Credit Corp Solutions: How to Handle a Collection Call

Credit Corp Solutions is an established debt collection agency in the United States. They have been in business since 2011. Credit Corp purchases and collects consumer debt including credit cards, unpaid retail finance, sales finance, and personal loans. 

Just like dealing with any debt collector, be prepared. Verify that you owe the debt, that the company does not harass you, and that you have the right tools to settle your debt. 

What is Credit Corp Solutions? Are they real or a scam?

Credit Corp Solutions is not a scam. It is a real debt collection agency. They are located in Draper, Utah, and employ about 78 people. They buy debt from retailers and finance companies, often for pennies on the dollar. Credit Corp then attempts to collect through a payment plan or a negotiated settlement.

According to their website, "Tasman Credit, Tasman Credit Corp, and Credit Corp Collections Agency are trading names of Credit Corp Solutions Inc."  Other companies have similar names, such as Credit Solutions Corporation (a debt collection agency) or Credit Solutions (a credit repair agency).

Do you owe Credit Corp Solutions money?

Since Credit Corp purchases past-due or delinquent debt from various financial and retail companies, it is quite possible that you now owe the outstanding balance to Credit Corp.

However, there are various reasons that you may not owe the original creditor or the current owner of the debt money. For example, if you were a victim of identity theft, the debt may not belong to you. It is also possible that you already paid off the debt, they have the wrong information in the file, or the statute of limitations expired.

 Step 1 - Validate your debt.

If Credit Corp Solutions contacts you to collect a debt - validate it. Once contacted, you have 30 days to validate the debt, so act quickly. The best method is to send a registered letter. Before you proceed with the collection agency, always validate the debt.

The law obligates Credit Corp Solutions to validate the debt. If you don’t receive proper validation, then send a notice of insufficient validations. If the collection agency cannot validate the debt, it has no legal basis to collect it.

>>Learn more: Follow the steps described in the Bills.com debt validation article to preserve your rights under the FDCPA.

Step 2 - Check to see if the Statute of Limitations (SOL) is valid.

State laws set the time that a creditor can sue you and collect on the debt. The rules are complex and not easy to understand. Since Credit Corp Solutions is a third-party debt collection once the SOL expires, it cannot pursue a lawsuit. 

However, even if you think that the SOL expired, the creditor may have a different opinion on the expiration date and pursue a lawsuit against you. It is always wise to respond to a lawsuit. In the case of an expired SOL, you must answer any summons and claim an affirmative defense.

Even if they don't pursue a lawsuit, the debt collection agency has the right to contact and try to get you to pay or negotiate a settlement. 

>> Learn more: Learn more about states' laws regarding statute of limitations.

Stop Credit Corp Solutions from debt collection harassment.

Debt collectors often are highly aggressive in their collection tactics. Although The Fair Debt Collection Practices Act strictly regulates debt collection agencies.

Here are some of the actions that they are forbidden to do:

• Use the Telephone to Annoy or Harass
• Use Abusive or Threatening Language
• Threaten Arrest
• Contact a relative, friend, or colleague who doesn’t own the debt
• Contact a Consumer at Work
• Call at an unreasonable time such as before 8:00 AM or after 9:00 PM
• Seek Unjustifiable Amounts

If you believe Credit Corp Solutions violated your rights under the FDCPA, consult with a consumer rights attorney in your area. Discuss possibly filing a lawsuit against the collection agency; not only could a lawsuit result in the cancellation of your debt, but you could be awarded damages. 

Learn how to negotiate your debt with Credit Corp Solutions

Credit Corp Solutions will contact you, hoping to receive a payment on your debt.  Since they purchase delinquent debt for pennies on the dollar, they will often settle for much less than your actual balance. If you are suffering a financial hardship, then it might be possible to negotiate a large settlement. They hope to get you on an affordable payment plan but show flexibility.  They realize that

"Falling behind can happen to anyone and we’d like to help you get back on track....and we're committed to working flexibly with our customers to help them repay their outstanding balance".

It is possible to do negotiations on your own. However, dealing with an aggressive debt collector,  especially with aggressive lawyers, is stressful. It takes a significant amount of time and effort. It is helpful if you convince them that you are in a hardship. Here are three tips: Be calm, clear, and convincing. Be persistent. Send a debt negotiation letter.

If you have a large debt and financial hardship, consider using a professional debt negotiation company. Reputable debt settlement companies have large teams of negotiators, vast databases, and sophisticated tools. They know what range original creditors and collection agencies have accepted for payments in the past. A professional can reach a negotiated settlement with your debt collection agency quickly.

Complaints and lawsuits about Credit Corp Solutions

Credit Corp has complaints registered in the BBB and the Consumer Finance Protection Bureau (CFPB) like most collection agencies.

The CFPB has complaints about collecting a debt that the consumer didn’t owe, harassment and impersonating an attorney, law enforcement, or government official. The complaints themselves are not proof of illegal or improper activities, although an excellent source to learn about how consumers perceive the interactions and problems they have with the debt collection agencies.

Here is a couple of example of complaints from the CFPB website:

Communication tactics - You told them to stop contacting you, but they keep trying "On or about XX/XX/2021, I sent an email to Credit Corp Solutions asking them to : a ) cease and desist with any further phone calls and, b ) to provide verification of any alleged debt, I provided them with my mailing address through the end of XXXX, 2021. Since that time, they call at least three times a day from various numbers, purportedly local to XXXX. On Monday, I answered one call and the person on the other end insisted on getting me to divulge personally identifying information. When I refused, she told me they would continue calling. I received another phone call today, XX/XX/2021 at or about XXXX, CT. I should not have to make repeated requests for them to cease and desist".

Communication tactics Frequent or repeated calls "I received a total of 12 phone calls on XXXX XX/XX/2021 and the morning of XXXX XX/XX/2021 from Credit Corp Solutions. The company failed to cease calling me after I asked them to cease and desist any/all communication with me. On XXXX XX/XX/2021 they started calling me at XXXX, at which time I asked to speak to a manager at the call center. I spoke to XXXX XXXX and he informed me that they use an automated dialing system to call debtors and that they were looking for someone named XXXX, about whom I have no knowledge. I'd like for this company to stop harassing me, my family members, and anyone associated with me". 

Deal with a Credit Corp Solutions lawsuit

Although Credit Corp Solutions Inc has the right to pursue a lawsuit in some circumstances, they cannot make empty threats to sue you when making a collection call. Depending on the events, they might start a lawsuit and pursue obtaining a public judgment leading to liens on personal property, wage garnishments, or bank levies. 

If a lawsuit is filed against you, consult with a lawyer in your state with consumer law experience. You must file an answer to their summons and complaint or risk losing the lawsuit by default. Ignoring a summons will not make it go away, so take action to respond to the lawsuit.

Can you remove Credit Corp Solutions from your credit report?

Credit Corp may appear on your credit report under their name or as a Tasman Credit Corp.  

Most accurate negative tradelines remain on your credit report for seven years from the delinquency date. Bankruptcies remain for ten years, and judgments can remain for even longer if the creditor renews them.

It is possible to remove inaccurate data relating to the original creditor or the debt purchaser. In that case, it is possible to file a dispute with the Credit Reporting Agencies and have the negative items removed from your credit report.

>> Learn more: Learn how to dispute a credit report.