Are you getting harassing phone calls and letters from a company called Nationwide Recovery Service? If you are, it is because they are trying to recover a debt that you have with another company. Nationwide Recovery Service will also appear on your credit report as a collection agency, which can damage your credit score.
Nationwide Recovery Service and other collection agencies are notoriously unpleasant to deal with, but their impact on your credit score is far worse than a stern letter. If you want to remove them from your credit report, you must deal with them in an appropriate way.
If you’re interested in removing Nationwide Recovery Service from your credit report, follow our how-to guide below.
What is Nationwide Recovery Service?
Nationwide Recovery Service is a debt collection agency that is collects a variety of debt including telecommunication, financial service, utilities, and medical bills. They are currently headquartered in Norcross, Georgia, but they were originally founded in 1979 in Texas.
Nationwide Recovery Service will appear on your credit report as a collection agency. This is because the original creditor of your debt has hired them to recover payments from you. You may find that the same debt is listed twice: once for the original creditor and once for Nationwide Recovery Service.
The word on Nationwide Recovery Service is that they are highly unpleasant to work with, and their customer feedback supports this. They have over 100 complaints filed with the Consumer Federal Protection Bureau (CFPB) and roughly 70 complaints filed with the Better Business Bureau (BBB.)
The majority of complaints are regarding Fair Debt Collection Practices Act (FDCPA) infractions, such as inaccurate debt reporting and failing to respond to debt validation requests.
How to Remove Nationwide Recovery Service from Your Credit Report
Millions of people remove negative entries from their credit report each year and you can too.
Follow the steps below to remove Nationwide Recovery Service from your credit report for good:
- Know Your Rights
- Validate the Debt
- Negotiate a Settlement
- Work with a Professional
Know Your Rights
Debt collectors don’t want you to know that the law protects you from abuse. This is because you are more likely to pay if a debt collector is harassing you or threatening you. The Fair Debt Collection Practices Act (FDCPA) was written to prevent abuse and intimidation as ways to obtain repayments.
The FDCPA is federal legislation that aims to regulate and govern the debt collection industry. It dictates when debt collectors can contact you, who they talk to about your debt, what they can say to you, and more.
Under the FDCPA, debt collectors may not:
- Contact you before 8 a.m. or after 9 p.m.
- Continue to call you after you specify that they stop
- Harass you or anyone else in regard to the debt
- Use abusive, aggressive, or profane language
- Contact your place of work
- Threaten legal action that they can’t or won’t take
- Misrepresent themselves when contacting you
- Misrepresent information regarding the debt
- Ignore a request for debt validation
Understanding your rights under FDCPA will set you up for success when dealing with Nationwide Recovery Service.
By arming yourself with knowledge, you can go into interactions with Nationwide Recovery Service representatives with confidence and assurance.
Validate the Debt
When a company calls you out of the blue and starts demanding money, it is logical to ask for some proof to make sure it’s legit. This is what is known as validating the debt. It is essentially putting the burden of proof on Nationwide Recovery Service to verify that the debt belongs to you.
The best way to go about this is to send a debt validation letter. There are templates on the internet that can help you write a proper debt validation letter so that you don’t leave out anything important. When you send the letter, be sure to specifically request a return receipt. This is how you know that they have received it and can file a complaint if they ignore you.
It is essential to send the letter within 30 days of Nationwide Recovery Service’s first contact with you. If you don’t, they may not respond to your request.
Nationwide Recovery Service should respond to your request for validation with documents and evidence that the debt belongs to you. If they are unable to provide this, you are no longer legally responsible for the debt.
They should contact all three major credit bureaus to remove the account from your credit report. If they do not, file a dispute with the credit bureaus yourself.
Negotiate a Settlement
If Nationwide Recovery Service successfully validates your debt, the next step is to negotiate a pay-for-delete settlement.
A pay-for-delete settlement is exactly what it sounds like. You offer to pay a portion of the debt in exchange for Nationwide Recovery Service to remove your collection entry from your credit report.
Debt collectors are often willing to settle for less than the full amount, but they will never tell you this. Start by offering to pay half of the balance in exchange for a deletion. Once you come to an agreement with Nationwide Recovery Service, get the agreement in writing so that it’s official.
Once you get the written agreement, make your first payment to Nationwide Recovery Service. Check your credit report 30 days after you make your payment to see if Nationwide Recovery Service still shows up on your report. If they do, reach back out to them and remind them of your agreement. It may also be worth it to file a dispute with the credit agencies.
Work With a Professional
If you are busy, you might consider outsourcing this process to a credit repair company. Credit repair companies specialize in removing negative accounts from your credit report. Their primary goal is to help you clean up your credit report so that you can reach your financial goals without a bad credit report dragging you down.
Credit repair companies will analyze your report and identify accounts that are causing your score to drop. From there, they will handle communicating with the debt collectors and removing negative items from your credit report.
Will Paying Off the Debt Help My Credit Score?
Unfortunately, simply paying the debt will not help your credit score or remove the entry. The entry will simply go from being listed as an active account to a paid account. Future lenders will still be able to see that you had a debt that moved to collections at some point. They can use this information to decide whether or not to approve you for a loan.
Once a collection account is added to your credit report, your score will be damaged for up to seven years unless it is removed. Removing the entry from your credit report is the only way to reduce the impact on your credit score. This may seem daunting, but it is entirely possible.
Removing a negative entry from your credit isn’t an easy process, but it isn’t rocket science either. Nationwide Recovery Service operates like any other collection agency, so they have the same process for removing entries. These simple steps will ensure that you have success in cleaning up your credit report.
The post How to Remove Nationwide Recovery Service from Your Credit Report appeared first on Better Credit Blog | Credit Help For Bad Credit.