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Is CBE Group spamming phone? If so, then pay attention. Whenever a debt collection agency contacts you, it is never a good thing. In fact, it means yourcredit score is in jeopardy.
Fortunately, this article will no doubt be the solution to your financial problems.
Keep reading to find out what steps you need to take to successfully remove CBE Group from your credit report. Let’s dive in.
What is CBE group?
If you did not know, the CBE Group is a debt collection agency. A debt collection agency is a company that specializes in purchasing debt or collecting debt to and from their clients.
Therefore, if you are getting contacted by CBE group, then it is most likely because you have some type of debt ingrained in your account.
Besides the irritating phone calls and letters in the mail, it is also common for debt collection agencies to produce a “collections account” on your credit report, especially CBE group. Fortunately, you can remove a collection from your credit report.
If CBE group is listed on your credit report, this means they have been made aware of the debt that you have left unpaid; thus, their retaliation is a negative entry on your credit report, which results in a vile attack on your credit score.
CBE Group, Inc may also appear on your credit report as:
- CBE Collections
- CBE Group, Inc
- CBE Group Verizon
- CBE Group Incorporated
- The CBE Group inc-former
- The CBE Group inc former
Now, all of this sounds very disheartening, considering no one wants a low credit score, but don’t worry, this article will provide you with several solutions on how to get rid of CBE group from your credit report.
Is CBE legit?
A common question that arises when discussing CBE group is if they are a legitimate company. In short, the answer is yes, CBE is a legit company, so it is a very real threat to your credit score.
CBE group, known formally as CBE group Inc, was initially established in 1933 underneath its parent company, CBE Companies, Inc. Now today, it is one of the largest debts collecting agencies present in the United States.
CBE Group has aggregated over 30 million dollars in revenue, along with a trained team of 600 individuals.
Its primary locations include:
- Cedar Falls, Iowa (Corporate Headquarters)
- Waterloo, Iowa
- New Braunfels, Texas
All this proves that yes, CBE is authentic and can be dangerous to your finances if you don’t handle them appropriately.
What Debt Does CBE Group Collect?
CBE group collects for several areas of debt. Some examples include:
- Medical and Healthcare
- Student loans
- Delinquent tax bills
- Credit Card payments
- Utility bills
- Cable/satellite/phone bills
Unlike some companies, CBE group does not collect for a specific type of debt; instead, it has a large variety.
This increases the chances of you getting caught up in CBE’s collections, so pay close attention so you can keep contact at a minimum.
How to remove CBE group from your Credit Report (4 proven ways)
If you follow this clear-cut guide that we have provided for you, you should be able to remove CBE group from your credit report as soon as possible.
No one wants a low credit score forever, so please remember to move as fast as possible when handling CBE group and debt collecting agencies in general.
1. Seek Help from a professional
The best solution for a situation like this is to hire a professional credit repair company that will handle CBE group on your behalf.
CBE group is known for being an overly aggressive and contentious company. It has a record for taking advantage of debtors.
It is normal if you feel uneasy communicating with them. When you hire a credit repair company, they will do all the communicating for you while keeping you informed about your financial situation.
Thus, if you prefer to stay hands-off during this process, then hiring a credit repair company is your best bet.
Assuming that the debt CBE is trying to collect is yours. A credit repair company will assist you in making a payment plant and will help you nurse your credit score back to a healthy range.
The cost of the best credit repair companies varies, as well as their services, so please do as much research as possible before you decide to put your financial situation in their hands.
>> More: Credit Saint Review
2. Request Debt Validation
If you choose to handle CBE group by yourself, one of the first things you should do is to request debt validation. Companies like CBE group wrongly assign debt all the time.
Sometimes it is on purpose because they want to collect extra money, or sometimes it is truly an accident.
Regardless of the reasoning, you should always verify if a debt is yours before deciding to engage with any debt collecting company.
It would be extremely disappointing if you ended up paying a debt that belonged to someone else, or that you already paid off previously.
To request debt validation, you must draft debt validation letter asking CBE group to verify that the debt they are accusing you of is yours.
They should include the payment amount and the original lender; make sure everything that they send you matches up with the documents that you have.
However, this option is very time-dependent. According to the FDCPA, you only have a 30-day window after the first contact to request debt validation.
Once that window is closed, they no longer have to provide you with any information and can continue to keep harassing you for payment. Hence, it is important to move as quickly as possible.
3. Negotiate a pay for delete
If the debt is verified to be yours, then the next option is to negotiate a pay for delete.
When you negotiate a pay for delete, you are assuming responsibility for the debt; therefore, you have to come up with a payment price that you and CBE group agree on.
