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Get Accelerated Servicing Group Off your Credit Report

Last updated 07/03/2024 by

Silas Bamigbola

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Summary:
Accelerated Servicing Group is a debt collection agency that may appear on your credit report, potentially harming your credit score. This article explores who they are, their impact on your credit, and ways to handle and possibly remove their negative mark from your credit report.
Accelerated Servicing Group is a debt collector that might show up on your credit report, often leading to a dip in your credit score. Understanding who they are, how they operate, and what steps you can take to manage or remove their entries from your credit report is crucial. This guide delves into these aspects, providing you with detailed information and practical tips to protect your credit health.

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Who does Accelerated Servicing Group collect for?

Accelerated Servicing Group (ASG) is a debt collection agency that collects debts on behalf of various creditors. These creditors can include credit card companies, personal loan providers, and other financial institutions that have charged off debts. Sometimes, ASG purchases these debts for a fraction of their original value, seeking to collect the full amount from the debtor. Understanding the nature of ASG’s operations is the first step in dealing with them effectively.

Does Accelerated Servicing Group hurt my credit score?

Any account reported by a debt collection agency can significantly impact your credit score, especially if it is within the statute of limitations. The presence of a collections account, such as one from ASG, indicates to lenders that you have defaulted on a debt, making you a higher-risk borrower. This negative mark can lower your credit score, affecting your ability to obtain loans, mortgages, and even employment opportunities.

How do I remove Accelerated Servicing Group from my credit report?

Removing ASG from your credit report can be challenging but not impossible. Here are several strategies you can use:

1. Dispute inaccurate information

If you believe there are inaccuracies in the information reported by ASG, you can dispute these errors with the credit bureau. Under the Fair Credit Reporting Act (FCRA), you have the right to dispute incorrect or unverifiable information on your credit report. The credit bureau must investigate and respond to your dispute, usually within 30 days.

2. Request debt validation

You can send a debt validation letter to ASG asking them to verify the debt. This is your right under the Fair Debt Collection Practices Act (FDCPA). If ASG cannot provide adequate proof that the debt is yours and the amount is correct, they must cease collection efforts and remove the account from your credit report.

3. Negotiate a pay-for-delete agreement

In some cases, you can negotiate with ASG to remove the account from your credit report in exchange for payment. This is known as a “pay-for-delete” agreement. While not all collection agencies agree to this, it is worth trying if you can afford to pay the debt.

4. Seek professional help

Credit repair companies specialize in removing negative items from credit reports. They can negotiate with creditors and collection agencies on your behalf and often have a higher success rate. If you’re struggling to manage the process on your own, consulting a professional might be a good option.

Request all correspondence in writing

Ensure a documented record of communications with Accelerated Servicing Group by requesting written correspondence. This helps you keep track of all interactions and provides evidence if any disputes arise.
Contact Accelerated Servicing Group at the following address:
Accelerated Servicing Group contact information
235 Bewley Building, Lockport, NY 14094
+1 866-761-3027

How to file a complaint against Accelerated Servicing Group

If you believe Accelerated Servicing Group has violated your rights or engaged in unfair practices, you can file a complaint with the appropriate authorities. Here’s how you can do it:

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

The CFPB accepts complaints about financial products and services, including debt collection practices. You can file a complaint online through their website.

2. Contact the Federal Trade Commission (FTC)

The FTC oversees and enforces consumer protection laws. You can report any deceptive or unfair practices by filing a complaint with the FTC.

3. Reach out to your state Attorney General’s Office

Your state Attorney General’s office can assist with complaints about unfair debt collection practices. Check your state’s website for more details and contact information.

Understanding your credit report

Knowing how to read and understand your credit report is essential. It contains detailed information about your credit history, including accounts in good standing, derogatory marks, and public records. Here’s what you need to know:

1. Key sections of your credit report

Learn about the different sections of your credit report, such as personal information, credit accounts, inquiries, and negative items.

2. How to access your credit report

You can obtain a free credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) once every 12 months through AnnualCreditReport.com.

Your rights under the FDCPA and FCRA

The Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA) are laws designed to protect consumers. Here’s a summary of your rights under these acts:

1. Fair Debt Collection Practices Act (FDCPA)

The FDCPA prohibits debt collectors from using abusive, unfair, or deceptive practices to collect from you. This includes harassment, false statements, and other unethical practices.

2. Fair Credit Reporting Act (FCRA)

The FCRA promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. It gives you the right to dispute incomplete or inaccurate information.

Steps to improve your credit score

Improving your credit score can open doors to better financial opportunities. Here are some steps you can take:

1. Pay your bills on time

Consistently paying your bills on time is one of the most effective ways to improve your credit score. Set up reminders or automatic payments to help you stay on track.

2. Reduce your debt

Lowering your overall debt can positively impact your credit score. Focus on paying down high-interest debts first and avoid accumulating new debt.

3. Monitor your credit report

Regularly check your credit report for errors or signs of fraudulent activity. Dispute any inaccuracies you find to keep your report accurate and up-to-date.

Conclusion

Dealing with debt collectors like Accelerated Servicing Group can be stressful, but understanding your rights and the strategies available to you can make the process more manageable. Whether you choose to dispute the debt, negotiate a settlement, or seek professional help, taking proactive steps can help you protect your credit score and financial well-being. If you need assistance, don’t hesitate to reach out to a credit repair specialist for guidance.

Frequently asked questions

What should I do if Accelerated Servicing Group contacts me?

If Accelerated Servicing Group contacts you, it’s important to stay calm and not ignore their communication. You should first verify that the debt is yours by requesting a debt validation letter. This letter will provide details about the debt and prove its legitimacy. If the debt is valid, consider negotiating a settlement or payment plan. Always communicate in writing and keep records of all correspondence.

How can I dispute a debt with Accelerated Servicing Group?

To dispute a debt with Accelerated Servicing Group, send a written dispute letter to the credit bureaus reporting the debt. Include any evidence that supports your claim that the debt is incorrect or fraudulent. The credit bureaus will then investigate your dispute, usually within 30 days, and notify you of the results. Additionally, you can request a debt validation letter from Accelerated Servicing Group to verify the debt.

Will paying off a debt to Accelerated Servicing Group improve my credit score?

Paying off a debt to Accelerated Servicing Group will update the status of the debt on your credit report from “unpaid” to “paid.” While this shows that you have settled the debt, the collection account will still remain on your credit report for seven years from the date of first delinquency. This may still affect your credit score, although it may look better to potential lenders than an unpaid collection.

Can Accelerated Servicing Group sue me for an unpaid debt?

While it is uncommon, Accelerated Servicing Group can sue you for an unpaid debt if they believe they have a strong case. If they win the lawsuit, they can obtain a court judgment to garnish your wages or levy your bank account. To avoid this, it is crucial to respond to any legal notices and consider seeking legal advice if you are unable to pay the debt.

What are my rights when dealing with Accelerated Servicing Group?

When dealing with Accelerated Servicing Group, you have rights under the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA). These rights include disputing the debt, requesting validation of the debt, and being protected from harassment and abusive practices by the debt collector. You can also report any violations of these rights to the Consumer Financial Protection Bureau (CFPB) or the Federal Trade Commission (FTC).

Key takeaways

  • Accelerated Servicing Group is a legitimate debt collection agency.
  • Collection accounts from ASG can significantly impact your credit score.
  • You have the right to dispute inaccuracies and request debt validation.
  • Negotiating a settlement or pay-for-delete agreement may help, but it’s not always the best option.
  • Seeking professional help from credit repair specialists can provide effective solutions.

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