Excessive debt? Take this quiz to find the best solution for you.
Did you just get a collection letter from Credit Control, LLC in the mail?
If so, take a deep breath. Let's unravel this and chart out the best way to move forward...
Who are Credit Control, LLC?
Credit Control, LLC, established in 1989, is a debt collection agency based in Earth City, Missouri.
They provide collection services for various clients including major financial institutions, telecom providers, and educational and healthcare providers across all 50 states, as well as Puerto Rico and Guam.
A large percentage of their work involves collecting past due credit card debt and past due personal loans.
Know your rights as a consumer
If someone owes money, they are safeguarded by the Fair Debt Collection Practices Act (FDCPA). This federal law restricts the actions and conduct of third-party debt collectors like Credit Control, who collect debts on another company's behalf.
Under the FDCPA, there are several protections in place for consumers. Debt collectors are forbidden from engaging in abusive or deceptive behaviors. This means they cannot call you at unreasonable times, subject you to incessant calls, use inappropriate language, or threaten you in any way. They are also prohibited from misrepresenting the amount you owe or falsely claiming to be attorneys or government officials.
If a debt collector violates your FDCPA rights, you can file a complaint with the Federal Trade Commission (FTC) or consult with an attorney about possible legal actions.
For addition information on the FDCPA, click here. Or you can read the actual text of the FDCPA here.
Is the claim from Credit Control legit?
The first thing to do is determine if the alleged debt on the Credit Control collection letter is legitimate ... or not.
IMPORTANT: Don't ignore their collection letter. Whether you legitimately owe the debt or not, make sure to respond. Failure to respond usually only makes matters worse ... especially if you owe the debt.
When not to use a debt validation letter
If you know the claim from Credit Control is legit, we do not recommend utilizing the debt validation process as a stall tactic or in hopes they "lost the paperwork".
In today's digital world, it's highly likely Credit Control will be able to produce the documentation validating your debt.
Requiring Credit Control to invest time and resources validating your debt (when you know the debt is indeed valid) may antagonize them and hamper your ability to negotiate a favorable outcome on your outstanding debt.
Negotiating a settlement or payment plan
If your debt is valid, it's best to be proactive and try to work something out with Credit Control on a voluntary basis. Otherwise, legal action against you might be their next step.
The preferred solution would be to negotiate a lump sum settlement for a reduced amount if you have access to immediate funds.
"Plan B" is to offer a monthly payment plan if you do not have access to sufficient funds to offer a lump sum settlement.
In either case, if you reach a mutually acceptable agreement, get everything in writing before remitting any funds.
Will creditors really accept less than full balance to settle past due accounts? Absolutely. Here's proof. For the past 15 years, we've helped our clients obtain millions of dollars in debt relief ... without the need to file bankruptcy. Request a free phone consultation to see if you qualify.
Hire an experienced debt professional
Dealing with debt collectors is stressful and time-consuming.
There's also an art and a skill to negotiation.
An experienced debt professional will almost always obtain a better settlement on your behalf than you could get on your own.
If you'd like help resolving your outstanding debt(s), request a free consultation. Negotiating settlements is our specialty and over the years we've obtained millions of dollars of debt relief for our clients.
We have considerable experience working with Credit Control, so there's a good chance we can secure a favorable outcome for you.
Conclusion
If you have a legitimate outstanding debt being handled by Credit Control, we recommend being proactive and try to work something out voluntarily.
Assuming you have access to sufficient funds, the best option is to try and negotiate a lump sum settlement for less than full balance. If you don't have access to funds, then the next best option is to work out a monthly payment plan you can afford.
Whatever you do, don't ignore calls or letters from Credit Control (or any debt collector) because that can complicate matters and/or cost you money.
To see if you qualify for debt relief, fill out this form so we can assess your situation.
All consultations are free and confidential.
