What does ACCT BROK LC mean on my credit report?
Learn about ACCT BROK LC, an debt broker offering loans for financial assistance. Check the impact to your credit report and financial status.
What is ACCT BROK LC?
ACCT BROK LC is shorthand for
Account Brokers Inc, with the company name being
Account Brokers, Inc.
In 2020, we will merge the Denver-office with the branch of Fort Collins into which it is located
ACCT BROK LC is a
Debt Broker provider. They could be on your report for a number of reasons, for example:
- ⚫ You missed a repayment.
- ⚫ You opened an account with Account Brokers Inc.
- ⚫ Account Brokers 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 Account Brokers Inc:
- 2001 S Shields St Building H Suite 103, Fort Collins, CO 80526, USA
To make a payment, you can use a collection agency which works on a contingency basis. It is best to submit the account for collection as soon as possible as accounts placed six months after delinquency have lower chances of being recovered. The statute of limitations for debt collection varies by state and starts from the account’s default date. Collection agencies may pursue court judgments to collect debt by garnishing wages or levying a bank account. Once an account is loaded, a report will be sent to the client for their records.
|Can I make payments over the phone?
|Can I make payments online?
|Do they offer a discount for automatic payments?
|Can I make a payment using a mobile app?
|Can I make a payment using a prepaid debit card?
|Can I make a payment using a wire transfer?
Forgiveness and Cancellation
the company does not offer loan forgiveness or consolidation services. Accounts should be submitted for collection as soon as possible for the highest probability of collection. The statute of limitations for debt collection varies by state, but is usually between three and six years. The company can pursue a court judgment to collect the debt involuntarily by garnishing wages or levying a bank account.
|Do they offer loan forgiveness?
|Do they offer loan consolidation?
How to Apply
you can apply for a loan online, in person, or using a mobile app. Our debt collection services are run on a contingency basis, meaning you do not have to pay upfront. Additionally, a collection agency is an expert at collecting money and has the option to pursue a court judgment if necessary. The statute of limitations for debt collection varies by state, usually between three and six years, and typically starts on the date of service or the date of the last voluntary payment. You can also apply for a loan with a cosigner.
|Can I apply for a loan online?
|Can I apply for a loan over a phone call?
|Can I apply for a loan in person?
|Can I apply for a loan using a mobile app?
|Can I apply for a loan with a cosigner?
SmartCredit Report Example
- This is an example of what this creditor will look like on your 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 Debt Broker?
Debt Brokers appear on your report when a company has failed to collect an outstanding debt. If a creditor has sent your debt to a broker, 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. A deby broker may also sell your debt onto another debt broker if they deem it too hard to collect your debt.
How do I remove ACCT BROK LC 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.