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How to Remove Absolute Resolutions Investments LLC From your Credit Report

Last updated 07/03/2024 by

Silas Bamigbola

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Fact checked by

Summary:
Absolute Resolutions Investments LLC is a debt collection agency that purchases and collects delinquent debts from original creditors. This article explores how they operate, how they impact your credit score, and ways to deal with their collection attempts. Learn how to potentially remove their entries from your credit report and what your rights are when dealing with them.

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What is Absolute Resolutions Investments LLC?

Absolute Resolutions Investments LLC (ARI) is a debt collection agency that specializes in buying charged-off debts from original creditors, such as credit card companies, loan providers, and other financial institutions. They purchase these debts at a fraction of their original value and then attempt to collect the full amount from the debtor. ARI operates across the United States, and their primary goal is to recover as much of the outstanding debt as possible.

How does Absolute Resolutions Investments LLC affect your credit report?

When ARI purchases a debt, they often report it to the major credit bureaus as a collection account. This can significantly impact your credit score, as collection accounts are considered highly negative marks. A single collection account can lower your credit score by several points and remain on your report for up to seven years from the date of the first delinquency. This can make it difficult to obtain new credit, secure loans, or even get favorable interest rates.

How to deal with Absolute Resolutions Investments LLC

Verifying the debt

Before taking any action, it’s crucial to verify that the debt ARI is trying to collect is indeed yours and that the amount is accurate. Under the Fair Debt Collection Practices Act (FDCPA), you have the right to request a debt validation letter from ARI. This letter should provide details about the original creditor, the amount owed, and proof that ARI has the right to collect the debt. If ARI cannot provide this information, they must cease collection efforts.

Disputing incorrect information

According to the U.S. Public Interest Research Group (PIRG), nearly 79% of credit reports contain errors. If you find any inaccuracies in the debt ARI is reporting, you can dispute it with the credit bureaus. Under the Fair Credit Reporting Act (FCRA), the bureaus are required to investigate your dispute and correct any errors within 30 days. Providing documentation that supports your claim can increase the chances of a successful dispute.

Negotiating a settlement

If the debt is valid, negotiating a settlement with ARI might be an option. You can offer to pay a portion of the debt in exchange for ARI reporting the account as “settled” or “paid” to the credit bureaus. While this will not remove the account from your report, it can improve your credit standing by showing that you’ve addressed the debt. Be sure to get any settlement agreement in writing before making a payment.

Requesting a pay-for-delete agreement

A pay-for-delete agreement involves you paying off the debt in full or partially in exchange for ARI removing the collection account from your credit report. This approach is not always successful, as not all collection agencies agree to such terms. However, it can be worth attempting, especially if you’re close to qualifying for a significant financial milestone like a mortgage or auto loan. Ensure that any agreement is documented in writing.

Request all correspondence in writing

Ensure a documented record of communications with Absolute Resolutions Investments LLC by requesting written correspondence. This will help you keep track of all interactions and provide evidence if there are any disputes. Contact Absolute Resolutions Investments LLC at the following address:
Absolute Resolutions Investments LLC contact information
8000 Norman Center Dr #350, Bloomington, MN 55437
+1 800-713-0670

How to file a complaint against Absolute Resolutions Investments LLC

If you believe that Absolute Resolutions Investments LLC has violated your rights under the Fair Debt Collection Practices Act (FDCPA) or any other law, you can file a complaint with the appropriate authorities. Here’s how you can do it:

File a complaint with the Consumer Financial Protection Bureau (CFPB)

The CFPB is a government agency that ensures fair treatment of consumers by financial institutions. You can file a complaint online through their website.
CFPB contact information
Submit a Complaint
Phone: +1 855-411-2372

Report to the Federal Trade Commission (FTC)

The FTC oversees debt collection practices and enforces the FDCPA. You can report any violations directly to them.
FTC contact information
Submit a Complaint
Phone: +1 877-382-4357

Contact your state Attorney General’s office

Your state’s Attorney General can also assist with debt collection complaints. Visit your state’s Attorney General’s website for more information on how to file a complaint.
State Attorney General contact information
Visit National Association of Attorneys General to find your state’s contact details.

Understanding your credit report

It’s essential to regularly review your credit report to ensure all information is accurate. Learn how to obtain your free credit report and what to look for when reviewing it.

The impact of collection accounts on your credit score

Collection accounts can have a significant impact on your credit score. When a debt is sent to collections, it indicates to lenders that you have struggled to manage your debt. This can lower your credit score and make it more challenging to obtain new credit or loans. Collection accounts can remain on your credit report for up to seven years from the date of the first delinquency. However, their impact on your score will diminish over time, especially if you maintain good credit habits.

Steps to improve your credit score after dealing with Absolute Resolutions Investments LLC

After resolving issues with ARI, focus on rebuilding your credit. Here are some practical steps to improve your credit score:

Make timely payments

Ensure all your bills and debts are paid on time. Timely payments have a positive impact on your credit score.

Reduce your debt

Work on paying down existing debt to lower your credit utilization ratio. A lower ratio positively affects your credit score.

Monitor your credit report

Regularly check your credit report for any new inaccuracies or issues. Early detection and correction can prevent future problems.

Frequently asked questions

What is Absolute Resolutions Investments LLC?

Absolute Resolutions Investments LLC is a debt collection agency that buys and collects delinquent debts from original creditors. They purchase these debts at a fraction of their original value and attempt to collect the full amount from the debtor.

How do I remove Absolute Resolutions Investments LLC from my credit report?

You can try disputing inaccuracies, negotiating a settlement, or requesting a pay-for-delete agreement. Professional help from a credit repair company can also be beneficial.

Is Absolute Resolutions Investments LLC legitimate?

Yes, they are a legitimate debt collection agency. They purchase debts from original creditors and attempt to collect them. However, like many collection agencies, they may use aggressive tactics to recover debts.

Why does Absolute Resolutions Investments LLC keep calling me?

ARI will continue to call and send letters as part of their collection efforts until the debt is resolved. If their calls become harassing, you can request that they communicate with you only in writing, as allowed under the FDCPA.

What are my rights when dealing with Absolute Resolutions Investments LLC?

You are protected by the FDCPA and FCRA, which provide various rights, including disputing debts and requesting validation letters. You have the right to request a debt validation letter and dispute incorrect information on your credit report.

Key takeaways

  • Absolute Resolutions Investments LLC is a legitimate debt collection agency that purchases delinquent debts.
  • They can significantly impact your credit score by reporting collection accounts.
  • Verify any debt ARI claims you owe and dispute inaccuracies promptly.
  • Consider negotiating settlements or pay-for-delete agreements to improve your credit report.
  • You have rights under the FDCPA and FCRA when dealing with debt collectors like ARI.

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