You’re getting phone calls or letters from a company called Revenue Enterprises, or maybe it’s listed on your credit report, and your score is taking a big hit as a result. What can you do? What should your next steps be? Is it a scam?
These are all common questions, and there are ways to proactively deal with Revenue Enterprises and get them off your credit report.
Revenue Enterprises is a debt collection agency. They act as a third-party debt collector. An original creditor would be the company or service provider a consumer initially worked with. For example, Revenue Enterprises collects primarily for healthcare providers, so the original “creditor” in this scenario would be the person you received medical services from.
Then, in theory, if you didn’t pay your bill to that medical provider, they might hire Revenue Enterprises to collect on their behalf.
Third-party debt collectors have to follow certain rules, particularly under the Fair Debt Collection Practices Act.
These rules include not calling you repeatedly or calling you before 8 a.m. or after 9 p.m. Debt collectors aren’t supposed to use threats, profanity, or harassment when contacting anyone about a debt, nor are they supposed to talk to a third party about the details of a debt, including family members or an employer.
The FDCPA prohibits using deception or misrepresentation to try and collect a debt or add additional fees onto what’s already owed.
Revenue Enterprises isn’t a scam—they’re a legitimate medical debt collection agency. Still, since they’re a third party, you likely haven’t heard of them until they start trying to collect from you.
Revenue Enterprises has been accredited by the Better Business Bureau since 2007, and they’re located in Colorado.
While they’re legitimate, as is true with many third-party debt collectors, there are consumer complaints against the company. Many consumers say they’ve had a hard time finding out more details about their debt or getting Revenue Enterprises to prove they own the debt and therefore have the right to try and collect it.
Some consumers say they’ve been unable to get this company to respond to different questions they’ve had or their disputes about debts they feel are incorrect.
Other complaints center around people who say they paid the money that Revenue Enterprises said they owed, but it remains a collections account on their credit report.
Revenue Enterprises collects for medical providers, so they have to follow even stricter rules than many other debt collectors. For example, they must follow the Health Insurance Portability and Accountability Act of 1996 (HIPAA). Any professionals, including debt collection agencies, using protected health information or collecting it have to follow HIPAA.
For example, because of HIPAA and other legislation called the HITECH Act, a healthcare provider isn’t allowed to disclose medical records or personal health information when working with a medical debt collector. That means that a healthcare provider can usually only disclose specific personal information like the debtor’s name, Social Security number, birth date, original account number, and payment history.
There’s a lot of room for errors in medical debt collection. The medical provider, since they are limited in what they can provide to a debt collector, might leave gaps in information.
Then, the debt collector tries to fill in those gaps with skip tracing, but they can and often do get it wrong. For example, if you have a similar name to someone or the same name and they also live near you, a debt collector might be trying to collect from you wrongly.
There are also other mistakes, such as insurance billing errors. Your insurance might have paid a bill, yet the medical provider has it on record as unpaid.
Broadly across debt collection, not just in medical situations, there are often other errors too. Your payment date, balance information, or some other piece of data could be wrong.
If you don’t take steps to correct wrong information, it can have a serious financial impact.
Debt collection agencies like Revenue Enterprises can report to the three major bureaus: Equifax, Transunion, and Experian. When Revenue Enterprises reports to these bureaus, it’s as a collections account. This is negative information because it indicates you have an account you didn’t pay, so it became delinquent and went from the original creditor to collections.
Having a collections account can drop your credit score significantly. When your credit score drops, you’re less likely to be approved for credit cards, loans, and other financial products. You could even have a hard time renting a home or getting certain jobs.
These reasons are why you must be proactive whenever you hear from a debt collector or see their name on your credit report. A consumer protection attorney can help.
Along with the FDCPA, you also have federal rights under the Fair Credit Reporting Act. The FCRA applies to everyone in the United States, and the FCRA focuses on how your personal credit information is collected and used.
For example, you have the right to know what’s listed on your credit report and to get a copy of your report for free each year from the three main bureaus.
You also have a right to dispute information that you believe is incorrect, whether fully or partially. When a dispute is submitted to a company, they are required because of the FCRA to investigate and, if necessary, correct or update wrong information.
While it might seem like you can handle a dispute on your own, consumers find it’s not easy to deal with a debt collector. Collection agencies are notorious for being unresponsive to disputes, so a legal representative tends to be the best way to get their attention.
Fair Credit is an FCRA consumer protection law firm, and we offer free case reviews. Reach out so you can find out what’s next to get Revenue Enterprises off your credit report and out of your life.