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How to remove Cash-Pro Inc from your credit report

Last updated 07/03/2024 by

Bamigbola Paul

Edited by

Fact checked by

Summary:
Cash-Pro, Inc. is a debt collection agency that can impact your credit score negatively by reporting collection accounts. This article provides comprehensive steps on how to handle and potentially remove Cash-Pro, Inc. from your credit report, improving your financial health.
Having a collection account from Cash-Pro, Inc. on your credit report can be distressing. This negative mark can severely impact your credit score, making it harder to get approved for loans or credit cards. This article aims to provide detailed information on who Cash-Pro, Inc. is, how they affect your credit, and the steps you can take to remove them from your credit report.

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Who is Cash-Pro Inc.?

Cash-Pro, Inc. is a debt collection agency that either buys debt from original creditors at a fraction of the cost or is hired to collect on behalf of other companies. They may contact you via mail or phone, demanding payment for the debt they are trying to collect. This often results in a collection account appearing on your credit report, which can significantly damage your credit score.

Does Cash-Pro, Inc. hurt my credit score?

Yes, having a collection account from Cash-Pro, Inc. on your credit report can severely impact your credit score. Any derogatory mark can lower your score, affecting your chances of getting approved for new credit. Collection accounts are particularly harmful because they indicate that you have defaulted on paying your debts.

Impact on loan approvals

A collection account can hinder your ability to get approved for loans or credit cards. Lenders view these accounts as a sign of financial instability, making them less likely to extend credit to you.

How to remove Cash-Pro Inc. from your credit report

Removing Cash-Pro, Inc. from your credit report can be challenging but not impossible. Here are steps you can take:

Check for errors

Review your credit report for any inaccuracies related to the Cash-Pro, Inc. account. According to the U.S. Public Interest Research Group (PIRG), 79% of credit reports contain errors. Disputing any incorrect information can lead to the removal of the collection account.

Dispute the debt

If the debt is not yours or there are errors in the reported information, you can dispute the debt with the credit bureaus. They are required by law to investigate your dispute and correct any inaccuracies.

Negotiate a settlement

Sometimes, negotiating a settlement with Cash-Pro, Inc. can lead to the removal of the account from your credit report. However, ensure you get a written agreement stating that the account will be removed upon payment.

Hire a credit repair company

If dealing with Cash-Pro, Inc. on your own feels overwhelming, consider hiring a reputable credit repair company. These professionals have experience in handling such cases and can help you dispute and potentially remove the collection account.

Pro Tip

Always get any agreement with Cash-Pro, Inc. in writing before making a payment. This ensures they follow through on their promise to remove the collection account from your credit report.

Should you pay for delete with Cash-Pro, Inc.?

Paying for delete is a strategy where you offer to pay the debt in exchange for the collection agency removing the account from your credit report. While this sounds ideal, it’s important to note that not all collection agencies, including Cash-Pro, Inc., may agree to this. Additionally, paying off a collection account does not remove the negative impact it has had on your credit score, as the account will still appear as “paid” rather than being deleted.

Request all correspondence in writing

Ensure a documented record of communications with Cash-Pro, Inc. by requesting written correspondence. Contact Cash-Pro, Inc. at the following address:
Cash-Pro, Inc. contact information
101 Plaza East Blvd, Suite 100 Evansville, IN 47715
PO Box 5469, Evansville, IN 47716
Ph# +1 800-972-2747 or 812-422-4751

How to file a complaint against them

If you believe that Cash-Pro, Inc. has violated your rights or engaged in unfair practices, you can file a complaint. Here are steps to file a complaint:
  1. Contact the Consumer Financial Protection Bureau (CFPB) at Submit a complaint or call 1-855-411-2372.
  2. Submit a complaint with the Federal Trade Commission (FTC) at Report Fraud or call 1-877-382-4357.
  3. File a complaint with your state Attorney General’s office. Find contact information on the National Association of Attorneys General website.

Understanding your rights under the FDCPA

The Fair Debt Collection Practices Act (FDCPA) provides consumers with protections against abusive debt collection practices. Knowing your rights can help you handle interactions with Cash-Pro, Inc. more effectively. The FDCPA limits the tactics that debt collectors can use and grants consumers the right to request validation of their debt. The FCRA ensures the accuracy and privacy of information on credit reports, allowing consumers to dispute incorrect information.

Steps to dispute a debt with Cash-Pro, Inc.

If you find errors in the debt reported by Cash-Pro, Inc., you can dispute it. Here are the steps to follow:
  1. Get a copy of your credit report and identify the errors.
  2. Gather supporting documents to prove the inaccuracies.
  3. Write a dispute letter to the credit bureau and Cash-Pro, Inc.
  4. Follow up with the credit bureau to ensure the errors are corrected.

Tips for negotiating with Cash-Pro, Inc.

Negotiating with a debt collection agency can be challenging. Here are some tips to help you through the process:
  • Always communicate in writing and keep records of all correspondence.
  • Never admit to owing the debt during negotiations.
  • Offer a lump sum payment in exchange for removing the account from your credit report.
  • Get any agreement in writing before making a payment.

Pro Tip

If Cash-Pro, Inc. is threatening legal action, seek legal advice immediately. Knowing your rights can help you navigate these threats more effectively.

Conclusion

Dealing with Cash-Pro, Inc. on your credit report can be stressful, but understanding your options and taking the right steps can help you improve your credit health. By disputing inaccuracies, negotiating settlements, and seeking professional help, you can potentially remove this negative mark and work towards a better credit score. Remember, persistence and knowledge of your rights are key in managing and resolving collection accounts.

Frequently asked questions

Is Cash-Pro, Inc. legit, fake, or a scam?

Cash-Pro, Inc. is a legitimate debt collection agency. They are not a fake company or a scam. However, their aggressive tactics can feel harassing, which is common in the debt collection industry.

Why does Cash-Pro, Inc. keep calling me?

Cash-Pro, Inc. continues to call because they are attempting to collect a debt from you. The best approach is to communicate with them in writing and seek assistance from a credit repair professional if necessary.

Will Cash-Pro, Inc. try suing or garnishing my wages?

While it is rare, Cash-Pro, Inc. could potentially sue you for the debt. Wage garnishment is also a possibility but less common. State and federal laws provide certain protections against these actions. Consulting with a credit repair company can help you understand your rights and the best course of action.

Does Cash-Pro, Inc. accept goodwill letters?

In most cases, Cash-Pro, Inc. does not accept goodwill letters to remove collection accounts or charge-offs. This practice is common among many debt collection agencies.

What are my rights when dealing with Cash-Pro, Inc.?

You have the right to dispute any debt of yours that Cash-Pro, Inc. is trying to collect. Cash-Pro, Inc. is governed by the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA). These acts provide significant protections against abusive debt collection practices. Specifically, the FDCPA limits the tactics that debt collectors can use and grants consumers the right to request validation of their debt. The FCRA ensures the accuracy and privacy of information on credit reports, allowing consumers to dispute incorrect information.

Key Takeaways

  • Cash-Pro, Inc. is a legitimate debt collection agency.
  • Having a collection account from Cash-Pro, Inc. can significantly impact your credit score.
  • Errors in your credit report should be disputed to potentially remove the collection account.
  • Negotiating a settlement can sometimes lead to the removal of the account, but always get agreements in writing.
  • Hiring a credit repair company can help manage disputes and potentially improve your credit report.
  • Understand your rights under the FDCPA to handle interactions with Cash-Pro, Inc. effectively.
  • Filing a complaint against Cash-Pro, Inc. can be done through the CFPB, FTC, and your state Attorney General’s office.

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