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How to Remove Paragon Contracting Svc from your Credit Report

Last updated 06/27/2024 by

Silas Bamigbola

Edited by

Fact checked by

Summary:
Dealing with debt collectors like Paragon Contracting Svc can be stressful and frustrating. If you have ever been late or defaulted on a bill, you may find Paragon Contracting Svc appearing on your credit report as the assigned agency to recover the debt. This comprehensive guide will help you navigate the process of removing it from your credit report. It covers the impact of this debt collection agency on your credit score, methods for disputing and removing the account, your legal rights, negotiation strategies, and steps to protect your financial health.

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What is Paragon Contracting Svc?

Paragon Contracting Svc is a debt collection agency that buys debt from a variety of different creditors. They may either own the debt they are trying to collect or be paid to collect on behalf of another company. They communicate via mail or phone calls, demanding payment, and may report a collection account on your credit report, which can significantly hurt your credit score.

Is Paragon Contracting Svc a scam and who do they collect for?

Paragon Contracting Svc is a legitimate debt collection agency, not a scam. They collect for various lending companies, which are constantly changing. The debt collectors may spam call and harass you, but they are governed by laws like the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA).

Does Paragon Contracting Svc hurt my credit score?

Yes, having Paragon Contracting Svc on your credit report can significantly impact your credit score. A collection account indicates past-due debts and can remain on your report for up to seven years, affecting your ability to get loans and other financial products.

How to remove Paragon Contracting Svc from your credit report

Verify the debt

Before taking any action, verify that the debt belongs to you and that the amount is accurate. Under the Fair Debt Collection Practices Act (FDCPA), you have the right to request a debt validation letter from Paragon Contracting Svc. This letter should include details about the debt, such as the original creditor, the amount owed, and any relevant account information.

Dispute inaccurate information

If you find any inaccuracies in the debt validation letter or your credit report, you can dispute the information with the credit bureaus. The Fair Credit Reporting Act (FCRA) gives you the right to challenge any incorrect or unverifiable information on your credit report. Submit a dispute to the credit bureaus (Experian, Equifax, and TransUnion) with supporting documentation to prove the errors.

Negotiate a pay-for-delete agreement

A pay-for-delete agreement involves negotiating with Paragon Contracting Svc to remove the collections account from your credit report in exchange for payment. While not all debt collectors agree to this, it is worth attempting. Ensure you get the agreement in writing before making any payments.

Seek professional help

If you are struggling to manage the dispute process or negotiate with Paragon Contracting Svc, consider seeking help from a credit repair company. These professionals can analyze your credit report, identify errors, and negotiate with creditors on your behalf.

Pro tip

Dispute any inaccuracies in writing and send your dispute to the credit bureaus via certified mail to ensure it is tracked and received.

Request all correspondence in writing

Ensure a documented record of communications with Paragon Contracting Svc by requesting written correspondence. Contact Paragon Contracting Svc at the following address:
Paragon Contracting Svc contact information
1309 N Flagler Dr, Fort Lauderdale, FL 33304
Phone: +1 954-475-1300

How to file a complaint against Paragon Contracting Svc

If you believe Paragon Contracting Svc has violated your rights under the FDCPA or FCRA, you have the option to file a complaint. Here’s how:

Filing a complaint

  1. Consumer Financial Protection Bureau (CFPB): File a complaint online here or by calling 1-855-411-2372.
  2. State’s Attorney General: You can also file a complaint with your state’s Attorney General’s office. Contact information for your state’s Attorney General can typically be found on their official website.
  3. Federal Trade Commission (FTC): File a complaint online here.

Documenting your complaint

When filing a complaint, it’s important to provide as much detail as possible. Include the name of the debt collector, the date and time of the alleged violation, and any supporting documentation such as letters, emails, or phone records. This information will help the authorities investigate your complaint more effectively.

Following up on your complaint

After filing your complaint, follow up with the relevant agency to ensure that your case is being handled. Keep records of all communications and updates related to your complaint. If you do not receive a satisfactory resolution, you may need to consult with a consumer protection attorney to explore further legal action.

How to protect yourself from debt collection harassment

Understanding your rights under the FDCPA can help you defend against aggressive or unfair collection practices. Learn how to recognize harassment and take steps to protect yourself.

Steps to take if you are sued by Paragon Contracting Svc

If you receive a lawsuit notice from Paragon Contracting Svc, it’s crucial to respond promptly and understand the legal process. This section covers what to do if you are sued and how to prepare your defense.

Alternative ways to manage and reduce your debt

Besides dealing with Paragon Contracting Svc, there are various strategies to manage and reduce your debt. This section explores different debt management plans, consolidation options, and budgeting tips to help you regain financial stability.

Conclusion

Dealing with Paragon Contracting Svc and other debt collectors can be challenging, but understanding your rights and the steps you can take to remove negative marks from your credit report is crucial. By verifying the debt, disputing inaccuracies, and considering options like pay-for-delete agreements, you can work towards improving your credit score. If you need help, don’t hesitate to reach out to credit repair professionals who can guide you through the process and help you achieve a positive resolution.

Frequently asked questions

How long does a collection account stay on my credit report?

A collection account can remain on your credit report for up to seven years from the date of the first delinquency.

Can paying off a collection account improve my credit score?

Paying off a collection account may improve your credit score slightly, but the negative mark will still remain on your report for up to seven years. Negotiating a pay-for-delete agreement can be more beneficial if you can get the debt collector to agree.

What should I do if Paragon Contracting Svc violates my rights?

If you believe that Paragon Contracting Svc has violated your rights under the FDCPA or FCRA, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) or seek legal advice to explore your options for recourse.

Can I remove a collection account by disputing it?

Yes, if the information on the collection account is inaccurate, unverifiable, or fraudulent, you can dispute it with the credit bureaus to have it removed from your credit report.

How can I prevent future collection accounts on my credit report?

To prevent future collection accounts, manage your debts responsibly, make timely payments, and monitor your credit report regularly for any inaccuracies or signs of identity theft.

Is Paragon Contracting Svc a legitimate company?

Yes, Paragon Contracting Svc is a legitimate debt collection agency. They are not a scam or fake company, but they may engage in aggressive collection tactics such as frequent phone calls or letters. It is important to know your rights when dealing with debt collectors to protect yourself from harassment and ensure fair treatment.

Why does Paragon Contracting Svc keep calling me?

Paragon Contracting Svc is attempting to collect a debt by contacting you through phone calls. If these calls are frequent or harassing, you have the right to request they cease communication. Sending a written request to stop contact can help manage the situation. If harassment continues, you may need to seek legal assistance.

Will Paragon Contracting Svc try suing or garnishing my wages?

While it is rare for Paragon Contracting Svc to sue, it is not impossible. If they decide to pursue legal action, you will receive a summons to appear in court. It is important to respond to any legal notices promptly. Wage garnishment can only occur if a court judgment is obtained against you. State and federal laws provide certain protections and exemptions regarding garnishment.

Key takeaways

  • Paragon Contracting Svc is a legitimate debt collection agency that can significantly impact your credit score.
  • You have the right to request debt validation and dispute any inaccuracies in your credit report.
  • Negotiating a pay-for-delete agreement can potentially remove the negative mark from your credit report.
  • Seek professional help if you need assistance managing disputes or negotiating with debt collectors.
  • Understanding your rights under the FDCPA and FCRA can help you protect yourself from unfair collection practices.

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