Today, various kinds of businesses take advantage of debt collection agency services to handle past-due debts of their customers.
Instead of having to constantly deal with debtors, many companies prefer selling the consumer’s debt account to the agency so they can focus on their core business activities. Of course, they’ll transfer their consumers’s debt to the collection agency they trust.
And if you’re a business owner who’s looking for a trustworthy debt collection agency, you can consider Credence Resource Management. It’s known that they’ve worked for dozens of companies across the United States since their operation in 2003.
Okay, here’s everything you can know about Credence Resources Management!
About Credence Resource Management
Headquartered in Dallas, Texas, Credence Resource Management, LLC., serves as a third-party debt collection agency. They’re also available in California, Washington, and Pune, India.
On the customer’s credit report, Credence Resource Management appears under the following names:
- CRM
- Credence Collections
- Credence RM
- Credence Resource Management AT&T
So, if you see those on your credit report, it’s actually Credence Resource Management.
What is the Focus of Credence Resource Management?
Credence Resource Management specializes in collecting debts from several major businesses, including:
- Retails
- Healthcare firm
- Telecommunication company
- Utilities services
- Financial service
For more information, AT&T, Dish Network, Cox, and DirectTV are the most common telecommunications companies that Credence has partnered with.
How Does Credence Resource Management Work?
Credence Resource Management first purchases a consumer’s current or past-due debt from a business after the company offers it to them. Sure, they’ll buy the debt at a cheaper price.
Now, Credence is authorized to collect debt from the consumer of the company. Then, they’ll call the debtors by phone, mail, and email until the person pays off all their debts.
If the debtor cannot pay their debt yet, they can negotiate with Credence regarding their debt repayment plan. When an agreement has been reached, Credence is obliged to remove the consumer’s credit account from their credit report.
If there’s no agreement and the debtor is reluctant to negotiate, Credence reserves the right to continue to display the entry on their credit report for up to seven years.
Note: If the debt is successfully paid off by the debtor, the company is legally allowed to request repayment of part of their consumer debt.
Is Credence Resource Management Reliable?
When it comes to legality, Credence Resource Management is a valid debt collection agency with a BBB-accredited status. And the company rating is “B” as of April 2023.
Unfortunately, Credence received more than 700 complaints on BBB, which were closed in the last year, and an average of 1.2 out of 5 stars on Google Reviews.
See Credence’s reviews on BBB here.
From the reviews, you may see that almost all of them are negative reviews. Due to excessive complaints, the BBB ends up only showing about 25% of the complaints.
Most customers stated that Credence acted inhumanely in collecting debts and gave the impression of harassing them.
Worse yet, Credence collected debts without any validation regarding their debts from the original creditors. Also, they collect debts that consumers have never borrowed before from any party. This is why Credence is considered a fraud.
Plus, the spam calls from Credence and the inhumane way of collecting debts are among the most complained about by consumers on BBB.
Before you hire Credence to sell your customer’s debt account, it’s best for you to figure out reviews from other consumers, either on BBB or Google Reviews.
Of course, bad debt collection performance will slightly affect your company’s reputation in the eyes of customers who’ve worked with you. Keep in mind that even though they leave a past-due debt with your company, they remain your customers as well.
What If Credence Resource Management is Calling You?
Credence Resource Management may call you by phone and tell you about your debt. If it happens, you may be surprised that you’ve never owed this company anything. So, never pay the debt immediately without validation first.
The first thing you have to do is to validate your debt. To do so, you can write a debt validation letter to Credence and ask them to provide information such as creditor information, the amount of the debt, and the date the debt started. Usually, debt collection agencies will have 30 days to validate your debt after the initial communication.
If Credence has successfully validated your debt and you really have an unpaid debt to the original creditor, there’ll be two options you can take, as follows:
- Pay off your debt.
- Do negotiations with Credence regarding your repayment plan.
If you do either of these, Credence is obliged to delete your debt account from your credit report. If not, this will impact your credit score.
When your credit score decreases, you will find it difficult to apply for loans in the future, such as car loans, mortgages, loans for home renovation costs, credit cards with good credit card interest rates, etc.
It’s important to note that the best way to get in touch with Credence is in writing, so you’ll have every record of communication with them.
How If Credence Fails to Validate Your Debt
If Credence fails to verify your debt, you have the right not to pay it and ask them to remove the entry from your credit report.
If they ignore your request and keep collecting via spam phone calls, you must defend yourself. However, you have rights under the Fair Debt Collection Practices Act (FDCPA).
The following are a few circumstances when Credence violates the FDCPA:
- Credence makes multiple phone calls a day.
- Credence threatens your family and damages your property if you don’t pay your debts.
- Credence pretends to be a law enforcement officer, so you feel afraid and end up paying for it.
- Credence contacts your workplace and informs your boss about your debt. Sure, this will damage your reputation and slander you if you don’t have any debt at all.
So, if Credence does any of the things above, you can report it to law enforcement.
Credence Resource Management Contact Information
The corporate office of Credence Resource Management is located at 4222 Trinity Mills Road, Suite 260, Dallas, TX 75287.
If you have any questions, you can contact them through the following:
By phone:
- 1-855-880-4791 (Customer Care)
- 1-855-880-4792 (Customer Complaints)
- 1-855-880-4792 (Disputes)
- 1-855-880-4791 (Pay by Phone)
If you want to send mail to Credence, you can deliver it to their correspondence address:
PO Box 2300
Southgate, MI 48195-4300
