Feeling overwhelmed by the negative impact MBA Law Collections is having on your credit score? Don’t worry – you’re not alone. In this post, we’ll cover everything you need to know about MBA Law Collections, their questionable tactics, and how to protect yourself from their negative impact on your credit report.
Who is MBA Law and Why are They Contacting Me?
MBA Law Collections is a law firm that also operates a debt collection agency. They have been collecting medical debt since 2008 and are based in Sherman, Texas. They work for debt buyer CF Medical, LLC, along with Capio Partners, LLC. If both MBA Law Offices and Capio are working together to collect your medical debt, you may receive correspondence from both companies.
If MBA Law is contacting you, it’s likely they bought your medical debt from a hospital for pennies on the dollar. However, according to the CFPB, MBA Law has a history of unfair collection practices with almost 500 complaints against it. If you have any doubt about the debt MBA Law claims you owe, you should verify it and dispute any inaccuracies with the credit bureaus.
MBA Law Collections Can Hurt Your Credit Score
If MBA Law Collections reports a collection account on your credit report, it can damage your credit score. This can make it more difficult to obtain loans or credit cards. To safeguard your finances, take action to remove the negative impact of MBA Law Collections from your credit report.
How to Verify a Collection Account with MBA Law Collections
One way to remove MBA Law Collections from your credit report is to verify the debt they are collecting. The Fair Debt Collection Practices Act (FDCPA) gives you the right to request written verification of any debt being reported on your credit report. First, mail this debt validation letter template to MBA Law Collections:
Address: 3400 Texoma Parkway, Suite 100, Sherman, Texas 75090
Phone Number: (903) 813-3805
Website: www.law-mba.com
This debt validation letter requires the collection agency to send proof that you owe the debt. If they cannot provide proof within 30 days (and you sent it within 30 days of receiving notice of collection) the must delete the collection account from your credit report. Deleting just one collection account from your credit report can raise your credit score by as much as 100 points!
How to Dispute your MBA Law Collections
It’s very possible that the collection account contains errors. If the step above does not remove the account, you can dispute the account by mailing a collection dispute letter to the credit bureaus. Disputes cannot hurt your credit score. In fact, if the credit bureaus find that the account is inaccurate, the collection account could be deleted and your score should increase.
To dispute your MBA Law Collections account by yourself, mail this free collection dispute template to each of the three credit bureaus. There’s an app for that! It’s called Cambio (us!). Download the Cambio app and we’ll take care of this dispute for you.
Negotiate a Pay to Delete with MBA Law
A final option to remove MBA Law Collections from your credit report is a Pay to Delete. This strategy consists of negotiating with your creditor to have them remove the account from your credit report upon payment. It’s important to obtain an agreement in writing before making any payments.
Use thi free Pay to Delete PDF Template to do this strategy on your own. Or download Cambio today for some extra help.
Follow these best practices when negotiating a “Pay for delete” with a collections agency:
– Only agree to payments you are certain you can afford
– Don’t admit ownership of the debt
– Obtain a written agreement that the account will be removed from your credit report before making payments. Otherwise, the collection agency has no obligation to remove the account.
How to Use Cambio to Dispute or Negotiate a Pay to Delete for MBA Law Collections
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. Download today for a free credit analysis
What to Do If Collection Agencies Violate Your Rights
MBA Law Collections is legally required to follow the Fair Debt Collection Practices Act (FDCPA). If they violate your rights under this law, you can report them to the Federal Trade Commission (FTC) or file a complaint at the Consumer Financial Protection Bureau (CFPB). Make sure you know your rights and how to protect yourself from illegal collection practices.
Conclusion
Dealing with a collection account may feel overwhelming, but it’s crucial to protect your credit score. By following the recommendations provided in this post and utilizing the Cambio app, you can take charge of your finances and secure your financial future. Don’t allow MBA Law Collections’ adverse influence on your credit to hold you back – take the necessary steps today to safeguard your credit score.
