Just as it’s important to know if you can get pre-approved without a hard inquiry, it’s important to understand Creditors Bureau USA collections.
Of course, when you need help navigating communication from collection agencies, Chicago credit repair services can help significantly.
What Is Creditors Bureau USA?
Creditors Bureau USA is a collections agency (also known as a debt collecting agency) based in California. It is also known as ‘Fresno Credit Bureau,’ and it collects debts for four industries, including:
- Commercial
- Laboratory
- Agriculture
- Healthcare
The bureau is responsible for collecting debts from borrowers when the original lending party fails to do so. For example, if you take a loan of $1,000 and fail to return it within the promised time, the lender’s first course of action would be to send you reminders, notifications, and warnings. Once they’ve exhausted their efforts, they’ll hire a third-party agency like Creditors Bureau USA to collect this amount from you. This agency will retrieve the amount from you on behalf of the lender.
Alternatively, your lender can sell your account to the bureau. The bureau will buy your account for a price less than the owed amount and retrieve the owed amount to keep for itself.
Creditors Bureau USA can approach you by phone, text, email, and mail, and can even contact your employer or visit you at your address. It may opt for wage garnishment, wherein your earnings will be withheld by your employer until your debt is clear. However, it cannot threaten, abuse, or harm you. If it does so, you can lodge a legal complaint against it.
Is Creditors Bureau USA a Scam?
No–Creditors Bureau USA is not a scam. It is a legitimate company, and you should contact it as soon as it reaches out to you.
Can Creditors Bureau USA Damage Your Credit Report?
Yes–a collection account can damage your credit score significantly, and it can stay on your credit report for seven years. Even if you pay the due amount immediately, your credit score will drop. The only way to get rid of a collections account on your credit report and restore your financial reputation is to get the help of a professional.
A professional credit repair expert, like those at The Phenix Group, can help you identify claims that could be unfair or inaccurate on your report. We can help you delete these claims or legally remove them without hurting your credit report.
Should You Contact Creditors Bureau USA Directly?
It’s not a good idea to contact the collections agency directly–it might not be very understanding of your circumstances and situation. A wiser approach is to contact it through a professional credit repair expert. The expert will settle the matter professionally and effectively by using a goodwill letter or factual data to support your claims.
Understanding Your Rights
When Creditors Bureau USA approaches you, you don’t need to panic. You have the complete right to question its claims. You can also demand evidence, and it is highly advisable to do so—misinformation is one of the most common complaints against Creditors Bureau USA.
Once you question its claims, the bureau will have thirty days to prove that you owe the quoted amount. If it fails to do so, you don’t have any debts, legally. If it provides evidence, you’ll have to either pay or approach a credit repair expert to find an alternate route.
In Summary
Creditors Bureau USA is a collections agency that operates like most other debt-collection agencies. It’s not easy to stand against Creditors Bureau USA on your own, but the experts at The Phenix Group can easily help.
Wondering what happens if you don’t reaffirm your mortgage? Take a look at our latest article.