Capital Management Services Collection Agency Debt Help

Dealing with Capital Management Services? Here’s What You Need to Know

But, take a deep breath. Getting calls and letters from a debt collection agency like Capital Management Services (CMS) can be stressful, but, you’re not alone. Millions of Americans face this situation every year. The good news? You have rights, and there are proven strategies to resolve this.We’re going to break it all down for you, step-by-step. No confusing legal jargon, just clear, practical advice from experienced debt resolution experts. Let’s get started.

Understanding Your Rights When Dealing with Debt Collectors

First things first, you need to know your rights under the Fair Debt Collection Practices Act (FDCPA). This federal law protects consumers from abusive, deceptive, or unfair debt collection practices. It’s like your legal shield against shady collector behavior.Under the FDCPA, debt collectors like CMS:

• Can’t harass or abuse you with threats of violence or obscene language. 1
• Can’t lie about the amount you owe or falsely claim to be attorneys or government representatives. 1
• Can’t discuss your debt with others, except to get location information. 1
• Must stop contacting you if you send a written request (more on that later). 1

But, the FDCPA isn’t just about what collectors can’t do. It also gives you the right to request debt validation within 30 days of their first contact. 1 This is crucial, so let’s explore it further.

Requesting Debt Validation from Capital Management Services

You know that nagging doubt, wondering if CMS has their facts straight about your debt? Well, you can demand proof with a debt validation letter. This is like calling their bluff, making them show their cards.In your letter, you’ll want to:

• Request the name and address of the original creditor.
• Ask for an itemized statement of how the debt amount was calculated.
• Clearly state you’re disputing the debt until it’s properly validated.

Here’s a sample debt validation letter you can use:

Send this via certified mail with return receipt requested. That way, you have proof CMS received it. If they can’t validate the debt, they’re legally required to stop collection efforts and remove any negative credit reporting. 1 It’s that simple.

Negotiating a Settlement with Capital Management Services

But what if CMS does validate the debt? Don’t panic, you still have options. One strategy is to negotiate a settlement for less than the full balance. Collection agencies often purchase debts for pennies on the dollar, so they’re motivated to recover something rather than nothing.Here are some negotiation tips:

• Offer a lump sum payment you can realistically afford, say 25-40% of the balance. 2
• Get any settlement agreement in writing before paying a dime. 2
• Insist the agreement states CMS will stop reporting the debt and remove it from your credit. 2
• Consider using a debt settlement firm if you’re uncomfortable negotiating directly. 2

For example, if CMS is trying to collect $5,000, you could offer to settle for $2,000 as a lump sum payment. But, make sure to get that agreement in writing first.

Setting Up a Payment Plan with Capital Management Services

If a lump sum isn’t feasible, you may be able to set up a payment plan instead. Just be very careful with the terms.Some key tips:

• Get the full payment schedule and amount in writing before agreeing. 3
• Insist they stop accruing interest and fees once the plan starts. 3
• Request they recall or stop reporting the debt during payments. 3
• Make payments by money order or certified funds to create a paper trail. 3

For instance, if you owe $3,500, you could propose paying $200 per month for 18 months with no interest or fees added. But again, get all those terms in writing first.

Dealing with Violations by Capital Management Services

If at any point CMS violates the FDCPA through harassment, lying about the debt, or illegal threats, you have recourse. You can file complaints with:

• The Federal Trade Commission (FTC) 4
• The Consumer Financial Protection Bureau (CFPB) 4
• Your state’s attorney general office 4

You can also sue CMS in federal court within one year of any FDCPA violation. Damages can include actual damages, plus up to $1,000 in additional damages. 4 An experienced consumer law attorney can advise if you have a case.

