If you see Covington Credit on your credit report, chances are you defaulted on a bill and the collection agency has it now.
Defaulting on a bill is bad enough, but when it’s on your credit report that it’s with a collection agency, it can do some serious damage to your credit score.
Fortunately, there are ways to remove Covington Credit from your credit report. Here’s what you must know.
Your Rights as a Consumer
As a consumer, you have rights even though you defaulted on a bill and it’s with a collection agency. Here’s what you should know.
Covington Credit can’t Harrass You
First and foremost, no one from Covington Credit can harass you. They can call you during ‘reasonable hours’ which are after 8 AM and before 9 PM. If they call before or after those hours or their calls are harassing by any means, you should report them to the Federal Trade Commission, Consumer Financial Protection Bureau, or your state attorney general.
You can Validate the Debt
You have the right to ask for debt validation, but you can only do this for the first 30 days after they contact you.
To validate the debt, put your request in writing. Ask them to answer questions about the debt, the amount you owe, the account number, who the original creditor was, and any other questions you have.
If they cannot answer your questions (validate the debt), they must remove it from your credit report. You may still owe the debt, but it at least it’s off your credit report.
You can Work out an Arrangement
Collection agencies seem tough, but you can negotiate with them to get a better deal to satisfy your debt.
If you can pay a large sum, just not the full amount, ask for a settlement. In your agreement, also ask them for a pay for delete. This means if you pay the amount they agree on, they agree to remove the debt from your credit report.
You may also work out a payment arrangement if you can’t pay a lump sum. Tell them what you can afford and see what they say.
You can Hire a Credit Repair Agency
If you can’t get anywhere with Covington Credit, you can hire a credit repair agency to help. While they do the same things you can do (dispute, validate, and negotiate), they have more experience with collection agencies and know what they will and will not allow.
What you Shouldn’t Do
As much as you should know how to remove Covington Credit from your credit report, there are things you shouldn’t do too.
Don’t Ignore the Debt
You can ignore the phone calls and even block them. You can also request that they only respond to you in writing, but don’t ignore the debt altogether.
In your time away from the phone calls, create a plan to take care of the debt if you owe it. Work out a plan so when you do talk to them, you have the information you need and can ‘stick to your guns.’
Don’t Share your Checking Account Information
When you pay Covington Credit after coming to an agreement, don’t give them access to your checking account.
Tell them you’ll pay via check or even a cashier’s check. They may push you to give your checking account number saying ‘it’s the only way they can accept payment.’ It’s not, call their bluff and do what you know is right.
Don’t Talk on the Phone
Talk is cheap, especially when you’re dealing with collection agencies. They could promise you the world but when it comes down to it, they never have to follow through.
Instead, get everything in writing. If you happen to have a verbal conversation, tell them to follow up with a letter stating everything they agreed to and don’t make any payments until you have that proof in writing.
Final Thoughts
Knowing how to remove Covington Credit from your credit report is important. A collection can sit on your account for 7 years. It won’t affect your credit score the entire time, but the presence of a collection account makes most lenders weary of giving you new credit.
Take the steps above and remember your rights. If at any point you feel harassed or think Covington Credit is lying to you, report them to the appropriate authorities and protect your personal financial information.