What Is Cadaccrec On My Credit Report?
Cadaccrec is a debt collection agency. If you are seeing them on your credit report, it likely means they have purchased your debt from a creditor and are (or will be) attempting to collect it from you.
Is Cadaccrec A Debt Collection Agency?
Yes, Cadaccrec is a debt collection agency. They buy debt from a number of different creditors that no longer wish to attempt to collect the amount themselves (also known as a "charge-off").
Cadaccrec may attempt to reach out via mail or phone calls (demanding payment). The worst part is a collections account will now be seen on your credit report. This hurts your score, as well as reducing your chances of getting approved for a loan or other important financial event.
But it’s not all bad news! We may be able to help you with this account. Call us today to find out more.
Who Does Cadaccrec Collect For?
Cadaccrec purchases debt from a range of different creditors. The information isn’t always publicly available and is constantly changing, so it’s difficult to provide an accurate and up-to-date list.
Does Cadaccrec Hurt My Credit Score?
Yes, it is highly likely having Cadaccrec on your credit report is damaging your score significantly.
What to do if Cadaccrec is Reporting an Inaccurate Debt on Your Credit Report
If Cadaccrec is listed on your credit report, it indicates that they are attempting to collect a debt from you. However, if the information being reported is inaccurate, you can take steps to dispute and remove it from your report. Start by obtaining a copy of your credit report and examining it carefully to make sure all the information is accurate. If you identify any mistakes or inconsistencies, you can challenge them with the relevant credit reporting agencies.
You also have the right to contest the debt directly with Cadaccrec through the Fair Debt Collection Practices Act. This gives you the authority to ask for proof of validity and dispute anything that might be erroneous or unrelated to you. If no validation can be produced, then it must be removed from your credit report.
How to Rebuild Your Credit After Dealing with Cadaccrec
Having Cadaccrec on your credit report can be damaging to your credit score and make it hard to get approved for loans or credit cards in the future. However, there are things you can do to rebuild your credit.
First, make sure all of your bills are paid on time going forward. Payment history plays a major role when calculating your credit score, so consistent timely payments are essential. Additionally, try and maintain low balances on any credit cards you have and only apply for more if it is necessary.
A secured credit card may be an option as well – these require a deposit but help to create a positive credit history. You can also look into having positive information added to your report, such as paying rent or having a utility bill in your name. Lastly, keep in mind that rebuilding good credit takes time, but it is possible with dedication and smart financial practices.
How Do I Remove Cadaccrec From My Credit Report?
To be eligible to remove Cadaccrec from your credit report, you typically need to meet the following requirements:
- Any information on the account is incorrect
- Any information on the account is error’d
- Any information on the account is fraudulent
- And is not (or cannot be) fixed in an appropriate amount of time
According to a study by the U.S. PIRGs, 79% of credit reports contain mistakes or serious errors. Going after these types of accounts for our clients is our specialty.
Should I Pay For Delete With Cadaccrec?
Paying off Cadaccrec to have credit bureaus delete it from your report sounds like a good idea. There's one major problem. Paying a debt in collections changes your credit report status from 'unpaid' to 'paid', but the collection remains on your report for 7 years (from the date of first delinquency). This means your credit is still damaged.
Should I Negotiate A Settlement With Cadaccrec?
Settling your debt with Cadaccrec could go both ways. It may help your score, but it may also hurt your score. Many variables impact the end result. There is a better path to a good result. Work with a company that is able to review these accounts for you (like Credit Sage), and if any issues with the account exist you may have it removed all together (and never have to hear from them again).
Is Cadaccrec Legit, Fake Or A Scam?
Cadaccrec is a legitimate company. They aren’t fake or trying to scam you. But it is likely they are spam calling you trying to collect a debt. One of the best ways to deal with this is to dispute and remove unvalidated debts.
Why Do Cadaccrec Keep Calling Me?
Cadaccrec continues to call and attempt to collect a debt. The best thing you can do is ignore their calls and speak with a company that can help you get it removed (like Credit Sage).
How To Get Cadaccrec To Stop Calling Me?
As we’ve mentioned above, Cadaccrec will be calling you to attempt to collect a debt. The best thing you can do to stop this is speak with a company that can help you get them removed from your credit report, like Credit Sage. Once they are off your credit report, you won’t have to hear from them again.
Cadaccrec Reviews And Complaints
Cadaccrec has terrible BBB reviews. This may come from their repeated calls and letters to consumers trying to collect their debt.
Will Cadaccrec Try Suing Or Garnishing My Wages?
Cadaccrec suing would be a very unlikely situation. In rare cases it may happen, but it certainly isn’t the norm. State and federal laws place limits or 'exemptions' that apply to bank and wage garnishments.
We strongly recommend calling us, we’ll help determine the likelihood of a lawsuit, but also provide you next steps in getting this collection removed.
Does Cadaccrec Accept A Goodwill Letter To Remove My Collection/Charge-Off?
Based on our years of experience dealing with companies like this, Cadaccrec does not accept goodwill letters to remove collection accounts or charge offs.
What Are My Rights When Dealing With Cadaccrec?
You have the right to dispute any of your debt that Cadaccrec has purchased. Cadaccrec is governed by the Fair Debt Collection Practices Act (or FDCPA) and the Fair Credit Reporting Act (or FCRA). While these acts seem very complicated, they provide a great deal of power to the consumer if you know how to use it properly.
What Is Cadaccrec Phone Number?
You likely want to call Credit Sage before deciding whether or not to call Cadaccrec. The reason? You may not want to pay Cadaccrec debt, especially if it's inaccurate. Paying it off could hurt your score.
Get Cadaccrec Removed From Your Report, Today!
In most cases, we recommend speaking with a Credit Repair professional to analyze your credit report before you attempt to settle any debt. The main reason? Settling your debt may actually hurt your score.