![]() ![]() While credit repair companies are an excellent resource for those dealing with debt collectors, some are simply not worth your hard-earned cash. They can also review your overall financial habits and help you improve your scores through better money management. Credit repair companies specialize in identifying and removing damaging entries from your credit report. You can also hire a credit repair company to remove an AAA Collections entry. If the collection is still on the report, reach out to AAA Collections and remind it of your agreement. After 30 days, check your credit report with all three major credit bureaus. Once the contract arrives, you can make your first payment. Do not make a payment until you receive this agreement in the mail. Then, request that AAA Collections provide the official agreement in writing. You can start by offering to pay half the debt and negotiate until you can agree on the terms. To make a profit, it only needs to collect more than it paid for the debt. AAA Collections will almost always settle for less than the full amount because it likely paid a low price to acquire the debt. In this settlement, you agree to make payments on the debt in exchange for the agency removing the collection from your report with the three major credit bureaus. If AAA Collections verified that the debt belongs to you, you can negotiate a pay-for-delete settlement. If it can’t validate your debt, it must dismiss the debt and contact all three major credit bureaus to remove the negative entry from your credit report without you having to pay a dime. Once AAA Collections receives your letter, it must send proof that the debt belongs to you within 30 days. Be sure to send it via certified mail so you can verify the agency has received the letter. You must act fast because you must send a debt validation letter within 30 days of the first time AAA Collections contacts you. You can send it to AAA Collections at the following address:ĭebt collectors don’t always have complete or correct information about the debt, and the FDCPA gives you the right to request verification that the debt actually belongs to you before you make payments on it. The most crucial step to removing a collection entry is to send a debt validation letter. Misrepresenting information about your debt.It prohibits a collection agency from the following practices: The FDCPA is federal legislation that prevents debt collectors from harassing, abusing and deceiving consumers. You can follow these basic steps to remove AAA Collections from your credit report.ĭebt collectors tend to take advantage of customers who aren’t aware of their rights under the FDCPA. Steps to remove AAA collections from your credit reportĮven if you pay the debt, a collections account can remain on your credit report for up to seven years. If AAA Collections is harassing you, filing incorrect information regarding your debt or committing any infractions under the Fair Debt Collection Practices Act (FDCPA), consider filing a complaint as well. Many complaints relate to inaccurate reporting or a lack of response to debt verification requests. AAA Collections currently has over 45 consumer complaints filed against it with the Consumer Financial Protection Bureau and 12 with the Better Business Bureau (BBB). Is AAA Collections legitimate?ĪAA, or Advanced Asset Alliance, is a legitimate business, but this doesn’t mean that customers enjoy working with it. It specializes in collecting on behalf of companies in the healthcare industry in the U.S. What is AAA Collections?įounded in 1986, AAA Collections is a small collection agency based in Sioux Falls, South Dakota. Read on to learn how to remove an AAA Collections collection entry from your credit report. It’s important to remove the entry from your report before it causes serious damage to your score. The agency will open a collections account on your credit report, and this entry will notify the credit reporting agencies of your delinquency and tell future lenders and creditors that you have a history of nonpayment, severely impacting your financial future.Ĭollections accounts are damaging to your credit score and can prevent companies from approving you for loans and credit cards. This means you’ll start getting phone calls from a debt collector like AAA Collections. If you forget to pay a bill, the original creditor may move the debt to collections. ![]()
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