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In this Article: How to remove Verizon Collections from your credit report and put an end to the annoying phone calls/letters.
Does Verizon Collections appear on your credit report? If so, then it is showing up as a “collections account,” which is never a good sign.
Collection accounts can remain on your credit report for up to 7-years, and severely damage your credit score unless you remove them quickly and adequately.
Keep reading to find out how to remove Verizon Collections from your credit report.
Why does Verizon appear on my Credit Report?
It’s not uncommon to miss or make a late payment at least once, so don’t be too hard on yourself if you have. However, you should be aware of the consequences that follow if you do either of the two.
Debt collectors are one of these consequences. Unfortunately, they can be quite on the aggravating side. With the constant phone calls and aggressive letters, debt collectors can leave you feeling miserable.
On top of that, it is also very convenient for debt collectors to pop up with negative entries on your credit report.
One of these debt collectors is known as Verizon collections. In this article, we will focus on the appropriate way to deal with not only debt collectors but precisely Verizon Collections.
What is a Verizon Collection?
Verizon collections is a debt collection agency that stems from its parent company, known as Verizon Wireless.
Verizon Wireless is known for being the largest wireless carrier in the United States, with an accumulation of roughly 116 million subscribers. It is not surprising that they have a debt collection agency, this helps with making sure all their customers pay their Verizon accounts on time.
Thus, if Verizon shows up as a “collections account” on your credit report, then that means you have a past-due debt on a Verizon account.
How to remove Verizon collections from your credit report?
It is entirely normal to want to take care of this negative entry as soon as possible, considering the damage it could do to the health of your credit score.
We’ve provided you with 4 easy ways on how to remove Verizon collections from your credit report.
1. Verify who “owns” the debt
The very first thing that you should do when dealing with debt collecting agencies is to make sure the debt belongs to you.
Collection agencies misreport information all the time, so it’s essential that you catch them on their mistake and don’t end up paying unnecessary money for something that wasn’t even your fault.
To prevent this from happening, you must request debt validation; this is proof that the debt they are trying to collect is yours, and that the amount is correct.
To do this, you need to write a debt validation letter addressed to Verizon collections. Additionally, you should also request a receipt after your letter is delivered. A receipt is an additional confirmation that Verizon has received your letter.
Still, this is a very time-sensitive option because you only have 30 days, after the initial communication, to deliver your validation letter.
After the 30 days are over, Verizon no longer has to fulfill your request and can continue badgering you to pay your debt.
2. Hire a credit repair company
Another popular solution to this problem is hiring a credit repair company to communicate on your behalf.
If you don’t have enough time or just feel like you can’t adequately handle this situation, then hiring a credit repair company is the way to go.
Credit repair companies have a plethora of experience when it comes to handling debt collecting agencies, so you will truly be in the best hands.
They will contact Verizon collections in your favor and try their best to remove the “collections account” off of your credit report.
Not only do credit repair companies remove the negative information from your credit report, but they also provide you with ways to re-bolster your credit score.
Still, make sure to research different credit repair companies so you can choose one that adheres to your needs the best.
In our opinion, Credit Saint is the best. They have removed thousands of negative items from credit reports and always place their customers first.
Learn More: Credit Saint Review.
3. Negotiate a Pay-for-Delete
Assuming the debt is yours, the next best option would be to negotiate a pay for delete. When you agree to negotiate a pay for delete, this means that you are acknowledging that the debt is yours, and you are willing to set up a plan to pay it off.
This may sound like an unattractive option since you are going to have to pay off the debt yourself. However, keep in mind that debt collection agencies seldom ask you to pay off your debt in full.
This is because collection agencies rarely pay for the debt at full price. If the payment you are offering is more than what they paid for it, then they would be more willing to accept it.
On the other hand, if your payment is below the price, they paid for it, they are less likely to cooperate. Hence, it is recommended that you at least offer to pay 50% of the debt price.
After you’ve decided on your payment amount, you need to start drafting your pay for delete letter. Your letter should be clear and succinct while exhibiting the absence of extraneous details.
Once your letter has been delivered, and you and Verizon have decided on a payment plan, you should then draft up a contract and have both parties sign it.
This is important in case you need to escalate your issue to the legal system or to the Consumer Financial Protection Bureau (CFPB).
4. Ask for a Goodwill Deletion
This strategy is the least recommended out of the four. A Goodwill Deletion letter is rarely granted since creditors aren’t obligated to honor it. Though despite its inefficiency, a goodwill deletion letter is still an authentic way to get rid of a Verizon Collections Account on your credit report.
A Goodwill letter is a request asking Verizon to remove the negative entry off your credit report. However, you do not give them any payment in return. Instead, you are just asking them to do this out of pure kindness and sympathy.
To make a Goodwill deletion letter, you must first express to Verizon why you were unable to make your payments on time. It would not be smart to lie about this, as debt collection agencies are good at determining what’s true and what’s false.
After you deliver your letter, it is completely up to Verizon if they want to fulfill your request, because like stated before, they are not obligated to.
In the end, the best way to get Verizon collections off your credit report would be to hire a credit repair company.
Credit repair companies are professional, experienced, and will always do what is best for you. This automatically takes unwanted stress off your shoulders because they handle everything for you.
How do I pay off Verizon collections?
If the debt is indeed yours, then you can either hire a credit repair company to negotiate with Verizon for you, or you could draft a pay for delete letter.
Nonetheless, hiring a credit repair company is recommended as opposed to the other option. When you hire a credit repair company, they will negotiate the best price for you, rather than letting Verizon take advantage of your situation.
Will Verizon sue me?
Unfortunately, debt collectors are legally allowed to sue you. Though the good news is that it doesn’t happen often. Unless you owe a large sum of money, you generally have nothing to worry about.
Additionally, the “suing process” is expensive (for the debt collecting agency), and it is time sensitive.
Debt collectors cannot legally sue you after a certain amount of time has passed. Although all states are different, the general range is 3-6 years. This time frame is known as the “statute of limitations”.
Yet, if this doesn’t reassure you all the way, feel free to contact an attorney, just to be on the safe side.
Wrapping Up: How to Remove Verizon Collections from Your Credit Report
In short, please remember that you are not alone when dealing with debt collecting agencies. This process can be quite frustrating, but if you stick to the tips that we’ve highlighted for you, you should be just fine.
Instead of allowing your financial situation to continuously stress you out, take control of it right now. The longer you hold back, the worst your credit score is going to get, and having a low credit is something no one wants to deal with, trust me.
So, take the steps we outlined above and begin to improve your credit score.