What does AMERICAN COLLECTIONS E mean on my credit report?

Is AMERICAN COLLECTIONS E making an impact on your credit score?

Updated January 1, 2023

What is AMERICAN COLLECTIONS E?

AMERICAN COLLECTIONS E is shorthand for American Collections Enterprise Inc, with the company name being American Collections Enterprise, Inc.

We Value Progression and belief that the Collection Process must always be evolved with the latest Technology and Collection Strategy.

AMERICAN COLLECTIONS E 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 American Collections Enterprise Inc.
  • ⚫ American Collections Enterprise Inc 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 American Collections Enterprise Inc:

Address:

  • 205 S Whiting St STE 500, Alexandria, VA 22304, United States

Website:

Email:

Phone:

Payments

To make a payment, you can contact AMCOLLECT.COM at 1-833-616-6668 or support@amcollect.com, or make a payment online through their website. You can also make payments using a check, money order, wire transfer, or prepaid debit card. American Collections Enterprise Inc. offers a risk-free debt collection service, meaning that if they don’t collect, you don’t pay. They have a higher recovery rate than their competitors and focus on ethics and integrity. There may be penalties for late or missed payments, depending on your contract with the collection agency.

Question Answer
Can I make payments over the phone? No
Can I make payments online? Yes
Do they offer a discount for automatic payments? No
Can I make a payment using a mobile app? No
Can I make a payment using a prepaid debit card? Yes
Can I make a payment using a wire transfer? Yes

Forgiveness and Cancellation

American Collections Enterprise Inc. is a NO COLLECTION, NO FEE debt collection agency that does not offer loan consolidation services. To qualify for loan forgiveness, consumers should contact their creditor directly to discuss payment plans and options. Collection agencies are adept at guiding consumers around impediments that prevented payment earlier. The cost of using a collection agency will depend on the creditor.

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

How to Apply

You cannot apply for a loan with American Collections Enterprise Inc. over the phone or in person. You can apply for a loan online, but not with a cosigner.

Question Answer
Can I apply for a loan online? Yes
Can I apply for a loan over a phone call? No
Can I apply for a loan in person? No
Can I apply for a loan using a mobile app? No
Can I apply for a loan with a cosigner? No

SmartCredit Report Example

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

AMERICAN COLLECTIONS E 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 AMERICAN COLLECTIONS E 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.