How To Remove Credence Resource Management And Restore Credit?

It is not at all good news that you are getting calls from Credence Resource Management. It is a debt collection agency whose presence in your credit report can affect your score for up to seven years. In this article, we will discuss the various steps that you will need to take if you are getting calls, messages, or emails from the Credence Resource Management agency.

What Is Credence Resource Management?

Credence Resource Management is a debt collection agency based in Dallas, Texas. It was founded in 2013 and made its presence in many places across the United States. It is a very popular debt collection agency and has collected a lot of debt in its ten years of presence.

You will know that this agency is trying to contact you if you find these names under your credit report:

1. Credence Resource Management AT&T
2. CRM
3. Credence Collections
4. Credence RM

How Does Credence Resource Management Work?

According to Money.com,

“Credence, and other debt collection agencies like it, are third-party companies that purchase outstanding debts for a fraction of their worth. Once it purchases the debt, it is legally allowed to seek repayment, continuously contacting individuals by phone, email and mail until you pay the debt or make an agreement to repay it.”

The Credence Resource Management agency collects debt for many companies spread across various industries, including healthcare, utilities, telecom, banking, and more.

Credence is collected mostly for healthcare companies and telecom providers like mobile networking companies, cable, satellite, etc.

Once you get to know about the presence of Credence Resource Management on your credit, make sure you come to agreement terms quickly. The presence of such debt collection agencies can have a huge impact on your credit report for almost up to seven years.

How Does Credence Resource Management Affect Your Credit?

We have already discussed how Credence Resource Management’s remarks on your credit score can affect your credit report.

According to CreditGlory.com,

“They may be trying to collect a debt that is about to fall off your credit report anyway. Acknowledging this debt and starting payments may actually do more harm to your credit than help in these instances. Credence Resource Management has also tried to collect invalid debts, debts from the wrong person, and debts that are past the statute of limitations.”

If you are receiving calls from Credence Resource Management, the best option for you would be to deal with the debt.

How To Deal With (Or Remove) Credence Resource Management?

There are a lot of things you can do if you are hearing from Credence Resource Management or any similar collection agency. The following are the things you must do to remove Credence Resource Management from controlling your credit:

1. Get A Good Idea Of Your Rights

Debtors have various rights under the Fair Debt Collection Practices Act (FDCPA). Furthermore, the obligations of debt collectors are also given in the Act. Here are some of the rights you will need to know:

1. The debt collector can only call you between 8 AM to 9 PM.
2. The debt collector does not have permission to call your place of employment.
3. On the involvement of a lawyer, the debt collector must communicate with the lawyer.
4. The debt collector cannot communicate with your friends/family/anyone related and tell them about your debts.
5. The debt collector cannot threaten or harm you in any way. They must also not use profane language or threaten to take your property.
6. The debt collector professionals must honestly share their own identification, as well as the company they represent.

2. Verify Your Debt (Also Validate)

According to FinMasters.com,

“Under the new regulations that came into effect on Nov. 30, 2021, debt collectors must send you a Notice of Debt within 5 days of their first contact with you. This notice must contain much more information than the notices that collectors sent under prior rules. If the notice is incomplete, it is invalid, and the debt isn’t collectible. That makes it important to know what’s required.”

You will get an itemization date on the Notice of Debt. This date will help you determine whether the Statute of Limitations on the debt has expired or not. You will also find various other information on the notice.

The Notice will also contain information where the agency will advise you of your rights under the FDCPA. They will also give you a statement that you will have the right to dispute the debt within thirty days.

You will also get a returnable form, which will allow you to dispute the debt through declaration, and you will have to select one of the following three reasons for dispute:

1. This is not my debt.
2. The amount is wrong.
3. Other (additional information needed)

3. Disputing the Debt

You will need to dispute your debt within thirty days once you get a message from the Credence Resource Management agency. Do not delay, as it will not be valid after thirty days. You must use a dispute or debt validation template.

Make sure you ask for the following through a certified letter:

1. Documentation verifying the owing of the debt (Example: a Copy of the original contract)
2. The expiry date of the statute of limitations of the debt. The collecting agency might deny it, but they cannot lie. If they do not say it, understand the expiry date is gone.
3. Ask for a copy of the last billing statement that the original creditor sent to the agency.
4. Check whether the agency has the license to collect debt in your state or not. Here, the collecting agency might deny it, but they cannot lie. Here, you must ask for the license number, date of license, as well as the state agency that issued the license.

Send the letter to the Credence Resource Management agency through certified mail. Once you receive back a mail of debt validation, you will have 30 days to send the debt dispute letter.

Final Thoughts

Hope this article was helpful for you in getting a better idea of how to deal with the Credence Resource Management agency if you are receiving calls from them. If you are finding them on your credit report, you must act quickly, as delaying will have adverse effects on your credit score.

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