Nobody likes the anxiety of having someone chase them down due to unpaid debts. These things happen to people for various reasons, and if you’re under a lot of stress due to being chased or threatened by debt collectors, do not be intimidated. Instead, know the laws that could protect you, as these could be your standing point to save yourself from your debt. In this article, we'll cover the laws regarding an individual's debt; if you need to know about specific additional laws for a business debt, check out this helpful guide.
If you have a debt, you address it immediately and find a solution to lessen the risk and consequences. Having a lot of debt will never be healthy for a person, especially if you are not rich enough to pay for your bills. Being in debt gives you a whole lot more responsibility for fulfilling your payment on time.
You might be familiar with a debt collector called Covington Credit if you ever had an overwhelming amount of debt. If you are contacted by Covington Credit and need help and information about the company, read below.
What is Covington Credit?
Covington Credit was established in 1994 and is managed by its CEO Robert F. Bloom. It is a debt collection and financial services company located in Georgia and a presence in Oklahoma, Alabama, South Carolina, Texas, and Tennessee. Also, they have numerous employees from across its different branches around the globe.
Covington Credit affiliated companies provide the type of loans that often end up in debt collections. Additionally, it is not only painful to deal with, but it could also cause damage to your credit scores. Whether full or not, settling your debt may not benefit your credit because once a collection account is already added to your credit report, your credit scores will be affected and damaged regardless of your payment.
Also, Covington Credit creates an impact on any of your future personal finance decisions, such as applying for a new credit card and any other loan applications. Luckily, you have options.
What to do when Covington Credit contacts me?
When Covington Credit contacts you, whether by email, credit report, or via phone call, you’ll need to take it earnestly. If they call you, do not provide any information or answer questions about you and listen to what the representative says. Also, don’t forget to take notes.
Be vigilant and aware that every phone conversation between agencies is recorded and can be used against you. Be smart in your responses. Make contact with the company through the mail, and remember that you should be the one asking them questions.
What do I do if Covington Credit harasses me?
If you think Covington Credit has gone overboard asking you to pay the debt, you can sue them for FDCPA violations and make them pay for $1000. You can sue them for the following reasons:
- Threatening you to pay and get all your things at home
- Using an autodialer to contact
- Calling again and again after being asked to stop.
When a collector fails to strictly follow the law when asking you to pay your debt, they could be the one who would end up owing you more money instead. It is against the law if you harass your consumers and you may end up receiving $1000 per FDCPA violation. To learn more on how to deal with Covington Credit, you may check on this link https://www.crediful.com/collection-agencies/covington-credit/.
Complains concerning Covington Credit
Covington Credit has received two complaints filed with the Consumer Financial Protection Bureau (CFPB) and Better Business Bureau with over 100 complaints. Most of the reports are due to inaccurate reporting and or lack of response about debt verification requests.
Is it possible to remove Credit from my Credit Report?
Consumers usually find out about an account of Covington Credit or any other collection agency through their credit report. It makes consumers contact the collection agency, but you don’t have to panic about this, which is just normal and part of the process. Listed here are some steps on how you could remove Covington Credit from your Credit report:
- Try to request a Goodwill Deletion
If you have paid for your debt, you can now request a goodwill deletion. A goodwill deletion happens when Covington Credit agrees to stop already reporting debt out of generosity, but only if your debt is paid and you don’t have any late payments since then.
- Validate your Debt
If you haven’t paid off your debt, you can try asking Covington Credit to look for inaccuracies in reporting. There are instances that debt collector companies have the wrong creditor name and the right debt amount. Always double-check for it may not belong to you and write a debt validation letter.
- Have an agreement of a pay-for-delete settlement
A pay-for-delete is a way of agreeing that you pay for your debt in Covington Credit, and in exchange, they delete their entry of your credit report.
- Hire a professional or an Attorney
It could be challenging to negotiate with a debt collector, especially if you have very minimal knowledge about it. Try to look for professionals like a credit repair company who could help you understand your situation more.
How do I deal with a Covington Credit?
Let’s face it; no one enjoys dealing with debt collectors. Fortunately, there are proper ways on how to handle them. You must take the right steps to minimize the impact on your credit scores. Try addressing your Covington Credit as early as possible to help you get back on track and improve your credit scores.
Takeaway
Not being able to clear your report may make it difficult for you to get approved for any future lines of credit or financial accounts, so make sure to pay your debts, always make sure that you know, and validate if it’s really in your account. There are plenty of ways on how you could deal with it; always know your options.
