You’ve checked your credit report, probably because you do it regularly to make sure there aren’t errors or because you’re getting ready to apply for a loan or credit. When you do so, you’re surprised when you see the name Absolute Resolutions Investments LLC listed on it, or maybe it’s written as Absolute Resolutions Corporation or ARC.
When there’s a collections account listed on your credit report, whether with one credit bureau or all three, it causes your score to drop. Your credit score is what financial companies and lenders use to decide if you’re creditworthy, or in other words, whether or not they’re willing to lend money to you. It also plays a role in the interest rate they offer.
Having something on your credit report that’s negative is stressful and can have far-reaching effects on your life.
You might also be getting calls from Absolute Resolutions Investments, which is frustrating as well.
We outline the steps you can take if you find yourself in a similar situation.
Absolute Resolutions Investments LLC, also known as Absolute Resolutions Corporation, is a consumer debt collection company. They’re a third-party debt collector, so they’re not the company someone originally gets credit from. Instead, companies hire them or sell debt so that Absolute Resolutions Corporation can then collect it.
If you’re getting phone calls from this company, they believe you owe a debt. They may be listed on your credit report already, so if you haven’t checked it lately, you should if you start to get these calls.
The primary types of debt that Absolute Resolutions Investments tries to collect are related to credit cards, including bank and retail cards, installment loans, and bankruptcy debts. They also collect on purchase financing and for debts related to utility services.
If your first introduction to this company is because they start calling you, you may wonder if it’s a scam. After all, most of the calls we get from numbers we don’t know do end up being a scam. Absolute Resolution Investments is not a scam, though. They’re a real company, and their offices are in Bloomington, Minnesota.
Absolute Resolutions Investments isn’t accredited by the Better Business Bureau, and there are a number of negative customer reviews and complaints against them.
Many of the negative consumer reviews are about people who feel they’re being contacted nonstop over debts they don’t owe. Consumers say they’re dealing with stress and frustration, and they can’t seem to get the situation resolved with Absolution Resolutions.
There are people who say that they weren’t provided with the original contract information that they requested. This is important because of the Fair Credit Reporting Act (FCRA) and also the Fair Debt Collection Practices Act (FDCPA).
Debt collection is regulated in the United States, primarily under these two broad federal laws.
The FCRA focuses primarily on how financial information is reported and used. The FDCPA is about how debt collectors behave—for example, they’re limited in that they can’t use harassment or threats when they contact consumers.
Both laws require full transparency on the part of debt collectors. They’re required in the process of trying to collect from consumers to provide them with full details about their debt.
Debt details should show consumers the original debt and who it was with, as well as other details about the account that they need to determine if it’s their debt and, if so, whether they are required to pay it.
When a debt collector doesn’t provide this information, they’re in violation of federal laws.
When you don’t have debt validation information, then you don’t know if you should pay or dispute a debt, nor do you know if the information that you’re being contacted about is even accurate.
The best course of action before speaking to a debt collector or taking any other steps is to contact an FCRA attorney.
You’d think that with something as important as your credit report, the information is going to be accurate. In reality, credit bureaus get information reported that’s inaccurate all the time, so as a consumer, you have to be vigilant about checking it on a regular basis.
Errors on credit reports frequently include:
If there’s an error on your credit history, under the FCRA, by contacting an attorney who specializes in this area, they can take all the needed steps to despite it. If your dispute was correct and you don’t owe the debt for any reason, it should be taken off your credit report, or information should be updated accordingly.
These are your legal rights as a consumer, but you might have found yourself in a situation where you aren’t getting a response, or a debt collector isn’t following through with what they’re supposed to do. Then, getting the negative information off your credit report becomes harder, but an FCRA attorney can help.
If you try to take steps to fix an issue with Absolute Resolutions Investments without consulting an attorney first, it can make the situation more difficult. For example, talking directly to the company without an FCRA company representing you or managing your dispute can make the statute of limitations on the debt start over.
If you’re tired of dealing with Absolute Resolutions Investments and you want them off your credit report and no longer contacting you, we can help. Fair Credit is a firm of attorneys specializing in the FCRA. We offer free case reviews so that we can help you move forward without the burden of having this company’s report lowering your credit score.