Collect America, Ltd is a debt collection agency located in Denver, Colorado.
This company helps creditors to regain their debts, and their areas of interest vary from health insurance dues, pending medical bills / dental bills, defaulted credit card payments, and defaulted commercial payments.
The help that they provide to the creditors comes at a fee. The creditors have to accept much lower amounts than the original debt owed to them by the debtors, and once they receive this amount from the debt collection agencies, they have to agree to a charge off.
The debt collection agency has now made a small investment in the deal by paying a partial amount of the debt.
Obviously they have to regain this investment with some added charges to make the deal more profitable. So the final blow is delivered to the debtor, and he/ she has to pay the outstanding debts plus all the extra charges.
It’s not the payment that gets difficult, but the short deadline that harasses the debtors. And any delay in paying up ensues in sending of negative collection accounts to the credit bureaus. Needless to say this reflects negatively in the credit reports and affects the credit scores poorly. Poor credit scores mean closing of all doors to future line of credit for the debtors.
It is not easy to deal with these debt collection agencies. They can use all sorts of underhand techniques to squeeze the money out of you. Add lots of verbal abuses, threatening letters, threats over the phone and calls to your friends and relatives and you will have created the usual scenario of debt collection.
You may need a professional credit repair company to get you out of the mess that the debt collection agencies land you in. Before you select any credit repair firm that comes your way, stop and take some time to know more about them. The Lexington Law Firm is a credit repair firm that is located in Salt Lake City, UT. This credit repair firm has many years of experience behind it and over half a million satisfied customers who back up the claims of excellence put forth by this company.