What does REGIONAL RECOVERY SERV mean on my credit report?
Learn about REGIONAL RECOVERY SERV, an collections agency offering loans for financial assistance. Check the impact to your credit report and financial status.
What is REGIONAL RECOVERY SERV?
REGIONAL RECOVERY SERV is shorthand for Regional Recovery Services Inc, with the company name being Regional Recovery Services Inc Inc
We were founded in 2013 and provide our clients with current computerized records on thousands of credit holders in the region, in addition we use a full in house computer system which allows us to keep track of all payments made by your customers. This training is continually reinforced by diligent supervision of all operations. We believe that the nationwide resources personnel we maintain are incomparable advantages. These elements allow us to confidently manage the local and national accounts.
REGIONAL RECOVERY SERV 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 Regional Recovery Services Inc.
- ⚫ Regional Recovery Services 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.
How do I contact them?
Here is the current contact details for Regional Recovery Services Inc:
Address:
- PO Box 3333 Munster In 46321
Website:
Email:
Phone:
Payments
Payment can be made by responding to any of the steps in the Collection Process, outlined as Dunning Notices, telephone calls, Credit Reporting Agencies, and Annual Dunning Notices. Regional Recovery Services, Inc. offers payment over the phone as one of the multiple steps in their Collection Process. Regional Recovery Services, Inc. offers an online payment option as part of its multi-faceted Collection Process. Regional Recovery Services, Inc. does not offer a discount for automatic payments but they do offer a multi-faceted collection process which includes sending dunning notices, making phone calls, reporting to credit agencies and sending annual dunning notices.Regional Recovery Services Inc. only accepts payment via dunning notices, telephone calls, and reporting to major credit reporting agencies. Regional Recovery Services, Inc. offers a multi-faceted collection process which includes sending dunning notices and making telephone calls, as well as reporting the account to major credit reporting agencies. Payments may be made directly to the original creditor, but the agency will still be due a commission.there are penalties for late or missed payments, including the reporting of the account to major credit reporting agencies and the sending of dunning notices. Additionally, collection agencies are due their fee for their efforts regardless of what method is used to entice or coerce payment.Regional Recovery Services accepts payment via prepaid debit cards.Regional Recovery Services, Inc. offers payment via wire transfer as part of the Collection Process.
| 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
Regional Recovery Services does not offer loan forgiveness. They instead use a multi-faceted process involving multiple steps to get a person to pay, such as sending dunning notices and making telephone calls. loan forgiveness is not determined by the Collection Process.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
Regional Recovery Services, Inc. offers a multi-faceted collection process that includes sending a dunning notice, making phone calls, reporting the account to 3 major credit reporting agencies, and sending annual dunning notices in order to get a person to pay. They also offer a mobile app for loan application. Cosigners are allowed and the agency is due their fee for their efforts regardless of which method is used to entice or coerce payment.
| 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 REGIONAL RECOVERY SERV 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.