Locating Collection Agencies

This article is about how people are sometimes wrongfully sent to collections. Sometimes people have a hard time finding the name and/or other pertinent information about the collection agency which has their account. There are a few links in my article which can be of help to people.

Good credit is probably the most (one of the most) important things an individual could have in the USA. Unless you're someone like Bill Gates or Warren Buffet; most of us can't afford having bad credit. A good FICO score is of the utmost importance. In the USA, your creditworthiness is judged on how high your FICO score is. A Good FICO score isn't only your ticket to acquiring a bank loan; it's also your ticket to acquiring low interest rates. Unless you have a high FICO score, you won't get a good interest rate on your loan.

You decide to apply for a credit card. You don't think you have anything to worry about (This is the reason credit-motoring-agencies are successful; if you haven't joined one yet-you should.), a couple of weeks later you get a letter from the bank (credit card) telling you they've denied your credit card application. This bad news ruins your day (or half of it, since most of us don't get mail until late in the afternoon).

The next day you decide to contact the 3 credit bureaus: Trans-Union, Equifax, and Experian. These days, you can get your credit report within minutes if not seconds (you should always opt for the three reports, since oftentimes one of the three credit bureaus' will report an item on your credit report the others won't/don't, or visa versa, etc.....). You notice that doctor's office/hospital...who tried to contact you in the past in regards to your delinquent account; or perhaps they didn't try to contact you and just sent you to collections by mistake,-doesn't matter. The point is you're now faced with a dilemma, and the collection agency is the only one which can update your information with the three credit bureaus; not the hospital and/or doctor' s office that sent you to collections. If the hospital/doctor's office feels it was a mistake that you were sent to collections, they can retrieve the account back in-house. But a very/extremely important caveat::: the hospital/doctor's office cannot update your credit report and/or delete or remove a derogative (when you have an account in collections it's known as a derogative) from your credit report. Only the collection agency is licensed to update/remove information on/from your credit report.

Please reference my links for further information on this topic. It will be useful to people in this situation.