What does JOMAX RECOV mean on my credit report?

Learn about JOMAX RECOV, an collections agency offering loans for financial assistance. Check the impact to your credit report and financial status.

Updated January 1, 2023
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What is JOMAX RECOV?

JOMAX RECOV is shorthand for Jomax Recovery Services, with the company name being Jomax Recovery Services Inc

Recovery services is a commercial collection agency specialized in surety, fidelity and insurrance claims worldwide.Our Associates are familiar with the industry inside and outside, making them unique and effectively collect on these accounts.While our headquarter is located in Peoria, AZ, we manage collections across the country.

JOMAX RECOV 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 Jomax Recovery Services.
  • ⚫ Jomax Recovery Services 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 Jomax Recovery Services:

Address:

  • 9242 W Union Hills Dr #102, Peoria, AZ 85382, United States

Website:

Email:

Phone:

Payments

There are three ways to make a payment: by phone, mail, or online. Online payments can be made through the website using a debit card, credit card, or wire transfer. There is no monthly payment plan offered and no discounts for automatic payments, but there are also no 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
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

JOMAX does not offer loan forgiveness or consolidation services.

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

How to Apply

You can apply for a loan online with JOMAX. You can also apply for a loan with a cosigner. JOMAX provides services related to surety and fidelity loss and premium recovery, insurance premium and deductibles collections, insurance subrogation and collection litigation. Additionally, they provide post judgment enforcement services.

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 using a mobile app? 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 JOMAX RECOV 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.