The Zenith Acquisition Corp is a third-party collection agency. They have been in business since 1996. In the summer of 2012, Zenith Acquisition Corp sold its purchase portfolios to the Mercantile Adjustment Bureau.
In other words, they sold most of their debt accounts and the collection rights on those accounts to another collection agency. This means that Mercantile may now be contacting you for payment, and they could be reporting a collection on your credit reports.
Zenith Acquisition Corp
220 John Glenn Drive, Suite 1
Amherst, NY 14228
Phone number: 800-479-6011 or 716-213-0674
3 Ways To Remove The Zenith Acquisition Corp From Your Credit Report
1. Dispute Credit Report
If you have bad credit from Zenith Acquisition Corp on your credit report you should file credit report disputes. These credit disputes should be filed directly with each of the major credit bureaus. Often they will report a paid or unpaid collection on your credit report.
The credit bureaus will investigate your dispute by contacting Zenith and asking them to verify your account information. If your account is not verified then the credit bureaus must remove collections from credit report files.
This is in compliance with the Fair Credit Reporting Act. As a result of Zenith Acquisition Corp selling many of their debt accounts, we would be shocked if they verified your account with the bureaus.
2. Request Debt Verification
If your debt is validated with the credit bureaus. Then you can always request that Zenith Acquisition verify your debt account, directly with you. You can do this by sending a debt verification letter. They are going to be required to give you documentation that shows they have purchased the legal rights to collect on your account.
3. Negotiate A Settlement Agreement
If your account is verified. Then you should consider the statute of limitations. Many consumer debts have a legal time period, for which you are responsible for repayment. After that time window runs out, then you are no longer legally responsible for repayment. And negative information can not be reported on your credit reports.
Most debts have a seven-year statute of limitations. However, this is going to vary from state to state. It is also smart to negotiate to settle your debt for only a fraction of the total balance. Because Zenith Acquisition Corp is a junk debt buyer this means they’ve purchased collection rights on your account for only pennies on the dollar.
They may be willing to settle a $200 collection account for only a $50 payment. The exact amount you will have to pay will be influenced by, how old your debt account is? In exchange for your payment, you must get them to stop reporting negative information to the credit bureaus.
If instead, you only pay off collections, the only change will be with the status of the collection on your credit report. It will change from unpaid to a paid collection. This is still a very damaging item and will negatively influence your credit score.
In sum, your credit score is a lot like your Grade Point Average (GPA) in school days past. It doesn’t matter if you’re acing all your classes, if you’re failing underwater basket weaving, because this one negative mark is going to obliterate your GPA.
This is also true of your credit score. FICO acknowledges this, very openly. And this is why it’s so essential to clean credit report dings, blemishes, and remove any negative items. We encourage our members to consider professional, legal, and legitimate credit restoration 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 remove collections, late payments, charge offs, judgements, liens, and many more negative credit report items.
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