Consumer Shield offers its members assistance in preparing Collector Challenges & Information Challenges. Members of the Account Verification and Substantiation Program are also offered other benefits through independent service providers; these benefits include but are not limited to, education regarding account verification programs, good financial habits, and credit health. The funds that you pay go towards these benefits, as well as the Account Verification and Substantiation Program offered by Consumer Shield.
Collector Challenges are sent to third party collection agencies once we receive the third party collection letter from you. Creditors and third parties are required to keep meticulous records and must provide those records upon request – Collector Challenges compel the third party collection agency to deliver those records to you.
Collector Challenges request key information, forcing the collection agencies to prove that you owe them the alleged debt. Many times the collection agencies have not kept the records they’re required to and cannot provide the information that we’ve requested. Often, the collection agencies will respond to the paperwork with incomplete information if they respond at all. Sometimes, they will even cease collection activity once they see you exercising your consumer rights. At Consumer Shield, we are equipped to assist you in preparing whatever documents are appropriate, based on the collector’s response – or lack thereof. We are armed with the knowledge and skills to help you prepare the most effective documentation for your unique situation.
Information Challenges are sent to the three credit bureaus: Experian, Equifax, and Transunion. These documents that we assist you in preparing alert the bureaus that there is misinformation being reported on your credit report. These challenges explain to the bureaus that the incorrect information must be removed per your rights as a consumer. If the collection agency doesn’t remove the information, it may be a violation of your consumer rights. Sending these challenges is the last step in our Account Verification and Substantiation Program.
If you are bothered by creditor calls, please call Consumer Shield! The creditors and/or debt collectors may be violating your consumer rights.
In the rare case that an alleged creditor can fully verify an enrolled account, you will be due a refund of the amount paid towards that specific account. Please see your agreement with Consumer Shield for the various ways this refund may be paid.
The Fair Debt Collection Practices Act (FDCPA) is the main federal law that governs debt collection practices. The FDCPA prohibits debt collectors from using abusive, unfair or deceptive practices to collect debts from you. Under the FDCPA, debt collectors include collection companies and debt buyers.
Collection companies include collection agencies and lawyers who are regularly contracted by original creditors to attempt to collect debts for as part of their business. There are also companies that buy past-due debts from creditors or other businesses and then attempt to collect them; these debt collectors are usually called debt buyers.
Consumer Shield cannot guarantee that you will obtain any loans or financing as a result of the program.
Many times, in order to sell the account to a collector for a higher amount – an original creditor will add hundreds of dollars in interest and late fees to an account before charging it off. The balance of the debt doesn’t affect Consumer Shield ability to assist you in verification – this change in the account balance does not affect your program cost either.
We are here to help alleviate your stress. Your monthly payment was calculated based on your input about your budget and what you could afford when you signed your agreement. If your circumstances have changed, please call Consumer Shield and speak with one of our representatives so that we can assess your situation and try to meet your needs. We will do our best to accommodate you.
Under the FDCPA, creditors and collection agencies have guidelines that must be followed in order to stay within your rights. Our Violations Team is here to provide you with consumer rights education and training on how to protect those rights. They will review laws and statutes that were put into place to protect you as a consumer. We also may be able to connect you with an independent law firm that offers assistance identifying potential violations of your consumer rights. Should a violation of your rights be identified, this law firm may offer you the opportunity to retain them, at no additional cost to you! With their representation this lawsuit could result in debt waiver, tradeline deletion, or even damages owed to you!
Any information provided by Consumer Shield is for educational purposes only. Please do not misconstrue this information as legal advice. Should you need legal advice, please consult a licensed attorney.
Our independent service providers are companies with whom we have built relationships. These companies offer our clients services such as consumer rights education, assistance if creditors/debt collectors take legal action against an enrolled account, representation if your consumer rights are violated, tips on healthy financial habits and good credit health and many other invaluable benefits.
These companies are completely separate from Consumer Shield, which is why we refer to them as “independent service providers,” we are only affiliated through a shared goal of the best interest of our clients!