The adverse entry on one's credit report by AscensionPoint Recovery Services or another collection agency is painfully detrimental to the financial well-being of the individual concerned. It makes obtaining loans, credit cards, and mortgages very arduous. Therefore, if you would find yourself in such a predicament, it is time to file a dispute and attempt to have it expunged.
CreditSage is a remarkable credit repair service that will handle the entire dispute resolution on your behalf and put you on the right track to improve your credit report and financial health. This article will explain how to dispute the said entry of AscensionPoint Recovery Services on a credit report.
Establishing their business model and operating points helps frame the enormity of the task at hand: removing AscensionPoint Recovery Services from your credit report.
Understanding AscensionPoint Recovery Services
Before running into the task of removing AscensionPoint Recovery Services from your credit report, it is pertinent to first understand who they are and how they do business. AscensionPoint Recovery Services is a third-party collections agency that is frequently hired to recover outstanding debts for original creditors. These debts may range from those of medical bills to that of credit card debts or even utility bills.
If creditors see a crisis in their accounts, it is very usual for them to assign or sell that account to collection agencies, of which AscensionPoint Recovery Services is one. It starts reporting to the credit bureaus any time that a particular debt is transferred. This is what leads to a negative hit on your credit report. Such can have a negative influence on your report, consequently hitting you badly on your credit rating, and putting in a challenge to secure loans or other credit lines.
Collection agencies of AscensionPoint Recovery Services' type are legally mandated by provisions of the Fair Debt Collection Practices Act (FDCPA) to turn in delinquent debts to the credit bureau. However, mistakes happen, and if AscensionPoint Recovery Services is reporting inaccuracies or outdated information on your credit report, that can call for a dispute. Misreporting could encompass incorrect account details, failure to update the debt as "paid,", or even reporting debts not belonging to you.
CreditSage is well-practiced in helping detect and dispute other errors on credit reports. With their assistance, you can work toward getting any inaccuracy connected with AscensionPoint Recovery Services erased, thereby giving you a clean credit report and a revitalized financial outlook.
Check Your Credit Report for Accuracy
Determine the accuracy of the debt cited on the account before trying to have AscensionPoint Recovery Services removed from your credit report. When you see a collection entry on your credit report from AscensionPoint Recovery Services, have your report pulled immediately from the three main credit agencies: Equifax, Experian, and TransUnion.
Every one of these three major credit bureaus allows you to pull your credit report for free at least once in a year: AnnualCreditReport.com. Once you have the reports, pay close attention to the entry from AscensionPoint Recovery Services. Look for the following:
- Account Details: Make sure that the account is yours. If you believe you do not owe that debt, that could mean the collection agency is reporting a debt that is not yours; this is a common issue in the case of mistaken identities or when you've been a victim of fraud.
- Account Status: Verify that your debt status is right. An incorrect reporting error would be if a debt is still showing as unpaid or in collections but is really already paid.
- Last Active Date: Collection agencies should provide the most up-to-date information. If the account is too old to be reported, usually older than seven years, then it is eligible for removal.
- Amount of Debt: Compare the amount on your report to the original debt. Exaggerated fees or interest may be the basis for a dispute.
If you notice any discrepancies, you can file a dispute with the credit bureaus. Just like CreditSage, they would be instrumental in ensuring that your dispute is treated right, and any errors are corrected promptly.
Initiating the Dispute Process
When you've reviewed your credit report and recognized some inconsistencies with AscensionPoint Recovery Services, you can start the dispute process. You have a right to dispute under FCRA anything that you think is incorrect on your credit report.
Collecting Proof
If you're disputing the debt as inaccurate, secure as much documentation as you can that demonstrates the debt is mistaken. Documents can include receipts, letters from the original creditor, any document that shows you've already paid the debt.
If the debt isn't yours, you may have to present evidence of identity theft or fraud.
Submitting the Dispute
You can directly dispute inaccuracies through the credit bureaus via their online platforms. Each credit bureau has a dispute process where you fill in the details of the problem you are disputing and submit your evidence. Be sure to explain very clearly and simply why you think the collection entry is incorrect.