I know this sounds a bit disheartening, but do not worry, because there is good news available with this option. Debt collection agencies rarely ask you to pay the debt in full.
CBE adheres to this trend because it is common for them to purchase a percentage of the debt from their client. Once you pay over that percentage, then you have nothing to worry about.
It is recommended to offer to pay at least 50% of the full debt price. With this offer, CBE will be a lot more cooperative than if you offer to pay below that amount.
Though before fully deciding on a payment price, make sure you understand how paying off this debt will impact your financial situation.
You might have to draft a new budget to accommodate for extra money that you will not have every month.
After deciding on your payment amount, you can proceed to write your pay for delete letter.
This letter will explain to CBE Group, Inc your payment price and the dates that you will pay, be as transparent as possible and leave out extra details.
When both parties have agreed on a payment plan, make sure to draft up a contract, and have both parties’ sign. If something goes wrong, then this contract is additional proof.
4. Ask for Goodwill Deletion
This solution is undeniably the least favorable out of the four. However, it is still a way to remove CBE group off of your credit report.
A Goodwill deletion letter is a request asking CBE group to delete their collections account from your credit report.
Technically you are asking them to do you a favor without any form of payment in return. This request is rarely granted, which is why this is barely recommended. Though at the end of the day, it doesn’t hurt to ask.
CBE Group Consumer Complaints
Throughout the past 4 years, CBE has accumulated over 1,550 complaints from both the BBB and the Consumer Financial Protection Bureau (CFPB).
Most of these complaints contain similar problems with billing, collections, and even customer service.
If you don’t want to deal with these problems, the best option for you might just be to hire a professional to negotiate on your behalf.
Contact Information: CBE Group, Inc
Here are two ways that can get in contact with CBE group Inc, though the preferred option would be through the mail, rather than on the phone.
- Mailing Address: PO Box 126 Waterloo, IA 50704
- Phone Number: 1-800-925-6686
Frequently Asked Questions
How does CBE group work?
CBE Group is an agency that thrives off making money from clients by collecting money from debtors. These clients include a plethora of companies, organizations, and even the government.
CBE’s primary purpose is to successfully collect debt for their clients, regardless of which category their clients fall in.
If their client needs debt to be fulfilled, it then becomes CBE’s responsibility to badger you until that debt is paid; whether it’s in the form of phone calls, letters, or a negative entry on your credit report.
Does CBE group report to 3 credit bureaus?
Another common question that gets asked pertaining to CBE group is if the report to the credit bureaus.
To put it clearly, yes, they do report to credit bureaus. By reporting to credit bureaus, that is how they can get themselves listed on your credit report.
This is a common ploy that debt collecting agencies use to make you aware of how threatening this situation could be towards your credit score.
Still, don’t immediately panic, instead just calmly follow the steps that we have aligned for you.
Can you remove a CBE collections account from your Credit Report?
Yes, it is very possible to remove a CBE collections account from your credit report.
All you have to do is use one of the four ways (seek Help from a professional, debt validation, pay-for-delete, goodwill deletion) that we’ve highlighted for you, and you’ll be just fine!
Though, whichever way you decide on, make sure it is truly the best option for you.
Always keep your financial situation in mind when making important decisions like these.
Does CBE collect for IRS?
As mentioned before, CBE Group, Inc has a variety of clients, including government agencies. One of the agencies is indeed, the IRS (Internal Revenue Service).
If you didn’t know, the IRS is responsible for enforcing taxes that Congress enacts.
When people don’t pay these taxes, the IRS hires companies like CBE group to make sure their taxes get paid.
Though, CBE is only one in four companies that the IRS trusts to handle this responsibility.
Can CBE Group garnish wages?
A frequent worry when dealing with CBE, is that they will garnish your wages.
However, you can put that worry to rest today because it is very rare that CBE Group, Inc will do that, especially if they can’t validate that the debt belongs to you.
Will CBE Group sue me?
Although CBE Group is legally allowed to sue you, this too is very uncommon. This can be an expensive process, and unless you owe several thousand dollars, it is often not worth it for them.
Also, this process is time-dependent. After the “statutes of limitations”, around 3-6 years, CBE is not legally allowed to sue you. Though if you are still feeling uneasy, feel free to remain in contact with an attorney.
Bottom Line: How to remove CBE Group from your credit report
The main thing that you should take from this article is to be calm but move quickly. Having a low credit score for an extended period can impact your life immensely.
It can cause you to get denied a car, a house/apartment, and even some jobs consider your credit score. There are ways you can repair your credit though.
This is why it is vital to get CBE Group, Inc removed as soon as possible, that way you’ll be able to live your life to the fullest.
Remember, if you follow our step-by-step playbook, you will remove CBE Group from your credit report and improve your credit score.