Third Party Collection Agency Like Alliance One Fined $1.5 Million for Keeping Collection Marks On Consumer Credit Reports But You Can Have Alliance One Deleted!

Alliance one collection agency is one of the biggest third party collectors in the country. They are an independent company that a creditor would use when they are unsuccessful in trying to collect on a debt that they claim is owed to them. Alliance one would work on either a commission basis or they would buy the rights to the debt, which means that the debtor/consumer would now owe the money to alliance one and no longer the original creditor.

A lot of times people are totally clueless when they see the name alliance one on their credit report. The reason is because they did not do business with the company but instead a creditor that sold the debt to alliance. This is why they would be called a third party debt collector. A few years ago a third party debt collector like alliance one was fined $1.5million dollars by the FTC for violating the Fair Credit Reporting Act, which is the law that protects consumers credit and the guidelines for inputting and removing information on credit files.

They were fined for not including the “date of last activity” on consumers’ files, which would allow them to indefinitely leave the negative on the report. The law states that negative collection accounts should be removed after 7years counting from the date of last activity OR IF THEY ARE NOT VERIFED WHEN DISPUTED BY THE CONSUMER, but if they did not include a date, then there was no way to know when the timeframe was up! This was the largest amount of money that a collection agency has ever had to pay. You should understand that the law makes it possible for you to have negatives deleted from your reports with Equifax, Transunion and Experian. The key is knowing exactly how the challenge/dispute process works!

This dispute process is your right, and the law was created by congress to protect consumers and what goes on their file. Keep in mind that its about the PROOF! If a credit agency such as Equifax claims that an item should be present on your report, they need to provide the proper evidence to back it up, otherwise the item needs to be deleted from your file. They can also be fined for non-compliance if they do not follow the law. (continue below) They have 30 days from the date of receiving your dispute/challenge letter to investigate. By the end of the 30 day timeframe, if they cannot provide proof, or cannot complete their investigation in time then the negative MUST BE DELETED FROM YOUR FILE, PERIOD!

Every year thousands of people around the country that know how the system works take advantage of this information to have negative misleading items removed from their credit profiles. I know because as a Real Estate professional, I have referred people to Credit Repair Advocates.

You might be saying to yourself what is a Credit Repair Advocate? Well the simple answer would be a solution to the problem of not knowing how the Fair Credit Act laws work, in order to use it to your advantage. While working in the world of real estate, many of my clients had an alliance one collection or other type of charge-off stop them from being able to get approved for a home for their family.

I personally did not have the time to carry out the process of having alliance one and other negatives deleted in order to improve their rating so I sent them to a Credit Repair Advocate. This is a company that has an in-depth legal knowledge on how the Fair Credit Reporting Act works and assists people making sure the bureaus are keeping to the law and deleting negatives that cannot be PROPERLY VERIFIED AS ACCURATE.

They worked with my clients each step of the way so that they would end up with deleted negative entries, which would increase they credit scores high enough so that they will be qualified enough to purchase a home with a decent mortgage interest rate. Keep in mind that the Fair Act states that as long as a negative cannot be proved to be accurate, it must be deleted. It does not matter if it’s a collection, charge-off, bankruptcy or even foreclosure. As long as there is no proper proof, it has to be deleted. A lot of these companies don’t have the proper prove and this is what a Credit Repair Advocate knows and makes sure your rights are protected.

The bureaus have 30 days from the date that they receive the dispute/challenge to finish their investigation. Then they have to get back to you in writing on the outcome of the investigation.

Here is a letter sent to a consumer after the investigation of an alliance one entry.

Over the years they have helped clients delete thousands of negatives, click here to see them.

Hope you have found this information useful.

Good luck, Tony Banks

P.S. You can learn more about having alliance one collection charge-offs deleted by clicking here Here is what others that have been through the process are saying;

“I just wanted to thank you and tell you that your system is going to be able to put me in a home almost two years earlier than I originally expected to. My credit score has jumped over 60 points in the last 6 months to a very respectable level and now when I apply for a mortgage...I will be able to name my price. So file this e-mail in the happy customer section and I will refer anyone with less than perfect credit to your services it has made a world of difference for me!!!! Thanks again!!!!”

— C.R., Lexington client* “I am very impressed & pleased with your service. Also, a side note, that about a month ago I moved into a new apartment where as usual, they checked my credit... thanks to your help, I got in. That would not have happened before. Thanks again. Have a super day!!!!”

— T. Willson, Lexington client* “Thank you for your service. I have had great results from the work you have done on my behalf. I had been warned not to use any credit repair company, but after some research I decided to give Lexington a try. The results have been better than expected. Several items have been deleted from my credit report and more inportantly my FICO® score has dramatically improved. I was recently approved for 'best rate' financing on a new car and a home construction loan. Thanks.”

— B.K., Lexington client*

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