If you’ve checked your credit report recently, you may have seen an item or entity labeled “CBCS collections” or some close derivative with the same acronym. If that’s the case, you likely have an outstanding debt that has been purchased by the collection agency CBCS or its new parent company, Revco Solutions.
When someone does not pay a debt on time and then continues to neglect that debt, it will often be turned over or sold to a collection agency. This is done as a last-ditch effort to recover what the original company considers lost revenue.
Sometimes collection agencies are in-house departments of a larger organization. At other times they are third-party entities, as is the case with CBCS.
When you find a collection agency on your credit report, it can be alarming. Getting letters and emails requesting payments can be unsettling, as well.
Even so, if you find yourself faced with a credit agency’s attempt to collect a debt, you don’t want to leave the situation unaddressed. At the same time, you don’t want to let the urgency of the situation create unnecessary stress.
If you’re dealing with a potential claim from CBCS, review the following steps to confirm and respond to the allegation. A level-headed response increases the chances that you’ll ultimately be able to resolve the situation and remove the mark from your credit report.
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Is CBCS a Real Debt Collector?
CBCS (Credit Bureau Collection Services, Inc.) is a legitimate company that appears to have been in operation for nearly a century. However, in 2019 the long-standing collection agency merged with another company and rebranded as Revco Solutions.
The organization is based out of Ohio, with a company address in Columbus. However, they also appear to have a P.O. Box in Jacksonville, Florida as well.
BBB Complaints About CBCS
According to the Better Business Bureau, CBCS’s parent company Revco Solutions has a one-star rating. It also has 104 complaints in the last three years and managed to close 45 existing complaints in the last year.
The bulk of these grievances include accusations of a suspected scam along with poor customer service. In many cases, the initial complaint has been addressed by the company, explaining how the initial fear of fraud was resolved and the original billing situation was addressed.
What to Do if You See CBCS on Your Credit Reports
Having a debt collection agency on your credit report is always a bad thing. In addition, leaving the issue unresolved will likely mean continued reports by the agency. This will alert the three major credit bureaus regarding your ongoing lack of payment (whether that is true or not) and will continue to besmirch your financial status.
In extreme cases where an asset is involved, such as a car or house, the agency may even attempt to repossess the item.
Between the threat of repossession and the damage to your credit, it’s important to act fast once you notice the CBCS collections mark on your credit report. Here are three steps you can take.
Verify That It’s Legitimate
The first thing that you want to do is verify that the claims made by CBCS are correct. While you can rest assured the company is legitimate, the money they think you owe may not be.
Start by sending a debt validation letter to the agency formally demanding verification of the owed debt.
As a general rule of thumb, when confirming a debt, you should be able to get concrete information from the agency. If a company is real, like CBCS, it will always have a physical address, email, and phone number readily available. If contact info is hidden, that’s the first sign you’re dealing with a fraudulent situation.
Two signs your debt is legitimate include:
- Getting physical mail: You may get a call or email at first, but always look for snail mail to follow. That is the official way that collection agencies communicate.
- Receiving more information about the debt: If the debt is real, the agency should have no problem providing additional information.
A debt collector isn’t the stereotypical character you’d find in a Charles Dickens novel. They are motivated to find a solution and should be willing to verify claims and work with you. If any collector ever withholds information or threatens you, that’s a good sign the debt is not real.
Pay Off Your Debt
Assuming the debt is indeed real, the next step is to pay it off. This should be an urgent priority.
Failing to pay off the debt quickly is akin to trying to call a plumber or replace a pipe without turning off the leaking water first. The sooner you can get the debt resolved, the sooner you can begin to address the damage to your credit.
Consult With a Credit Counselor
If confirming the debt and paying it off are proving too challenging, you may want to get professional help.
A good credit counselor provides access to professional services that can be instrumental in resolving the situation. They can help you negotiate with creditors and create a debt management plan.
How to Remove CBCS From Your Credit Reports
There are two scenarios to consider when trying to remove a CBCS item from your credit report.
First, if the debt is fraudulent — or even if a detail about a real debt is incorrect — you can file a dispute letter with the credit bureaus.
If you find that the debt is legitimate, the process is more difficult, though not impossible. Start by paying off the debt. Then send a good-faith letter requesting that the item be deleted from your account.
Once again, you may want to seek out professional help during this process. A good credit repair company can help guide you through the steps of removing unwanted items from your report and generally repairing your credit.
Will You Be Sued by CBCS?
Any form of overdue debt is open to the possibility of a lawsuit. However, unless you owe an enormous amount of money, it’s unlikely that CBCS will take the costly and drastic step of bringing you to court over the owed funds.
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