![]() It’s a good idea to familiarize yourself with your rights by reading the FDCPA and Telephone Consumer Protection Act. Accuse you of breaking the law or claim that not paying might result in jail time ( you can’t go to jail over unpaid debt, unless you owe money to the IRS because you intentionally committed tax fraud).Lie about your debt and try to collect more than you owe.Intimidate you or threaten to harm you, sue you, arrest you, or damage your credit.Contact any third party, including your family, friends, or coworkers, to discuss your debt.Make automated calls or send pre-recorded messages telling you to make payments.Call you at work if you tell them you can’t receive calls at work.Call you at night (before 8 am or after 9 pm, your time).The FDCPA protects you from debt collector harassment by making it illegal for debt collectors to do any of the following: 6 Restrictions on Phoenix Financial Services However, there are restrictions on how they can go about contacting you. Phoenix Financial Services representatives will keep trying to contact you unless you either pay the debt or reach an agreement with them. A statement informing you that within 30 days after you’ve received the letter, you can send them a written request to provide the name and address of the lender or healthcare provider that sold them the debt.A statement informing you that if you dispute the debt in writing, they must mail you evidence of the debt within the 30 days.A statement informing you of your right to dispute the debt within 30 days of receiving their letter.6 It must contain the following information: In accordance with the FDCPA, all debt collectors are required to send this letter within 5 days of first contacting you. When Phoenix Financial Services calls, ask them to send a written notice detailing the debt they’re collecting, known as a debt validation letter, if they haven’t already. The reason debt collectors call you is that they believe you have an outstanding debt. Why is Phoenix Financial Services calling me? Medical collections aren’t as harmful to your credit: Although medical bills do affect your credit score if they’re sent to collections, in newer credit scoring models developed by FICO and VantageScore (specifically FICO 9 and VantageScore 4.0), medical collections don’t hurt your credit score as much as non-medical collections.For this reason, the fact that your debt is showing up on your credit report may indicate that it was sold to a company that does report to the bureaus, although it’s possible the medical institution simply hired them as well. Phoenix Financial Services might own your debt: Medical institutions don’t generally report to the credit bureaus.3 After that, the credit bureaus wait an additional 1 year before adding the collection account to your report to give you time to make arrangements with your insurance company or set up a payment plan. Your debt is already more than a year old: Medical institutions usually wait 60–120 days before selling your debt to debt collectors.If you see medical debt on your credit report, there are a few implications you should be aware of: Medical and non-medical collections have some key differences in terms of how the debt is handled by debt collection agencies, the credit bureaus, and the main scoring models. Phoenix Financial Services often deals with medical bill collections. If you’re unsure whether you’re being scammed, contact Phoenix Financial Services on their website or using the contact info below to make sure you’re talking to a legitimate company representative and not a fraudster posing as one. 2ĭebt collection scams, however, are fairly common. They’re a legitimate company that was accredited by the Better Business Bureau (BBB) in 2015. No, Phoenix Financial Services is not a scam. Many of their clients are small or local, as Phoenix Financial Services itself is relatively small. They offer third-party collection services, but they also perform first-party accounts receivable recovery. ![]() Phoenix Financial Services primarily collects medical debt. Who does Phoenix Financial Services collect for? Phoenix Financial Services can also appear on your credit report under any of the following names: Unlike several of their competitors, they’re a strictly national organization that doesn’t use offshore call centers. Phoenix Financial Services is a debt collection agency that was established in 2014 and is headquartered in Indianapolis, Indiana. How to get Phoenix Financial Services off your credit report.How to file a complaint against Phoenix Financial Services.Why is Phoenix Financial Services calling me?.Who does Phoenix Financial Services collect for?.
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