Paramount Recovery Systems on Your Credit Report? Fight Back and Win

Last Updated:
April 17, 2023

When you’re affected by Paramount Recovery Systems, whether it’s on your credit report or getting phone calls, it’s problematic for you. First, it’s stressful, especially if you think there’s an error. Second, if Paramount Recovery Systems is listed on your credit report as a collections account, there can be significant effects on other areas of your finances. 

You might be denied if you apply for credit or have to pay a higher interest rate because your score is lower. Your current accounts could be affected by drops in your credit score, too, like lower credit limits. 

If you want to get Paramount Recovery Systems removed from your credit report and stop getting calls, there are steps you can take, and also federal laws are available to protect you.

Is Paramount Recovery Systems a Scam?

Paramount Recovery Systems isn’t a scam. They’re a legitimate company that operates as a third-party debt collector. Because you aren’t familiar with the name until you start getting calls or see them on your credit report, it’s natural to assume it’s not legitimate. You aren’t familiar with the name initially because Paramount Recovery Systems doesn’t originate debt. Instead, they work for other companies on their behalf to collect debt.

The company has offices in both Waco and Lubbock, Texas. You can reach them by phone at 1-800-658-6481.

Who Does Paramount Recovery Systems Collect For?

Paramount Recovery Systems works in different industries. Companies that hire them to collect debts are in the medical industry, but financial companies and personal loan providers also do.

Why Did Paramount Recovery Systems Call Me?

If you get a call from Paramount Recovery Systems or any other form of communication, the company is trying to collect payment for a debt from you or contact you about a debt someone owes.

According to the Fair Credit Reporting Act (FCRA), anytime Paramount Recovery Systems or any other debt collector contacts you, they have to be transparent and let you know why upfront. While this is the law, not every collector is compliant.

As a result of the Fair Debt Collection Practices Act (FDCPA), there are other limitations on what debt collectors can and can’t say and do. The FDCPA specifically applies to third-party collectors like Paramount Recovery Systems, who work on behalf of another entity or individual to collect a debt.

For example, things that a debt collector can’t do include calling you early in the morning or late at night unless you give them permission to do so. Third-party debt collectors aren’t allowed to publicize your debt on social media, although they can reach out to you privately on these platforms. Debt collectors must always be transparent about why they’re contacting you. 

In general, a debt collector can’t use harassment, threatening language, or anything similar. You are responsible if you owe a debt but don’t have to live with certain behavior from a collection agency. 

If a debt collector isn’t complying with the FDCPA, you should talk to an attorney specializing in this area because it is an important federal law for all consumers.

Your FCRA Rights 

The FCRA outlines how certain information is reported to credit bureaus, how long it can stay on your credit report, and your rights to dispute incorrect information. The FCRA also allows consumers to see how their credit information is being used by employers, landlords, and financial companies. 

Specifically, your rights under the FCRA include:

  • You can request a file disclosure which includes all the information credit reporting agencies have about you. 
  • You can get a free disclosure if you’ve been the victim of fraud or identity theft or if someone has taken adverse action against you because of information in your credit file. 
  • Access to your credit information is limited under the FCRA. Consumers must provide consent for someone to check their credit report, even when they’re doing so for permitted reasons. 
  • You have the legal right to dispute the information, and the credit reporting agency has to investigate the dispute within a certain window of time. 
  • If an employer is going to access your credit information, you have to provide explicit consent. 
  • If information is used against you, you have the right to be informed. 

Under the FCRA, you also have the right to seek damages if a consumer reporting agency or anyone using that information violates the law. 

An FCRA attorney can be an excellent resource if you’re dealing with Paramount Recovery Systems and you’d like to dispute information they’re contacting you about. 

Disputing a Debt with Paramount Recovery Systems

If you believe there’s an error for any reason, and that’s why Paramount Recovery Systems is contacting you or is listed on your credit, contact an FCRA attorney. An FCRA attorney can handle the dispute process, ensure the company does the required investigation, and take any other needed steps. 

Some of the common reasons for errors related to your credit include:

  • You have a name or Social Security number similar to someone else’s, and your credit information gets mixed up as a result. 
  • The original creditor might have provided the wrong information about your account to Paramount Recovery Systems or a credit reporting agency. 
  • You’re an identity theft victim. 
  • A debt is old and should have expired from your credit report but is still listed. 
  • You’re listed as a debtor on an account, but you’re just an authorized user. 
  • You settled a debt or paid it in full, but it’s wrongly listed as charged-off. 
  • An account was voluntarily closed by you, but it’s reported as active. 

Get a Free Case Review

It’s difficult to deal with debt collection agencies or issues on your credit report. Fair Credit’s FCRA attorneys can help you navigate the stress and uncertainty of dealing with a debt collector, especially if you don’t believe you owe them money. If you want Paramount Recovery Systems off your credit report and for their calls to stop, we can help. Reach out today for a free case review and to find out the best next steps for your situation.

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