You are receiving calls from our office either regarding a personal business matter that our office is handling in your name or if you were listed as a point of contact for another individual who may have a business matter with us.
*What does charged off mean?
Charged off is when an account is marked on the credit report as a delinquent account, typically when it has missed 6 consecutive payments. A current account which has never missed a payment towards it listed as an R1 rating on the credit report and a charged off account is listed as an R9, which may affect the consumer’s credit report in a negative way.
*I cannot pay today, what are my options?
Based on your situation, our office can provide several different payment options to assist you in getting your account back into a positive status.
*What is a settlement payment?
A settlement is an offer that our client has approved on your account for you to pay less than the full balance to help you in resolving your account. Several different factors may affect your settlement offer, from payment history, account balance, reason for delinquency, and your current financial situation.
*How do I update my credit report?
Once you have paid off or settled your account with our office, we will assist you in getting your credit updated by providing you with a paid letter showing that your account has been resolved, that you have a $0 balance and that you have been released from any further obligation on your account. From there, you would make 3 copies of that letter and send one to each of the three major credit bureaus: Experian, Trans-Union, and Equifax. We can also provide you with the addresses for all three bureaus if necessary.
*How long can my account be collected on?
Each state has a “Statute of Limitations” date which determines how long an account is considered as being eligible to be legally pursued. These time frames vary from state to state but it is typically a 4-7 year time period. Once the statue of limitations has expired, the account is still a valid debt and collection efforts may still continue, however, no legal action can take place after that date.
*How can I make my payment?
We accept credit/debit card or checking/savings account payments over the phone, free of charge to you. We also accept payments through our website, also free of charge.