What does AUTOMTD COLL mean on my credit report?
Learn about AUTOMTD COLL, an automotive trader offering loans for financial assistance. Check the impact to your credit report and financial status.
What is AUTOMTD COLL?
AUTOMTD COLL is shorthand for Automated Collection Services Inc, with the company name being Automated Collection Services, Inc.
Automatic collection agency (ACA) Inc., founded in 1988 as an accounts receivable management company, offers total collections administration services nationally to the higher education, health care, governmental, and financial industries.
AUTOMTD COLL is a Automotive Trader provider. They could be on your report for a number of reasons, for example:
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⚫ You missed a repayment.
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⚫ You opened an account with Automated Collection Services Inc.
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⚫ You opened a credit card / loan / mortgage with this company.
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⚫ Someone fraudulently opened a credit line under your name.
How do I contact them?
Here is the current contact details for Automated Collection Services Inc:
Address:
- 2802 Opryland Drive
Nashville, TN 37214
Website:
Email:
Phone:
Payments
Automated Collection Services, Inc. offers many options for making payments, including over the phone, online, through a mobile app, and via wire transfer. There are no penalties for late or missed payments.
| Question | Answer |
|---|---|
| Can I make payments over the phone? | Yes |
| Can I make payments online? | Yes |
| Do they offer a discount for automatic payments? | No |
| Can I make a payment using a mobile app? | Yes |
| Can I make a payment using a prepaid debit card? | Yes |
| Can I make a payment using a wire transfer? | Yes |
Forgiveness and Cancellation
Automated Collection Services, Inc. does not offer loan forgiveness or consolidation.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
To apply for a loan with Automated Collection Services, Inc., you can fill out the form on their website, or contact a sales rep at 1-888-565-8688 or ACSIClientServicesGroup@acsi.net. You will need a cosigner to apply for the loan.
| 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? | Yes |
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 Automotive Trader
A Automotive Trader is any company that buys or sells vehicles. They will report on your credit report if you bought a car on credit or took out a loan during the purchase of your car. The repayment date is normally around three years, and the interest rate is typically between 3-13%. If you fail to make payments they may hire a collections agency which will try to either:
- Collect the (alleged) missed payments
- Try to reposess the vehicle
Either option is not ideal for you life as it may cause undue distress, expecially if the debt has not been reported correctly or there has been a mistake in the reporting process. The best way to protect yourself from automotive debt collectors is to challenge then repair any potential errors on their reporting.
How do I remove AUTOMTD COLL 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.