If you have a Verizon cell phone and you’ve defaulted on your payments, you may hear from Verizon Collections. Even worse, they may end up on your credit report, which can damage your credit score severely.
The key to dealing with Verizon Collections is to act fast. If they haven’t gotten to your credit report yet, do what you can to avoid that from happening (more on that below). If it’s on your credit report, we’ll show you how to remove Verizon Collections from your credit report.
Why Would Verizon be on your Credit Report?
Typically cellphone and utility companies don’t report to the credit bureaus, so you may wonder why Verizon Collections would show up. While it’s true Verizon doesn’t report to the credit bureaus, they do once you default on your debt. It’s their way of getting your attention and encouraging you to pay the bill.
If you discover they are on your credit report, you must act fast.
Find out if Verizon Collections is on your Credit Report
First, you must know if Verizon Collections reported to the credit bureaus yet. If they didn’t, if you act fast you can save your credit score.
Get on the phone with them right away and determine how much you owe. Make your payment as fast as you can to avoid Verizon Collections from reporting to the credit bureaus. Keep proof of your payment (canceled check or credit card statement) just in case they later report it to the credit bureaus.
If you aren’t sure if it’s on your credit report or not, get a free copy of your credit report to find out.
How to Remove Verizon Collections from your Credit Report
If you discover Verizon Collections did report to the credit bureaus, you have a few options to remove it from your credit report.
Ask for a Goodwill Deletion
If you have a decent payment history with Verizon, ask for a goodwill deletion. This requires you to admit why you didn’t pay your bill (accept responsibility). Don’t point fingers or blame – just state the facts and hope that your good payment history will help you.
Make your request in writing, but keep it brief. State the facts and let them know how you’ve fixed your personal situation so you can make your payments on time.
Pay it and Ask for a Pay for Delete Agreement
If you’re past the point of a goodwill deletion or you don’t think they’ll accept it based on your history, consider a pay for delete agreement.
If you agree to pay some or all of the bill that you missed, Verizon Collections may agree to delete it from your credit report. They won’t do this on their own – you must request it. We suggest asking in writing. If you’ll pay the full amount, state that, or if you need a negotiated settlement, work with Verizon Collections on the amount.
The key factor is that they agree to delete the account from your credit report after receiving payment. Get the agreement in writing. If they don’t hold up their end of the bargain, you can dispute it with the credit report, but only if you have written proof.
Validate the Debt if you Don’t Think it’s Accurate
Sometimes other companies contract with Verizon Collections to collect on their past due accounts. If you don’t have a Verizon account or don’t think the collection belongs to you, consider asking for validation.
You have only 30 days from the first date of contact to do this, though, so act fast. Request validation in writing, asking Verizon Collections to validate:
- Name on the account
- Original creditor
- Original balance
- Date the last payment was made
- Outstanding balance
- How they received the collection
Verizon Collections has 30 days to respond to your request. If they can’t or don’t validate it, they must remove it from your credit report, it’s the law.
If Verizon Collections is on your credit report, act quickly to remove it. You have several options but always start with debt validation, ensuring the debt belongs to you and that Verizon Collections reported it fairly.
If you owe it, figure out the best way to settle the debt while ensuring they agree to remove Verizon Collections from your credit report. Even a paid collection can damage your credit score for a couple of years and it remains on your credit report of 7 years, reducing your chances of securing future financing.