What does CAP COLLECT mean on my credit report?

Is CAP COLLECT making an impact on your credit score?

Updated January 1, 2023
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What is CAP COLLECT?

CAP COLLECT is shorthand for Capital Asset Protection, with the company name being Capital Asset Protection Inc

Owner Arden B. Silverman has more than 35 years of experience in the collecting industry. Matters are taken care of from beginning to end, at any stage or after judgment by pursuing collections. We work on a contingent fees basis; inquiries are welcome via telephone conversation or personally visited

CAP COLLECT 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 Capital Asset Protection.
  • ⚫ Capital Asset Protection 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.

How do I contact them?

Here is the current contact details for Capital Asset Protection:

Address:

  • 23679 Calabasas Rd., # 677, Calabasas, CA 91302

Website:

Email:

Phone:

Payments

Firm offers prompt and professional services to help make a payment, recover money, or get a refund in an efficient and cost effective manner. Services include making payments over the phone, online, or through a mobile app. Wire transfers are also accepted as a payment method. There may be penalties for late or missed payments.

Question Answer
Do they offer a monthly payment plan? No
Can I make payments over the phone? Yes
Can I make payments online? Yes
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

They do not offer loan forgiveness or consolidation. You may qualify for loan forgiveness if you work full-time for a government or not-for-profit organization, or if you are a teacher in a low-income school.

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

How to Apply

It is possible to apply for a loan online, in person, or with a cosigner. The services of CAPcollect4U can assist with applying for a loan in person. It is not possible to apply for a loan over the phone or using a mobile app.

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? Yes
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 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 CAP COLLECT 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.