Collect America Phone Number & Mailing Address 4340 S. Monaco, Second Floor Denver, CO 80237
Collect America Phone: 303.296.3345 or toll-free 800.478.5541
Collect America's Website: http://www.collectamerica.com/
Who is Collect America?
Collect America was founded in 1994 in Denver, Colorado. It’s a collection agency who buys delinquent or non-performing debt from creditors. If they contacted you, chances are they are trying to collect on credit card debt, a defaulted auto loan, a consumer loan, bad checks, unpaid medical bills or commercial debt.
How to Deal with Collect America and Fix Your Credit History
First, know that Collect America is a considered a “junk debt” buyer. Junk debt buyers purchase charge offs from creditors or other collection agencies for pennies on the dollar – often costing these companies as little as 25 cents for each $100 in face value!
Companies like Collect America make their money by attempting to collect more than they paid for the debt, and even if they are successful at recovering only a small fraction of the debt, they make a huge profit.
How to Avoid Getting Scammed by Collect America's (dirty) Tricks
When the statute of limitations has expired, as is often the case with old debt, Collect America may try to “re-activate” the accounts by pressuring the consumer to pay at least some small amount on the debt.
In other words, you might have no legal obligation whatsoever to pay an old debt. However, just by making a payment - no matter how small - you restart the clock and cannot use the Statute of Limitations as a defense.
Getting you to slip up like this is exactly what the Collect America's bill collectors want you to do!
These over zealous collectors may, in some cases, even walk the fine line of aggressive and illegal tactics.
Here's another trick to watch out for: They could reactivate an account by misreporting either the date of last activity on the account or a debt that was already discharged in bankruptcy.
Collect America Trashed my Credit History!
Collection agencies like Collect America might also report the same debt several times on your credit report, and you’ll see that the same amount appears under the original creditor’s name, that of any collection agency handling the account after that, AND as an entry by Collect America!
By this time, your credit score is in the dumps and you're fighting just to get the bad credit removed from your credit history. (Items like these will keep you from getting a job, auto insurance, and approved for new credit like a home or auto loan.)
Options to Get Rid of Collect America This is a situation where you should pursue debt validation and know how to dispute credit items on your report.
The first step is to NEVER ACKNOWLEDGE the debt with Collect America until the collection agency validates the debt. Debt validation can be a useful tool in managing the negative effects to your credit report.
Creditors usually send you a written notice within five days of their first phone communication with you, and this letter might already contain the debt collection notice. The key to disputing debt through debt validation is to dispute the debt in writing within 30 days. Any time after this, Collect America Collection Agency can assume the debt valid and collection efforts will continue.
THEREFORE, TIME IS OF THE ESSENCE! IF YOU'RE AT ALL CONFUSED ABOUT HOW TO USE DEBT VALIDATION TO GET RID OF COLLECTION AGENCIES, GIVE THESE GUYS A CALL: 1-800-232-2903. (FREE CALL)
If you prefer to tackle all of this yourself, then here is what you do: (a) You must submit a debt validation letter quickly, in writing, and via certified mail, return receipt requested. In it you can dispute all or a portion of the debt and can request the name of the creditor who contracted the debt collector or sold the debt. (b) The collection agency must provide proof that it is the owner of the debt or has been assigned the debt, and must also furnish documentation from the original creditor, not merely a statement with an amount owed.
Why Debt Validation Works
Now, the advantages of debt validation: IF THE DEBT COLLECTOR CANNOT VERIFY THE DEBT WITHIN 30 DAYS, THEY MAY NOT CONTINUE TRYING TO COLLECT THE DEBT AND THEY MAY NOT LIST A COLLECT AMERICA COLLECTION ON YOUR CREDIT REPORT!
If they do list the collection item on your credit report, you can send a copy of your debt validation letter to the credit bureaus and get the account removed from your credit report.
Just remember, when dealing with junk debt collectors, they have nothing to lose – but you do. Collect America doesn’t care about alienating a creditor’s former customers, just getting you to pay!