Located in North Canton, Ohio, Advanced Capital Solutions operates as a debt collection agency. The company purchases overdue consumer debt from creditors and then pursues those consumers to collect on the debt. The company has been sued several times in Federal Court for violating consumers’ rights while collecting on alleged debts.
Debt collectors are often unethical and illegal in their conduct, especially if they purchase old debt that is outside of the statute of limitations. In some cases, a debt collector will even attempt to trick you into paying a small amount on an old debt in order to restart the clock on the statute of limitations and allow them to legally sue you for the full balance of the debt.
When a debt is in collection, it’s reported to the three major credit bureaus and can have a negative impact on your credit score. A debt in collections can remain on your report for 7 years from the date of the first delinquency. In some situations, a debt in collection may be referred to as “charged-off” by the original creditor.
A debt in collections can have a negative impact on your credit and can prevent you from obtaining new lines of credit. Fortunately, there are ways to remove debts in collection from your credit report. One option is to contact a credit repair expert that can assist you with disputing Advanced Capital Solutions accounts. Credit Saint has helped countless clients successfully remove inaccurate information from their credit reports, including debts in collection.
Can Advanced Capital Solutions sue me?
The Fair Debt Collection Practices Act states that a debt collection agency is not allowed to sue you if the debt is past the statute of limitations, or if it’s not yours. Additionally, a debt collection agency is not permitted to threaten to sue you or serve you with court papers if they don’t intend to do so. They must also validate the debt within 5 days, or verify the debt over the phone the first time they call you.
They also are not permitted to harass you by calling your work, your friends or family members, or your employer, and they cannot use obscene or profane language when speaking with you. Finally, they must not reveal any information about your debt to anyone other than you, your attorney, your spouse, parents (if you’re a minor), or your co-signor.
In addition, a debt collector may not discuss your debt with any other people without your permission, and they must notify you that they are trying to collect on a debt. They must also not make false statements, like claiming to be an attorney or representative of the government, or misrepresent themselves.
A debt collection agency must abide by the rules listed in the Fair Debt Collection Practices Act and other federal laws to protect you from their unethical behavior. If a debt collector violates any of these rules, you can file a complaint with the Federal Trade Commission. In some instances, you can also file a lawsuit against the debt collector for statutory damages of up to $1,000 along with attorney fees and court costs. advanced capital solutions reviews