest on an old debt. This action can be costly. Under the Fair Debt Collection Practices Act, passed in 1977, a debt collector is prohibited from harassing consumers by making repetitive calls. In addition, a debt collector cannot make calls to you at unreasonable hours of the day, such as eight p.m. or later.
If you are being harassed by a Professional Finance Company, the first thing to do is to write to them. Tell them to stop harassing you and say how you want to be contacted in the future. Make it clear that harassing you is a criminal offence. Mention that you can take further action if the harassment continues. Remember to send the letter by recorded delivery and keep copies.
Moreover, a Professional Finance Company must be honest when they contact you. If the company contacts you by phone, request the original information of the debt. If the debt collector is insistent, hang up. Do not allow the debt collector to call you repeatedly and threaten you with legal action. Also, if you are being harassed via telephone, ask to see the debtor’s original details. If this is impossible, contact a debt collection lawyer immediately. A debt collection lawyer will make sure that the Professional Finance Company follows all the laws in the process.