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How to Remove Accelerated Receivables Solutions From Your Credit Report

Last updated 07/03/2024 by

Silas Bamigbola

Edited by

Fact checked by

Summary:
Accelerated Receivables Solutions is a debt collection agency that may appear on your credit report if they are attempting to collect a debt from you. This article explores who they are, how they operate, and what steps you can take to handle their collection activities effectively.
Accelerated Receivables Solutions is a debt collection agency that might appear on your credit report. Dealing with debt collectors can be stressful and confusing, especially when your credit score is at stake. In this article, we will explore who Accelerated Receivables Solutions collects for, how their actions can impact your credit score, and the steps you can take to manage their collections effectively.

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Who does Accelerated Receivables Solutions collect for?

Accelerated Receivables Solutions collects debts on behalf of various creditors, primarily in the healthcare sector, including hospitals and medical facilities. They may either purchase the debt from the original creditor for a fraction of its value or be hired to collect on behalf of the creditor. This means they could contact you via mail or phone, demanding payment for the debt they are collecting.

How does this impact you?

When Accelerated Receivables Solutions reports a collection account on your credit report, it can severely impact your credit score. Collections accounts are considered derogatory marks and can reduce your chances of being approved for loans or other financial products. Understanding your rights and the steps you can take to address these collections is crucial.

Does Accelerated Receivables Solutions hurt my credit score?

Yes, having a collections account from Accelerated Receivables Solutions on your credit report can significantly hurt your credit score. According to the Fair Credit Reporting Act (FCRA), collections accounts can remain on your credit report for up to seven years from the date of the first delinquency. This derogatory mark can lower your credit score, making it harder to obtain credit or loans.

Pro Tip

Regularly monitor your credit report to identify any collections accounts early. This can help you address errors and take action before they severely impact your credit score.

How do I remove Accelerated Receivables Solutions from my credit report?

Removing a collections account from Accelerated Receivables Solutions from your credit report can be challenging but not impossible. Here are some steps you can take:

Verify the debt

First, request a debt validation letter from Accelerated Receivables Solutions. This letter should provide details about the debt they are attempting to collect, including the original creditor, the amount owed, and any interest or fees added.

Dispute inaccuracies

If you find any inaccuracies or errors in the debt details, you can dispute the account with the credit bureau. According to a study by the U.S. Public Interest Research Group (PIRG), 79% of credit reports contain errors. Disputing these errors can lead to the removal of the collection account.

Negotiate a pay-for-delete agreement

Although it’s not common, some collection agencies may agree to remove the collection account from your credit report in exchange for payment. This is known as a pay-for-delete agreement. Ensure you get this agreement in writing before making any payments.

Seek professional help

If you find the process overwhelming, consider seeking help from a credit repair company. They specialize in dealing with collections and can guide you through the process of disputing and potentially removing the account.

Is Accelerated Receivables Solutions a legitimate company?

Yes, Accelerated Receivables Solutions is a legitimate debt collection agency. They follow the regulations set forth by the Fair Debt Collection Practices Act (FDCPA). However, it’s essential to stay vigilant as debt collectors sometimes use aggressive tactics that can feel harassing.

Pro Tip

If you feel harassed by debt collectors, know that you have rights under the FDCPA. You can request that they only contact you in writing and report any violations to the Consumer Financial Protection Bureau (CFPB).

Should I pay for delete with Accelerated Receivables Solutions?

Paying a debt to have it removed from your credit report might seem ideal, but there are caveats. Paying off a collection changes its status from ‘unpaid’ to ‘paid,’ but the account will still appear on your credit report for seven years from the date of the first delinquency. This means your credit score may still be affected.

Alternatives to paying for delete

  • Negotiate a settlement: While it may not remove the account from your credit report, settling the debt can stop further collection activities and reduce the amount you owe.
  • Wait for the statute of limitations: In some states, the statute of limitations on debt can expire, making it unenforceable. Check your state’s laws to see if this applies to you.

