When it comes to debt, many of us do not think about the future consequences if we suddenly find ourselves in financial difficulty and unable to pay our bills. You know that if you do not pay your bill, it will appear on your credit report. Of course, it will affect your ability to borrow money in the future. By the way, what happens if you have a medical debt and it is sent to Capio Partners? How will it affect your credit report? And, how to remove Capio Partners from your credit report? Keep reading this article to learn more!
Overview
Capio Partners is a third-party collection agency that specializes in collecting overdue debts. Capio Partners is located in Duluth, Georgia, and is headquartered in Sherman, Texas. It was founded in 2008. According to research, Capio Partners is the largest healthcare debt buyer in the United States. If you have medical bills, and you do not pay them, then the creditor can sell your debt to a third-party collection agency like Capio Partners. It means that Capio Partners is responsible for collecting the debt from you. So, if you see it on your credit report, it is likely that Capio Partners has purchased your debt from the creditor and will collect the bill from you. Finding a negative mark on your credit report related to Capio Partners is something that can happen to anyone. However, it can still be overcome by doing the right way. One of them by removing it from your credit report.
How Does Capio Partners Affect Your Credit Score?
When Capio Partners takes over your debt, then it will appear on your credit report. You should know that a collection account will stay on your credit report for seven years. And, it will lower your credit score (up to 100 points). Of course, this can make it difficult to get approved for loans in the future. Alternatively, you will also find it difficult to get a good interest rate. Also, you should know that creditors can report your debt to the three major credit bureaus; Experian, TransUnion, and Equifax. It means that if you do not do anything, it will remain on your credit report for seven years. Always check your credit report regularly to ensure accuracy.
Remove Capio Partners from Your Credit Report – Here’s Guide
There are a few ways you can go about removing Capio Partners from your credit report. First, you will have to wait until the account is paid off within 7.5 years from the billing date. If you do not want to wait that long time, then you can do some other methods to remove Capio Partners from your credit report quickly.
Here are some methods to remove it from your credit report:
Method 1: Know your rights
You should know that there is a federal law that protects you from intrusive and unpleasant debt collector behavior, the Fair Debt Collection Practices Act (FDCPA). This federal law restricts the actions of debt collectors, including the manner or way they can contact debtors. Under this federal law, debtors have the right to dispute debt, prohibit harassment, prohibit abuse, and fraud by debt collectors.
- Calling you after 9pm or calling you before 8am.
- Using abusive and obscene language.
- Committing harassment over the phone.
- Misrepresenting themselves when communicating with you.
- Reporting or providing fraudulent information to the credit bureau.
- Contacting your family members, friends, or workplace regarding your debt.
- Called you after you requested that they can only contact you via the U.S. Postal Service.
If you know and understand what your rights are as a consumer or debtor under the federal Fair Debt Collection Practices Act (FDCPA), then you will be able to confront or fight Capio Partners if you experience anything unpleasant from them. It seems that most debt collectors assume that debtors do not know and understand their rights. Therefore, debt collectors often treat debtors harshly in order to get their bills paid. By knowing your rights, it can prevent abuse from that issue.
Method 2: Ask for a Goodwill Deletion
You can ask Capio Partners to remove the collection from your credit report if you have paid off your medical debt. Ask for a goodwill deletion so that Capio Partners can approve it. If you request a goodwill deletion, then Capio Partners will stop reporting the debt. A goodwill deletion occurs when a debt collector agrees to stop reporting a debt that has been paid out of goodwill. There is a crucial step you must do when you want to ask for a goodwill deletion. You must write a goodwill deletion letter to your debt collector. In the goodwill deletion letter, make sure you clearly explain the reason for your late payment and why you want the collection record removed from your credit report.
When you write a goodwill deletion letter, you must explain your situation as it really is. Also, let the debt collector know how the collection is affecting your financial goals. In your goodwill deletion letter, you can also include more personal information, such as your hopes and desires to qualify for a mortgage. That way, it is more likely that Capio Partners will agree and give you a goodwill deletion.
Method 3: Request debt validation
If you have not paid off your medical debt, often a goodwill deletion will not work. So, what are the other steps to remove Capio Partners from your credit report? Do not worry, there is another method to solve your case. You can apply for debt validation if you doubt the validity of your debt or want to remove your debt from your credit report.
It should be noted that the debt collection process is not always perfect. There are times when something goes wrong. When the original creditor sends the debtor’s debt information to the debt collector, sometimes they report it incorrectly. This includes making mistakes in listing the billing amount or acquisition date on your billing entries. In fact, it is possible that the medical debt does not belong to you. Therefore, as soon as possible, you should verify your debt information.
Under the Fair Debt Collection Practices Act (FDCPA) law, you have the right to request debt validation from debt collectors. But, make sure you make the request within the first 30 days of the debt collector contacting you. So, if you want to request debt validation from Capio Partners, make the request within the first 30 days of Capio Partners contacting you for payment. Please write a debt validation letter and ask Capio Partners to confirm information related to your debt. You can ask your friend or someone who knows the way to write a debt validation letter. Alternatively, you can also find examples of the debt validation letters scattered on the internet.
Once Capio Partners has provided you with the information you have requested, you need to check the information carefully. And, you must also note any errors or inaccuracies in the information. Once you have checked the information, and you notice that one or more entries are incorrect, you can file a dispute with the three major credit bureaus. Please ask the agencies to remove the entries. Remember that the law requires debt collectors to prove the terms of the debt. So, if they cannot do so, they must remove the collection from your credit report.
Below is the Capio Partners’ contact information:
Capio Partners
2222 Texoma Pkwy Ste 150
Sherman, TX 75090
Phone number: 678-682-3680 or 903-892-7400
Website: https://capiopfw.com
If your efforts to remove Capio Partners from your credit report are still difficult and unsuccessful, you may try approaching a credit repair company that will help you remove the negative marks on your credit report. Also, you can ask them to improve your credit score. There are many credit repair companies that can help you with your case, one of which is the credit repair company, Credit Saint. The company has professionals with extensive experience working with debt collectors and definitely know how to solve your debt problems quickly.
