A credit report is a key component of one’s financial health management. It does determine the interest to be paid on loans taken out, what kind of credit card offers one will get, and it does assist you in some way regarding your job. But it does happen sometimes that errors and obsolete information find its way into your credit report and in turn affect your credit level.
One such entry could be ARStrat. ARStrat is an agency concerned with the collection of debts outsourced to it by willing creditors. If ARStrat is on your report, you could have a serious problem. However, there are means through which you could clear ARStrat from your credit report and improve your credit health further.
This article will guide you and explain to you how to remove ARStrat from your credit report, including steps to dispute the entry and proceed with credit bureaus, and how CreditSage can assist in the process.
What ARStrat Is and Its Impact
ARStrat is a collection agency hired by companies to collect outstanding consumer debts. These debts include everything from unpaid medical bills and credit card debts to utility bills and various other financial obligations. If you are unable to pay a debt, the original creditor may consider it a loss or pass it to ARStrat, a collection agency, for collection.
Upon doing so, the entry may be reported to the credit bureaus and might appear on your credit report. The entry could raise an alert since it means there are debt account(s) being considered, thus lowering your score and giving the lender a reason to deny you credit. Whether it was wrong or outdated, having the name of ARStrat listed on your credit report can have long-term effects on your financial records.
The Negative Impact of ARStrat on Your Credit Report
ARStrat, like any other collection account, would do serious damage to your credit score. A collection entry in a credit report shows that you have not paid up on a certain amount due, branding you before potential lenders as untrustworthy when it comes to credit management. Hereafter, this would result in higher interest rates, refused credit applications, and a cutback on your financial opportunities.
In addition, collection accounts are ordinarily reported for seven years even when the debt is fully paid or negotiated. Thus, an ARStrat entry in your credit report may remain for years, affecting tremendously your credit score and your financial future.
Checking for ARStrat on Your Credit Report
Order a Copy of Your Credit Report
The first step in getting ARStrat off your credit report is to see if it is, indeed, listed there. The major credit bureaus, Experian, TransUnion, and Equifax, allow those individuals whose applications are free, but are entitled to a copy of their credit report once a year. One avenue to requesting any of these reports would be through AnnualCreditReport.com, the official federally authorized website.
If you find that your credit report contains an entry listing ARStrat, you can start the process of disputing it. In most cases, you can get a free copy from other resources on the Internet, such as CreditSage, which regularly offers credit monitoring services to its clients. This is an easy way to keep track of your credit and notice changes or begin disputing errors as they occur, all from the comfort of your own home.
Inspect the Specifics of ARStrat
On your copy of your credit report, closely scrutinize the entry that has been made against ARStrat. Please, pay close attention to the following details:
- Amount Reported: Ensure the amount being reported is accurate.
- Date the Debt Was Incurred: Confirm the debt reported is current and not an old one. If the debt is more than seven years of age, it is not supposed to be reported.
- Account Status: Check to see if the account is "settled" or "paid." If it is, it should be reflected in the report.
- Creditor Information: Make sure that the creditor is one you identify. Sometimes collection agencies report debts that are not quite yours.
If you see any inconsistencies or discrepancies in the particulars of the entry of ARStrat, it becomes obligatory to take action.
Disputing ARStrat with Credit Bureaus
Filing a Dispute
Just as soon as you notice that there is an entry on your credit report that is ARStrat and is not right, or it must be taken out, you go ahead and initiate a dispute. The three credit bureaus allow you to file disputes online, by phone, or through mail: Experian, TransUnion, and Equifax. Disputing an item online is the most common and most effective way, so go ahead and file your dispute with the online portals available on each bureau's website. You have to clearly explain in your dispute why you think the entry ARStrat is incorrect. Attach any evidence you have - whether with regard to a bill or payment made, correspondence with the creditor, or documents demonstrating that the debt is not yours or it has already been resolved. The credit bureau will then investigate your claim and report back to you within 30 days; they may extend the response time in some cases if more details are needed to come up with a result.
How CreditSage Can Help You Dispute ARStrat
When it comes to disputes, it may take a lot of time, and sometimes you may find yourself asking the question of where one should start. This is the right moment for CreditSage to hop in. As a private credit repair company, CreditSage services disputes for clients. They will assemble the necessary paperwork and file the dispute on your behalf, monitoring the steps in order to see whether the ARStrat entry is correctly addressed. Thus, a client is free from the burden of handling the oftentimes-challenging credit dispute process. With a team of professionals dealing with the credit bureaus for you, the proper initiation of your dispute and intense monitoring after will become theirs.
Following Up on Your Dispute
What Will Happen After Filing a Dispute?
Once you file a dispute with the credit bureaus, they will communicate with ARStrat about the information you disputed. They may demand from ARStrat any supporting documentation or evidence that may prove the debt valid. If ARStrat fails to furnish supporting documentation or if the investigation comes to the conclusion that the debt is inaccurate, then the entry will be removed from your credit report. However, investigations might take as much as 30 days and, again, there's a possibility that maybe the dispute will come out in your favor, or maybe not.
Next Steps If Your Dispute Is Denied
In the event your dispute is denied, you still have other options available to you. Options may include filing a more detailed dispute with additional evidence in support of your claim, or you may escalate the matter by filing a complaint with either the Consumer Financial Protection Bureau (CFPB) or your state attorney general's office. Such agencies can intervene on your behalf to help ensure that your case is treated fairly.
In addition, if you believe that the ARStrat entry is still somehow detrimental to your trade credit position, you might want to consider working with CreditSage for further assistance. Their team can certainly assist you in working out other strategies, like negotiating with ARStrat or requesting a goodwill adjustment from the original creditor.
Preventing Further ARStrat from Coming into Your Credit History
Keep in Touch with Your Credit Health
Once you successfully remove ARStrat from your credit report, it is important to be watchful to prevent ARStrat's re-entry. Keep an eye on new collection entries on your credit report. If any such entries do appear, be sure to check on their legitimacy, and if there are any discrepancies, dispute them immediately to limit your credit from being tainted.
Look out for new collection accounts on your credit report. If you find any, check its legitimacy, and in case of discrepancies, immediately file a dispute to limit damage to your credit. There are also proactive measures that could make recurrence impossible, such as not getting behind in payments and paying your bills as soon as you can.
In case of default on any particular loan, you might consider negotiating with the creditor for a payment plan or settlement. More often than not, creditors are willing to negotiate directly to avoid the costs that come with dealing with a collection agency.
How CreditSage Could Help with Your Credit Health: Ongoing Credit Health
Finally, you can sign up with CreditSage for their credit-monitoring services. CreditSage will notify you of any negative entries that may appear on your credit report, including that from ARStrat.
CreditSage offers dispute assistance, credit research, and direct negotiations with creditors. Overall, with the help of CreditSage, restoring any credit mishaps to your credit history will be undertaken to keep your credit health afloat, and you'll never have to deal with any nasty collections agencies like ARStrat again.
Removing ARStrat from your credit report may seem an impossible task, but rest assured; it’s possible. Understanding how ARStrat affects credit, thoroughly reviewing the credit report, and following through with the dispute process will allow you to clear the inaccurate or undesired entries on your credit report. This task will be cushioned if one works along with a professional credit repair company such as CreditSage that can ease the process and keep the credit health a priority.