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How to Remove Plaza Services from Your Credit Report

Last updated 07/04/2024 by

Silas Bamigbola

Edited by

Fact checked by

Summary:
Dealing with debt collectors like Plaza Services can be stressful and frustrating. If you have ever been late or defaulted on a bill, you may find Plaza Services 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.
Encountering a debt collector like Plaza Services on your credit report can be an unnerving experience. Plaza Services is a debt collection agency that either purchases debts from original creditors or collects on behalf of other companies. This entry can significantly impact your credit score, making it harder to get approved for loans or other financial services. However, there are steps you can take to remove Plaza Services from your credit report and protect your financial future. This guide will provide you with detailed information on who Plaza Services collects for, how they impact your credit score, and the methods available to remove them from your credit report.

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Who does Plaza Services collect for?

Plaza Services is a debt collection agency reporting a collection account on your credit report. In some cases, this means they purchased the debt from the original creditor (i.e., a credit card or loan company). Usually, this means they paid pennies on the dollar, sometimes 1/10th of the original cost, to buy this debt. In other cases, they may not own the debt themselves, instead being paid to collect on behalf of another company.

Does Plaza Services hurt my credit score?

Any derogatory mark under its statute of limitations may severely impact your credit score. A collections account is no different. When Plaza Services reports a collection account on your credit report, it indicates a history of non-payment, which can significantly lower your credit score and reduce your chances of being approved for new credit.

How do I remove Plaza Services from my credit report?

Removing Plaza Services from your credit report may be possible if any information on the account is incorrect, erroneous, or fraudulent, and is not (or cannot be) fixed in an appropriate amount of time. According to a study by the U.S. PIRGs, 79% of credit reports contain mistakes or serious errors. We specialize in going after these types of accounts for our clients.

1. 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 Plaza Services. This letter should include details about the debt, such as the original creditor, the amount owed, and any relevant account information.

2. 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.

3. Negotiate a pay-for-delete agreement

A pay-for-delete agreement involves negotiating with Plaza Services 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.

4. Seek professional help

If you are struggling to manage the dispute process or negotiate with Plaza Services, 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 Plaza Services by requesting written correspondence. Contact Plaza Services at the following address:
Plaza Services contact information:
110 Hammond Drive, Suite 110, Atlanta, GA 30328
Phone: +1 844-655-0750

How to file a complaint against Plaza Services

If you believe Plaza Services 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.

Steps to dispute a debt with Plaza Services

1. Request a debt validation letter

Under the FDCPA, you have the right to request a debt validation letter from Plaza Services. This letter should include details about the debt, such as the original creditor, the amount owed, and any relevant account information.

2. Submit a written dispute

If you find inaccuracies in the debt validation letter or your credit report, submit a written dispute to Plaza Services and the credit bureaus. Include all supporting documentation to prove the errors.

3. Follow up on your dispute

Ensure that your dispute is being processed and resolved by following up with Plaza Services and the credit bureaus. Keep records of all communications for future reference.

Tips for dealing with debt collectors like Plaza Services

When dealing with debt collectors, it’s essential to know your rights and how to protect yourself. Here are some tips:
  • Stay calm and polite: Maintain a calm and polite demeanor during all communications to prevent escalation and keep the situation manageable.
  • Know your rights: Familiarize yourself with the FDCPA and your state’s debt collection laws to empower yourself against unfair practices.
  • Keep records: Document all interactions with debt collectors, including dates, times, and the nature of the communication.

Understanding your credit report

Why understanding your credit report is important

It is crucial to regularly review your credit report to ensure all information is accurate, including accounts reported by Plaza Services. You can obtain a free credit report from each of the three major credit bureaus (Experian, Equifax, and TransUnion) annually at www.annualcreditreport.com.

How to prevent future debt collections

To avoid future debt collection issues, consider the following tips:
  • Pay your bills on time and manage your debts responsibly.
  • Monitor your credit report regularly for any inaccuracies or signs of identity theft.
  • Create a budget to keep track of your income and expenses, ensuring you live within your means.

Conclusion

Dealing with Plaza Services 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 Plaza Services violates my rights?

If you believe that Plaza Services 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.

Key takeaways

  • Plaza Services 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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