If Phoenix Financial Services has all the correct information about your debt, your next option is to make a pay-for-delete agreement. The law requires Phoenix Financial Services to remove the entry and dismiss the debt. If this happens, you can file a complaint with the three major credit bureaus. However, make sure to comb through this information and note anything that seems inaccurate, because their information may not line up with what you have. You must send this letter within 30 days of the first contact with Phoenix Financial Services, as it may ignore your request if it’s sent too late.Īfter you send the debt validation letter, the debt collector should return with proof that the debt belongs to you. This is a formal request for the company to confirm various details of your debt, such as the name, date and amount of the debt. To request debt validation, you will need to write a debt validation request letter. That’s why it’s important to verify the information as soon as you can. This process can identify if there is any inaccurate information tied to your debt, as it’s common for information to get lost as it moves from the original creditor to Phoenix Financial Services. Under the Fair Debt Collection Practices Act (FDCPA), you have the right to request that the debt collector confirm that the information is correct. You can do this by checking for inaccurate or incomplete information through a debt validation request. Alternatively, you can try to get the debt deleted on a technicality. Goodwill deletions aren’t always possible. If a debt collector can see that you were going through a hard time and simply couldn’t make the payment, it may inspire sympathy. You should also explain why you would like the entry removed, such as wanting to qualify for a mortgage or a car loan. To request a goodwill deletion, you will need to write a letter to Phoenix Financial Services and explain the reason for your late payment. If they can see that it was a one-time occurrence, they may be willing to wipe the slate clean. A debt collector is more likely to grant you a goodwill deletion if you are in good standing with your current creditor. You may be able to get the collection entry removed from your credit report by asking for a goodwill deletion.Ī goodwill deletion is when a debt collection agency deletes an entry from your credit report out of goodwill. If you have already paid the debt to Phoenix Financial Services, you may be worried that you don’t have any bargaining power. Here are the fundamental steps you can take to remove it from your credit report and get your credit score back on track. The only way to prevent extensive damage from Phoenix Financial Services to your credit report is to remove its entry as soon as you can.
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How to remove Phoenix Financial Services from your credit report Why wait? Click below to repair your credit today! Most debt collectors have complaints against them, but Phoenix Financial Services certainly has more than the average.ĭispute inaccurate negative information in your credit historyĬredit Saint is equipped to deal with any past credit mistakes that are weighing your score down. The majority of these complaints are concerning harassment, failure to validate debts and inaccurate reporting, all of which violate the Fair Credit Reporting Act (FCRA) and the Health Insurance Portability and Accountability Act (HIPAA). There are roughly 950 complaints filed with the Consumer Financial Protection Bureau (CFPB) and over 300 with the Better Business Bureau (BBB). It may show up on your credit report under various names, including:ĭespite only being six years old, Phoenix Financial Services has a significant number of complaints.
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