Have you been receiving unwanted phone calls from a debt collector? Calls from agencies such as Enhanced Recovery Company can be pretty troublesome and intimidating, especially when they become annoyingly persistent. When you’re unprepared, you might end up agreeing to something that will put you on edge.
There’s a pattern, actually. They would insist that you pay a debt immediately, and most often than not, would use tactics that violate the law while trying to get that money from you. Sometimes, this supposed ‘debt’ might not even be something that you owe. Having ERC listed on your collections account is the last thing you really need.
Dealing with them doesn’t need to be complicated. Below are some helpful information about ERC and a few tips on how you can deal with them and get them off your credit report.
Also known as Enhanced Resource Centers, or ERC for short, this company is one of the largest third-party collection agencies based in Jacksonville, Florida. You might think they are a scam based on their methods of collecting, but they are not. In fact, they are an authorized company with over 800 employees and even reach annual revenue of $100 million.
ERC collects for major telecom companies, credit cards, financial services, student loans, or utility companies. They would buy the debt for a lower price but will proceed to collect the entire principal amount anyway. Because of this, numerous complaints have been filed against them.
Most of them are violations against the Fair Debt Collection Practices Act (FDCPA), which includes making false statements, attempting to collect a debt not owed, sharing information improperly, even making threats. If you’re experiencing one of these, you should contact a professional as soon as possible.
You don’t have to deal with them all yourself because you can get help from credit repair companies like Lexington Law. If you want to know more about ERC, then you may visit Crediful.com for more info.
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Orienting yourself with the things you have to prepare the next time ERC calls you is an essential first step towards getting rid of them.
Always have your collections log with you. It doesn’t have to be anything fancy. Just a simple pen and paper, or even with the use of your computer or phone, will do. In this log, consider writing down the date and time the collector called, the name of the person you are speaking with, and some important points of your discussion.
Keep the conversation short and simple, and never negotiate with them, there and then. You need time to think about whether you can afford to pay and, most of all, confirm if the debt is yours.
During the discussion, always make sure that you don’t give them any information about you. This is because they can use even the smallest detail about you to make you pay the debt. For example, using your current employment status to pressure you into paying (“I see that you’re employed in X company, surely you can pay this.”).
If you want, you can also write them a request to stop contacting you.
Having a collections account is a big no-no, especially if you seek to apply for a loan. That is why the sooner you handle ERC, the lesser the damage it can make to your credit report. You can:
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First of all, you must have the company verify that the debt is indeed yours. Sometimes, they would send you verification documents that serve as proof that you owe the debt. Yet, most of the time, they don’t because they might not have the complete documentation to verify the debt as they are not the original creditor.
Or, the information is just completely unreliable. If they can’t officially validate your debt, then you don’t have to pay it at all. They are also obliged to dismiss it from your records. 30 days is all you have to ask for debt verification the moment they contact you. Beyond that, you would have to pay your debt.
This step could also be one of your last resorts, especially if you have already reached the 30 day limit of requesting a debt verification or if the debt is yours. They might settle for less if you’re willing to pay them upfront. If you do consider this option, try negotiating with them starting from 50%. Just remember, this still depends on how much debt you owe them.
The safest way to face these situations is to let the experts handle them for you. Removing ERC from your credit report on your own is stressful, frustrating and only consumes your time. Sometimes, the situation might even get out of hand. Do not allow it to reach that point. Consider working with the professionals to dispute ERC.
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Doing a bit of research about ERC could help you remove and protect your credit report. You can try to use the few tips mentioned above so that the next time they ring your phone, you’ll know what to do.
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