How To Remove Account Resolution Services (ARS) From Your Credit Report
Is Credence Resource Management, LLC, contacting you about unpaid debts?
Whether you’ve seen this name on your phone, in a letter, or on your credit report, you might be wondering how to proceed.
The longer you avoid a debt collection agency like Credence, the more damage the agency can do to your credit score.
In the guide below, we’ll walk you through some simple steps to get Credence Resource Management removed from your credit report and your recent calls list.
Table of Contents:
- About Credence Resource Management
- How They Work
- Steps To Remove Credence Resource Management From Your Credit Report
- Your Consumer Rights
- Should I Hire a Credit Repair Company?
What Is Credence Resource Management?
Credence Resource Management, LLC, is a debt collection agency that was founded in Nevada in 2013, with its current headquarters in Dallas, Texas. It also has a presence in Washington State and California, and in Pune, India.
Over the years, Credence has collected a lot of debt, earning a profit of $5 million last year.
In addition to Credence Resource Management, LLC, the agency might appear on your credit report under the following names:
- Credence Collections
- Credence Resource Management AT&T
- Credence RM
How Does Credence Resource Management Work?
Credence and other debt collection agencies like it, are third-party companies that purchase outstanding debts for a fraction of their worth.
Once CRM purchases the debt, it is legally allowed to seek repayment, continuously contacting individuals by phone, email, and mail until the debt is paid or an agreement is reached.
Credence collects for several major companies in the following industries:
Most commonly, Credence collects for popular telecom providers of cable, satellite, and mobile services like AT&T and DirectTV.
Unless you come to an agreement with CRM, the account and its damaging effects can remain on your credit report for up to seven years.
That’s why it’s so important to act quickly to resolve the situation if CRM makes its way onto your credit report.
How to Deal With Credence Resource Management
The agency is no stranger to consumer complaints, racking up several hundred complaints filed with the Better Business Bureau and the Consumer Financial Protection Bureau.
In fact, some of the most commonly cited complaints deal with Credence’s lack of response to requests for debt verification.
Also, others cited that Credence did not remove the collection from their credit reports after the creditor negotiated an agreement with them.
The best way to avoid this type of encounter with Credence is to communicate with the agency in writing only.
The Fair Debt Collection Practices Act provides several protections from collection agencies, so it is important to know your rights.
Let Credence know you are aware of your rights under the FDCPA and choose to communicate only through letters. No matter how much the agent pleads, don’t make a payment over the phone without a written agreement in your hand first.
That way, all of your negotiations are well-documented in case you need to contest something or Credence seeks any legal action against you.
How to Remove Credence Resource Management from Your Credit Report
Credence Resource Management’s constant calls and messages can seem overwhelming, but negotiating with CRM doesn’t have to be complicated.
Take these basic steps:
- Write a debt validation letter
- Negotiate a payment with Credence
- Get help from a professional
With the steps below, you can put a stop to the phone calls, settle your account, and improve your credit score.
1. Send a Debt Validation Letter
Under the Fair Debt Collection Practices Act, you can send a letter to Credence asking it to validate the debt the collection agency wants you to pay.
Since Credence is a third-party agency, as opposed to the company you originally owed the money to, there’s a chance the company does not have substantial validation on file.
If that’s the case, they’ll be required to remove the collection account from your credit report and withdraw their requests for payment.
It’s also possible that Credence got your contact information by mistake or that an error put them on your credit report.
Just note this method will work only if you send the letter within 30 days of Credence’s first contact with you about the debt.
If it’s been over a month since Credence appeared on your credit report and contacted you, you will likely have to try out the other options listed below.
2. Negotiate a Partial Payment with Credence Resource Management
If your debt validation letter fails or you missed the 30-day window to contest your debt, it may be time to negotiate a payment with Credence.
Debt collection agencies purchase debt for extremely low rates, so even a partial payment on your part could be profitable to Credence.
So, your next best bet is to try to bargain with Credence to get this account removed from your credit profile while simultaneously ending the company’s collection activities against you.
Offering to pay half the amount you owe is a solid place to start. Even if your outstanding cable bill was $200, you may be able to get off paying a fraction of the cost.
Again, be sure your negotiations with a creditor are documented in writing. Once you’ve paid the amount agreed upon, you should see the account dropped from your credit report.
If it’s still there after 30 days, you should follow up with another letter to Credence.
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3. Get Help from a Credit Repair Professional
Going back and forth with a debt collection agency is time-consuming, and dealing with repetitive phone calls from the company can be a nuisance.
If you prefer to skip the headache of dealing with Credence Resource Management, you may want to consider hiring a credit repair company to help.
