There are different scenarios where you might check your own credit. It’s recommended that everyone check their reports with the three main bureaus at least once a year, which you can do for free. You might also check it to prepare for a big purchase or apply for a loan.
Regardless, if you see the name Complete Credit Solutions there, it’s likely causing a big drop in your score, leading you to wonder what you should do.
Complete Credit Solutions is a third-party debt collector, whether you see them listed on your credit report as a collections account or you’re getting calls and letters from them. A third-party debt collector isn’t an original creditor; instead, they’re a company contracted by the original credit to take over collections activities on their behalf.
If a person opens up an account with an original creditor and doesn’t make some of their payments, then the company might try to contact them on their own first. Eventually, usually after 120 days, the original creditor might give up trying to collect, instead outsourcing it to a third party like Complete Credit Solutions.
Complete Credit Solutions’ CEO is Bill Edwards. The company is based in Bedford, Texas.
Along with working on a contingency basis to collect debts on behalf of other companies, Complete Credit Solutions also buys debts. When someone defaults on their debt with an original creditor, the company might charge it off. Charging off debt means the company doesn’t believe it’ll be able to collect it.
A charged-off debt can appear on a consumer’s credit report, as can a collections account with the debt buyer.
Complete Credit Solutions is not a scam—they’re a legitimate company. Just because this company is legitimately a third-party debt collection agency doesn’t mean they’re contacting you about a debt you truly owe.
There’s a lot of room for error in debt collection, and a consumer protection attorney can work on behalf of a consumer to verify the debt in question and make sure that it’s legitimately owed, which it often isn’t.
Complete Credit Solutions has accreditation with the Better Business Bureau, but numerous consumer complaints have been reported against the company.
Consumers allege in these complaints that this debt collection agency violated their Fair Credit Reporting Rights by not providing written details about their debt and the company it originated with. Many consumers say they were never provided the original credit application they requested. There are also allegations that the company appeared on consumers’ credit reports without them first getting any other notice.
Some consumer complaints center around the fact that the accounts Complete Credit Solutions are reporting with credit bureaus are the result of fraud or identity theft, yet the collection agency hasn’t been responsive to their disputes.
As consumers, we have three credit reports of the most importance. These are with the following bureaus: Experian, Equifax, and Transunion. Our credit reports include detailed information about our financial histories, including our history of making on-time payments. Credit reports also include general account information about currently open and closed accounts.
Negative information on your credit report can stay there for seven years, during which time it can be hard to open new accounts, get a home loan, or even rent a home.
A collections account listed on your credit report is negative information. Thirty-five percent of your credit score is estimated to be based on your payment history, so if Complete Credit Solutions is listed as a collections account, it can be a red flag to lenders and other people checking your credit that you can’t be relied on to make on-time payments.
The information that led to a collections account on your credit may not even be right.
In some situations, people have names similar to one another, and their credit information gets mixed. The same can happen with similar social security numbers.
You might have paid the debt in question on time, but there was a mix-up somewhere along the way. It’s also possible for mistakes to happen on your actual credit report. An old debt could be listed as new, or one could be listed twice. Some debts that should have been removed because of bankruptcy continue to affect your credit.
Regardless of the specifics, having a collections account on your credit report is something you need to be proactive about dealing with because of the far-reaching financial ramifications it can have.
The Fair Credit Reporting Act, or the FCRA, allows consumers to dispute anything they believe is incorrect on their credit.
If you think that there’s a mistake with some or all of the debt Complete Credit Solutions is calling you about or reporting because of the FCRA, a dispute can be submitted, and within 30 days, the company has to investigate and update anything wrong.
Working with a consumer protection attorney is the best way to dispute wrong information with a debt collection agency. Otherwise, they might not be responsive, follow through with an investigation, or make updates to your credit report. This is a common consumer complaint.
You should also know that you have rights under the Fair Debt Collection Practices Act. The FDCPA is a federal law governing what third-party debt collectors can’t do, including Complete Credit Solutions.
The FDCPA prohibits harassment, threats, and intimidation.
Also not allowed are debt collectors who call during early morning or late night hours, repeat calls or back-to-back calls, or continue to contact your workplace when you’ve asked them not to.
If you want to stop calls from Complete Credit Solutions and effectively deal with the company so they’re no longer listed on your credit report, Fair Credit can help. We’re consumer protection attorneys specializing in the FCRA and protecting your rights. We offer free case reviews, so get in touch today.