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Guide to Removing Kings Credit Services (KCS) from Your Credit Report

Last updated 07/04/2024 by

SuperMoney Team

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Summary:
Kings Credit Services (KCS) is a debt collection agency that buys debt from various creditors or collects on behalf of others. This article explains their impact on your credit score, how to handle their calls, and strategies to remove them from your credit report.
Kings Credit Services (KCS) is a well-known debt collection agency that may show up on your credit report if you have unpaid debts. Whether they have purchased the debt from the original creditor or are collecting on behalf of another company, dealing with them can significantly impact your credit score. This article will guide you through understanding who Kings Credit Services is, their practices, and how to handle their collections effectively.

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Who does Kings Credit Services collect for?

Kings Credit Services collects debts for a variety of lenders. These debts can come from credit card companies, loan providers, or other financial institutions. When these original creditors give up on collecting the debt themselves, they sell it to agencies like Kings Credit Services for a fraction of its original value. Sometimes, Kings Credit Services might collect on behalf of the original creditor rather than owning the debt outright.

How Kings Credit Services affects credit score

Any derogatory mark, including a collection account from Kings Credit Services, can severely impact your credit score. A collections account indicates that you have defaulted on a debt, which can stay on your credit report for up to seven years. This negative mark can lower your score and make it difficult to secure loans or other forms of credit.

Pro Tip

Regularly check your credit report to ensure all the information is accurate. If you find any errors, dispute them immediately to prevent unnecessary damage to your credit score.

How to remove Kings Credit Services from your credit report

Removing Kings Credit Services from your credit report can be challenging but is possible under certain circumstances. Here are some strategies:

Dispute inaccurate information

If there are errors in the information Kings Credit Services has reported, you can dispute these inaccuracies with the credit bureaus. According to a study by the U.S. PIRGs, 79% of credit reports contain mistakes or serious errors. Correcting these errors can result in the removal of the collection account.

Request debt validation

Under the Fair Debt Collection Practices Act (FDCPA), you have the right to request that Kings Credit Services validate the debt. If they cannot provide the necessary documentation proving the debt is yours, they must remove the collection from your credit report.

Negotiate a pay-for-delete agreement

In some cases, you might be able to negotiate a pay-for-delete agreement with Kings Credit Services. This means you agree to pay the debt in exchange for Kings Credit Services removing the collection account from your credit report. However, this practice is not always guaranteed to work.

Pro Tip

When negotiating with debt collectors, always get any agreements in writing before making a payment. This ensures you have proof of the arrangement.

Should I pay Kings Credit Services?

Paying off a debt in collections can change the status on your credit report from “unpaid” to “paid,” but the collection account will still remain on your report for seven years from the date of first delinquency. While paying off the debt might stop the collection calls and prevent potential legal action, it may not significantly improve your credit score.

Pros of paying off collections

  • Stops collection calls and harassment
  • Prevents potential lawsuits
  • May improve your credit score slightly

Cons of paying off collections

  • Collection account remains on your report for up to seven years
  • May not significantly boost your credit score
  • Could use funds better for other financial priorities

Pro Tip

If you receive a lawsuit notice from a debt collector, do not ignore it. Respond promptly and seek legal advice to understand your options and protect your rights.

Request all correspondence in writing

Ensuring a documented record of communications with Kings Credit Services can be crucial. Requesting written correspondence helps you maintain accurate records and provides evidence if disputes arise. Contact Kings Credit Services at the following address:
Kings Credit Services contact information
510 N Douty St, Hanford, CA 93230
PO Box 950, Hanford, CA 93232-0950
+1 800-366-0950

How to file a complaint against Kings Credit Services

If you believe that Kings Credit Services has violated your rights under the Fair Debt Collection Practices Act (FDCPA) or other consumer protection laws, you can file a complaint. Here’s how:

Consumer Financial Protection Bureau (CFPB)

The CFPB handles complaints about debt collection practices. You can file a complaint online through their website.

