Pendrick Capital Partners on Your Credit Report? Fight Back and Win

Last Updated:
September 25, 2023

When Pendrick Capital Partners is listed on your credit report or calling you, it can be stressful and intimidating. How you deal with them is important, and it’s often best to work with a consumer protection attorney to get a debt collector off your credit report and stop their phone calls.

What Is Pendrick Capital Partners?

Pendrick Capital Partners is a debt collection company that buys medical debt. Medical debt includes anything owed after receiving medical goods or services. In general, this can include anything owed to a medical provider that isn’t past due yet but also amounts that are delinquent and sent to a collections company like Pendrick Capital Partners.

According to a report by the Consumer Financial Protection Bureau, nearly 60% of all the debt currently in third-party collections in the United States is from medical bills. There are an estimated 43 million adults in America with medical bills listed on their credit report, accounting for around $88 billion in outstanding medical debt.

Even when consumers have health insurance, it often doesn’t cover all medical care costs. There’s almost always going to be some out-of-pocket cost, like deductibles, copays, and coinsurance. When a consumer’s health insurance doesn’t pay for all the costs of medical services received, that person is responsible for their remaining balance.

Any healthcare service can lead to medical debt, including emergency room visits, hospitalizations, diagnostic tests, and outpatient care. When someone can’t or doesn’t pay their medical bills, it leads to bad debt.

Hospitalizations are one of the most common types of service that lead to medical debt since these stays are often surprising and can’t be planned for or budgeted for.

Consumers have rights when it comes to any debt, including medical debt. If you have a medical debt that goes to a collection agency like Pendrick Capital Partners, it’s usually only after it’s at least 90 days past due. You can only be contacted about debts you owe, and mistakes are more common than you might realize.

Some debt collection agencies or health care providers will use law firms to try and recover debts, including the filing of a lawsuit or getting a judgment against someone. If a medical provider or debt collection agency gets a judgment against someone for nonpayment in some states, it then gives them the right to garnish wages or bank accounts.

Plus, if you have a debt that’s delinquent on your credit report, it can negatively affect your credit score.

All of these are why you need to take phone calls or collections reporting from Pendrick Capital Partners seriously and potentially work with a consumer protection attorney. Even if you think there’s been an error, you can’t ignore it and hope it goes away.

Is Pendrick Capital Partners Legitimate?

Pendrick Capital Partners is a legitimate company and not a scam. The company was founded in 2010, and they have collected billions in debts that were originally with physician groups, ambulance companies, and hospitals.

Pendrick Capital Partners operates differently than some other third-party debt collectors that work on a contingency basis. Instead, Pendrick Capital Partners buys medical debts outright after the original service provider decides to charge them off, meaning they don’t believe they can collect them. A company like Pendrick Capital Partners will buy the debts for less than what they’re worth and then try to collect as much as they can on them.

While Pendrick Capital Partners is legitimate and not a scam, there are many complaints about this company with the Better Business Bureau.

For example, some consumers feel that they are being contacted by this company about a debt that’s not theirs, and some feel that the information came from a data breach.

Quite a few consumers say they had no idea that they owed any money or had a debt that this company was trying to collect until they were trying to make a big purchase, like buying a home. They saw the company listed on their credit report, or they were denied because of it.

There’s something called skip tracing that can become especially problematic. Skip tracing is when debt collection agencies like Pendrick Capital Partners try to match consumer information to debts they buy, but it leaves a lot of room for errors. This means you might have negative information on your credit report or receive calls about a debt that’s not yours altogether.

Correcting Wrong Information with Pendrick Capital Partners

Under the Fair Credit Reporting Act (FCRA), consumers have the right to dispute information on their credit report that’s fully or partially incorrect. Then, once a dispute is submitted, the company that receives it has 30 days to investigate and make necessary updates or corrections. While this is a federally protected right, debt collection agencies aren’t always compliant.

If you want to submit a dispute with Pendrick Capital Partners, often the only way to get them to take notice and realize you’re serious about protecting your rights is to work with a consumer protection attorney.

If you don’t have the information corrected and your credit score drops, it can make it impossible to open up new credit accounts, buy or even rent a home, or buy a car, and it can affect your ability to get certain jobs.

Along with the FCRA, consumers also have rights under the Fair Debt Collection Practices Act (FDCPA). The FDCPA says that a debt collection agency, even if you owe a debt legitimately, can’t:

  • Use harassment as an attempt to collect
  • Be deceptive or present wrong information
  • Be unclear about the debt that you owe
  • Make threats
  • Continue to contact you after you ask them not to
  • Talk about your debt with third parties like your employer or family

Get Help with Pendrick Capital Partners

If you’re tired of being affected by Pendrick Capital Partners, Fair Credit can help. Our team of attorneys specializes in the FCRA and ensures your rights are safeguarded. Contact us today for a free case review so you can move forward.

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