ACI (American Coradius International, LLC) is a nationwide financial service agency that represents banks and finance firms as a first and third-party debt collection agency. Student loan debts, credit card debts, charge offs, retail debt, and other debts will be collected by ACI debt collection agency.
Debt collection firms frequently collect on fictitious accounts. If the debt account ACI is contacting you about is one you recognize, make sure you understand your rights before speaking with them about it.
Is it possible for American Coradius to take legal action against me? If the debt is valid, they can take action against you. They have been accused of failing to provide mandatory disclosures to consumers under the Fair Debt Collection Practices Act, generally known as the FDCPA, according to the internet. When a debt collection agency, like as ACI, contacts you, they can’t hide the cause for the call. At the start of the collection procedure, a debt collector must inform you that you have the right to contest the claim and seek confirmation from the debt collector.
On behalf of a client having a CitiCards account, Tayne Law reached an agreement with ACI. The original total was $15,846.38, however we were able to settle for $3,961.60 with ACI! As a result, you will save 75%!
We deal with debt collection agencies such as American Coradius and others 24 hours a day, seven days a week. As a result, we are well-versed in consumer rights and can appropriately examine your position. In your circumstance, we’ll give recommendations for the best course of action.
Working with a reputable debt settlement law firm, such as Tayne Law, will provide you peace of mind that your debts are being handled properly. Call today for a no-cost, no-obligation debt consultation and learn how much of a difference a phone call can make. Now is the time to call! 866-890-7337
It’s frightening to believe you’re being conned by a debt collecting agency since you may not know where your money is going.
Rest assured, this organization is legitimate (they will not defraud you! ), and they have the following impressive credentials:
- With the registration number 03775287, they are registered with Companies House.
- They’re also registered with the Financial Conduct Authority with the number 708400.
Does ACI report to credit bureaus?
The debt collection agency American Coradius International is based in the United States. They’re usually listed as a ‘collections’ account on your credit report. If you have a collection on your credit report, it will hurt your credit score (unless removed).
How do I know if a collection agency is legitimate?
If you’re worried about debt collector scams, here’s how to safeguard yourself, your bank account, and your personal information:
Contact your creditor
Investigate the source of the debt by contacting your creditor to check if it has any information on the debt. You’ll know it’s a legitimate debt collector if the company that contacted you matches what your creditor has on file. Always request a letter of validation or confirmation of the debt. If you receive a false debt collection letter, you’ll be able to compare it to the legitimate one from the collection agency.
Check your credit report
While the majority of debt is reported to the credit bureaus, not all debt collectors do. Yes, it’s perplexing. This implies the debt may still be yours, but it will not appear on your credit record.
Don’t disclose any financial information
If someone asks for both personal and financial information, don’t tell them anything they don’t already know. Instead, ask for the caller’s name, the collection company’s name, contact information such as a phone number or email address, and the company’s physical address.
It’s a good sign if the collector is willing to share information. Next, try calling or sending an email to the company. It’s a red signal if you get a dead line or an email that bounces back.
Stay calm and know your rights
Dealing with a debt in collections can be difficult and humiliating, but Nitzsche advises not to rush.
“A legitimate debt collector should be able to show you documents showing where the debt originated, when they obtained it, and how they arrived at your present balance,” he says. “As soon as collection attempts begin, always request this verification.”
A legitimate debt collector is required by the Fair Debt Collection Practices Act to identify themselves and cannot contact you at an opportune time or location.
They are also prohibited from discussing your debt with anybody other than your attorney, the attorney for your creditor or collection agency, and, in some situations, a consumer reporting agency.
Knowing your state’s debt statute of limitations is also beneficial, according to Nitzsche. This could be anything between three and ten years.
“If the debt they allege you owe is past the statute of limitations, the collector can try to collect but not sue you,” he explains.
Who do I call if my student loans are in collections?
If you owe money on a federal student loan, you must contact the collection agency assigned to the debt. If you’re not sure which collection agency your loan was allocated to, call our Default Resolution Group at 1-800-621-3115 for the address and phone number of the agency.
Who are asset collections and investigations?
A company that specializes in debt collection is Asset Collections and Investigations, sometimes known as ACI debt collector. They also state on their website that they ‘assist customers in managing their outstanding bills.’
When you visit their website, you’ll notice that there isn’t much else you can learn about them.
