Have you recently received a letter from LVNV Funding LLC? LVNV Funding is a debt collection agency that purchases debt from creditors all over the country and then attempts to collect it. This may be due to a past debt that you have associated with one of your credit lines. The situation can be confusing...
Has the CBC Group recently reached out to you? Or have you received a statement for outstanding medical bills, utilities, and other accounts?
If you’re currently dealing with a collection account, it may be already listed in your credit report. Simply paying off the debt will not get it removed from the report until seven years after it was first reported. All hope is not lost. You can try various strategies to have the CBE Group collections removed from your credit reports.
- What is CBE Group?
- Why is CBE Group Calling Me?
- How to Remove CBE Group from the Credit Report?
- CBE Group Contact Information
What is CBE Group?
The CBE Group traces its origin to 1985 when it was formally incorporated. It’s a subsidiary of the CBE Companies, which has existed since 1933.
About 1,500 people work at CBE Companies in their three global locations. Previously, the company was involved in credit reporting services but now primarily focuses on collections. The CBE Collection agency innovated and patented the LocateSmarter Skip Tracing system for tracking hard-to-find consumers.
It’s among the four private collection agencies that collect on behalf of the IRS and government.
What Does CBE Group Stand For?
Though no official definition has been offered, the term may be associated with Commercial Business Exchange. In its daily dealings with customers, the company stands by its “Golden Rule,” which entails treating others the way they would also like to be treated.
What Does CBE Group Collect?
The CBE Group Inc collects on a wide range of accounts, with extensive experience in some sectors. For instance, they claim to have offered health care patient account resolution services since the 1940s. Some of their main collection account types include:
- Credit card debts
- Medical accounts
- Telecom accounts
- Federal and private student loans
- Tax debt
- Non-tax related government debt
Federal contracts makeup over 60% of their active inventory.
Is CBE Group a legitimate company?
The CBE Group collection agency is not a scam. Over many years of operation, the company has never been involved in litigation lawsuits for breaching Fair Debt Collection Practises. The company even utilizes the CallMiner Speech Analytics software to assess the quality of calls and ensure that all its practices are above board.
Now, the company has a verified BBB org page, where there have been about 235 CBE Group complaints in the last three years. They take time to address each complaint and most customers are satisfied with the company’s responses. You can similarly read CBE group reviews from past customers on their profiles to see if you’re having the same issue.
Why is CBE Group Calling Me?
Have you received a call from a CBE debt collector? They call regarding an outstanding debt you owe to one of their clients. If they are calling about an IRS debt, they may ask a series of questions to ascertain your identity. CBE debt collectors may ask for your Taxpayer identification number.
The call should be above board with the debt collector coming off as courteous, professional, and respectful of your consumer rights. They should not use any harassment techniques, such as using profane language, issuing threats, or masking their identity. You can report them if they’re acting inappropriately.
How to Remove CBE Group from the Credit Report?
Consumers can employ different strategies to remove CBE Group collections from credit reports.
Before getting started, order all copies of your credit reports from annualcreditreport.com. Check if the CBE debt collection account appears on all three reports. If one or two bureaus contain the record, this could be the first sign of an error.
Validate the debt by requesting a debt validation letter
Debt collection agencies must establish, without any reasonable doubt, the legitimacy of the owed accounts. Write the letter within the first 30 days of the initial contact from CBE collections. In the letter, you may ask for the following details:
- Basic creditor information: Name and address of the original creditor, creditor account number, etc.
- Details about transferred debt collections: Debt collection accounts may change hands between different agencies. Current creditors should supply details about the original creditor, including the amount when the debt was transferred.
- Supporting documentation: Ask the CBE Group for further verification, such as documentation that shows that you’re obliged to repay the debt.
- Verification of the outstanding balance: The letter can request the last billing statement sent by the original creditor along with a detailed itemization of interest charges, fees, payments, reductions, and other adjustments.
Working from pre-made templates can help you craft a sound letter. Check the free debt collector sample letter provided by the FTC.
If the CBE Group fails to sufficiently verify the debt, they may be required to stop collection efforts. The strategy may work with certain types of debts and may not yield great results for verifiable debt such as Federal Student Loans. Still, it cannot hurt to try.
Dispute if you believe an error has been made
Receiving a call for an account that you don’t owe any money is not a strange occurrence. To err is human, and you may be a victim of mistaken identity, particularly if you share a name with someone who is legitimately responsible for the debt. The original creditor may have also misappropriated your payments. You can get the error removed by:
- DIY dispute approach: You can write to the bureaus pointing out the errors or use their available online disputing centers. Make sure to provide additional supporting documentation to prove your claim and aid bureaus in their reinvestigation. Similarly, contact the original creditor that reported the error.
- Getting help from credit repair companies: A credible credit repair company should offer an initial analysis of the debt collection account to determine its legitimacy and the chances of having it removed before asking you to enroll for paid services.
States have statutes of limitations on debts. They vary and it may be helpful to check. After the allotted period has expired, the collection agency cannot sue you for the debt. However, the CBE Company can still attempt to collect it. A lawyer can offer additional advice if you think that the statute of limitations has elapsed.
Request a Goodwill removal
It never hurts to ask for forgiveness and the Goodwill removal of collection account entries from your report. You’ll first need to get in touch with someone in authority at CBE Group; ideally, a person who makes important decisions as support reps may not have this power.
The person must be willing to hear you out, and they may ask you to write a Goodwill Removal letter. In the request, you offer reasons why you need the account to be deleted. You can say that the entry is severely impacting your ability to qualify for a mortgage for your family.
The request may have a better chance of success if you have been a good customer and have made all attempts to repay the debt without coercion. Certain accounts may have a better chance of deletion such as medical bills or student loans.
Negotiate for pay for delete
A pay for delete is a debt settlement strategy where you ask the debt collection agency for their commitment to delete the collections account with a promise that you’ll pay a certain amount. The method is held to have a low success rate but it never hurts to try. You can also use a pay-for-delete negotiation letter to ensure that you have all the bases covered.
Settle the collections account
If you fail to remove the CBE Group debt collection using the stipulated methods, you should still consider settling the debt. Most lenders turn down customers with outstanding collections accounts as they may be a liability. You will also receive favorable treatment if the lender utilizes a scoring model that does not take into account paid-off collection accounts such as the FICO® Score 9.
CBE Group Contact Information
The CBE Group offers various touchpoints for customers. For initial inquiries before enrolling into debt repayment programs, you can get in touch with the client representatives by calling 1-800-925-6686. If you want to make payments, visit the main website at www.CBEGroup.com, and select your debt collection account type. The company also communicates through eNotices and text messaging.
The CBE Group, Inc.
1309 Technology Parkway
Cedar Falls, IA 50613
The CBE Group Inc is a credible and legitimate debt collection agency. They are mandated by various clients, including government organizations, medical companies, and telecommunication entities, to collect on outstanding debts. Trying to avoid them is not a viable strategy. Work on getting the debt account resolved if you cannot remove it from your credit report.