Summary: In-depth guide to help you get Pioneer Credit Recovery collections deleted from your credit report.
Pioneer Credit Recovery, Inc. buys old debts from companies such as credit card companies, student loans, and even the IRS. When consumers don’t pay their debts for 120+ days, companies like Pioneer Credit Recovery purchase the debts from the creditor.
- Who is Pioneer Credit Recovery?
- How to Remove Pioneer Credit Recovery From Your Credit Report
- Dealing with Pioneer Credit Recovery
- How to Get Pioneer Credit Recovery to Stop Calling
- Should You Pay Pioneer Credit Recovery?
- Will Pioneer Credit Recovery Inc Collections Hurt Your Credit Score?
- Pioneer Credit Recovery Contact Information
Most collection agencies like Pioneer buy the debt for much less than it’s worth. This gives you some negotiation room, but it doesn’t let you off the hook. If you owe the debt, you must pay it, but you may not have to pay the full amount.
The bigger issue is how to remove Pioneer Credit Recovery from your credit report. Leaving it there, even after paying it can damage your credit score for the long term.
Most collections stay on your credit report for 7 years, so it’s important to know how to remove Pioneer Credit Recovery from your credit report.
Let’s get into what the most effective way to remove Pioneer Credit Recovery from your credit report.
Who is Pioneer Credit Recovery?
Pioneer Credit Recovery, who is also known by Pioneer Lending, is a legit debt collection agency located in New York. They have several offices throughout the country and they specialize in debt collection in the following categories:
- collect student loan debt
- Credit cards
- Tax debt for the Internal Revenue Service
While Pioneer Credit Recovery is not a scam, debt collectors are no doubt very difficult to deal with. Like most debt collection agencies, Pioneer Credit Recovery has hundreds of complaints with the Consumer Financial Protection Bureau, as well as the Better Business Bureau.
I’ll go into detail about how to deal with a debt collector later on this in article, but first I want to go over the methods for removing Pioneer Credit Recovery from your credit report.
How to Remove Pioneer Credit Recovery From Your Credit Report
There are basically two ways you can go about removing a collection, charge-off, or late payment from your credit report. You can go the do-it-yourself route and deal directly with debt collectors, or you can hire a professional.
Which way you choose will ultimately depend on how much time and effort you want to put into the whole process.
If you’re the type of person who doesn’t mind negotiating with a debt collector, you might want to consider the do-it-yourself route.
However, if you’re the type of person who just wants to be done with it quickly, hiring a processional credit repair agency might be a better choice.
Nonetheless, I’m going to go into both ways so you can make an informed decision.
Start with Debt Validation
The first thing anyone should do who finds Pioneer Credit Recovery on their credit report or who receives a phone call from them is to validate the debt.
You have only 30 days from the date they first contact you to initiate the debt validation process.. As soon as they call you or send you a letter, write back, asking them to validate the debt.
Ask as many specific questions as you can about the debt. If they can’t answer your questions (validate your debt), then they must remove it from your credit report.
Ask for debt validation in writing. Pioneer has 30 days to respond to the request. If they don’t, by law they must remove the credit line from your credit report.
This can be a very affective method for removing Pioneer Credit Recovery from your credit report, especially if it’s an older debt, because often times a collection agency simply don’t have the proof that the debt is actually yours.
Dispute the Debt
However, if Pioneer Credit Recovery validates the debt, you can still dispute it. A dispute means you don’t agree with what they reported on your credit report.
Any inaccurate information on your credit report should be disputing with the three credit bureaus, Transunion, Equifax, and Experian.
The most effective way for a successful dispute is to look extremely closely at the negative entry and attempt to find anything that’s inaccurate. Here are a few details you can confirm are accurate:
- Original creditor
- Dates reported
- Any misspellings
Write a letter to the credit bureau reporting the debt to dispute it. In your letter include the reasons you’re disputing the debt and include proof. The credit bureaus have 30 days to respond to the dispute.
There are basically 3 different outcomes.
- The negative entry is verified as correct and isn’t removed.
- The negative entry is found to be in error and corrected.
- The negative entry is found to be in error and completely removed.
Of course, the best possible result is #3.
Arrange a Pay for Delete Agreement
If you do the above steps and find that you owe the debt and that it’s legitimately reported on your credit report, you have one more option – a pay for delete agreement.
Yes, this means you must pay the debt. Even in the above steps, you still owe the debt, it just erases it from your credit report. But, it means two things:
- You may not have to pay the full balance. Pioneer buys the debt from your creditor for less than the full amount. You have room to negotiate how much you pay back.
- You can ask Pioneer to delete the debt from your credit report in exchange for payment. If you ask this over the phone and they agree, request a letter in writing. Don’t pay them until you have it in writing.
A pay for delete agreement settles the debt in full or in the amount they agree to and erases it from your credit report. That’s the important part. Even if you pay the debt in full but don’t have a pay for delete agreement, it will sit on your credit report for 7 years.
A collection on your credit report makes future lenders unsure about lending to you. Most will turn down your application and those who approve it will charge you higher fees and interest rates.
Have a Professional Remove the Collection
Lastly, if you’re the type of person who would rather have a professional handle it and just be done with the whole thing, I suggest you check out Lexington Law Credit Repair.
They’ll take care of you, and honestly they usually get negative items removed quicker than if you try to do it yourself. Give them a call at 1-844-331-6062 or Check out our review of their service.
Dealing with Pioneer Credit Recovery
Dealing with a debt collector or collection agency can be difficult. They are often aggressive and will stop at nothing to collect on a debt.
Your best course of action is to avoid dealing with Pioneer Credit Recovery phone calls. This way you have everything in writing and don’t have to worry about them going back on their word.
How to Get Pioneer Credit Recovery to Stop Calling
The best way to get Pioneer Credit Recovery to stop calling you is to inform them that you will no longer communicate over the phone. Then request that all future correspondence be done via e-mail or snail mail.
From here, you can simply block their number on your phone. You don’t need to worry about a collection agency calling your place of work because that’s illegal.
Should You Pay Pioneer Credit Recovery?
You should avoid paying Pioneer Credit Recovery any money until you have negotiated the terms of your payment. Despite what Pioneer Credit Recovery Inc might tell you, your credit score will no increase when the collection is paid. Paid and unpaid collections affect your credit score negatively.
Rather, you should offer to pay them in full or partially and in exchange they agree to remove the collection from your credit report.
Will Pioneer Credit Recovery Inc Collections Hurt Your Credit Score?
A single collection can lower your credit score by up to 100 points. The impact a collection has on your credit score depends on what your credit score was prior to getting the collection.
In other words, the better your credit score was before the collection, the more of an impact it’s going to have. If you already had bad credit, the impact of another collection won’t be as significant.
Nonetheless, you should always remove collections from your credit report.
Pioneer Credit Recovery Contact Information
If you have decided to go the do-it-yourself route, you will need Pioneer Credit Recovery Inc contact information in order to write your negotiation letters.
26 Edward St, Arcade, NY 14009