You can also dispute by mail. That way, the credit bureaus receive a letter that outlines your dispute and in which supporting documents will also be enclosed. Keep copies for your own records.
Track the Process
After you lodge your dispute, the credit bureaus should investigate it and respond to you within 30 days. In that period, they will contact AscensionPoint Recovery Services for verification.
If verification is not procured, with adequate documents, your credit report shall be cleared by them from thereon.
Get Updates on Your Dispute
The credit bureau will notify you, through either a letter or an electronic report, once the dispute has concluded. This should reflect in the credit report when AscensionPoint Recovery Services gets removed. In the event you prevail at the initial stage of disputes, you request the investigator to remove the contested listing from your credit report.
After this appeal, if your dispute was not successful, you might want to take other steps—and they include filing a complaint with the CFPB.
CreditSage understands how complicated the dispute process can be. The experts will handle everything for you, ensuring your dispute is processed timely and properly.
Send a Debt Validation Letter to AscensionPoint Recovery Services
If you think the debt reported by AscensionPoint Recovery Services is unlawful or they cannot provide proof of the debt, you can send a debt validation letter to the agency.
According to the Fair Debt Collection Practices Act, within 30 days after they first contact you—if requested—collection agencies must validate a debt. By dispatching a Debt Validation Letter, you initiate a request for AscensionPoint Recovery Services to substantiate that you owe the said debt.
The Debt Validation letter must include:
- Your full name and address.
- A statement of request for debt validation.
- Name of the creditor for the debt.
- Proof that the debt is valid.
- Proof that AscensionPoint Recovery Services has the legal right to collect on the debt.
- Provide an itemized account of the debt amount, including all fees and interests.
Once AscensionPoint Recovery Services receives this letter, they have 30 days to verify the debt. If satisfactory proof of the debt is provided, they are supposed to stop collection efforts and remove the entry from your credit report. That's important because a debt validation letter is really a key piece in the whole dispute process. If you don't know what to write, CreditSage can help you create and send a legally valid debt validation request.
What to Do if Your Dispute Is Denied
If your dispute with AscensionPoint Recovery Services is denied, don't lose faith. You still have options to petition the entry itself. Here is what you can do when your dispute does not have a favorable resolution:
- Request Reinvestigation: The credit bureaus don't always deny your dispute. So if that's the case for you, you can always go ahead and ask for reinvestigation; in simple terms, you could ask the credit bureaus to reconsider the information and possibly look deeper into it. It is also wise to provide additional evidence or explanations that can reinforce your side of the case.
- Obtain Evidence Regarding Your Complaint with the Consumer Financial Protection Bureau (CFPB): In the event that the debtor remains dissatisfied, but the case originating at the collection agency continues to improperly report, furnish a complaint to the CFPB. It shall get into the evidence and help sort things with AscensionPoint Recovery Services.
- Sue AscensionPoint Recovery Services: This will put you in the perfect position to sue them if you have substantial grounds on which to base a case that the collection agency indeed violated your rights under the Fair Debt Collection Practices Act (FDCPA), and blows to the credibility of the above-written statements were made either whilst the agency is attempting to collect on the debtor's behalf or attempting to report on the debtor.
- Partner with Credit Repair Professionals: This is where you may wish to engage credit repair specialists, in fact CreditSage, whose whole function is to go on behalf of the consumer and exercise anything necessary to get that bad mark off your credit report. Years of experience backing disputes on the credit report will help you maneuver your way towards removing AscensionPoint Recovery Services.
Finishing Process
Getting AscensionPoint Recovery Services off your credit report is no simple process: it will take diligence and an understanding of your rights under the law. Whitewashing your credit will be achieved through a thorough investigation of your report, disputing the entries that are incorrect with the credit bureaus, employing debt validation letters, and prosecuting additional legal actions if needs be.
CreditSage provides readers with information about how to conclude this tedious process. If you have collection entries or inaccuracies on your credit report, the CreditSage team will not hesitate to help you. We will handle the entire dispute process for you so that we can do all we can to clear your credit and put your finances back on track.
Therefore, do not sit waiting; get your credit under control and call CreditSage for expert assistance in removing AscensionPoint Recovery Services from your credit report.