They are, nevertheless, a Blackpool-based company that was founded in 1999. Clearly, they’re a well-known name in the debt collection industry.
Does American Coradius International sue?
American Coradius International is a full-service financial services firm that represents banks and financial institutions across the country.
As a third-party debt collector, American Coradius International is bound by the Fair Debt Collection Practices Act (FDCPA), a federal statute that protects customers from unfair debt collection practices. Despite this, customers have filed complaints alleging that American Coradius International is in violation of the FDCPA. The debt collection service has been accused of threatening to sue clients without actually meaning to do so, as well as talking to third parties regarding consumers’ debts. Before communicating with ACI debt collectors, it’s critical that you understand your legal rights.
Can PayPal credit send you to collections?
Paypal Collections is most likely listed as a ‘collections account’ on your credit report.
When you forget to pay a payment for an extended length of time, your debt is sold to them.
If this account appears on your credit report, it could have a negative impact on your credit score (until it gets removed).
Option #3 is generally preferred by people because it is a hands-off strategy that permits experts to aid in the removal of collections.
What debt collectors Cannot do?
You cannot be harassed or abused by debt collectors. They are not allowed to swear, threaten you or your property with illegal harm, threaten you with illegal activities, or falsely threaten you with actions they do not intend to take. They also can’t phone you repeatedly in a short amount of time to annoy or harass you.
Debt collectors are not allowed to make false or misleading claims. They can’t, for example, lie about the debt they’re trying to collect or the fact that they’re trying to collect it, and they can’t use phrases or symbols in their communications to you that make them appear to be from an attorney, court, or government agency.
Debt collectors are not permitted to contact you at inconvenient or odd times or locations. They may call between the hours of 8 a.m. and 9 p.m., but you may request that they call at a different time if those hours are difficult for you.
Debt collectors are permitted to send you notices or letters, but the envelopes must not contain information about your debt or any information meant to embarrass you.
You can ask a debt collector to only contact you by mail or through your attorney, or you can put other restrictions in place. Make sure your request is in writing, that it is sent certified mail with a return receipt, and that you preserve a copy of the letter and receipt. You also have the right to request that a debt collector cease all communication with you. If you do this, the debt collector can only contact you to affirm that it will stop contacting you and to warn you that it may file a lawsuit or take other legal action against you. Remember that even if you urge a debt collector to cease contacting you, the debt collector may still sue you and disclose your debt to credit reporting agencies, damaging your credit.
See Debt Collector Contacting Your Employer or Other People for information on when a debt collector can contact your employer or other people.
What should you not say to debt collectors?
It’s also critical to keep track of what you shouldn’t discuss with debt collectors during the collection process. The following are three things you should never tell a debt collector:
Never Give Them Your Personal Information
The agent will request personal information in order to verify your identity and debt ownership.
You are not required to respond to these questions. Instead, request that the agent exclusively communicate with you by email.
Never Admit That The Debt Is Yours
There’s no reason to do this, and it could get you in hot water later if you try to dispute the amount as erroneous on your credit report.
Many old debts have bogus interest charges that you aren’t required to pay, but debt collectors will try to collect nevertheless.
It’s advisable to hang up after telling the collection agent to provide you the information in writing. You have the legal right to do so, and we’ll get to that in a moment.
Never Provide Bank Account Information
While you’re on the phone with a debt collector, they’ll try to persuade you to make a payment, even if it’s a tiny one. To complete the transaction, the agent will need your bank account or credit card details. It may appear to be a simple and quick way to end the call and get off the phone. However, this can lead to a number of serious issues:
- You Lose Leverage: Your payment is your leverage when it comes to dealing with debt collectors in the future. So don’t pay too soon and lose your most valuable bargaining chip. Save it for a time when you can receive something in exchange, such as requesting that the creditor delete unfavorable items from your credit report in exchange for a payment.
- You Share Account Information: The agent may claim that he or she will not keep your bank account or credit card information on file. You, on the other hand, have no way of knowing whether or not this is true. Additionally, debt collectors have charged you more than you committed to pay.
- The Statute of Limitations on the Obligation is Reset: Making a payment resets the statute of limitations on the debt. This provides the creditor additional time to file a lawsuit against you for losses.
It’s fine if you wish to pay off the debt or sign a payment plan, especially if it’s part of a larger debt management strategy. But first, acquire a written agreement.