There are a handful of excellent companies that dispute claims, seek debt validation, and get a collection removed from your account.
Lexington Law is one of the top credit repair companies, one that can settle your issues with Credence quickly and efficiently.
They’re expertly trained to deal with debt collectors and get you results.
Whatever method you decide on, you should take action today to get Credence Resource Management removed from your credit report.
Doing so can stop Credence’s calls and its effects on your credit score.
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Do I Have to Pay Credence Resource Management?
For some people it’s human nature to ignore disturbing and annoying problems like third-party debt collectors putting your phone number on their speed dial.
They think the problem will eventually go away on its own without the uncomfortable conversations. In a way they’re right. The debt will go away. Eventually.
Between now and then, however, you’ll have a harder time getting good credit card interest rates, taking out an affordable car loan, or buying or refinancing your house.
A third party collection account on your credit report can knock a big hole in your credit history. The better your credit, the more you have to lose.
If you owe the debt and can pay it, then paying off the collection company is your best bet. However, if you don’t owe the debt, get started right away writing validation letters, as described above in Step 1.
If you owe the debt but can’t afford to pay off the balance, see Step 2 above to negotiate a settlement. Once again, be sure you’re getting the terms of your agreement in writing.
Many of the Credence Resource Management complaints filed with the BBB stem from disagreements about the terms of a settlement.
What Are My Consumer Rights with CRM?
The Fair Credit Reporting Act, passed in 1970, regulates the way credit reporting agencies collect information. As a consumer you have the right to see your credit report, for example.
When you’re dealing with a debt collection agency such as CRM, the Fair Debt Collection Practices Act, as amended in 2010, will be a more powerful tool.
Because of this act you can tell CRM how and when to communicate with you. You can ask for all phone calls, including robocalls, to stop.
You can ask for written communication only, which we highly recommend!
If CRM violates your rights under the FDCPA, you could be entitled to $1,000 in fines per violation. You’d probably have to hire an attorney, and spend a lot of money on court proceedings, to claim this fine, however.
Just by citing the FDCPA you’re telling Credence Resource Management you know your consumer rights and that you won’t stand for being intimidated or harassed.
You can also mention the Consumer Financial Protection Bureau which enforces the FDCPA and FCRA.
Is Credence Resource Management a Scam?
Credence Resource Management is not a scam.
If you’re hearing from CRM it’s because the agency believes you owe it money. Chances are CRM bought some old debt from an account you’d forgotten about or just couldn’t afford to pay.
Your original debtor, whether it was AT&T, DirectTV, a local utilities company, or some other service provider, sold your debt to CRM, and now the company wants to collect the money from you.
Just because Credence is legit doesn’t mean your debt is. Often, these third-party debt collectors get inaccurate information when they buy debt. Your first step, when you hear from CRM, is to validate the debt.
We recommend writing a debt validation letter within the first week of CRM’s appearance on your credit report or its first contact with you.
- Send your letter to:
- Credence Resource Management LLC
17000 Dallas Parkway Suite 204
Dallas, TX 75248-1940
- Credence Resource Management LLC
- Visit the company’s website at: credencerm.com
- Call the company’s toll-free number (if necessary): (855) 880-4792
The Covid-19 pandemic has changed some of CRM’s call center operations so you can expect to stay on hold longer than usual. Yet another reason to write this company instead of calling.
Will Credence Resource Management Sue Me?
Debt collections agencies can sue you for the collection of a debt, however, each state’s statute of limitations puts a deadline on CRM’s ability to successfully sue you.
If you do get sued, you could have the case dismissed without even calling a law firm if the debt’s statute of limitations has expired. Learn more about these statutes here.
But just because a debt falls outside the statute doesn’t mean you shouldn’t pay it. It just means that a judge cannot force you to do so.
Legal action has no bearing on your debt’s ability to harm your credit score. Most of the time it would take seven years for a debt to disappear from your credit history whether or not you can be sued.
Should I Hire a Credit Repair Company?
We mentioned getting professional help in Step 3 above. Professional credit repair companies such as Lexington Law Firm and Credit Saint can help you get CRM off your credit report.
These companies charge a monthly fee plus an initial set-up fee, and in return, they do the leg work for you.
They don’t have any magic formula. These companies will be doing the same thing we recommended above: validating your debt, negotiating with your debtors, and following up to make sure your credit report reflects the agreement.
For many people with collection accounts on their record — especially when the account isn’t valid — a credit repair company can save a lot of time and even money.
If you’re willing to share your sensitive personal information, especially details about your financial life, you may want to hire this kind of professional help.
Like we said above, Credit Saint is one of the best credit repair companies in the United States.
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