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Guide to Removing Professional Credit Management From Your Credit Report

Last updated 07/09/2024 by

Silas Bamigbola

Edited by

Fact checked by

Summary:
Dealing with debt collectors like Professional Credit Management can be stressful and frustrating. If you have ever been late or defaulted on a bill, you may find Professional Credit Management 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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Understanding Professional Credit Management

Professional Credit Management is a debt collection agency that reports collection accounts on your credit report. They might have purchased the debt from the original creditor or are being paid to collect on behalf of another company. This often means they paid pennies on the dollar for the debt, sometimes as little as 1/10th of the original cost. They may communicate via mail or phone, demanding payment, which negatively impacts your credit score.

How does Professional Credit Management affect your credit score?

Any derogatory mark on your credit report, including those from Professional Credit Management, can significantly impact your credit score. Collections accounts indicate financial difficulty or non-payment, which remains on your credit report for up to seven years. This can hinder your ability to get approved for loans or other financial opportunities.

Steps to remove Professional Credit Management from your credit report

1. Verify the debt

Before taking action, ensure the debt is yours and the amount is accurate. Under the Fair Debt Collection Practices Act (FDCPA), you have the right to request a debt validation letter from Professional Credit Management. 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) allows you 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 Professional Credit Management 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 Professional Credit Management, 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.

Your rights when dealing with Professional Credit Management

You have the right to dispute any debt that Professional Credit Management is trying to collect. The company is governed by the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA). These laws provide protections against unfair, deceptive, and abusive debt collection practices.
  • Protection from harassment: Debt collectors cannot engage in harassing behavior, such as repeatedly calling you, using obscene language, or making threats.
  • Verification of debts: If you dispute a debt, the debt collector must provide verification, including the amount owed and the name of the original creditor.
  • Cease and desist: You can request that the debt collector stop contacting you. Once you make this request in writing, they must cease communication, except to inform you of specific actions they may take, like filing a lawsuit.
  • Accuracy in reporting: Debt collectors must report information about the debt accurately. If there is inaccurate information on your credit report, you can dispute it.
  • Legal recourse: If a debt collector violates the FDCPA, you can take legal action against them. File a complaint with the Consumer Financial Protection Bureau (CFPB) or pursue a lawsuit in state or federal court.

Pro tip

You can request that a debt collector stop contacting you under the FDCPA. This request does not mean you are free from owing the debt, but it alleviates the stress of constant calls.

Request all correspondence in writing

Ensure a documented record of communications with Professional Credit Management by requesting written correspondence. Contact Professional Credit Management at the following address:
Professional Credit Management contact information:
P.O. Box 7548, Springfield, OR 97475-0039
Phone: 1-800-215-0575 (Hospitals/Clinics), 1-866-320-6527 (Government/Courts), 1-866-254-3007 (Utilities), 1-888-234-8439 (Banks/Credit Unions)
Email: consumer-helpdesk@professionalcredit.com

How to file a complaint against Professional Credit Management

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

Understanding your credit report

It is crucial to regularly review your credit report to ensure all the information is accurate. This includes checking for any accounts reported by Professional Credit Management. You can obtain a free credit report from each of the three major credit bureaus (Experian, Equifax, and TransUnion) annually at www.annualcreditreport.com.

Steps to dispute a debt with Professional Credit Management

When disputing a debt with Professional Credit Management, follow these steps:
  1. Request a debt validation letter to verify the debt details.
  2. Gather evidence supporting your dispute, such as payment records or correspondence.
  3. Submit a written dispute to Professional Credit Management and the credit bureaus, including all supporting documentation.
  4. Follow up to ensure your dispute is being processed and resolved.

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 Professional Credit Management and other debt collectors can be challenging. Understanding your rights and the steps to remove negative marks from your credit report is crucial. Verify the debt, dispute inaccuracies, and consider pay-for-delete agreements to improve your credit score. If you need help, reach out to credit repair professionals for guidance.

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 slightly improve your credit score, but the negative mark remains on your report for up to seven years. Negotiating a pay-for-delete agreement can be more beneficial if the debt collector agrees.

What should I do if Professional Credit Management violates my rights?

If you believe that Professional Credit Management 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 Professional Credit Management a legitimate company?

Yes, Professional Credit Management 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 Professional Credit Management keep calling me?

Professional Credit Management 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 Professional Credit Management try suing or garnishing my wages?

While it is rare for Professional Credit Management 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

  • Professional Credit Management 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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