How to Remove CBE Group from Your Credit Report
Is CBE Group calling you repeatedly about unpaid bills? While this is annoying, a debt collection agency’s calls are the least of your worries. Once a debt collection account makes its way onto your credit report, it can significantly damage your credit score. This guide will explain exactly how CBE Group works and provide you with the resources you need to kick it to the curb and improve your credit score.
About CBE Group
There are a lot of questions surrounding CBE Group. Is CBE Group legit? Is it a scam? What does CBE stand for? As it turns out, it is a long-standing, legitimate and lawful debt collections agency.
Founded in 1985 in the U.S., CBE Group has its headquarters in Cedar Falls, Iowa. The sizable debt collector has close to 1,400 employees.
Its full name is CBE Group, Inc, a subsidiary of CBE Companies, but the company may appear on your credit report under the following names:
- CBE Group Verizon
- CBE Group Collections
- The CBE Group Inc. (former)
- CBE Collections
What does CBE Group collect?
CBE Group collects debt for a vast range of businesses and organizations, including the IRS. Common types of debt it collects include:
- Cable and satellite TV bills
- Credit card debt
- Education costs
- Medical bills
- Health care debt
- Phone bills
- Student loans
- Taxes
- Utility bills
How does CBE Group work?
CBE Group makes its money by collecting payments for debts from a number of companies, organizations and even the government. Depending on the industry, it handles both first and third-party collections.
It targets individuals who owe money to one of the companies it works with. This may involve pursuing a $20 balance on a cable bill or a whopping college tuition payment. It then calls and sends letters to the individual until they settle the debt. The agency’s entry will also appear on the individual’s credit report as a collections account, which can lower their credit score for up to seven years.
3 ways to remove CBE Group from your credit report
How can you ensure the removal of CBE Group from your credit report? If you give in, answer one of its phone calls and hand over your payment information, it’s important to realize that simply paying what’s due won’t guarantee the removal of CBE from your report. Instead, you can use one of these three strategies to get the collection off your credit profile:
- Send a debt validation letter
- Negotiate for the removal of the account
- Work with credit repair experts
1. Send a debt validation letter to CBE Group
One of the easiest ways to remove a debt collection agency from your credit report is to dispute the claim. The Fair Debt Collection Practices Act (FDCPA) requires debt collectors to produce proof when they receive a debt validation letter.
The FDCPA entitles you to a free credit report from the three major credit reporting bureaus. Often, third-party collectors such as CBE Group don’t have adequate validation that you owe the amount they claim you do. If the collections agency can’t provide adequate proof, they must remove the collections account from your credit report.
Regardless of the circumstances, it can’t hurt to submit a basic debt validation letter. Just make sure you send the letter within 30 days of CBE Group first appearing on your credit report.
2. Negotiate for the removal of the account
If you are unsuccessful in disputing the debt or the agency validates it, negotiation is your best strategy. Debt collectors will often accept payments that amount to a fraction of the actual amount you owe. When you negotiate a payment with CBE Group, you can ask it to remove the collections account from your credit report altogether.
Make sure you type or write this agreement so that you and the agency have the agreement on paper. This obligates the agency to honor the negotiations and remove the account as promised. It's important to monitor your credit score after you make payments to ensure the removal of the account. If the account still shows up on your credit report after a month, you’ll need to contact CBE Group again.
3. Work with credit repair experts to get CBE Group off your report
With the strategies above, you can work to remove CBE Group and its damaging effects on your own. An alternative is to employ the assistance of a credit repair company and let them take the reins.
A company like Lexington Law brings decades of experience to the table. Its professionals will handle all the dispute negotiations for you, and its team will deal with CBE Group and get the agency to remove the account from your credit report quickly and at a reasonable cost.
Dealing with CBE Group
Like most debt collection agencies, CBE Group has hundreds of complaints on file with the Consumer Financial Protection Bureau (CFPB). The Better Business Bureau (BBB) still gave CBE an A+ rating, even after receiving 323 complaints in the last 3 years. That’s why it’s vital to research what protection the FDCPA provides.
The FDCPA dictates how and when debt collectors can contact you and restricts them from sharing your information. It also allows you to set the terms of communication by giving you the option to request that all interactions with CBE Group are by mail. You should definitely take advantage of this provision, as letters provide further verification, which is critical in the credit repair process.
CBE Group contact information
You can contact CBE Group at:
- Address: The CBE Group, Inc., P.O. Box 900, Waterloo, IA, 50704
- Additional call center facilities: New Braunfels, Texas; Manila, Philippines; Overland Park, Kansas; Waterloo, Iowa
- Phone number: 800-925-6686
- Website: http://www.cbegroup.com
Update: This article was updated to reflect CBE Group’s current contact information and the number of BBB complaints against them.
Disclaimer: This story was originally published on July 2, 2020, 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/