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Having financial freedom is almost equivocal to having a healthy credit score; thus, it is completely normal to always want the best for your financial health.
Unfortunately, some companies specialize in bringing debt upon others, resulting in a lower credit score, and lengthening your journey to becoming financially independent.
One of these Companies includes the infamous Credence Resource Management, or more commonly known as “CRM”.
What is Credence Resource Management (CRM)?
CRM is a debt collecting agency that focuses on collecting debt for their clients to make a profit. Headquartered in Dallas, Texas, CRM has been in business since 2013.
If you are receiving constant phone calls and suspicious letters from Credence Resource Management, LLC then it is most likely because of a bill you have left unpaid.
On your credit report CRM is listed as a “collections account.”
This negative entry automatically plummets your credit score, which can leave you feeling utterly confused and worried. To make matters worse, a collections account can remain on your credit report for up to 7-years, so it is important to act quickly.
Even though this sounds like a financial nightmare, do not lose hope just yet, because there are ways you can remove Credence Resource Management from your credit report.
They may appear on your credit report as:
- Credence Collections
- Credence Resource Management
- Credence Resource Management, LLC
- Credence Resource Management AT&T
- Credence RM
- Credence Resource Mana
Is Credence Resource Management, LLC a Legitimate Company?
Before we dive into removing Credence Collections from a credit report, it is important to address some myths that surround the legitimacy of this company.
A familiar question that arises when discussing CRM is if they are a legitimate company. Due to constant scams that go around, it is normal to question the legitimacy of any company that asks you for money.
Though CRM is not one of these scam companies, they are completely legit, which is why you must move quickly when trying to remove a negative entry from your credit report.
CRM or professionally known as Credence Resource Management, LLC was originally founded in 2013, along with its daughter company Receivable Solutions Specialist, Inc.
They are originally based in Dallas, Texas, but they do have a location in Atlanta, Georgia. Despite their small collection of employees, they are still able to amass over 5 million dollars a year.
All in all, this provides evidence that CRM is indeed a legit company; thus, the burden they leave on your credit report should not be taken lightly.
How to remove Credence Resource Management (CRM) from your credit report
If you adhere to this clear guide that we have provided for you, you will be able to take control of your finances in no time.
Remember, the faster you follow these steps, the quicker you will be able to get rid of CRM on your credit report.
It is important to not let them linger on your report for too long, otherwise, it might take years before you can get back your desired credit score.
1. Hire a Professional
The most attractive choice, by far, would be to hire a professional credit repair company who will handle CRM completely on your behalf.
CRM is notorious for its “robocall” method, which is an automatic dialing method they use to constantly harass customers into paying their debt.
This alone can make you feel quite anxious when dealing with CRM, which is why we recommend hiring a professional.
The best credit repair companies will take all necessary precautions and consistently keep you updated on your financial health, especially if the debt truly belongs to you.
This is also the best choice for those who are busy and cannot devote enough time to handle CRM adequately.
Another perk to hiring a credit repair company is because they also offer credit recovery programs.
If your credit score has taken a turn for the worst due to the negative entry listed on your report, they will try their best to assist you and provide you with solutions as to how to revive your credit score back to normal.
All Credit repair companies have a different range when it comes to prices; hence it is in your best interest to do your research before you decide to commit to a company. Make sure you choose what is best for you in the long run.
2. Ask for Debt Validation
If you decide to take on CRM by yourself, then this step is crucial. Requesting debt validation means you ask Credence Resource Management, LLC for proof that the debt is yours.
There have been too many incidents where debt collection agencies assign you faulty debt or debt that you have already paid.
This is either a ploy for them to make a bigger profit, or sometimes it really is a mistake. Regardless of the reason, it is your responsibility to make sure the debt is verified before you make any further action.
The first phase in requesting debt validation is to draft a letter asking CRM to provide you with proof of the bill that you owe.
In the meantime, you need to search for any records or documents that you have of this debt.
When CRM decides to respond, they must provide you with the amount that is due and the original lender.
Everything they send back needs to match up with the documents you already have.
Though keep in mind, this option is very time-sensitive, considering you only have 30 days within the initial contact, to request debt validation.
After that window is closed, CRM is no longer required to uphold your request and can continue spamming you to pay your debt.
3. Negotiate a Pay for Delete Agreement
Assuming the debt is yours, this is the next step in removing CRM from your credit report. Negotiating a pay for delete is exactly what it sounds like.
