How To Remove FactorTrust, Inc From Your Credit Report
FactorTrust, Inc could be hurting your credit score!
New Beginnings Credit Solutions can help you restore your credit and get your financial life back on track. They've helped thousands of people do it, so don't wait to get started.
A recent client of ours came to us with a request to clear up some confusion on her credit report. She told us that her credit report contained an collection from FactorTrust. It was listed with a negative score on the credit report and she was wondering what it referred to. While the client knew the address associated with this collection, she admitted that she had no idea why a business would be inquiring about her. Today, we will show you why FactorTrust is on your credit & how to remove it.
Who is FactorTrust?
You’ve probably never heard of FactorTrust, but it’s likely they have heard of you. FactorTrust is a third-party consumer reporting agency that specializes in providing credit reporting information to lenders in the subprime also known as non-prime market. As such, they are often referred to as, "collection agencies" or "consumer reporting agencies".
If you've received mail from this company—which can include a notice stating your account has been sold to them—you may be wondering how to get rid of them once and for all. And if so, it's important that you understand who exactly FactorTrust is and what their presence on your credit report means for your personal finances.
How did FactorTrust end up on my credit report?
FactorTrust is a consumer reporting agency like thousands of others. A consumer reporting agency is an organization that collects and provides information about the credit worthiness of consumers to creditors who use this information when making decisions on whether or not to extend credit.
Consumer reporting agencies collect information from a variety of sources, including lenders, landlords, employers and public records. This information is used to create a credit report for each consumer. If you don't want to remove the collection by yourself, then you should use a credit repair company! New Beginnings Credit Solutions is the #1 credit restoration company in Wisconsin and have helped thousands like you!
How can you remove FactorTrust from your credit report?
FactorTrust collections can hurt your credit score and remain on your credit reports for up to seven years regardless of whether you pay it or not. Even if you pay off the collection, it could actually lower your score! The best way to remove it is by hiring a credit repair company.
FactorTrust Contact Information
Address: P.O. Box 3653
Zip Code: 30023
Should I Contact or Pay FactorTrust
Once you've gotten the “bad news” from FactorTrust, it's time to make some decisions. Should you pay or not? What if you can't afford to pay? And what happens if you don't pay?
In fact, nothing good can ever come from speaking to a collection agency on the phone. Paying off your collection is even worse, as it could lower your credit score! The best way to get it off your report without waiting 7 years, is to hire a professional credit restoration service. New Beginnings is a highly rated credit restoration service in Wisconsin and have helped thousands like you!
Is FactorTrust harassing you with constant phone calls?
The Fair Debt Collection Practices Act (FDCPA) (15 U.S.C. § 1692 et seq.) which became effective on March 1978, was designed to eliminate abusive, deceptive, and unfair debt collection practices. These rules include but are not limited to:
Calling you before 8 in the morning or after 9 at night in your time zone
Call you repeatedly anywhere you are in the world
Contact you directly if you are represented by an attorney
Threaten and/or verbally harass you
When a consumer refuses in writing, to pay a debt or requests that the debt collector cease further communication, the collector must cease all further communication, except to advise the consumer that:
the collection effort is being stopped
Certain specified remedies ordinarily invoked may be pursued or, if appropriate, that a specific remedy will be pursued
Mailed notices from the consumer are official when they are received by the debt collector
Remove your FactorTrust collection from your credit report today!
It can be stressful to receive a collection notice in the mail, but it’s important to know that you have rights as a consumer. If you receive a notice from FactorTrust or any other collector – whether by phone or mail – make sure you understand what they are trying to collect and what action you can take. If you are not confident that you can do all this by yourself, you can always go the easy route & hire a credit repair company such as New Beginnings. They are a highly rated credit repair company in Wisconsin and have helped thousands like you get their credit back in shape! - Start Now
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