How To Remove Stellar Recovery Inc From Your Credit Report
Your credit score has more of an impact on your life than you might realize, often acting as the deciding factor when you want to buy a house, purchase a car with financing, or get a student loan.
And unfortunately, something as simple as forgetting to pay a single bill can hurt your credit for years if it reaches the collections stage.
If Resurgent Capital Services is on your credit report as a collections entry, it’s important to get them deleted, ASAP.
In the guide below, we’ll show you the ins and outs of dealing with debt collectors and provide you with a few surefire strategies for getting RCS off your report.
What Is Resurgent Capital Services?
Wondering exactly what Resurgent Capital Services is?
While it appears as a collections account on your credit report, RCS is a third-party debt collection agency, and it’s completely legit.
RCS has been in business since 1998. Part of the Sherman Financial Group headquartered in Greenville, SC, with offices in Cincinnati, Ohio, as well.
If you need to contact Resurgent, you should write to them at the address below:
55 Beattie Pl, Ste 110
Greenville, SC 29601
Resurgent collects on a variety of consumer debts, such as credit card and medical debts.
How Does Resurgent Capital Services Work?
Oftentimes, debt collection agencies work for companies to help them collect unpaid bills.
In other instances, they buy debts from companies that provide services or funding, at a low rate.
In both cases, the agency has the right to call you frequently and mail you letters regarding the debt until it gets paid.
Worse than the repetitive phone calls, collections-stage debt results in a collections entry on your credit report.
This kind of entry hurts your payment history and can continue to do damage to your score for seven years.
How much this kind of entry lowers your score depends on the amount of debt you owe, how long it has been in collections, and whether or not you have multiple negative entries.
3 Ways to Remove Resurgent Capital Services from Your Credit Report
Here are a few pointers to help you get the collections agency deleted from your credit report:
- Ask for proof of the debt
- Arrange a pay-for-delete agreement
- Pay for a credit repair service
1. Ask for Proof of the Debt
A great feature of the FDCPA?
As long as you contact RCS within 30 days of them first contacting you, you can ask for validation of your debt.
By law, they’re required to give you details about your debt, like your original lender’s name and your old account number.
Getting your debt verified can be simple with a debt validation letter template.
If you think you’re on RCS’s list in error, you should start with this approach. But it’s a wise choice for individuals who do owe money, too.
When third-party debt collectors obtain consumer debts, they don’t always maintain the documentation they need.
So there’s a good chance your debt could be dismissed even if it’s legit, and all you have to do is mail in a letter.
In that case, RCS will stop calling and writing to you, and they’ll report the error to the credit bureaus, resulting in the deletion of the negative entry.
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2. Arrange a Pay-for-delete Agreement
Debt validation won’t work if you:
- Don’t submit a letter asking for verification within 30 days.
- Receive validation from the agency.
If you fail at getting the agency off your report for free, you may be able to do so at a low cost with what’s called a pay-for-delete agreement.
In this arrangement, you negotiate with the agency, agreeing to pay a certain amount of what you owe to get them to have your collections entry deleted.
There’s a high likelihood that RCS will accept less than the full amount you owe them. You could negotiate to pay between 30 and 50% of what you owe, depending on the specifics of your case.
Since debt collectors buy your debt at deeply discounted rates to begin with, they’ll still profit when you pay a lower amount.
Once again, remember to communicate with RCS in writing.
That way, you’ll be able to easily provide the details of your arrangement if there are any hiccups getting the agency off your report once you make payment.
You should see the entry dropped quickly once you’ve made an acceptable payment.
If it’s still there in 30 days, remind RCS of your agreement and make sure that they follow through on having it removed.
3. Pay for a Credit Repair Service
The strategies above are easy enough, but you don’t necessarily have to confront RCS by yourself.
If you’re stressed out at the thought of dealing with the agency on your own, you might want to look into hiring a credit repair company.
They can handle everything from top to bottom, ensuring the agency adheres to the guidelines of the FDCPA and getting them deleted from your report.
More importantly, they can help you get to the bottom of your more complicated credit problems, whether you have a slew of late payments, you’re recovering from bankruptcy, or there are judgments against you.
Check one of our best credit repair companies to find the right fit.
They’ll help you get your credit score where it needs to be quick, with minimal effort required on your part.
Whether you work with a credit repair company or tackle collections on your report yourself, don’t let RCS bring your score down another day.
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Dealing with Resurgent Capital Services
Before you attempt to confront RCS, it’s important to understand the basics of the Fair Debt Collection Practices Act.
This act keeps debt collectors from using harassing collection practices and helps to protect you against inaccurate reporting.
Here are a few examples of how the FDCPA protects you:
- Debt collectors are restricted from threatening you or using inappropriate language.
- Collections agencies cannot call you outside the hours of 8 a.m. to 9 p.m.
- Debt collectors are never allowed to disclose details about your debt to other people.
- If you request it, debt collectors may not call you while you are at work.
- You may only communicate with debt collectors in writing if you prefer to.
The last guideline of the FDCPA mentioned here is the key to getting RCS off your credit report. You should always opt to communicate with debt collectors in writing.
All you need to do is write RCS and inform them that you wish to stop receiving calls and only want to correspond by mail.
It’s important to document your conversations with RCS in case you ever need to take legal action against the agency. It will also help with getting them off your report.
To get an idea of how consumers feel about their interactions with RCS, you should look to their BBB and Consumer Financial Protection Bureau complaints.
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