Poor credit scores do more than just jeopardize your financial future, and services like American Profit Recovery don’t help.
Credit scores can massively affect your mental health, with a 2014 study finding that low credit scores can be linked to higher rates of cardiovascular cancer and 90% of Americans reporting money-related stress.
If accounts you don’t recognize appear on your credit score, it can be a cause for concern, especially if it’s from a company you don’t recognize. With payment history accounting for around 35% of your credit score, keeping track of accounts is key to ensuring the health of your future finances.
If you see American Profit Recovery appear on your credit score, you may be concerned about its effect on your credit score and wonder whether it’s even legitimate. Luckily, we’re here to help!
Let’s dive into who APR is, who does American Profit Recovery collects for, and whether you can remove the account from your score.
Who is American Profit Recovery?
American Profit Recovery is a debt collector agency. Any collection accounts from them will show up on your credit report. This can occur either because they purchased the debt from the original lender or they might be paid to collect on behalf of the creditor.
As well as their account appearing on your credit report, the collection company might attempt to contact you via mail or phone calls. Unfortunately, an account from American Profit Recovery can spell disaster for your credit score, making it harder for you to borrow money in the future.
Is American Profit Recovery a Legitimate Company?
Wondering whether American Profit Recovery is a legitimate debt collection company and does American Profit Recovery reports to credit bureaus? The answer is yes.
The company is legit. This means it follows the same regulations as other debt collectors as outlined in the Fair Debt Collection Practices Act.
Any debt collection agency is legally required to comply with the act. Failing to do so means you can report them to the Federal Trade Commission (FTC) or file a complaint at the Consumer Financial Protection Bureau (CFPB).
Despite being legitimate, like many other debt collectors, American Profit Recovery might hassle you with mail and phone calls. We mean continuously until you pay the debt that’s owned. Luckily, there are ways you can remove this account from your credit score. More on that later…
How Do I Know If the American Profit Recovery Account is Real?
Fraudulent and incorrect accounts on a credit score happen frequently. Therefore, it’s not out of the realm of possibility that this has incorrectly appeared on your credit score. Keeping an eye on your credit score is key to ensuring that you spot anything that looks suspicious. Thus, you can rectify it as soon as possible.
If you see something you don’t think is right, you’re within your rights to ask for documentation to prove the debt.
How Can I Contact American Profit Recovery?
Believe there’s an issue with the APR account on your credit score? Want to negotiate Pay to Delete? Want to remove the company from your credit score? Whatever the reason, you can contact the company using the following details.
American Profit Recovery phone number: (877) 634-8900
American Profit Recovery address:
Michigan Office
34505 W. 12 Mile Rd.
Suite 333
Farmington Hills, MI 48331
Massachusetts Office
31 Hayward St.
Suite 2A-213
Franklin, MA 02038
Alternatively, there’s a contact page on the company’s website you can use. Debt collection agencies aren’t known for the best customer service, but persisting in your case and knowing your rights will get you better results.
How to Delete American Profit Recovery From Your Credit Score: 3 Simple Steps
Unfortunately, an APR account on your credit score can affect your ability to apply for loans or mortgages in the future. With this in mind, it’s important to remove the account from your credit score. Here’s how.
Verify the collection account
The first step to take is to verify the debt they’re collecting within 30 days of receiving it using the regulations of the Fair Debt Collection Practices Act (FDCPA). You can request written verification of the debt account as it appears on your credit report.
We’ve got a handy validation letter template you can use, then simply mail it to American Profit Recovery’s mailing address.
If the company doesn’t reply with proof that you owe the debt within 30 days, they must delete the account from your credit report. And when they’re gone, you should see a boost in your credit score.
Dispute the American Profit Recovery account
There’s always a chance that the account contains errors, so your next port of call should be to mail a collection dispute letter to the three credit bureaus. Don’t worry – this won’t negatively impact your credit score.
We’ve got a handy free collection dispute template, and mail it to each credit bureau with your details. Want a helping hand? Use the Cambio app to help with your disputes. If the bureaus confirm the inaccuracy of the account, it will be deleted from your credit score.
3. Negotiate a Pay to Delete Deal
If the previous two techniques don’t work, the final option is to negotiate a Pay to Delete deal with American Profit Recovery by writing to them using our Pay to Delete template or the Cambio app. This deal will mean that they’ll remove the account from your credit report once you’ve made a payment.
Naturally, you should take the necessary precautions, such as getting an agreement in writing before sending money, not agreeing to payments you can’t afford, and not admitting ownership of the debt.
Wave Goodbye to a Bad Credit Score
Is a poor credit score holding you back from the financial future of your dreams? We’re here to help. Here at Cambio app, we’re all about change – it’s even in our name!
We allow you to take control of your future with financial tools that give you more power over your credit score. All to help you reduce the risk of issues with lenders. Thus, you get access to the credit you’re entitled to as and when you need it.
Start rebuilding your credit today and set yourself on a path of prosperity by getting our app today. Join thousands who have already seen their credit scores soar!
