How To Remove Reliant Capital Solutions From Your Credit Report
If you have been contacted by a company called Professional Finance Company, you are probably being pursued for an old unpaid debt.
This can make for unpleasant interactions with creditors and constant harassment for payment.
Having a collection account on your credit report for an unpaid debt can damage your credit score for up to seven years, even after you pay it.
This can impact your ability to qualify for loans or apply for credit cards.
To improve your credit, you will need to handle the Professional Finance Company collection promptly and remove their entry from your credit report for good.
Check out our full article to learn more about Professional Finance Company and how to get them off your back for good.
Keep in mind this article is not meant to substitute legal advice. Please seek a law firm like Lexington Law for legal counsel.
What is Professional Finance Company?
Originally founded in 1985, Professional Finance Company is a medium-sized debt collection agency that offers services for debt recovery, self-pay early-out, and debt purchasing.
This United States company is a legitimate company and is currently headquartered in Greeley, CO in Northern Colorado. They collect debts on behalf of a variety of industries such as original creditors like consumer retail lenders, financial service organizations, government agencies, and healthcare providers.
Here is their contact information:
- Address: 5754 West 11th Street Ste 100, Greeley, CO 80634 (also 5745 W 11th St Ste 100)
- Phone Number: (970) 352-5000 and Toll free: 800-864-4391
Although they are a legitimate company and not a scam, Professional Finance Company is not popular with their customers. They also are known by a few other names:
- Professional Finance Company, Inc.
- ACA International
They currently have nearly 252 complaints filed against them with the Consumer Financial Protection Bureau (CFPB) and 23 complaints filed with the Better Business Bureau (BBB).
These complaints are usually due to inaccurate credit reporting or failing to respond to debt verification requests.
Steps to Remove Professional Finance Company From Your Credit Report
Even if you pay off your debts with Professional Finance Company, you’ll still be left with a collection report on your account.
This means that your debt will continue to impact your credit score by the three credit bureaus unless the entry is removed entirely.
If you would like to remove the Professional Finance Company entry from your credit report, follow the steps below.
- Understand Your Rights
- Request a Goodwill Adjustment
- Request Debt Validation
- Hire a Professional
Understand Your Rights
The Fair Debt Collection Practices Act (FDCPA) is a piece of federal legislation that prevents debt collectors from harassing or abusing their customers.
It also allows customers to view the information in their credit report and dispute any information that is inaccurate.
How to Remove Credit Control Corp From Your Credit
Some of the actions that are forbidden under the FDCPA are:
- Contact you before 8 a.m. or after 9 p.m.
- Contact you at work or at a time that you have said is inconvenient
- Contact your family, friends, or employer regarding your debt
- Use harassing or abusive language
- Threaten legal action that they can’t or won’t take
- Misrepresent themselves when contacting you
- Misrepresent information regarding your debt
If Professional Finance Company does any of the above when contacting you regarding your debt, tell them that they are in violation of the FDCPA and hang up.
It is essential that you understand your rights under the FDCPA when you begin dealing with Professional Finance Company. Arming yourself with this knowledge can help you as you begin negotiating details of your debt and credit entry.
Request a Goodwill Adjustment
Once you familiarize yourself with your rights under the FDCPA, you should request a goodwill deletion from Professional Finance Company. This is only really an option if you have already paid off the debt and would like the entry removed after the fact.
A goodwill letter is essentially a letter explaining why you were late on your payments and why it is essential that the collection account be removed from your report. A good example of a reason for a goodwill deletion is if you are trying to buy a house but can’t get a loan due to the collection account.
If your situation merits it and you ask nicely, Professional Finance Company may remove the account out of goodwill. It will also help if you have a record of making payments on time since the debt was paid off.
If you are unsure about how to write a goodwill deletion letter, I have got you covered. Here is my sample letter template to write an effective goodwill letter.
Request Debt Validation
If you fail to get a goodwill deletion from Professional Finance Company, your next option would be to get the entry deleted on a technicality. This means that you will need to request debt validation to find out if Professional Finance Company has any incorrect information about your debt.
The debt collection process is not perfect. A lot of information can get lost in transition from the original credit to the debt collector. Under the FDCPA, you have the right to request that the collection agency, in this case Professional Finance Company, verify the information associated with your debt. You need to send a debt validation letter to Professional Finance Company within 30 days of their first contact with you otherwise they may ignore your request.
You can also dispute the collection with the credit agency with the advanced dispute method. For this to work, you will need to review a current copy of your credit report. Look closely at the Professional Finance Company entry and note any inaccuracies about your debt. This can include the balance, account number, date opened or closed, account or payment status, or any other information that appears inaccurate.
If you find any information that is incorrect, you can write an advanced credit dispute letter to demand that the collection be removed. This makes it more difficult for the credit agency to verify the collection, and this may cause them to remove the collection entirely.
Get a Free Copy of Your Credit Report
Hire a Professional
Some of us don’t have time to handle the back-and-forth of negotiating with collection agencies. This is where credit repair professionals can help. They can help with questions like:
- Will and can PFC sue me?
- I think PFC placed erroneous delinquent accounts on my credit report. What can I do?
Credit repair companies handle this process for you so that you can leave the negotiations in their capable hands.
One of the best credit repair professionals out there is Credit Saint. They can get the unwanted entries on your credit report removed quickly.
This can prevent many headaches on your end.
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Dealing with Professional Finance Company
The process of removing a collections account from your credit report isn’t easy, but it is certainly worth it.
By taking care of it early, you can prevent extensive damage to your credit score.
Check out some of our popular articles for more information on how to improve your credit score and clean up your credit report, especially after Covid-19.
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