When you negotiate a pay for delete you are assuming all responsibility for the debt, therefore promising to pay it off at a negotiated price.
In exchange, CRM will delete their entry off your credit report.
Despite the bitterness of this option, there is a little good news. Debt collection agencies (including CRM) rarely ask you to pay your entire debt off. This is because they purchased your debt for pennies on the dollar.
Once the payment you propose is higher than what they bought your debt for, Credence Resource Management will be willing to negotiate with you.
You should propose a price that pays off at least 50% of your original debt. If you start lower, CRM will not respond.
Make sure to get everything in writing. When you and CRM officially agree upon a payment amount, draft up a contract that ferments the agreement between you and CRM.
If anything goes wrong, and you end up in court, you have this contract to hold CRM liable for any injustice.
4. Submit a Goodwill Deletion Letter
This last option is the most pejorative out of the three. Due to its inefficiency and low rate of success, this last step is not the most recommended.
Nonetheless, it is still a legitimate way to potentially remove Credence Resource Management from your credit report.
Asking for a Goodwill Deletion is similar concept to a Pay for Delete. However, the only difference is that you are not offering to pay CRM anything, despite the debt that is due.
You are essentially asking them to delete their collections account off your credit report out of pure kindness.
When doing this, you may want to include why you are unable to make payments, along with your current financial situation.
Still, this request is rarely granted, so please make sure you have an additional plan put in place.
Credence Resource Management Consumer Complaints
Like all debt collecting agencies, CRM has a plethora of complaints against them. To date, Credence Resource Management, LLC has over 950+ complaints filed with the Consumer Financial Protection Bureau (CFPB) and another 300+ filed with the Better Business Bureau (BBB). Most complaints that are filed are due to customer service issues, as well as wrongly assigned debt.
Credence Resource Management Contact Information
There are two ways to get into contact with CRM, but the most preferred way is to contact them through the mail.
- Mailing Address: 17000 Dallas Parkway #204, Dallas, TX 75248
- Phone Number: (855) 880-4791
Frequently Asked Questions
How does Credence Resource Management Work?
Credence Resource Management (CRM) traditionally purchases your debt from another company for pennies on the dollar.
They turn a profit by getting you to pay off the debt. This is why they are aggressive in their actions.
CRM collects debt for:
- Healthcare Providers
- Utility Companies
- Financial Institutions (Banks)
- Telecom Providers
Additionally, CRM acts as a debt collector for large billion-dollar corporations, such as AT&T and DirectTV.
Should I pay Credence Resource Management (CRM)?
No, you should not pay CRM right away, especially if the debt they have against you isn’t validated. Only pay CRM if the debt is verified. We recommend you hire a credit repair company to guide you through this process.
Dealing with Credence Resource Management (CRM): Know your rights!
When working with debt collecting agencies in general, it is extremely important to be aware of the rights that you possess as a consumer, under the Fair Debt Collections Practices Act (FDCPA).
If you are going through this journey alone, and choosing not to hire a credit repair company, then these rights are vital to keep in mind.
Debt collectors are not allowed to:
- Address you with profanity
- Call you if you have asked, in writing, for them to stop
- Call you before 8:00 am or after 9:00 pm
- Call family and friends and reveal their purpose
- Call you at work if your employer prohibits it
- Lie to you about their identity and what you owe
- Call you at a time that you have already stated was inconvenient
Is Credence Resource Management a Scam?
To put it bluntly, no, Credence Resource Management is not a scam. They are a real company based in Dallas, Texas.
It is normal for you to be wary of debt collecting agencies due to their tendency to manipulate you and take control of your finances.
Though with CRM you can rest assured that they are 100% legit.
Can Credence Resource Management Sue me?
Unfortunately, CRM is legally allowed to sue you. Still, under rare circumstances it is uncommon that they will.
This can be an expensive process on their side, so it is very unlikely that they would be willing to go through all that trouble; to them, it is simply not worth it.
Unless you owe thousands of dollars do not worry to much about legal action.
However, if you would like to be on the safe side, feel free to keep in contact with an attorney.
Bottom Line: How to Remove Credence Resource Management from Your Credit Report
The most important thing that you should gain from this article is to move quickly and remain aware of your rights. No one wants to have a low credit score for a long time because it can have some detrimental effects on your personal finances. Having a low credit score can limit your opportunities by denying you your dream home or car, and in some cases, even your dream job.