How To Remove Atlantic Credit & Finance From My Credit Report
It’s all too easy to fall behind on car payments and find yourself with a collections entry on your credit report.
Whether you simply forgot to pay your bill or you’re dealing with financial hardship, you could be contacted by a collections agency like Autovest LLC.
When your debt goes into collections, it can have serious repercussions for your credit score and add unnecessary anxiety to your life.
Fortunately, getting a collections account off your credit report is easier than you might expect.
Below, we’ll give you a better idea of who Autovest is and show you how to get them deleted from your credit report.
What Is Autovest LLC?
Unfamiliar with the name Autovest LLC? You can rest assured knowing Autovest is a legitimate company.
The collections agency has been around since 2003, collecting on automobile debts across the country.
According to its website, the agency holds over $1.7 billion of consumer auto debt, purchased from banks and auto financiers.
You can reach Autovest at the address below:
26261 Evergreen Rd Ste 390
Southfield, MI 48076
How Does Autovest LLC Work?
When lenders and service providers are unable to reach you and you fail to make a payment on your account, they eventually turn over your debt to a collections agency like Autovest.
While some agencies are paid to assist the companies in collecting debts, Autovest purchases the debts outright.
Once the agency owns your debt, it gets reported to one, two, or all of the major credit bureaus.
A collections entry is added to your report, where it stays for seven years unless you get it removed.
Collections entries may only lower your score slightly depending on your overall credit use and other factors, or it can do significant damage.
This type of entry can bring down your payment history, which accounts for 35% of your credit profile.
In addition to bringing down your credit score, a collections account means you’ll get frequent phone calls, robocalls, and letters from the agency until payment is made.
But don’t pick up the phone or log in to the Autovest website to make a payment just yet, because simply making a payment won’t lead to the collection account’s deletion from your report.
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How to Deal with Autovest LLC
Like most debt collectors, Autovest has its share of negative reviews from consumers, including complaints filed with the Consumer Financial Protection Bureau and the Better Business Bureau.
Some complaints are concerned with the agency’s failure to respond to requests for debt validation and their faulty reporting.
In light of those complaints, it’s important to understand the rights granted to you by the Fair Debt Collection Practices Act.
The FDCPA keeps debt collectors from harassing you and seeks to ensure accurate reporting.
Here are a few specific protections offered by the FDCPA:
- Debt collectors can’t talk to other people about your debt.
- They may not call you outside of 8 a.m. to 9 p.m.
- Agencies must provide validation of debts if requested within 30 days.
- You may choose a preferred method of communication.
The last provision is an important one. For the best results, you should always communicate with Autovest in writing.
That way, you’ll have the documentation you need to get Autovest off your credit report.
3 Ways to Remove Autovest LLC from Your Credit Report
Ready to say goodbye to Autovest LLC?
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Below are three strategies that can help you with removing the collections account from your credit report.
- Send a debt validation letter
- Negotiate a payment
- Pay for professional help
1. Send a Debt Validation Letter
According to the Fair Debt Collection Practices Act, you can request more information about the debt a collections agency is seeking to collect on.
If you submit a debt validation letter within 30 days of being contacted by Autovest, they are legally required to furnish you with proof of your debt.
That might include your auto lender’s name, your account number, and dates surrounding your payment history.
If you’ve never fallen behind on car payments and Autovest’s entry on your credit report came as a surprise, you may be a victim of identity theft or simply the subject of a reporting error.
In both cases, you should send a debt validation letter to get to the bottom of the issue.
But individuals with legitimate debt may find this strategy to be successful, too.
Debt collection agencies, especially third-party entities like Autovest LLC don’t always retain the documentation they need to validate your debt.
Without proof of your debt, they would have no choice but to cease their collection attempts.
That would not only put an end to their calls and letters, but it would also result in the immediate deletion of the entry from your credit report.
Submitting a debt validation letter couldn’t be easier, and it could solve your collections issues without costing you more than an envelope and postage.
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2. Negotiate a Payment
If it’s too late to send a debt validation letter, or the agency was able to validate your debt, you should try arranging a pay-for-delete agreement.
Remember that paying the full amount you owe Autovest will not lead to its removal from your credit report.
Instead, you need to offer to pay the agency to get the negative entry deleted from your report.
Their consent is key here. The best part of a pay-for-delete is that you might be able to get Autovest to settle for less than what you owe them.
Try negotiating to pay 30 to 50% of your account balance, and you could walk away debt-free without paying all of what you owe.
For this strategy to work, you should negotiate with Autovest in writing. If you get someone to agree to accept your payment in exchange for a deletion over the phone, there may not be any proof of your arrangement.
A letter gives you clear-cut documentation to see your case through. If you aren’t already, sign up for free credit monitoring and track your score in the weeks following your payment.
Your report should be updated within a month’s time. If it isn’t, you should send the agency and potentially the credit bureaus a letter following up on the situation.
3. Pay for Professional Help
Dealing with debt collection agencies can sometimes be an unpleasant experience. At the very least, it’s time-consuming.
If you’d rather leave it to someone else, a credit repair company could be well worth the cost.
These companies are staffed with experts who will evaluate every aspect of your credit to see what areas need improvement.
Then, they’ll create a plan and actively work to get your score up.
That includes disputing inaccurate reporting and negotiating with collections agencies like Autovest.
They can tackle a number of challenging credit problems, like:
- Hard inquiries
- Identity theft
Many of these companies offer multiple levels of service at different price points so you can choose a package that fits your budget and your needs.
If your score could use a lift and you don’t know where to begin, give one of our top credit repair companies a try.
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