Credit Protection Association is an independent debt collection agency located in Dallas, Texas. If you are being contacted by Credit Protection Association it is regarding the collection of a debt or possibly to recover equipment from a cable provider. For example, with Time Warner Cable.
According to their website, Credit Protection has been in business since 1977 and specialize in bad debt and recovery management primarily with cable providers, and utility companies. However, there are reports of them collecting on junk debt accounts. In other words, other types of debt accounts too.
If they are contacting you demanding payment, we would encourage you to consider getting help with a professional credit repair company. Because collection agencies employ all sorts of deceptive if not illegal collection tactics!
Credit Protection Association
13355 Noel Rd. 21st floor
Dallas, TX 75240
Phone number: 1-800-800-6499
4 Steps Before You Pay Credit Protection Association
1. Ask For Debt Validation
You should request that Credit Protection Association validate your debt before you pay. You can do this by sending a debt validation letter. They are going to be required to respond to your request by showing you evidence that they own your debt account.
It is not uncommon for collection agencies to be unable to validate your debt. If this happens they can not legally collect upon your account. And they will have to notify the credit bureaus to delete bad credit information they have reported about your account. You are not legally responsible for the debt any longer!
2. Dispute Your Credit Reports
If you want to clear bad credit that Credit Protection Association has reported on your credit reports, then you should file a credit report dispute directly with the three major credit bureaus. This is your way of telling the credit bureaus that the information CPA has reported about you is not correct. And should be removed from your credit report.
The credit bureaus are required to investigate consumer disputes by contacting the original lender or in this case Credit Protection Association and asking them to verify the account, the information such as your balance and dates of the debt. If Credit Protection Association does not verify your account with the credit bureaus then the credit bureaus are required by law (Fair Credit Reporting Act) to remove the information from your credit report.
3. How Old Is Your Account?
Before you go paying off debt in collections, it’s wise to check and see how old your debt account is. Many consumer debts have a legal statute of limitations. This means that you are only legally responsible for repayment of many debts for a maximum amount of time.
In other words, if you have a credit card charge off, for example, you may only be legally responsible for repayment of this debt for seven years. After the statute of limitation’s runs out the debt is no longer legally your responsibility.
And it is no longer legal for the negative information to be on your credit reports. Collection agencies are notorious for ignoring the statute of limitations on consumer debts and collecting beyond the legal time limit.
4. Negotiate A Settlement Payment
If you have a legit and legal debt with Credit Protection Association then you should negotiate a settlement payment. There are two important things to remember while doing this. First, always negotiate, so you’ll be paying off collections for less than the total balance.
You, never want to pay the total balance that Credit Protection Association is trying to collect. They purchased your account for just pennies on the dollar. For example, if they are trying to collect a $1,000 debt from you, they may have only paid $30 for the collection rights on your account.
This is assuming they paid 3% and we have seen reports of collection agencies paying much less! The bottom line is Credit Protection Association is more than willing to negotiate and settle your account for maybe as little as $100, $500 or even $800 but it’ll always be for less!
Second, it is crucial that you get Credit Protection Association to agree that in exchange for your settlement payment they will stop reporting your account information to the credit bureaus. If you neglect to do this, after you make your settlement payment you will continue to have bad credit on your credit reports from Credit Protection Association.
They will have no problem agreeing with this stipulation. And the reason you must get them to agree to it, is because after you make your settlement payment, you will need to file a dispute with the credit bureaus again.
This time when the credit bureaus investigate and contact Credit Protection Association to verify your account, CPA will not verify your account as per your settlement agreement. This will require the credit bureaus to remove collections from credit report files.
In sum, your credit score is much like your Grade Point Average in school days past. It doesn’t matter if you’re acing all your courses, if you’re failing underwater basket weaving, because this one negative mark is going to tank your overall GPA.
This is also true of your credit score. FICO is very open about this. And this is why it’s so important to clear credit history dings, blemishes, and remove any negative items. We encourage our members to consider professional, legal, and the best credit repair companies to help.
Because in 2016 alone, over 9 million negative items were removed from consumer’s credit reports. One of the best firms is The Credit Pros. They’ve helped client’s successfully remove collections, late payments, charge offs, judgements, liens, and many more negative credit report items.
Get a free credit consultation with a certified FICO professional by calling toll-free 1-877-418-7596. And for more tips, techniques, and strategies about how to improve credit score with Dan Willis, sign up for our free newsletter and join our congregation.
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