If you’re hearing from a company called Alltran, you likely defaulted on a debt. Companies sell their debts to Alltran to collect for them. Companies sell their debts to collection agencies like Alltran when they can’t collect on their debt – usually 90 to 180 days after it’s due.
If Alltran is on your credit report, it’s important that you learn how to remove it from your credit report fast.
Why you Should Remove Alltran from your Credit Report
If you have Alltran on your credit report, you must move fast to remove it. Collections stay on your credit report for up to 7 years. While it doesn’t hurt your credit score for the entire time, it will make lenders unlikely to lend to you or if they do, they will likely charge you a much higher interest rate or fees.
A collection on your credit report makes lenders think you don’t pay your debts. Even if this collection was an accident or outside of your control, it will affect your credit for many years which isn’t what you want.
So how do you remove Alltran from your credit report?
Validate the Debt within 30 Days
Your first step is to validate the debt. This eliminates the debt from your credit report by law. To validate the debt, you have 30 days write to Alltran to ask them to validate the debt. Validating just means that you’re asking them to prove that you owe the debt and they have the right information.
To validate the debt, ask Alltran some or all of the following information:
- Who is the original creditor?
- How much do you owe?
- When was the last payment?
- What’s the name on the account?
- What’s the account number?
- Do you have the right to collect in our state?
Dispute the Debt
If you miss your chance to validate the debt, you can dispute it with the credit bureau. It’s the same idea as validating, but you must go through the credit bureau rather than Alltran. To do this, you must find out which credit bureau reported the debt first. If you aren’t sure, pull your free credit reports here.
Just like when you validate the debt, you should send your dispute in writing. Include every detail you can that you’re disputing. It could be large details, such as the wrong balance or incorrect name, or something as small as a transposed account number or wrong date.
The credit bureau has 30 days to respond to your request. If they agree with you, they’ll remove Alltran from your credit report. If they can prove that the debt is valid, they’ll leave it and you’ll have to request a pay for delete arrangement.
Arrange a Pay for Delete
A pay for delete arrangement is where a lot of people end up if they can’t get Alltran removed from their credit report. Since everyone must pay up on their debts, the pay for debt makes sense. You make a payment arrangement with Alltran and in your arrangement, you ask them to delete the collection from your credit report after you pay it as agreed.
It’s very important that you get this in writing. If you don’t, you don’t have any leg to stand on if Alltran doesn’t remove it from your credit report. First, work on the amount you’ll pay. It can be a lump sum or payment arrangement. Next, ask them to delete the tradeline from your credit report.
Once you pay the debt (only send them a check don’t give your checking account information), check your credit report again after about 30 – 60 days. If they haven’t removed it from your credit report, you can file a dispute with the credit bureau.
Don’t leave Alltran on your credit report unresolved. Figure out a way to remove it whether you ask them to validate it and they can’t or you dispute it. If all else fails, work out a pay for delete arrangement so you get Alltran off your credit report and you pay it as agreed.
The longer Alltran sits on your credit report, the more damage it will do to your credit and future chances of securing a loan. Work now to get Alltran off your credit report and protect your financial future.