What does ADV COL PRO mean on my credit report?

Learn about ADV COL PRO, an collections agency offering loans for financial assistance. Check the impact to your credit report and financial status.

Updated January 1, 2023
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What is ADV COL PRO?

ADV COL PRO is shorthand for Advantage Collection Professionals, with the company name being Advantage Collection Professionals

ADV COL PRO is a Collections Agency provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.
  • ⚫ You opened an account with Advantage Collection Professionals.
  • ⚫ Advantage Collection Professionals bought your debt and are now trying to collect on it.
  • ⚫ You opened a credit card / loan / mortgage with this company.
  • ⚫ Someone fraudulently opened a credit line under your name.

About the account

The account is classified under the following METRO2 categories:

  • ⚫ Collection Agency/Attorney

How do I contact them?

Here is the current contact details for Advantage Collection Professionals:

Address:

  • PO Box 353
    Cambridge, Minnesota 55008

Website:

Email:

Phone:

Payments

Advantage Collection Professionals offers a monthly payment plan and will not charge late or missed payment penalties. You can make a payment by mail, online through a secure third-party payment portal, or by speaking with a live agent. Revenues are derived from contingency fees charged upon the successful collection of accounts - if they do not recover the debt, then no fees are owed.

Question Answer
Do they offer a monthly payment plan? Yes
Can I make payments online? Yes

Forgiveness and Cancellation

loan forgiveness and consolidation is available through the website. There are income-driven repayment plans that will cap your monthly payments at a percentage of your income and forgive the remaining balance after 20 or 25 years.

Question Answer
Do they offer loan forgiveness? No
Do they offer loan consolidation? No

SmartCredit Report Example

  • This is an example of what this creditor will look like on your SmartCredit report.

ADV COL PRO SmartCredit Report

Will this affect my credit score?

Whether this account affects your credit score depends on a variety of factors, such as:

  • Account Open Date: If you opened this account recently it will impact your credit, the only way to prevent this from impacting your credit score is to remove the account from your report.
  • Derogatory Markings: If this account has any derogatory markings such as: Lates, Charge Offs, Collections and others.

However, there are could be some potential positive aspects to this account which could lead to improving your credit score, such as:

  • Account Age: If your account is quite old, then the age of it will positively impact your credit score
  • Repayment History: If the account has no Late Payments, Charge off Payments, then it may reflect a positive impact onto your credit score.

Can it be removed from my credit report?

Yes, with the right strategy, you will be able to remove any account from your report. But you have to be careful to ensure that the account is negative to begin with, or it will negatively impact your credit score.

However, removing a negative account will positively impact your credit score, allowing you to open new credit lines and potentially removing bad debt.

What is a Collections Agency?

Collection agencies appear on your report when a company has failed to collect an outstanding debt. If a creditor has sent your debt to collections, they expect to receive only a portion of any money collected. For them, this is preferable to receiving nothing at all continuing the process of trying to collect your debt themselves. However due to the agressive nature of some collection agencys, you may feel threatened or harrassed by them. However, the good news is that if they inaccurately reported your debt and you take the correct credit repair action, there is a good chance that you will not have to repay and inaccurately reported debt.

How do I remove ADV COL PRO from my credit report?

You can send a dispute letter to the credit bureaus to remove this account from your report. You must send a dispute letter to all three credit bureaus, as they are legally required to remove the account from your report if it is found to be inaccurate. For best results you should send a dispute letter to the credit bureaus via certified mail, this will ensure that you have a legal record of the communication.