Coast to Coast Collections, also known as Coast to Coast Financial Solutions, is listed on your credit report, dragging down your score, creating stress in your life, and causing financial setbacks. What should you know, and what can you do?
Coast to Coast Collections, or Coast to Coast Financial Solutions, is a third-party debt collection agency. The company's offices are in California, but they offer debt collection services throughout the country. Debt collection is also sometimes referred to as accounts receivable management.
Coast to Coast Collections is not an original creditor. An original creditor would be a company you had an account with or got a service from. Then, if you didn't, in theory, make payments as agreed, that original creditor might turn to a third-party collection agency like Coast to Coast Collections as a way to outsource debt collection.
It gets somewhat confusing for consumers to know to whom they owe money because, along with third-party debt collectors who work on a contingency fee, there are also agencies who buy debt from other companies.
Third-party debt collectors are limited in what they can do as part of the Fair Debt Collection Practices Act. According to the FDCPA, debt collection agencies like Coast to Coast Collections aren't allowed to use threats, intimidation, profanity, or harassment in attempts to collect debts. When a debt collector contacts someone, they must be transparent about who they are and why they're calling.
They can’t misrepresent themselves, their company, or any information related to the debt they're calling about.
Debt collectors can't call before 8 in the morning or after 9 in the evening, nor can they call someone's employer, except to verify identity. If a consumer tells a debt collector not to contact them at work, they have to stop, and they can't call repeatedly or talk about their debt to other people, like their family members or employer.
When someone contacts you about a debt, they are supposed to provide a notice that includes the amount of the debt, the original creditor’s name, and a statement of the debt's validity. Unfortunately, while this is a requirement under the FDCPA, many collection agencies are non-compliant.
Debt collectors aren't allowed to ask you to pay more than what's owed or pay more fees or interest than what's in your agreement originally.
Coast to Coast Collections, a.k.a. Coast to Coast Financial Solutions or C2CFSI, collects in many different industries, including:
It's tough to know whether companies are legitimate, especially if they're contacting you and telling you that you owe a debt, but you've never heard of them. Coast to Coast Collections or Coast to Coast Financial Solutions is legitimate, not a scam. They're members of industry groups like the California Association of Collectors and the American Collectors Association.
They're a Better Business Bureau-accredited business, but even so, there are numerous consumer complaints against them.
Consumers frequently allege that despite being the victim of fraud or identity theft and consistently reaching out to Coast to Coast about a collection account on their credit, they haven't gotten a response or resolution. Some consumers say that they've tried to work out payment plans with the company, only to be told the only option is to pay it in full, which they can't do.
Some consumers generally say they got no notice beforehand only to find this company listed as a collections account on their credit report, even though debt collection agencies are legally supposed to provide notice before reporting to credit bureaus.
There are three major credit bureaus. Coast to Coast can report negative information to one or more of them.
When a consumer has a collections account listed on their credit report, it can impact their life significantly. A collections account on file can show other creditors that a consumer doesn't make their payments on time or might not be a good person to lend money to.
Your payment history makes up around 35% of your credit score, so even if there's been a mistake, your score is likely to drop significantly if Coast to Coast is reporting negative information and you don't dispute it.
Having a low credit score means you could be turned down when you try to rent a home, if you attempt to get a loan, or if you want to open a new account like a credit card.
It's also possible that debt collection agencies will sue a consumer if they don't pay. If a debt collector sues and wins, they might have the right to draft money directly from a person's bank account or garnish their wages.
Being proactive is important when dealing with a debt collector, including Coast to Coast Collections. A consumer protection attorney can be a good resource in these situations.
The Fair Credit Reporting Act is another law protecting consumers in the U.S. related to how information is accessed from your credit file. Under this law, if you believe something is incorrect on your credit report, debt isn't yours or is the result of fraud, you can dispute it.
Once a dispute is submitted on your behalf, the company receiving it has 30 days to investigate and then update the wrong information or remove it from your credit report.
Unfortunately, debt collectors are notorious for not responding to disputes or not updating information accordingly.
A consumer protection attorney can help you get these companies' attention and ensure they comply with the FCRA.
If you'd like a free case review to come to a resolution with Coast to Coast Collections, please contact Fair Credit. Our FCRA attorneys can help you break free of the constraints of having this debt collection agency calling you or being listed on your credit report.