Amcol Systems is a third party debt Collection Company that is based in Columbia, South Carolina. It is a large company that has over 200 employees, and they specialize in providing debt collection services to hospitals, healthcare systems, and physicians.
It is common knowledge that most people do not have a very good experience with debt collectors, and as consumers, it is high time that we learned what our rights are when it comes to dealing with debt collectors.
You should know that they are not allowed to use any intimidation tactics when dealing with you, and neither are they allowed to threaten you in any way. In fact, did you know that you can send them a cease and desist letter telling them to stop harassing you with phone calls? Well, you can.
If you recently pulled your credit report and found Amcol Systems listed as one of the debt collection companies, then, chances are that you have a debt that is overdue.
In this review, I will tell you how to remove this company from your credit report, and also tell you how to deal with any other debt collector who comes calling.
How do they work?
They start off by calling you. You are bound to receive countless calls from Amcol systems before they move on to emails and threatening letters. They then send negative reports to the credit bureaus in order to influence your credit score negatively.
In addition, Amcol will charge you high-interest rates and charge you collection fees also for this work.
This will definitely cause your total debt balance to inflate, and as a result, you will end up owing more than you thought initially.
A customer once reported that their debt ballooned from around $3,000 to almost $5,000 once Amcol got in touch with them.
Nevertheless, this is what the collection process is all about. The debt collector’s main hope is to ensure that they threaten you enough to cause you to pay, but this is just a scare tactic, you need to go slow about it.
When they cannot collect on a debt, they will either sell it to another debt collection agency, or they will ensure a negative report has been entered on your credit.
They can also sue you, and if they win, they will proceed to put a lien on your properties and garnish your wages. They could even seize your assets.
How many complaints have been made against Amcol Systems, Inc.?
The BBB – Better Business Bureau, has reported at least five complaints against Amcol Systems, Inc. The closed cases allege problems with billing and collections.
They have an A+ rating on the BBB website.
Would it help if you just paid off the debt?
You would think so, right? When you have a debt, and someone is hounding you to pay it, the most logical thing that will probably go into your head would be to just pay it up and get it over with, but it doesn’t work like that.
What will happen once you pay the debt, is that your credit report that had an entry of collections will now change and reflect that the debt is paid, but your score will not change.
This is still a negative entry and will still cause damage to your score.
The key to getting your credit score improved would be to completely ensure that this negative report has been deleted from your report.
Consumer Tips for dealing with Amcol Systems, Inc.
This is certainly where you start when dealing with debt collectors. Any professional will tell you that you must never pay a debt that hasn’t been confirmed.
The process of debt confirmation is known as – Debt Validation.
This is a legal right. The FDCPA – Fair Debt Collection Practices Act has ensured that you are more than protected. You should never pay for a debt that has not been confirmed to be yours.
In actual sense, Amcol systems are supposed to prove to you the legitimacy of the debt they are claiming that you owe. Otherwise, you shouldn’t pay for something that cannot be proved.
It is essential that you send them a debt verification letter in writing, so you can keep this as evidence that you asked for it.
They, in turn, have 30 days to reply to your request by ensuring that they send you a validation letter. This is a letter that proves, without a shadow of a doubt that you, in fact, owe the debt.
This validation should include information such as; the date when the debt was taken, your real name, your social security, your address, the date when the debt was overdue, and the last time you paid for the debt, and amount of money.
If you have receipts to disprove this, you can do so, by providing all of the accompanying receipts that prove you either never took the loan or that you paid it.
If by any chance Amcol fails to validate your debt, then, as per the rules of the FDCPA, you are not supposed to pay it, and they must remove it completely from your credit report.
Age of the debt.
Further to your rights, there is a law that determines how long you should be liable to pay a debt.
So, once the debt has been validated, it is important for you to have a look at all the documentation you still have concerning the debt, then very clearly check the last time you interacted with said debt, as this will give you your limitation period.
According to the law, the statute of limitations for all debts is seven years, but this varies from state to state, although in most cases this is the limit.
If this window has run out, then you are not supposed to pay the debt and you can dispute it successfully.
This is the duration of time, within which debt should also be removed from your credit report.
Paying the debt:
Once Amcol successfully validates a debt, and its time hasn’t expired, then you need to find a way to start the negotiation process for paying the debt. This can be done in two parts;
The first is to negotiate for paying less than the total debt, which can be done with the right lawyer, and sometimes people have negotiated their ways into paying even 15% less than was originally thought of.
The second part is to ensure that once you pay the debt, Amcol systems must promise to remove the entry from your credit report. This will go a long way in ensuring that your credit score improves and you are able to take out more credit if you want to.
How do you remove Amcol Systems from your credit report?
So, by now you know that just paying off the debt doesn’t do much in helping with your credit score. The fact that a debt that was in collections still reflects on your credit report is bad enough. What you need to do is learn how to completely remove the entry from your report.
This is the process we call “dispute resolution.” It will involve engaging a company that specializes in this, or a lawyer who will help you ensure that once you pay up the debt, Amcol Systems will remove the debt from your report.
Pay-for-delete is a new approach that consumers are trying to employ to ensure that debt collectors remove debts from their credit reports. It is, however, a technique that doesn’t necessarily work and you must always be careful so you don’t end up losing more of your money.
It is a myth, that hasn’t worked well so far. What they claim in pay to delete, is to tell the debt collector to first remove the item from your credit report and then you pay the debt.
Of course, it sounds like the perfect solution to a terrible problem, but, do not expect it to work. This is because the debt collectors rarely ever agree to make such deals.
The best way to ensure that an item is removed from your credit report is to dispute it. This is legal and legit.
Have you been harassed by Amcol systems?
When debt collectors start harassing you, they can do one or all of the following;
Call you several times in one day.
Call you at night or even very early in the morning.
Call your co-workers, friends, or even neighbors telling them that you owe them.
Threaten you with negative credit reports.
Attempt to collect from you more than you owe.
Making criminal accusations against you.
Calling you and disguising the fact that they are debt collectors.
Pretending that they are police officers or federal agents.
Threatening you with untrue information.
Demanding that you pay their inflated service charges.
What are your rights?
This is the most important part. You MUST know your rights. Legislation that was passed by the Congress is known as the Fair Debt Collections Practices Act -FDCPA was put in place to ensure that you are covered.
Here are some of the rules passed;
Debt collectors are prohibited from using unfair and threatening tactics when collecting a debt.
They should never contact any other person other than you.
They shouldn’t use any profanities or obscene language.
They must never contact you at work, or let your employer know that you owe money.
They must talk to you only after 8 am and before 9 pm.
They should never collect more than you owe.
They should not threaten to arrest you.
They should never miss-represent themselves.
It must be terrible to default on a medical bill as everyone is entitled to affordable medical care, and this was not a misuse of money, but an actual need. This is one of the reasons why the FDCPA act was invented. To help and protect legitimate and real cases against exploitation and violation.
The credit collectors are also aware of the consequences that would lead to a default in medical expenses, and as such, they are more than willing to accommodate you when you come up with a repayment plan.