Is your phone ringing off the hook from a company called Rausch Sturm? They are a collection company who likely bought an old debt you didn’t pay, and they are trying to collect on it. Rausch Storm buys debts from a variety of creditors including credit card companies, banks, utility companies, credit unions, and student loan servicers.
If you checked your credit report and found Rausch Storm on there, it’s time to learn how to remove Rausch Storm from your credit report. If you don’t, it will bring your credit score down and make it hard to get lending for the next 7 years.
If Rausch Storm is on your credit report, here’s how to remove them.
Ask for Debt Validation
The easiest way to get Rausch Storm off your credit report is to request debt validation. This just asks them to prove they have the right to collect on your debt and that the debt belongs to you.
Rausch Storm has 30 days to respond to your request. If they don’t respond, the credit bureaus must remove it from your credit report. If they do respond, you have other ways to get the tradeline removed from your credit report.
Write your debt validation letter and send it to:
250 N. Sunnyslope Rd.
Brookfield, WI 53005
While you can call them, all correspondence should be in writing so you have proof of what they agree to if they don’t follow through.
Your debt validation letter should ask for specific details about the debt to make sure it’s legit, belongs to you, and that they don’t have any information incorrect.
Dispute the Debt
If Rausch Storm validates the debt, check your credit report. Look closely at the tradeline they reported. Do you notice any errors or unfair information reported?
The Fair Credit Reporting Act protects consumers against any unfair or incorrect information. If you find anything that isn’t right, write a dispute letter to the credit bureau reporting it and Rausch Storm explaining why you’re disputing the debt.
The credit bureau has 30 days to respond to the request. If they can’t prove you’re wrong, they must remove the Rausch Storm tradeline from your credit report. This doesn’t get you off the hook for paying the debt, but at least it’s off your credit report.
Paying the Debt
If your Rausch Storm debt is legit, you’ll have to pay it. But, here’s the good news. You don’t have to pay it in full. Rausch Storm bought the debt for pennies on the dollar. They hope you’ll pay the full amount, but if you negotiate it right, you won’t.
Your negotiations should include a payment amount (the amount you can afford to pay in one lump sum) and a request to delete it the tradeline from your credit report.
While the payment amount is important, the deletion is even more important. Here’s why.
If Rausch Storm sits on your credit report for 7 years, it affects your credit score for at least a few years. It also shows future creditors you defaulted on a debt so badly that it went to collections. This may make future creditors wary of lending you money. If they do lend you money, they may do so at a much higher rate or fee than they would if you didn’t have this issue.
Get Everything in Writing
The key in your communications with Rausch Storm is to get everything in writing. If they don’t follow through, you’ll need proof in writing to dispute the issue with the credit bureau.
We also recommend not sharing your checking account information with Rausch Storm. Even though they are a legitimate collection company, it’s never a good idea to share your checking account information.
Instead, pay them via check. If you’re paying in one lump sum, you’ll write one check. If you need a payment arrangement, they may insist they must do automatic withdrawal, but just keep negotiating until you get what you need. If you don’t have success, hire a credit repair agency to help you. The professionals know how to negotiate with companies like Rausch Storm.
It’s important to remove Rausch Storm from your credit report as quickly as possible. Initially, the tradeline hurts your credit score significantly. While the effects wear off, leaving it there will hurt your credit score and your chances of securing future credit quite a bit.
Take the steps above to remove Rausch Storm from your credit report and work out a deal to get them off your back for good.