How to Remove Alltran Financial from Your Credit Report
If Alltran Financial, LP. is contacting you, it’s probably because this debt collection agency believes you owe it money. It also means a collection account will appear on your credit report with the three major credit reporting bureaus, which is detrimental to your credit score. However, there are ways to stop the harassing calls and get the agency off your back.
Alltran Financial, formerly United Recovery Systems, has its headquarters in Houston, Texas, and two satellite offices in Tulsa, Oklahoma and Bryan, Texas. You also may hear from Alltran Education or Alltran Health, which are subsidiary companies.
The Fair Debt Collections Practices Act (FDCPA) is a federal law that governs the collection practices of agencies such as Alltran Financial. This act protects consumers from abusive, unfair or deceptive debt collection tactics. Familiarizing yourself with your consumer rights under the FDCPA will help you to deal with Alltran Financial, ensure the removal of its collection account from your report and stop the company from harassing you. The calls and letters won't stop overnight, but the information in this article will help you deal with the agency and get results.
Steps to remove Alltran Financial from your credit report
You can use the following proven strategies to remove collections from your credit report and improve your score:
- Request written communication
- Verify the debt
- File a dispute
- Negotiate an agreement
- Hire a professional
Request written communication
Start by sending a letter to Alltran Financial advising it that you're aware of your consumer rights under the FDCPA, and request that they only contact you via mail in future. Many consumers run into trouble with collection companies when they talk to service representatives over the phone. Phone calls don’t leave a paper trail, which means agencies can easily forget any agreements you make. Communicating via old-fashioned snail mail will provide documentation of all your conversations and put an end to the annoying phone calls.
The contact details for Alltran Financial are below:
5800 N Course Drive,
Houston, TX 77072
Phone number: 800-568-0399
Verify the debt
Your next step is to request validation of the debt. Debt collectors often purchase old debts from original creditors, such as credit card companies and student loan servicers, for less than the owed amount, and then collect the debt to make a profit. The problem is that the information they receive from the original creditor isn’t always accurate, and it’s possible that you already paid the original creditor or that the debt belongs to someone else.
To validate the debt, simply send Alltran Financial a letter requesting it provides accurate documentation showing the debt is yours. Make sure you send the letter via registered mail so you get proof of receipt. After it receives your letter, the company has 30 days to provide you with the requested documentation.
File a dispute
If Alltran Financial sends you written proof that the debt is yours, you still need to make sure that the information in the documentation matches your records and the details on your credit report. If you find any inaccuracies or inconsistencies, you should file a dispute with the three major credit bureaus.
Negotiate an agreement
If all the information is accurate, it’s time to start negotiating with Alltran Financial. A debt collection company that buys old debt will usually agree to an offer because any payment you make translates into profit for the agency. You can initially offer to pay much less than you owe, so you need to decide on an amount that you think is reasonable. A debt collection agency will often agree to accept less, but you’ll have to pay something to stop it from pursuing you for payment.
Consider offering to pay 30% to 60% of the debt in exchange for a guarantee that Alltran Financial will remove its collection entry from your report with the credit bureaus. If it doesn’t accept your initial offer, you can negotiate. When you reach an agreement, ask the agency to send you the terms in writing. After you receive it, you can make the payment, and then check your credit report after 30 days to confirm the removal of the negative entry.
Hire a professional
If you want a professional to handle the process for you so you can forget about the whole thing, consider contacting a professional credit repair company, such as Credit Saint. This company has extensive experience and can help you remove negative entries quickly. Credit Saint rates highly with the Better Business Bureau (BBB) and receives many excellent reviews from consumers.
Dealing with Alltran Financial
You can contact Alltran Financial via its website, but it’s advisable to communicate with the agency via U.S. Mail only. Consider using registered mail so that you get confirmation when the agency receives your correspondence.
Alltran Financial is not a scam. It buys old debt when an original creditor posts a charge-off. Charge-offs can result from foreclosures, higher education debt, bankruptcies, repossessions and tax liens. The agency doesn’t have a rating or accreditation with the BBB, but it does have a variety of complaints against it on file.
Update: This article has been updated to provide current contact information for Alltran Financial.
Disclaimer: This story was originally published on October 20, 2017, on BetterCreditBlog.org. To find the most relevant information concerning collections or credit card inquiries, please visit: https://money.com/how-to-remove-collections-from-credit-report/ or https://money.com/get-items-removed-from-credit-report/