Removing Capital Management Services from Your Credit Report

Even if you resolve the debt, that negative collection entry can remain on your credit report for up to 7 years, dragging down your score. But, there are ways to get it removed sooner.The strategies include:

• Disputing the entry with the credit bureaus as inaccurate if CMS fails to validate. 5
• Negotiating a “pay for delete” where CMS agrees to remove it in exchange for payment. 5
• Hiring a professional credit repair company to handle disputes and negotiations. 5

For example, you could send debt validation requests to the credit bureaus. If CMS can’t validate to them, the entry should be removed as inaccurate.

When to Consider Bankruptcy as an Option

For some, bankruptcy may be the best solution to resolve debts like those with CMS. It allows for either complete debt elimination (Chapter 7) or restructuring into an affordable payment plan (Chapter 13).Some key considerations:

• Most unsecured debts like credit cards can be discharged in bankruptcy. 6
• Bankruptcy puts an immediate stop to debt collector harassment and lawsuits. 6
• Your credit will take a major hit initially but can rebound within 1-2 years. 6
• You’ll need to complete credit counseling and follow all court requirements. 6

Bankruptcy isn’t for everyone, but it can provide a fresh start for those overwhelmed by unmanageable debt. Consult a bankruptcy attorney to explore if it’s right for your situation.

Enlisting Professional Help to Deal with Capital Management Services

Look, we get it. Dealing with debt collectors is stressful and confusing. The good news? You don’t have to go it alone.There are professionals who can take this burden off your shoulders, like:

• Consumer law attorneys to enforce your FDCPA rights and negotiate on your behalf. 7
• Credit repair companies to dispute inaccurate credit reporting and remove negative entries. 7
• Debt settlement firms to negotiate affordable lump sum settlements with collectors. 7
• Non-profit credit counseling agencies to advise on debt relief options. 7

For example, a law firm like Spodek Law Group has extensive experience dealing with abusive debt collectors. We can quickly determine if CMS has violated any laws, and take decisive legal action to resolve the issue favorably.

Avoiding Future Debt Collection Issues

Once you’ve resolved this CMS debt, you’ll want to avoid future collection nightmares. Some tips:

• Check your credit reports regularly and dispute any inaccuracies immediately. 8
• Set up payment reminders or automatic payments for all bills to avoid missed payments. 8
• Negotiate with creditors before accounts go to collections if you’re struggling. 8
• Build an emergency fund to cover unexpected expenses that could lead to debt. 8

It’s simple. Every single client deserves honesty and white glove service. At Spodek Law Group, we leave no stones unturned. We do everything possible to win. Everything we do is focused on getting you results.Most law firms implement a cookie cutter strategy in order to fight your case, and save their own time. They don’t look carefully at your situation – they simply want to move on to the next case. We understand the difficult and challenges of going through a case. If you’re accused of a crime, schedule a consultation with our criminal attorneys today.Sometimes prosecutors will only be fair if you respond with force to them. Without an attorney advising you, you might accidentally plead guilty when you could’ve won the case. The only way to truly know is to hire a private criminal defense attorney.At Spodek Law Group – we pride ourselves on taking a hands-on approach. It means researching the exact situation surrounding your case, and putting in the leg work to be familiar with every single intimate detail. Our firm has excellent work ethics, and we constantly hold firm meetings in order to discuss and address all of our cases. In the event of an emergency – we have a full team of lawyers available to help you.Regardless of how tough your situation is – we are here to help you. Our criminal defense lawyers work hard to have a solution for you, irrespective of the situation you find yourself in. Many clients are often embarrassed by their situation, and don’t speak openly about their alleged issue. We encourage open dialogue, and recommend full transparency – so we can give you the best possible legal advice.

The Bottom Line on Dealing with Capital Management Services

Look, getting calls from a debt collector is never fun. But, you have more power than you may realize when it comes to resolving debts with companies like CMS. By knowing your rights, you can fight back against any illegal behavior and potentially settle for a fraction of what’s owed.The key? Being proactive in requesting debt validation, negotiating firmly yet professionally, and considering all your options from settlement to bankruptcy. Don’t let an unscrupulous collector take advantage.