How To Get Radius Global Solutions Off Your Credit Report
Debt collectors, especially aggressive ones like Radius Global Solutions, can be an absolute nightmare to deal with. The strain of having to communicate with them can be anxiety inducing or even downright terrifying! So, if you haven't got a clue where or how to start, check out the article below as we’ll guide you, step by step, on what your rights are, how to formally communicate with debt collectors and how to stop them from harassing you altogether!
If you know you are in debt, there isn’t any way of hiding from it as debt never just goes away on it’s own unfortunately. But, with the right tools to help you communicate effectively and keep calm while sorting through your debt, you can make the whole process much easier and way more manageable!
Who Are Radius Global Solutions?
Radius Global Solutions, LLC, is a debt collection and account recovery agency, originally founded in 1982 in the U.S. They are renowned for being one of the most aggressive debt collection agencies throughout the U.S.Their headquarters are located in Edina, MN. They collect debt on behalf of a variety of industries, including credit card companies, medical providers and many more.
The company is accredited by the Better Business Bureau. The BBB is a private organisation that provides the public with information on businesses and charities.They are a non profit bureau and have developed a rating scale from A+ to F that they use to evaluate companies. The gives Radius Global Solutions an A+ rating, but all customer reviews give them one star out of five, suggesting that though they might be rated well in an official capacity, their dealings with customers are not so smooth.
If Radius Global Solutions has bought one of your debts from the original creditor, you’ll know about it quite quickly. Often, customers will get letters and phone calls demanding payments, which can cause much anxiety and stress to the individual in debt. The collection account will show up on your credit report and your credit score will often come crashing down.
What You Can Do
If you are being hounded by RGS or any debt collection agency, there are things that you can do to take control and put yourself in a better position.
2 things to always remember in these situations;
Do Not Panic - it won’t help the situation by getting overly angry or upset. Try to remain nice and calm and remember that you are not alone.
Do Not Ignore The Situation - Debt and debt collectors will never simply just go away unfortunately, so you need to face the reality of your situation to start changing it!
You might feel incredibly overwhelmed but there are some key things to do in this situation and if you’re not sure where to start, follow the list below.
Know What Your Rights Are
The FDCPA or Fair Debt Collection Practices Act lets you know what the rights of debtors and the standards and rules that debt collectors must follow. Here is a brief overview of some of the practices that they must follow;
You cannot be called before 8AM or after 9PM by a debt collector, this applies to both landlines and cell phones.
A debt collector can not get in contact or notify your place of employment.
The debt collector must always communicate through your lawyer, if you have one.
No debt collector can threaten to harm you or anyone you know or use any form of verbal or physical intimidation.
Debt collectors cannot notify your friends or family of your debts, nor can they contact them at any point.
Debt collectors must always identify themselves and the company that they are representing. They cannot claim to be in line with the police or any other law officials.
A debt collector cannot threaten to imprison you or seize your assets or property.
You can see a full version of your rights under the FDCPA online, under the title of the Consumer Financial Protection Bureau.
If a debt collector or company has violated any of these regulations, and therefore your rights, you can report them to the FTC, CFPB or your state’s attorney general!
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Validate All Of Your Debts
From the 21st November 2021, new regulations came into place to help debtors even further. These new regulations state that debt collectors must send you a Notice of Debt within 5 days of their first contact with you. The notice that you are sent must contain much more information than the notices that collectors were allowed to send under previous rules.If the notice is incomplete, it is invalid, and the debt isn’t collectible. That makes it important to know what’s required, so that you know exactly where you stand.
In order to be considered a valid Notice of Debt, the letter must contain an itemization date. This can be one of five different dates.It can be;
The date of the last statement or invoice provided to the debtor by the represented creditor.
The charge-off date that was given to the debtor.
The date of the last payment applied to the debt.
The date of the last transaction that gave rise to the debt.
The judgement date, if there is court judgement on the debt notice.
The date shown on the letter will help you to establish whether or not the statute of limitations has expired on your debt and when you can expect it to be expunged from your credit report.
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Why Doing All Of This Is So Important
Many debt collectors who purchased debts before the new regulations came into effect will not have the required information. They may not be able to get it from the original credit company and might try to bluff or intimidate you into paying them or admitting that the debt is yours.
If you receive a Notice of Debt, make sure you examine it in detail to determine if it complies with the law. If it doesn’t, inform the collector that you will not discuss the debt until you receive a Notice of Debt that complies with Regulation F.
Also read: Did Your Credit Score Drop Off After Paying Off Debt?
Disputing Your Debts
If a debt is not disputed within 30 days, the collection agency will always just assume that the debt is valid. So, always dispute your debts straight away if they’re held by these companies.
If you are using a dispute or debt validation letter template to do this then you must be sure that the template is designed for notices received after the implementation of Regulation F on Nov. 20, 2021. A lot of the information that debtors and collectors used to ask for is now required in the Notice of Debt.
If you are going to send the debt collector a letter, make sure that it is both certified and addresses the following issues;
Valid Documentation - ask for documentation that verifies that you do indeed owe the debt. This could be a copy of the original contract that was drawn up.
Statute Of Limitations - Make sure to ask if the Statute Of Limitations on your debt has expired. The collector doesn’t have to tell you this information outright but they cannot lie about it either.
Licensing - Ask if the agency is actually licensed to collect debt in your state or area. Once again they cannot lie to you about this. You can also ask for the date of the licence, the licence number and the name and number of the official state agency that issued said licence.
Billing Statement - Ask for a copy of your last billing statement, that was sent by the original creditor.
Send a letter, including all these details to Radius Global limited by certified mail. Once you receive the debt validation letter, you have 30 days to respond and send off your letter, disputing the debt. If they can’t prove it’s yours, they can’t collect it or report it to the credit bureaus!
They might not be able to come up with that proof. Remember, Radius Global Solutions purchased your debt, in bulk with a bunch of other debt, from the original creditor.
Also read: Proof of Income for a Mortgage
The Statute Of Limitations
Always remember the Statute Of Limitations! Check the date of your debt against the statute of limitations in your state or region. If the statute of limitations has expired, the collector cannot pursue any legal action against you.
It is also key to note that making a payment or in fact, even acknowledging that the debt is yours, can restart the statute of limitations. If the statute has expired, this will not remove an account from your own credit report unfortunately. If the statute of limitations has expired or will expire soon there’s a good chance that the seven-year period of appearance on your credit record is also nearly up.If the statute of limitations is nearly up your best bet might be to just wait it out.
Your check stubs can be a great way for you to keep track of your finances so you can use them as a tool when applying for a loan.
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