How To Remove Capital Management Services From Your Credit Report
If you have a debt, maybe a medical bill or credit card bill that has gone to collections, you may have heard from a full-service accounts receivable management company called AR Resources.
AR Resources is a debt collector that has been hired on behalf of the original creditor. Their job is to coerce payments from you in whatever way they can.
To do this, they must first open an account on your credit report as reported by the three credit reporting agencies. Basically, this action shows they are authorized to collect on the debt.
Collection entries on your credit report are extraordinarily harmful to your credit score.
They can affect your score for up to seven years after you pay the balance of the debt, and they can be viewed by future lenders who can make loan decisions based on your history of nonpayment.
All of these factors can inhibit you from making big financial decisions like opening a small business or purchasing a mortgage.
The best way to repair and prevent future damage to your credit score is to remove AR Resources’ entry from your credit report as soon as possible.
What is AR Resources Inc.?
AR Resources is a medium-sized United States debt collection agency in Blue Bell, Pennsylvania, but has other offices in Jacksonville, Florida.
They are a legitimate company and now a scam, providing various accounts receivable solutions, including pre-collection programs and bad debt contingency collections.
Founded in 2002 in Pennsylvania, they provide collection services for a variety of industries including banking, healthcare, property management, and small businesses.
However, the majority of their clients are healthcare and education loan providers.
AR Resources has an enormous number of complaints for such a young company.
They have accrued 625 complaints filed with the Consumer Financial Protection Bureau (CFPB) and 144 with the Better Business Bureau (BBB.org) for things such as harassment, inaccurate reporting, and failure to validate debts, all in violation of the FDCPA.
In fact, one of the main questions asked is, “Can a debt collection agency really sue me over a medical bill?”
A lot of AR Resources complaints went into detail about lawsuits in Connecticut.
If you experience similar treatment by AR Resources, you can file a complaint with the bureaus as well.
Steps to Remove AR Resources Inc. from Your Credit Report
To put an end to the communication with AR Resources and remove the collection from your credit report, here are the steps you will need to take.
- Ask for a Goodwill Deletion
- Request Debt Validation
- Make a Pay-for-Delete Agreement
- Hire a Professional
Ask for a Goodwill Deletion
If you have already paid the balance of your debt, you may be able to secure a goodwill deletion from AR Resources Inc.
A goodwill deletion is when a debt collection agency deletes an entry from your credit report out of benevolence.
Securing a goodwill deletion will likely work if you have paid the debt and have an otherwise clean credit report.
To request a goodwill deletion, write a letter to AR Resources Inc. that explains your situation.
Tell them why you were late on payments and why you would like the entry removed. A common reason for requesting a goodwill deletion is that you are trying to buy a house or car and need a loan.
Make sure that you are honest and polite in your letter. Remember that AR Resources would be doing you a favor by granting you a deletion.
They will be more likely to do this if the tone of your letter is sincere and apologetic.
Request Debt Validation
If you fail to get a goodwill deletion, the best way to get a collection account removed from your credit report is to identify any inaccuracies in the entry.
You can do this by requesting debt validation from AR Resources Inc.
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It is not uncommon for information about debts to get lost or misconstrued in the transfer from the original creditor to the debt collector. In fact, it is possible that the debt doesn’t even belong to you.
If this is the case, you can have the entry removed from your credit report by writing a debt validation letter to AR Resources and then disputing the entry with the three major credit bureaus.
To request debt validation, you will need to write a debt validation letter and send it to AR Resources within 30 days of their first contact with you.
Once you hear back from AR Resources with the information about your debt, review the documents carefully, and look for any inaccuracies.
If you spot any incorrect information, follow up with the major credit bureaus, and file a dispute. This should be enough to remove the entries, which means that you may not have to pay the debt at all.
Make a Pay-For-Delete Agreement
If you are unable to find any inaccuracies with the debt, your next step will be to negotiate a pay-for-delete agreement.
A pay-for-delete agreement is exactly what it sounds like. AR Resources Inc. agrees to stop reporting the debt to major credit bureaus in exchange for payment on the debt.
Sometimes, the debt collector may be willing to settle for less than the full amount just to make some of their money back. Start by offering to pay half of the total amount and negotiate from there.
Once you settle on an agreement, ask for AR Resources to send it to you in writing. Once you receive your agreement in the mail and confirm that everything looks good, make your first payment to AR Resources Inc.
Check your credit report 30 days after making the payment to see if AR Resources Inc. still appears on your credit report. If they do, reach out to them and remind them of your agreement.
Get a Free Copy of Your Credit Report
Hire a Professional
AR Resources is a tough egg to crack. If you are unable to get anywhere with them on your own, you can always work with a reputable credit repair company to get the entry removed.
Credit repair companies are an excellent service. They can help people clean up their credit reports and get their scores back on track without having to deal with debt collectors.
It is important to work with a reputable credit repair company to ensure that you are getting what you pay for.
I like to recommend Credit Saint or Lexington Law to people that would like to partner with an industry professional.
They can help you get negative items removed from your credit report and boost your score.
They will work with you to come up with a plan of action to help you clean up your credit report and regain financial freedom.
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AR Resources Inc. Contact Information
Here is some contact information on this collection company:
- Headquarters Address: 1777 Sentry Pkwy W, Blue Bell, PA 19422
- Mailing Address: PO Box 1056 Blue Bell, PA 19422
- Phone Number: (866) 407-0443, Toll Free: (866) 407-0443, Fax: (561) 921-8639
- Website: arresourcesinc.com
- Other Names: AR Resources Collection, ARR,
Dealing with AR Resources Inc.
No one enjoys dealing with debt collectors, but it’s better to handle them quickly than have them damage your credit score for years to come.
The best way to get your credit score back on track and move one step closer to achieving your financial goals is to remove AR Resources from your credit report entirely.
Improving your credit score is an achievable goal for everyone.
If you are trying to rebuild your credit, check out some of our most popular articles to learn more.
Make this the year that you regain financial freedom.
Keep in mind, this article is not meant to serve as legal counsel. Please retain a debt relief law firm should your situation warrant it.
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