A debt collection agency like Advanced Capital Solutions (ACS) is a company that purchases uncollected debt from creditors and then attempts to collect it on their behalf. They can also report the debt to credit bureaus which can impact your credit score. Debt collectors are regulated by laws designed to prevent them from going too far in their pursuit of payment and can be sued for violation of these laws.
Debt collection agencies are infamous for harassing consumers and for using unethical and even illegal tactics to obtain payments. Debt collectors are prohibited from threatening violence, corporal punishment, or arrest for debts that are not legally enforceable. Debt collectors are also prohibited from using obscene and profane language to harass or intimidate consumers. Debt collectors are also prohibited from calling a consumer’s place of employment if the employer expressly states that they will not tolerate personal or debt collection calls at work.
The best way to determine whether a company is legitimate is to look at the legal complaints against them. You can search for a collection agency on the public PACER website, which is the U.S. court’s database of federal complaints against companies. Performing a PACER search for Advanced Capital Solutions will reveal numerous lawsuits filed against the company over violations of consumer rights and debt collection practices.
You have several rights when it comes to dealing with a debt collection agency, including the right to dispute credit reporting errors and to be treated fairly and respectfully by debt collectors. ACS has been accused of violating consumer rights in numerous ways, and you have the right to request a debt validation letter from the agency within 30 days after receiving a collection call or written communication. This letter should state how much you owe, who you owe it to, and the debt collection agency’s name.
Debt collection agencies can legally report debts in collections to the three major credit reporting bureaus, Experian, TransUnion, and Equifax. These debts will be shown as “debt in collection” on your credit report and can have a significant impact on your credit score. However, you do have the right to dispute these debts with the credit bureaus, and doing so can help you get back on track to a better credit score.
Can ACS garnish my wages?
You should never trust a debt collector to be accurate when it comes to the amount that you owe. A debt collection agency can only sue you or garnish your wages after the debt has been verified by a court of law, and this verification must take place in accordance with the Fair Debt Collection Practices Act. This means that the debt must be owed by you, and that it is not already past due or otherwise barred from being collected.
It is important to remember that any time you agree to pay a debt to a third-party debt collection agency, it can reset the statute of limitations on the debt. This can have devastating consequences for you if you make this mistake, and it is important to only make payments on debts that you know are legitimate and that belong to you. advanced capital solutions reviews