Request all correspondence in writing

Ensure a documented record of communications with Accelerated Receivables Solutions by requesting written correspondence. This can help you keep track of all interactions and provide evidence if disputes arise. Contact Accelerated Receivables Solutions at the following address:
Accelerated Receivables Solutions contact information
2223 Broadway, Scottsbluff, NE 69361
PO Box 70, Scottsbluff, NE 69363-0070
+1 (308) 632-7135

How to file a complaint against them

If you believe Accelerated Receivables Solutions has violated your rights or engaged in unfair practices, you can file a complaint with the appropriate authorities. Here are some steps to file a complaint:
  • Consumer Financial Protection Bureau (CFPB): Visit the CFPB website and submit your complaint online. The CFPB will review your complaint and take appropriate action.
  • Federal Trade Commission (FTC): You can file a complaint with the FTC through their website. The FTC monitors debt collection practices and can investigate claims of unfair practices.
  • State Attorney General: Contact your state’s Attorney General’s office to file a complaint. They can provide guidance on state-specific laws and regulations.

Understanding the Fair Debt Collection Practices Act (FDCPA)

The FDCPA is a federal law that protects consumers from abusive and unfair debt collection practices. It outlines your rights when dealing with debt collectors and sets guidelines for their behavior. Knowing your rights under the FDCPA can help you manage interactions with Accelerated Receivables Solutions effectively

Understanding the Fair Debt Collection Practices Act (FDCPA)

The FDCPA is a federal law that protects consumers from abusive and unfair debt collection practices. It outlines your rights when dealing with debt collectors and sets guidelines for their behavior. Knowing your rights under the FDCPA can help you manage interactions with Accelerated Receivables Solutions effectively.

Steps to take if you are sued by Accelerated Receivables Solutions

If Accelerated Receivables Solutions files a lawsuit against you, it’s important to take immediate action. Here are some steps to follow:
  • Do not ignore the lawsuit: Respond to the summons and complaint within the specified timeframe.
  • Consult an attorney: Seek legal advice to understand your options and build a defense.
  • Gather evidence: Collect all relevant documents and records related to the debt and your communications with Accelerated Receivables Solutions.

Tips for negotiating with debt collectors

Negotiating with debt collectors like Accelerated Receivables Solutions can help you manage your debt more effectively. Here are some tips for successful negotiations:
  • Know your rights: Understand the FDCPA and your rights as a consumer.
  • Be prepared: Have all your financial information and documentation ready before you start negotiations.
  • Stay calm and professional: Keep the conversation respectful and focused on finding a resolution.

Conclusion

Dealing with Accelerated Receivables Solutions can be challenging, but understanding your rights and options can help you manage the situation effectively. By verifying the debt, disputing inaccuracies, and considering professional help, you can address their collections activities and work towards improving your credit score. Remember, staying informed and proactive is key to handling debt collections successfully.
If you need assistance, don’t hesitate to reach out to credit repair professionals who can guide you through the process and help you navigate the complexities of dealing with debt collectors.

Frequently asked questions

Is Accelerated Receivables Solutions a scam?

No, Accelerated Receivables Solutions is a legitimate company. However, they may use persistent and sometimes aggressive tactics to collect debts. It’s important to know your rights and how to handle their calls.

Can Accelerated Receivables Solutions garnish my wages?

While it is uncommon, Accelerated Receivables Solutions can garnish your wages if they obtain a court judgment against you. However, this is rare, and there are legal protections in place to limit wage garnishment.

What should I do if Accelerated Receivables Solutions contacts me?

If Accelerated Receivables Solutions contacts you, it’s essential to remain calm and not make any hasty decisions. Request a debt validation letter, review the details, and consider your options, including disputing the debt or negotiating a settlement.

Does Accelerated Receivables Solutions accept goodwill letters?

In general, Accelerated Receivables Solutions does not accept goodwill letters to remove collections accounts. Most collection agencies follow this practice, focusing instead on legal obligations and formal disputes.

Key takeaways

  • Accelerated Receivables Solutions is a legitimate debt collection agency.
  • Collections accounts can significantly impact your credit score.
  • You have rights under the FDCPA and FCRA to dispute and validate debts.
  • Consider seeking professional help if dealing with collections is overwhelming.

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