CBE Group And Low Credit Score: Do you have unpaid bills that are left unnoticed? That must be the reason why CBE Group is after your back. Once a collection account appears on your credit report, expect a significant drop in your credit score. This occurrence might give your credit a bad history. So is there a possible way for you to get rid of them? There are several.
You must have received phone calls after phone calls from CBE Group. Dealing with them can be tricky, but you must do it as quickly as possible. Knowing what CBE Group is and why they are hurting your credit score might work to your advantage. Read more below to learn how you can remove them from your credit report:
About CBE Group
Based in Cedar Falls, Iowa, CBE Group is an authorized debt collection agency operating since 1933. They are one of the profitable debt collection companies in the United States, with over 1,300 employees. The CBE Group is slowly showing exponential growth throughout the years as they have utilized both first and third-party collections.
CBE Group has built partnerships with the IRS and the USDE or the United States Department of Education to collect federal taxes and student loans, respectively. That is why strategically dealing with scheming debt collection companies such as CBE Group is important. They may also appear in your credit report as the following:
- CBE Group, Inc.
- CBE Companies
- CBE Group Collections
- CBE Collections
- CBE Group Verizon
How Does CBE Group Work?
CBE Group issues collection services to several sectors:
- Telephone services providers
- Healthcare sector
- Private lenders
- Government-owned or accredited education lenders
- Delinquent tax bills
Their services are divided into four sections: first-party collection, third-party collection, batch skip tracing, and fraud detection services. CBE Group also manages both consumer and corporate websites. However, neither provides details about their policies regarding regulatory compliance.
CBE Group will call you and send you emails nonstop until payment is made. Unsettled debts can go from a simple $30 cable bill balance to huge amounts of college tuition. Once collection accounts are issued by companies such as CBE Group, this can hurt your credit score for as long as seven years.
How To Remove CBE Group From Your Credit Report?
It can be tempting to directly answer CBE Group’s phone calls and emails. Or you might decide that it’ll be easier to pay them. But removing CBE Group from your credit report isn’t as easy as those mentioned above. It might help if you follow the strategies below to ensure that CBE Group will no longer chase after your credit score.
Demand For A Debt Validation
With the FDCPA’s help, debt collectors must issue proof when a debt validation letter is submitted to them. Under consumer rights, you can enjoy the privilege of a free credit report filed by the three major credit reporting bureaus.
Submitting a debt validation letter will not be in vain, as most debt collection companies don’t have adequate proof that debt exists. If CBE Group fails to send you proof of debt, they should then remove the collection account from your credit report. Remember to do this step within 30 days after CBE Group’s first appearance on your credit report.
Offer Pay-For-Delete Agreement
If you are financially stable, paying CBE Group in exchange for account removal may work for you. CBE Group might agree to this proposal as they will be receiving full payment. If they accept your offer, be certain to ask them for a written confirmation before sending any amount of money.
This measure is done so you’ll have a legal safety net when CBE Group fails to keep their part of the deal. As pay-for-delete agreements aren’t legally enforceable, you have nothing to back up your claims, if worse comes to worst, without written proof of agreement.
Submit A Letter Of Goodwill Deletion
After verifying that the debt is yours, you can pay the debt and request a goodwill deletion from CBE Group. This letter of request can help delete collection accounts in your credit report.
In your letter, calmly explain why you weren’t able to settle the debt on time. Major circumstances such as an accident, death of a loved one, disability, or prolonged unemployment time may be up for consideration. If you have enough documentation that can support your claim, this may make your case much stronger.
Seek An Expert’s Help
Letting a credible credit repair company take the reins and fix your credit report troubles on your behalf might be the best way to go. Professionals such as them have enough experience to counter any claims made by large debt collection agencies such as CBE Group. Seeking their help not only quickens the process but also saves you from unnecessary frustration.
Ignoring debt collection companies such as CBE Group is never a good strategy. Dealing with them using the steps mentioned above is the best route for you to take. Never let CBE Group harass your credit report and act now.