What does CBS COLLECT mean on my credit report?

Is CBS COLLECT making an impact on your credit score?

Updated January 1, 2023
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What is CBS COLLECT?

CBS COLLECT is shorthand for Credit Bureau Systems INC, with the company name being Credit Bureau Systems INC Inc

  • 100% guaranteed customer satisfaction from your own dedicated client representative right up to the CEO; get accessibility you require with Accountabilityyou Trust* All measures taken to retrieve your debts will be fully complient and internally reviewed for quality assurance.* Access reports on any one of your accounts via our secure client portal, and check statistics in real-time* Trained and tested HIPAA personnel, FICO and CRAs certified

CBS 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 Credit Bureau Systems INC.
  • ⚫ Credit Bureau Systems 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 Credit Bureau Systems INC:

Address:

  • 100 Fulton Ct, Paducah, KY 42001

Website:

Email:

Phone:

Payments

You can make a payment online, over the phone, or using a mobile app. You can also use a prepaid debit card, wire transfer, or check/money order (though some of these may have additional fees). If you make a late or missed payment, there may be penalties. If you set up automatic payments, you may be eligible for a discount.

Question Answer
Do they offer a monthly payment plan? No
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

Loan forgiveness and consolidation are both options offered by the website. There are certain requirements that must be met in order to qualify for loan forgiveness.

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

How to Apply

You can apply for a loan online, over the phone, or in person. You may also be able to apply for a loan using a mobile app. You may be able to apply for a loan with a cosigner.

Question Answer
Can I apply for a loan online? Yes
Can I apply for a loan over a phone call? Yes
Can I apply for a loan in person? Yes
Can I apply for a loan using a mobile app? Yes
Can I apply for a loan with a cosigner? Yes

SmartCredit Report Example

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

CBS COLLECT 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 CBS 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.