When you discover that Sequium Asset Solutions has made an appearance on your credit report, it may feel like a very significant obstacle in your credit journey. Entries from collections agencies often have a negative impact on your report, affecting your credit health in turn. Although it is not uncommon for collections accounts to appear on credit reports, it is important for you to understand that they don't have to stay there forever. If you make the effort and take the right steps, you can work towards removing Sequium Asset Solutions from your report once and for all. This article will guide you through the process of disputing these entries, improving your credit health as a result.
What is Sequium Asset Solutions?
Sequium Asset Solutions is a collections agency that recovers outstanding debts for other creditors. If you have missed any payments recently, there’s a chance that Sequium Asset Solutions has been assigned to collect on a debt that you owe; this could appear as a negative mark on your credit report. In saying this, you should never jump to conclusions or assume that the debt is accurate because errors are more common than one might think. Sometimes, debts are reported against you erroneously, or old debts that are no longer applicable may somehow show up on your credit report despite this. Because these entries will negatively affect your credit report and harm your financial health, it becomes necessary for you to ascertain the validity of the Sequium Asset Solutions account. First and foremost, verify the validity and accuracy of the debt, checking over all of the particulars related to the nature of the account in question.
If the information is erroneous, outdated, or you have already made the payment, you may have cause to raise a dispute. Let us say, for the sake of an example, that you settled a loan over two years ago, but Sequium Asset Solutions is still appearing amongst your creditors. This alone is an error that can easily be disputed and therefore rectified.
Why Is It Important To Remove Sequium Asset Solutions?
Once you’re able to remove a collections account from your credit report, especially if it is incorrect or unverifiable, it can do wonders for your overall credit health. The focus here should not only be on elevating your credit scores, but rather, on ensuring the authenticity of your financial history. After all, an accurate credit report is crucial when it comes to your future credit applications, loans, and even job prospects. Theoretically speaking, if you are applying for a mortgage, a collections account could result in a higher interest rate or outright disqualification. Now that we have touched on why correcting inaccurate information in your credit report is so very important, let us discuss how you should go about raising an effective dispute against Sequium Asset Solutions.
How Do I Dispute Sequium Asset Solutions?
Request Your Credit Report
Before filing your dispute regarding Sequium Asset Solutions or any other inaccurate collections entry, requesting your credit report should be your first point of call. The three major credit bureaus (Equifax, Experian, and TransUnion) are obliged to provide you with one free report every year from AnnualCreditReport.com. This will help you locate not only Sequium Asset Solutions in your report but also any other incorrect or otherwise harmful entries.
Take a Look at the Details of the Debt
After obtaining your credit report, your next step will be to thoroughly examine the details connected to the Sequium Asset Solutions collections account. Pay close attention to the following:
- Account number: Is the account number correct? Inconsistencies or discrepancies from your prior records should sound an alarm.
- Debt Amount: Is the amount of the debt seemingly correct? If it does not match with what you owe or has already been paid, then you have a basis with which to form your dispute.
- Date of Last Payment: Note the date of the last payment made. If the date is old or not reported properly, this would be another error for you to dispute.
Dispute With the Credit Bureau
After identifying the errors, the next step is to dispute them with the credit bureaus. You may raise your dispute either through their respective websites or via a physical letter that you’ll then send by registered mail. While composing your dispute, outline the specific nature of your claim and provide documentation to back it up. For instance, if you have already paid the bill, provide a bank statement or receipt to prove this.
Dispute Directly with Sequium Asset Solutions
You can also dispute directly with Sequium Asset Solutions. Send them a written dispute detailing the error, along with any supporting evidence that can prove the debt is inaccurate or simply not yours. In certain instances, collection agencies will remove an item from a credit report if they are unable to verify a debt, provided a reasonable period of time has elapsed.
Let’s suppose, for argument's sake, that you have a Sequium Asset Solutions debt that you don't believe is yours. Perhaps you’ve already paid it off or you didn't take out the loan to begin with. After filing your disputes with both the credit bureaus and Sequium Asset Solutions, they have to investigate the complaint. If they cannot provide proper documentation proving the debt, the onus is on them to remove it from your credit report.
