After suffering from a poor credit report for years, Mark Clayborne went on a mission to study everything he could on restoring his credit. Concluding the extensive research, he repaired his credit report and learned various hidden secrets on how to improve a bad credit file. Because of this new found tested knowledge, Mr. Clayborne helped over a hundred consumers repair their credit and take their financial life back. Now, he wants to share these strategies with the world and as a result HIDDEN CREDIT REPAIR SECRETS was created which has sold over 1000 copies as of today. Mark is a certified credit consultant with over 100 articles written in the area of credit repair and a successful radio show titled “Who Else Wants Better Credit”, which is aired on Blog Talk Radio every Tuesday & Thursday at 7:30PM-PST. Mark educates his customers through articles, videos, his blog and various credit repair kits. He graduated from Virginia Commonwealth University with a Bachelor's Degree in Criminal Justice. He also holds a paralegal diploma. He currently lives in sunny California with a beautiful wife and lovely daughter.

1. Hiddencreditrepairsecrets.com
Presents
Collection Agency - 6 Questions and
Answers You Should Know

2. It's unbelievable how many questions
on a daily basis I receive about
collection agencies. In this article, I
will share with you some of the
common questions I receive about
collection agencies.

3. What is a collection agency?
Answer:
Collection agencies are third - party
companies that use aggressive tactics to
collect outstanding debts from consumers.
Old debts are either assigned or sold to the
collector by a creditor. If the debt is
assigned, once the collector obtains the
money, a percentage of it is kept by the
agency, and the remaining goes to the
creditor. If the collector buys debts for 10
cents on the dollar, they own it, and they will
want 100% from you.

4. Why was my account turned over to a
collection agency?
Answer:
* The bank could not locate you or
contact
you
* Your debt is over 120 days late
* You moved out - of - state and they
still
can't reach you
Those are the primary reasons why a
lender or a credit card company would
assign or sell your debt to a collection

5. What if they did not respond to my validation
letter?
Answer:
Pull your credit report to see whether the
collection agency has reported the
outstanding debt. If the bill is there, send the
collector a certified letter with a return
receipt stating that they have violated the
FDCPA by collecting and reporting negative
information on to your credit report without
validating it.

6. In your letter, demand that they delete the
information immediately, and include copies of
the first certified return receipt mailing and
your letter you sent. Give them 16 days to
respond to your demand. In the meantime, write
a letter to the credit bureau asking them to
delete the damaging item because the collection
agency was not able to verify the debt.

7. During this time, if the collection agency has not
responded or has not deleted the incorrect item,
file a complaint with the FTC and your local
attorney general's of fice. Wait for the credit
bureau to respond to you. If they respond saying
that the negative item was verified by the
collection agency, then it may be time to take
legal action. With enough grounds, you can sue
them for Defamation and violation of the FDCPA.

8. They responded to my validation letter with a
summons. What should I do?
Answer:
Write back to them stating that they cannot sue
you if they have not validated the debt. If the
debt goes to court, argue that the collection
agency did not validate the debt according to
the law.

9. I don't have the money to pay, what can I do?
Answer:
Send the debt validation letter. If comes back
validated, set up a payment plan right away to
avoid the debt from damaging your credit report
using the negotiation strategies in chapter four.

10. How did the collector find me?
Answer:
They use an investigative technique called skip
tracing. The agency uses computer databases
that give them access to your credit report,
current and past addresses, voter registration
card, DMV records, and other sources with your
information on it.

11. As you can see that there were many questions
and answers listed above. I hoped this
information will give you a better understanding
of dealing with a collection agency. Now that
you are empowered with new information, go out
there, and take action.

12. If you are ready to say goodbye to
credit rejection and debt collectors,
visit hiddencreditrepairsecrets.com
and sign up for the Free 8-Day E-Credit
Repair Course, and claim your Free
Gift-60 minute Podcast on Rebuilding
Your Credit
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