I've mentioned several times the importance of really paying attention to our client's files. This is what separates the companies that are more automated, from the ones that actually read responses and act on them.
It is what we mean when we say we investigate accounts. We actually do 'investigate' these accounts. We track results.
Here's a great example. You are going to love this...
Ok, a little background.
Our client receives a debt validation letter, where Convergent Outsourcing is also offering a settlement. The settlement is attractive at 50% off. We challenge the letter by requesting more information on the account. Why because we want to ensure that the account is valid prior to considering any payments.
Here's the Debt Validation Letter:
Naturally, here's page two, the scary language, which they've hidden on the back of the page in hopes we don't see it...
So, out goes our letter addressing this collection. Which I will not be sharing. :)
Wrap your head around this:
Long story short, this client did what they were supposed to do. This is a partnership after all.
We did what we were supposed to do. Pay attention to our client's files and act based on our experience.
In summary, the collection agency bought this debt. They used fear to compel the individual to pay this debt, despite the fact they had no proof it was a debt that was collectible, or even accurate. As a matter of fact, our client NEVER had a Verizon Account.
Once Convergent realized we weren't going to be bullied, they deleted the account AND sold it to another collection agency. I suspect we will be getting another Debt Validation Letter from the new collection agency, and we will have to go through this again.
However, this time, when it happens, I will be providing all the evidence we have so far to the new collection agency, who has no idea we are paying attention this closely and remind them that what they are doing is a violation of the Fair Debt Collection Practices Act. Furthermore, I will be demanding a letter from them stating they WILL NOT resell this debt, which I will keep in my files for future use when it the debt gets sold for a third time.
Basically friends, there is a lot that goes into this process. Is this extra work? You bet. But well worth it in my opinion. Had we not been paying attention, this client would now have a $1,500 collection account on their credit report, that isn't a valid debt. Could you say in one fell swoop we saved them $1,500? You sure can. Did he pay for his service with us with this one instance? Sure did.
This could stop a mortgage in it's tracks. This could drop credit scores well over 50 points. This could be the difference between 2% financing and 12% financing. The ramifications of this one account could cost our client thousands and thousands of dollars had we not acted on this.
And this is why credit repair takes time. This account may resurface next month, or in six months.
Or never. Which is why we can't make promises.
Can you do this yourself??
Do you want to?
Be well friends,
Ed-Jack Dvorak is National Affiliate Liaison at Credit Dr., a national credit restoration company. He works with clients and creditors to improve credit profiles.