How To Remove FMA Alliance From Your Credit Report

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The FMA Alliance is a third party debtor that works with companies to confiscate customers’ criminal accounts.

They will be tirelessly contacting you for a refund and putting a strain on your credit score.

Before a collection agency can contact you for payment, they must first report the debt to major credit reporting agencies.

This means that a collection account is opened in your credit report under the name of the FMA Alliance.

This entry on your credit report will last for seven years and may affect your score by up to 100 points.

This can create problems for your future credit or interest rate prospects.

The best way to fix your credit is to remove the FMA Alliance from your credit report. Read on to learn more about the steps you need to take to achieve this.

What is the FMA Alliance?

The FMA Alliance is a medium-sized debt collection agency headquartered in Houston, TX.

They bring in around $ 15 million each year and employ around 200 people at headquarters.

The FMA Alliance was founded in 1983 and looks after customers from various industries.

The majority of their customers are in:

  • Financial services
  • Health care
  • Education industry

If you are overwhelmed with handling negative entries on your credit report,
We encourage you to seek help from a professional credit repair company.

Call Lex Law for help

Complaints from the FMA Alliance

The FMA Alliance, like many debt collection agencies, is largely unpopular with its customers. As a result, numerous complaints have been filed against them over the years.

The FMA Alliance has currently submitted 10 complaints to the Better Business Bureau (BBB) ​​and a whopping 95 complaints to the Consumer Financial Protection Bureau (CFPB).

Some of these complaints are due to customers not understanding who the FMA Alliance is or why they are contacting them.

Other complaints are the result of a more serious problem with the FMA Alliance’s collection tactics.

The Fair Collections Practices Act (FDCPA) is a law that sets guidelines to prevent debt collection agencies from demanding payments in greasy ways.

It protects your rights as a consumer and prevents the FMA Alliance from pushing you to pay.

However, it is known that the FMA Alliance exceeds its limits on the assumption that customers do not know their rights.

This can lead to aggressive phone calls and letters that we have all heard of.

I encourage you to find out about your legal rights as soon as you hear from the FMA Alliance. If you believe they have violated your rights, you can also file a complaint against them.

How to remove the FMA Alliance from your credit report

Removing a debt collection agency from your credit report is as easy as ABC.

Here are the steps you need to take to remove collection from your credit report and from your life.

Ask for confirmation of the debt

One of your rights under the FDCPA is your right to request a debt review. You should use this right as soon as you hear from the FMA Alliance.

If you stop making payments on your bills, your original creditor will get nervous as they think about how they will make up for the loss.

They will choose to either pursue them yourself or pass the debt on to a collector like the FMA Alliance.

If your creditor wants to outsource the debt, the account will be sent to the debt collection agency as soon as possible.

This hasty process can lead to errors, inaccuracies, and incorrect capture attempts.

You should apply for validation within 30 days of hearing the FMA Alliance. You need to make sure that they are not trying to collect the debt due to inaccurate information.

First, create a debt review letter and send it to the FMA Alliance. Ask the carrier for a return confirmation so you know when they will receive your letter in the mail.

The FMA Alliance should send you a number of documents allegedly proving that the debt is with you and that they are allowed to collect it.

Make sure you compare their information with your own to make sure there are no errors in the report.

If you find something that is mismatched or out of date, get in touch with the top three credit bureaus.

Tell them that you believe the FMA Alliance is reporting false information and that they should investigate.

If the credit reporting agencies determine that the FMA Alliance’s collection book is incorrect, the account will be removed from your credit report.

This means the collection efforts will cease and you will not have to repay the debt.

Start the negotiation process

The FMA Alliance will likely return with evidence that it is your fault. This means that you are responsible for the repayment.

Before you panic, know that if you agree to payment, you can always negotiate with them to have their collection account removed.

In fact, you may be able to pay less than the full balance of your debt.

This type of settlement, known as a pay-for-delete arrangement, is widely used by consumers to meet the payment needs of debt collection agencies and their own desire to have their credit cleaned up.

However, pay-for-deletes are sometimes difficult to negotiate. The FMA Alliance is reluctant to remove an official collection entry from your credit report.

This is a practice that is generally frowned upon, but not illegal. If you negotiate properly with them, you can find a settlement.

First, inform the FMA Alliance that you will pay 30% of the remaining balance if you remove your collection account. Work with them to find an amount that works for them.

When you find that magic number, ask them to send a written agreement on company letterhead. This will give you written evidence that an agreement is in place.

As soon as you have received this letter, you make your first payment to the FMA Alliance. You should contact the credit reporting agencies and remove your account within 30 days of your payment being processed.

Call a professional

Do you have problems getting anywhere with the FMA Alliance? Do not worry. There are professionals you can hire to do it for you.

Credit repair specialists act as intermediaries for debt collection agencies and consumers. They take care of communication, discussions, and settlements so you don’t have to.

Hiring a credit repair company is no different from hiring an accountant or a plumber. You need to do your research to ensure that you are getting someone experienced and professional.

We’ve compiled a list of the best credit repair companies so you can learn about the best of the business. This will help you choose the best company for your situation and budget.

Conclusion

Removing the FMA Alliance from your credit report might seem like an uphill battle, but you will be grateful that you did so in the end.

Collection accounts can destroy your credit. Removing the FMA Alliance account will save you time and money when looking to purchase loans.

If dealing with the FMA Alliance is too much to do on your own, you can always rely on a professional.

Credit repair companies are there to help. So don’t hesitate to get in touch if the process gets too long.

Improving your credit score requires diligence, patience, and knowledge of the system.

Check out some of our other popular articles to learn more about how you can take action to improve your bankroll today.

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