It can be an upsetting experience to be contacted by a debt collection agency like Eagle Recovery Associates, but you're not alone in facing these kinds of financial troubles - in fact, up to a quarter of Americans have an account that is currently in collections.
That's why it's important to familiarize yourself with what the debt collection process looks like, as well as what options you have when dealing with debt collectors. Here we'll provide information and tips to help make managing your debt less daunting, so you can protect your financial future and gain back control over your finances.
Debt collectors, like Illinois-based Eagle Recovery Associates, are firms that specialize in collecting money from debtors who have defaulted on payments. They purchase consumer-owed debts from original creditors at a discounted rate, or receive a fee for providing collection services. Once they acquire the debt, they will contact the debtor and work to negotiate repayment plans and collect the full amount owed.
Depending on the situation, should negotiations fail to yield successful repayment terms, debt collectors may choose to use legal action as a means of obtaining payment. Regardless of the collection tactics used, collectors are required to act within a rigid set of consumer protection laws dictating their behavior.
Eagle Recovery Associates is a legit debt collector - they are not a scam. If you’re being contacted by this company, it’s important to tackle the situation head on. The company’s contact information can be found below:
If you're thinking of settling with Eagle Recovery Associates to get a debt off your credit report, it's essential to do your due diligence and check that the debt is legitimate. Making one payment on the debt - even if you later prove it is not yours - means you are liable for paying off the rest. Do not let Eagle Recovery Associates pressure you into paying. Know your rights, and reach out to our firm at Fair Credit for a free case review.
As a consumer dealing with debt collection activity, it's important to be aware of your rights. Enacted in 1978, the Fair Debt Collection Practices Act (FDCPA) outlines how debt collectors must treat consumers.
Under this law, it's illegal for collectors to use any type of aggressive language or tactics when collecting debts. An outline of some of the laws main prohibitions can be found below:
If Eagle Recovery has broken the law, then legal action should be taken against them. To make sure you have strong evidence in court, it is important to document any wrongdoings by the collector - so be sure to compile as much evidence against them as possible.
Additionally, to ensure that your case is properly handled and that you have effective representation, you should hire a lawyer who specializes in consumer law to represent you. Consumer law attorneys are knowledgeable about the regulations governing debt collection agencies and are highly qualified to provide valuable advice about your case.
Under the Fair Credit Reporting Act, you have the right to dispute any inaccurate information and request that it be removed if it’s not verifiable. The best way to ensure that a collections account is removed or updated is to dispute it with both the collection agency and the credit bureaus.
Here are some steps you can take to get the negative item removed from your report:
Additionally, make sure that you keep accurate records of all communication between yourself and creditors or collection agencies regarding this matter. This will help protect your rights under federal law and provide additional evidence if needed in future disputes.
If after following these steps, there are still inaccurate entries on your credit report, contact an attorney familiar with consumer protection laws who can represent you during the dispute process.
Nobody deserves to be taken advantage of by creditors who think the rules don't apply to them. At Fair Credit, we understand the unique challenges of dealing with debt collectors and are here to help you every step of the way.
Our team includes professional attorneys with years of experience in consumer law, offering free case reviews and tailored advice to help you take back control of your financial future. Don’t wait - contact us today and let us be your advocate.