Are you receiving phone calls or letters from AMCOL Systems and wondering who they are and why they are bothering you?
You aren’t alone – they handle millions of unpaid healthcare bills, and most people aren’t even aware that they owe the debt. Healthcare is one of those confusing things that it’s easy to miss a bill or misunderstand what you owe.
Insurance, co-pays, deductibles, and out-of-pocket costs can make anyone’s head spin. But when your bill goes unpaid for too long, your healthcare company may sell the debt to AMCOL Systems.
It’s not the end of the world to have to pay the debt to a collection agency, but the harassing phone calls, letters, and the damage it does to your credit score can be bad.
Fortunately, there are ways to remove AMCOL Systems from your credit report, but we recommend you act fast!
Why Does it Matter if AMCOL Systems is on your Credit Report?
You may wonder what the big deal is – you’ll get to the bill eventually and you’ll even tell AMCOL that when they call.
Here’s the problem.
If they report the debt to any of the credit bureaus, it damages your credit score considerably and it’s not even a true ‘debt.’ It’s not a credit card, car loan, mortgage, or personal loan. It’s a healthcare bill that could be a result of an unexpected issue. Maybe you weren’t prepared or you’re fighting with your insurance company because you don’t think you owe the bill.
Either way, it hurts your credit score a lot and if you don’t remove AMCOL Systems from your credit report, it stays there for 7 years. That’s a long time!
So what’s next? Here’s what you should do.
How to Remove AMCOL Systems from your Credit Report
Validate the debt
If you catch the collection within 30 days of AMCOL calling or writing to you, ask them for validation. Do this in writing by sending them a letter with a list of requests. These requests are you asking for proof of the debt. Ask for the name, account number, balance, creditor name, payment history, and dates of service. If AMCOL can’t validate the information you ask for, they must remove the debt from your credit report.
Dispute the debt
If you missed your chance to validate the debt, you can use the same measure, but instead, write to the credit bureau reporting the debt. Pull all three credit reports to find out who is reporting it and write each a letter stating why you think the debt is invalid.
By law, the credit bureaus must remove any tradelines that are unfair or inaccurate, so dig hard to figure out what may be wrong with the debt.
Arrange a pay-for-delete agreement
If the above two steps don’t work, arrange a pay-for-delete agreement. This is an agreement with AMCOL to delete the debt from your credit report if you pay it. Since AMCOL didn’t pay the full amount to buy your debt, you may be able to work out an arrangement to pay less.
The key is to get proof of the pay-for-delete agreement in writing. If AMCOL doesn’t do as they promised, you can dispute the debt with the credit bureaus using the written letter. Don’t pay them until you have written proof as there’s no way to prove the agreement without it in writing.
Hire a Credit Repair Agency if you need Help
If you can’t handle dealing with AMCOL yourself, consider hiring a credit repair agency. There are plenty of reputable agencies today that can help you remove AMCOL Systems from your credit report.
A credit repair agency can only use the same tactics you use, but they have experience behind them. They deal with agencies like AMCOL daily and know what they look for and how to get them to agree to remove the debt from your credit report.
Don’t leave AMCOL Systems on your credit report – it will hurt your chances of securing new credit or even getting great rates on your loans or insurance for 7 years. A collection shows lenders you don’t make good on your debts.
A debt with AMCOL is a healthcare debt, which shouldn’t affect your credit score, but it will if you don’t have AMCOL Systems removed from your credit report. Take each of the steps above to remove the debt from your credit report and watch your credit score improve.