Federal Trade Commission (FTC)

The FTC also accepts complaints about debt collectors. You can file a complaint through their online portal or by calling their hotline.

State attorney general’s office

Your state attorney general’s office can also assist with complaints about debt collection practices. Visit their website or contact them directly for more information.

Understanding your rights under the FDCPA

The Fair Debt Collection Practices Act (FDCPA) provides consumers with protections against abusive debt collection practices. Understanding these rights can help you better manage interactions with Kings Credit Services.

How to negotiate a settlement with Kings Credit Services

Negotiating a settlement with Kings Credit Services can be a viable option if you owe the debt. This section will guide you through the process, including tips on how to get the best possible terms.

Assess your financial situation

Before starting negotiations, assess your financial situation to determine how much you can realistically afford to pay. This will help you set a reasonable settlement offer.

Contact Kings Credit Services

Reach out to Kings Credit Services to discuss your situation. Be honest about your financial difficulties and express your willingness to settle the debt for a reduced amount.

Get the agreement in writing

Once you reach a settlement agreement, ensure that you get all the terms in writing. This document should include the amount to be paid, the payment deadline, and the agreement to remove the collection from your credit report.

Impact of debt collections on your credit score

Debt collections can have a significant impact on your credit score. This section explains how collections affect your score and what you can do to mitigate the damage.

Immediate impact

When a debt collection account first appears on your credit report, it can cause a substantial drop in your credit score. The exact impact depends on your overall credit profile and the amount of the debt.

Long-term effects

A collection account remains on your credit report for up to seven years, affecting your ability to obtain new credit, secure favorable interest rates, and even impact your job prospects.

Steps to rebuild your credit

While dealing with a collection account can be challenging, there are steps you can take to rebuild your credit. Paying off outstanding debts, disputing inaccuracies, and maintaining a good payment history can all contribute to improving your credit score over time.
Dealing with Kings Credit Services can be a daunting task, but understanding your rights and options can make the process more manageable. Whether you decide to dispute the debt, negotiate a settlement, or seek professional help, taking action is crucial to protecting your credit score and financial future.

Frequently asked questions

What is Kings Credit Services?

Kings Credit Services (KCS) is a debt collection agency that buys and collects debts from various creditors or collects on behalf of others. They work with credit card companies, loan providers, and other financial institutions to recover unpaid debts.

How does Kings Credit Services affect my credit score?

A collection account from Kings Credit Services on your credit report can significantly lower your credit score and impact your ability to get loans or other financial products. Collection accounts indicate defaulted debts and can stay on your credit report for up to seven years.

Can I remove Kings Credit Services from my credit report?

Yes, you can dispute any inaccurate, erroneous, or fraudulent information on your credit report. If successful, this can lead to the removal of the collection account. You can also request debt validation or negotiate a pay-for-delete agreement with Kings Credit Services.

What are my rights when dealing with Kings Credit Services?

You have the right to dispute any debt that Kings Credit Services is trying to collect. They are governed by the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA), which provide protections against abusive debt collection practices and ensure accurate credit reporting.

What should I do if Kings Credit Services keeps calling me?

If Kings Credit Services continues to call and attempt to collect a debt, it is best to request that they communicate in writing. You can also contact a professional credit repair company to help you dispute the debt and potentially remove it from your report. Ignoring calls is not recommended as it won’t make the debt go away.

Should I negotiate a settlement with Kings Credit Services?

Settling your debt with Kings Credit Services may help your score, but it may also hurt it. The answer depends on many variables, including whether the debt is valid and if you can afford to pay a settlement. Always get any agreements in writing to ensure you have proof of the arrangement.

Key takeaways

  • Kings Credit Services is a legitimate debt collection agency that can impact your credit score.
  • Dispute inaccuracies on your credit report to potentially remove Kings Credit Services.
  • Request debt validation if you are unsure about the debt.
  • Consider negotiating a pay-for-delete agreement, but get it in writing.
  • Know your rights under the FDCPA and FCRA when dealing with debt collectors.

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