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⁠⁠How to Remove Account Brokers Of Larimer County From Your Credit Report

Last updated 07/03/2024 by

Silas Bamigbola

Edited by

Fact checked by

Summary:
Account Brokers of Larimer County, now operating as Alpine Credit, Inc., a division of Allegiant Receivables Solutions, Inc., is a debt collection agency that can appear on your credit report if they are attempting to collect a debt from you. This comprehensive guide explains the impact of such collections on your credit score, the steps to remove them, and how to manage communications with debt collectors to protect your financial health. Knowing your rights and the appropriate actions to take can help you navigate this challenging situation effectively.

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Who are Account Brokers of Larimer County?

Account Brokers of Larimer County, Inc., now known as Alpine Credit, Inc., is a debt collection agency that purchases or is contracted to collect debts on behalf of original creditors. They typically acquire debts for a fraction of their original value, sometimes for as little as 1/10th of the original amount owed. Their primary goal is to recover as much of the debt as possible through persistent communication with the debtor.

What do they do?

They may contact you via phone or mail, demanding payment for the debt they are attempting to collect. This collection activity often results in a negative entry on your credit report, which can significantly impact your credit score and your ability to obtain loans or credit in the future.

How does Account Brokers of Larimer County affect your credit score?

Account Brokers of Larimer County, Inc., like any debt collection agency, can significantly affect your credit score in various ways. Here’s how:

1. Derogatory mark on credit report

When Account Brokers of Larimer County reports a collection account to the credit bureau, it is recorded as a derogatory mark. This can stay on your credit report for up to seven years from the date of the original delinquency, severely impacting your credit score.

2. Credit score drop

A collection account can cause a substantial drop in your credit score. The impact can vary, but typically, the more recent the collection, the more it will hurt your score. According to FICO, a single collection account can lower a score by as much as 110 points depending on the individual’s overall credit profile.

3. Loan approval difficulties

Having a collection account on your credit report can hinder your chances of being approved for loans, credit cards, and other forms of credit. Lenders view collection accounts as a sign of financial irresponsibility and may be hesitant to extend credit to individuals with such marks on their reports.

4. Higher interest rates

Even if you are approved for credit, having a collection account can result in higher interest rates. Lenders compensate for the increased risk of lending to someone with a poor credit history by charging higher interest rates, making borrowing more expensive.

5. Limited credit opportunities

Collection accounts can limit your credit opportunities. You may be denied credit products with favorable terms, such as low-interest credit cards or loans, and instead be offered products with higher fees and interest rates.

Steps to remove Account Brokers of Larimer County from your credit report

Removing a collection account from your credit report can be challenging but not impossible. Here are the steps you can take:

1. Validate the debt

Request a debt validation letter from Account Brokers of Larimer County, Inc. Under the Fair Debt Collection Practices Act (FDCPA), you have the right to request validation of the debt. This means the collection agency must provide proof that the debt is yours and that they have the right to collect it.

2. Dispute inaccuracies

If the debt validation letter reveals inaccuracies or if you believe the debt is not yours, you can dispute the account with the credit bureaus. Provide any supporting documentation to prove your case. According to the U.S. Public Interest Research Group (PIRG), 79% of credit reports contain errors, so it’s worth checking for mistakes.

3. Negotiate a settlement

If the debt is valid, consider negotiating a settlement with Account Brokers of Larimer County, Inc. You may be able to agree on a reduced amount to pay off the debt. However, be aware that this does not guarantee the removal of the collection account from your credit report.

Pro Tip

Always get any settlement agreement in writing before making a payment. This ensures that the terms of the agreement are clear and enforceable.

4. Request a pay-for-delete agreement

In some cases, you can negotiate a pay-for-delete agreement. This is where you agree to pay the debt in exchange for the removal of the collection account from your credit report. Note that not all collection agencies agree to this, but it’s worth asking.

5. Seek professional help

If you find the process overwhelming, consider seeking help from a credit repair professional. They can assist you in disputing inaccuracies, negotiating settlements, and understanding your rights under federal laws.

Request all correspondence in writing

Ensure a documented record of communications with Account Brokers of Larimer County, Inc. by requesting written correspondence. Contact Account Brokers of Larimer County, Inc. at the following address:
Account Brokers of Larimer County, Inc. contact information
2001 S Shields St Building H Suite 103, Fort Collins, CO 80526
Ph# +1 970-494-7700

How to file a complaint against them

If you believe Account Brokers of Larimer County, Inc. has violated your rights or engaged in unfair practices, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) or the Federal Trade Commission (FTC). Here’s how:

1. Consumer Financial Protection Bureau (CFPB)

Visit the CFPB’s website and submit a complaint online. Provide as much detail as possible about your interactions with Account Brokers of Larimer County, Inc.
CFPB Contact Information
File a complaint online
Phone: (855) 411-2372

2. Federal Trade Commission (FTC)

You can also file a complaint with the FTC. This helps the FTC investigate and potentially take action against companies that violate consumer protection laws.
FTC Contact Information
File a complaint online
Phone: (877) 382-4357

Tips for dealing with debt collectors

Know your rights under the FDCPA

The Fair Debt Collection Practices Act (FDCPA) provides several protections for consumers. Familiarize yourself with these rights to ensure you are not subjected to unfair practices.

Document all communications

Keep a detailed record of all communications with debt collectors, including dates, times, and the content of conversations. This can be crucial if you need to dispute the debt or file a complaint.

Consider seeking legal advice

If you feel overwhelmed or unsure of your rights, consider consulting with an attorney who specializes in consumer law. They can provide guidance and help you navigate the complexities of dealing with debt collectors.

Conclusion

Dealing with a collection account from Account Brokers of Larimer County, Inc., now known as Alpine Credit, Inc., can be stressful, but understanding your rights and the steps you can take to remove the account from your credit report can help you manage the situation effectively. Remember, validating the debt, disputing inaccuracies, and negotiating settlements are key strategies. If needed, seek professional assistance to navigate this process and protect your credit score.

Frequently asked questions

What are my rights when dealing with Account Brokers of Larimer County, Inc.?

You have several rights under the FDCPA and the Fair Credit Reporting Act (FCRA):
  • Right to dispute: You can dispute any debt that you believe is inaccurate or not yours.
  • Right to validation: You can request validation of the debt to ensure it is legitimate.
  • Protection from harassment: The FDCPA prohibits debt collectors from using abusive or harassing tactics.

Should I pay off Account Brokers of Larimer County, Inc.?

Paying off a collection account can change its status from unpaid to paid on your credit report. However, the account will still remain on your report for seven years from the date of the original delinquency. Consider negotiating a pay-for-delete agreement if possible.

Is Account Brokers of Larimer County, Inc. a legitimate company?

Yes, Account Brokers of Larimer County, Inc. is a legitimate debt collection agency. They are not a scam, but they may employ aggressive tactics to collect debts.

Why do they keep calling me?

Account Brokers of Larimer County, Inc. will continue to call you to collect the debt. If the calls become excessive or harassing, you have the right to request that they stop under the FDCPA.

Can they sue me or garnish my wages?

While it is uncommon for debt collectors to sue, it is possible from debt collectors. Wage garnishment is also a possibility but is subject to state and federal laws that provide certain exemptions.

Key takeaways

  • Account Brokers of Larimer County, Inc., now known as Alpine Credit, Inc., is a legitimate debt collection agency.
  • Collections can significantly impact your credit score.
  • There are several steps you can take to remove a collection account from your credit report.
  • Know your rights under the FDCPA and FCRA when dealing with debt collectors.
  • Consider seeking professional help if you find the process overwhelming.

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