What does CBBCOLLECT mean on my credit report?

Is CBBCOLLECT making an impact on your credit score?

Updated January 1, 2023
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What is CBBCOLLECT?

CBBCOLLECT is shorthand for CB1 Collections, with the company name being CB1 Collections Inc

We think that everyone should pay his bills and that most people want to comply with their financial responsibilities. A community focused dedicated to our local economies and resources-we will not outsource any core or supporting activity

CBBCOLLECT 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 CB1 Collections.
  • ⚫ CB1 Collections 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 CB1 Collections:

Address:

  • 3318 3rd Ave N, Ste 100, PO Box 31213, Billings, MT 59101

Website:

Email:

Phone:

Payments

You can make a payment using VISA, MC, American Express, Health savings account, or by contacting the CB1 Collections offices. Payments cannot be made over the phone. Payment must be done in writing by certified mail, with certain information provided. You can make payments online. CB1 Collections offers payment options such as using a check or money order. Mobile app payments are not available. there may be penalties for late or missed payments. You can make a payment using a prepaid debit card. You can make a payment using a wire transfer.

Question Answer
Do they offer a monthly payment plan? No
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

Nelnet does not offer loan forgiveness or consolidation. There is no information on how to qualify for loan forgiveness.

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

How to Apply

you cannot apply for a loan online, over the phone, or in person. you can apply for a loan with a cosigner.

Question Answer
Can I apply for a loan online? No
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 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 CBBCOLLECT 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.