Alternative Methods of Removing Sequium Asset Solutions
Negotiating a Pay-for-Delete Agreement
In some cases, you should consider directly negotiating a pay-for-delete agreement with Sequium Asset Solutions. Essentially, you will offer to either partially or completely pay off the debt in exchange for the deletion of the entry from your credit report. It is imperative to obtain such an agreement in writing before you make a payment. Hypothetically, if you have a $500 debt but can only afford to pay $300, you could negotiate this to improve your report without having to pay the actual amount.
Validation of the Debt
If you are not sure about the legitimacy of the debt, you have the right to request validation from Sequium Asset Solutions. Through the FDCPA, you have the right to seek validation of the debt. If Sequium is unable to verify the legitimacy of the debt, under the FDCPA, they are required to delete the collection from your credit report. Hypothetically, if you simply cannot recall the debt in question, their inability to validate a claim will cause them to remove the item.
Disputing Information
If you still haven’t found success, disputing unverifiable information is another strategy that you should consider. At times, collection agencies fail to verify debts within the 30-day period granted to them by the credit bureaus. If the debt cannot be verified by Sequium Asset Solutions, it will be erased from your credit report. Hypothetically, should they fail to respond to a dispute and cannot verify the debt it will be removed from your report, thus improving your credit health.
Filing a Complaint
If you’ve tried every possible way to succeed with your disputes and still see no clear way around your problem with Sequium Asset Solutions, you may choose to file a complaint with the Consumer Financial Protection Bureau. This independent government agency helps to oversee complaints related to credit reporting, including disputes over collections accounts. They will investigate further, ultimately helping you to reach a satisfactory resolution.
What If Your Disputes Are Rejected?
How to Handle Rejection
For various reasons, not all disputes will yield a favorable result, making the removal of Sequium Asset Solutions that much more difficult. When a dispute is rejected, it's important to understand exactly why this happened and what your options are moving forward. In some instances the credit bureau might still believe that the debt is valid; the collection agency could have provided adequate documentation showing that the debt is yours. If you’ve found yourself in this stressful situation, do not give up! You still have several different options at your disposal.
- Check the Documentation: Ask to see a copy of the evidence they used to base their decision on.
- Consult an Attorney: If you think that the debt was inaccurately reported or you're a victim of FDCPA violations, then it may be worth it to consider legal counsel as another option.
- File a Second Dispute: Additional evidence or clarification can sometimes change the course of a dispute. You can file a second dispute with the credit agencies or with Sequium Asset Solutions regarding any new information that you’ve since uncovered.
What Goes on When a Dispute Is Ended
If Sequium Asset Solutions was able to provide adequate evidence confirming the debt's legitimacy, you should consider negotiating a settlement with them, asking for a pay-for-delete deal, or getting professional help to clean up your credit report in other ways.
How A Credit Repair Service Might Help
Why a Credit Repair Service?
Disputing mistakes on your credit report, especially those created by collection agencies such as Sequium Asset Solutions, can prove to be an arduous and complex task. Here is where the service of a credit repair company like CreditSage comes in. CreditSage is knowledgeable about the complex procedures surrounding credit reports and disputes, making it far easier for you to maintain an accurate and healthy credit report.
What to Expect from CreditSage
CreditSage can help with:
- Reviewing Your Credit Report: They will take time to analyze your credit report in detail, spotting errors and inaccuracies concerning Sequium Asset Solutions or any other collection account.
- Handling Disputes on Your Behalf: CreditSage will submit disputes directly to collection agencies and/or credit reporting agencies on your behalf, sparing you from the process entirely.
- Negotiation Assistance: If you need someone to help negotiate a pay-for-delete or settlement agreement on your behalf, CreditSage will help facilitate discussions with Sequium Asset Solutions.
Working with CreditSage will save you time, reduce stress and increase your chances of successfully removing errors from your credit report. Although this process is admittedly tough to endure, it’s worth it to enjoy the many advantages that healthy credit brings. If, for instance, you attempted to dispute the errors on your credit report by yourself but ultimately failed to succeed, then it is safe to assume that contacting CreditSage might be the only solution left.
Conclusion
As daunting as dealing with collections agencies such as Sequium Asset Solutions on your credit report may feel, you have a right to contest any inaccurate or unverifiable information. Following the steps outlined in this article will help you dispute these errors and move forward with your credit health. The end goal remains the same: whether you are handling disputes on your own or seeking help from a professional credit repair service instead, fixing your credit report will finally allow you to move towards your financial goals. With patience and by using the right framework, you can succeed in removing Sequium Asset Solutions from your credit report, thus securing your financial freedom.