Getting calls from CBE Group about a debt in collections? This collection account could be hurting your credit score. Don’t worry, there are ways to fix it. Try these credit improvement strategies yourself or get help from Cambio, a mobile app that can make it easier for you to remove negative items from your credit report and improve your score.
In this blog post, we’ll go over everything you need to know about CBE Group, why they’re calling, and how to remove the collection account from your credit report.
What is CBE Group?
CBE Group is a debt collection agency that collects debts on behalf of creditors like hospitals, utility companies, and banks. They can report delinquent accounts to credit bureaus, which can result in a big hit to your credit score. Having just one collection account can drop your credit score by as much as 100 points so removing it from your credit report is a top priority.
How to Verify and Dispute a Collection Account with CBE Group
The first step in dealing with CBE Group is to verify the debt they’re collecting. The Fair Debt Collection Practices Act (FDCPA) gives you the right to request written verification of any debt CBE Group is reporting on your credit report. First, send this debt validation letter template to CBE Group. This letter asks the collection agency to provide proof that you owe the debt they’re collecting. If they cannot provide proof within 30 days, they must remove the debt from your credit report. Once you’ve verified the debt, you can dispute any inaccuracies with the credit bureaus.
Dispute a CBE Group Collections with the Credit Bureaus
1 in 3 credit reports contain errors. These errors are often due to debt collection agencies making mistakes in their reporting practices. If a collection account contains inaccurate information, you have every right to dispute it with the credit bureaus. Doing so can remove this hurtful account and result in a credit score improvement.
If CBE Group validates the debt or does not remove an unvalidated collections account, you can dispute the account directly with the three major credit bureaus – Equifax, Experian, and TransUnion. Use this free collection dispute template, or download the Cambio app and we’ll take care of it for you.
Here are some best practices when sending a dispute letter to the credit bureaus:
– Only dispute items you believe are inaccurate.
– Send your dispute via mail. This is because letter disputes are processed differently than online disputes.
– Add any copies of evidence that support your dispute. This could include receipts, police reports, etc.
How to Negotiate a Pay to Delete with CBE Group
If you owe CBE Group money, you may be able to negotiate a pay to delete agreement. This is an agreement to pay a portion of the debt in exchange for the account being removed from your credit report. Make sure you get any agreement in writing before making any payments.
Download our free Pay to Delete PDF Template to get started.
Now, here are some best practices when negotiating a “Pay for delete” with a collections agency:
– Do not agree to a payment you cannot afford
– Do not admit ownership of the debt
– Make sure you get a signed agreement letter from the collection agency before making any payments. Otherwise they have no legal obligation to remove the debt upon payment.
How to Use Cambio to Dispute or Negotiate a Pay to Delete with CBE Group
Cambio is a mobile app that can help you remove negative items from your credit report and improve your score. You can use Cambio to monitor and dispute collection accounts, negotiate pay to delete agreements, and more.
Conclusion
Resolving your collection account with CBE group can seem overwhelming but you do have options. First, request debt verification and if the debt cannot be verified, the account must be removed. If that does not work, dispute the account with the credit bureaus, which must investigate and remove verifiable errors. Otherwise, negotiate a pay for delete agreement to pay the debt in exchange for account removal. With persistence, you can resolve CBE Group collections issues on your credit reports. Don’t have the time? Let Cambio work on your credit for you!
