You may be feeling pressure from Collection Information Bureau, Inc. – also known as Colinfobur – to pay off a debt, but it is crucial that you take the time to respond properly. This includes never admitting liability for the debt and sending your response according to the summons you received in the mail.
- BBB Accredited A+ Rating
- $7,500 Minimum Tax Debt
- Money Back Guarantee
- You only pay if taxes are reduced
- Licensed in all 50 states
Follow these steps to make sure your response is filed correctly:
First, find the information for your response in the summons sent to you by mail.
Next, file a copy of your “answer” with the clerk of court, and ask for a stamped copy.
Finally, send the stamped copy by certified mail to Colinfobur’s lawyer. With this process, you can rest assured that your response is being handled appropriately.
How Does a Judgment Work?
A judgment is a court-ordered debt that you have not paid. This allows the creditor or debt collector to take money from your wages (garnish), put a lien on your home, freeze and take money from your bank account without consent, or take other collection actions.
If you don’t respond to a summons for debt, you’ll have a default judgment entered against you. This allows the debt collector to use garnishment at their disposal. If you ignore the original summons for a debt lawsuit, this is the consequence.
Here’s How You Can Find Out How Much Debt You Owe to Debt Collectors
If you are unsure of who you owe for debt, then you should figure this out as soon as possible. Debt collectors can be a bit sneaky, but you must respond and attempt to settle or clear up your debt as quickly as possible. If not, you may end up getting into deep trouble or gathering more fees.
If you have decided to clear up your debt, or are responding to a lawsuit, then it is the first step in rebuilding a healthy credit score and living a better financial life. Paying off past debt is not as easy as it seems. Going through these steps will take time and effort, but will also pay off in the long run.
Step 1: Make Sure You’re Organized
If you’re facing a lawsuit for debt, the first thing you need to do is get organized. Pull together all your bills and statements, and take a close look at them.
You may not owe the full amount that’s being asked for, or the debt may be too old to collect on. Once you have all the information in front of you, you can make an informed decision about what to do next.
Step 2: Obtain a Copy of Your Credit Report
If you’re looking to get a handle on your debt, the first place to start is by requesting copies of your credit report from the three main credit bureaus: Experian, Equifax, and TransUnion.
You can do this for free once a year at annualcreditreport.com. Another option is to go to creditkarma.com, where you can get two of the reports absolutely free.
Once you have your reports in hand, take a close look at each one to see if Colinfobur is listed as a creditor. If they’re not, you’ll need to request proof of the debt from them.
Step 3: Get in Touch with Colinfobur
If you have outstanding debts with multiple creditors, you can contact them to discuss payment options.
However, you must also contact Colinfobur to confirm the amount they believe you owe. If Colinfobur is unable to verify the debt, it cannot legally pursue collection.
Step 4: Compile Information and Reconcile It
If you find discrepancies between your credit reports and your own records, take steps to reconcile the information. This may involve reaching out to the creditor, Colinfobur, to clarify any misunderstandings.
If Colinfobur has already reported the debt to a credit bureau, you should be able to find their contact information listed on your report. This will give you the phone number of Colinfobur so that you can discuss the situation directly with them.
Step 5: Calculate Fees
If you have a debt that goes to collections, the agency may charge additional fees for their services. These are called “collection fees” and cover the costs associated with collecting the debt.
While it is legal for a collection agency to charge reasonable fees under the Fair Debt Collection Practices Act, there are limits to how much they can charge.
Colinfobur must state how much you owe specifically, as well as how much the fee is for their services.
They must also show you proof of your debt, which can be in the form of an original creditor’s statement or the difference between the amount you originally owed and what they now say you owe.
How to Get Help With Your Credit Report
Your credit score is an important factor that lenders look at when considering you for a loan. Having a high credit score means you’re a lower-risk borrower, which could lead to a lower interest rate on your loan. On the other hand, a low credit score could lead to a higher interest rate and could mean you won’t be approved for the loan at all.
There are things you can do to improve your credit score, like paying down debt and maintaining a good history of making timely payments on your bills. But what do you do if you have negative items on your credit report?
One option is to contact a credit repair agency. This can help not only with debt from Colinfobur but also with other debts you might have. These agencies can offer ways to figure out your debts and get your credit back on track.
Colinfobur Can Be Reached at The Following Number:
If you are looking for the Colinfobur phone number, you can find it easily enough. However, there are other ways to get in touch with them as well, including their address and website.
Phone Number: 800-231-3514 or 800-841-3065
Address: 202 North Federal Highway, Lake Worth, FL 33460
Website: Cibflorida.com
Clearone Advantage, Credit Associates, Credit 9, Americor Funding, Tripoint Lending, Lendvia, Simple Path Financial, New Start Capital, Point Break Financial, Sagemore Financial, Money Ladder, Advantage Preferred Financial, LoanQuo, Apply.Credit9, Mobilend
