How To Beat Autovest Financial Services Llc
How To Beat Autovest Financial Services Llc – Avtovest LLC does not collect debts themselves, instead their accounts are serviced by another collection agency called Michael Andrews & Associates LLC. 2
Autovest LLC is short for Autovest Financial Services LLC, and the debt position can appear under any name on your credit report.
How To Beat Autovest Financial Services Llc
Autovest LLC buys auto loan debt from Fortune 500 banks and auto loan financing companies. 1 Although they do not publicly disclose their client list, in 2011 they acquired a large loan portfolio from Wells Fargo. 3
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No, Avtovest LLC is not a scammer. They are legitimate debt buyers certified by the Receivables Management Association International (RMAI) since 2015. 5
However, even though Autovest is a real company, fraudsters can impersonate them. If someone from “Avtovest” LLC contacts you, before agreeing to pay anything, make sure your debt is real (and yours, not someone else’s).
Since Michael Andrews & Associates services the Autovest LLC account, you should contact them at the phone number listed (800) 420-3657 or through the Contact Us form on the website to determine what you owe
Disputing incorrect entries on your credit report can be stressful and difficult. Consider working with a professional.
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If you receive a call from a debt collection agent, you should receive written confirmation immediately afterward. If you don’t, it’s probably a scam. Be especially wary of anyone asking you to pay a debt you don’t recognize (or that you think you’ve already paid), and be sure to ask questions during the call to verify their relationship with Avtovest LLC.
Even if Autovest LLC is not a scammer, it is possible that they will still do something that violates your rights under the Fair Debt Collection Practices Act (FDCPA). Your rights (and how you can enforce them) are described below in this article.
Avtovest LLC will contact you if you have an overdue debt (or they think you have). Since they collect outstanding car loan debt, you may get a response from them after you default on your car loan and your lender will repossess your car during repossession.
If your lender repossesses and sells your car, the amount they receive from the sale may not be enough to cover the car loan balance or additional fees they incur as a result of repossession (such as towing and storage fees). The remaining amount is called the deficit balance.
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If you don’t pay the balance, your creditor can write off the debt and sell or turn it over to a collection agency. If your car has been impounded, and “Avtovest” LLC is still contacting you, this may be the case.
It is also possible that your debt was eliminated without repossession if your car loan was unsecured, although unsecured car loans are rare. Car loans are generally secured loans where your car is collateral.
When Autovest LLC first contacts you, you should ask them to send you a written notice detailing the debt they’ve collected, known as a debt statement, if they haven’t already done so.
According to the FDCPA, all debt collectors are required to send this letter within 5 days of first contacting you. 6 It should contain the following information:
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Representatives of Avtovest LLC will try to contact you if you do not pay the debt or settle with them (or your original creditor).
It’s a good idea to familiarize yourself with your rights by reading the FDCPA and the Telephone Consumer Protection Act.
If you believe that Avtovest LLC may be violating your rights, you should record your phone calls, save the letters they send you and keep a record of when they call you. This will make things easier if you need to take legal action against them in the future.
Yes, you can sue Avtovest LLC for harassment. If you can prove that the debt collection company violated your rights under the FDCPA, then you can seek statutory damages of $1,000 for each violation, plus any damages you suffered as a result of their violation. 6 Avtovest LLC will also be required to pay your attorney’s fees and court costs.
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If Autovest LLC has violated your rights under the FDCPA or has done something illegal, you can report it to the Federal Trade Commission, the Consumer Protection Bureau or your attorney general. From there you will be able to find out if you can also sue Avtovest LLC.
Another option is to file a complaint with the Better Business Bureau (BBB) website, but this may not get you the results you’re hoping for. Keep in mind that the BBB is actually a private organization that is not affiliated with the US government. They will forward your complaint to Avtovest LLC, but there is no guarantee that the agency will handle it satisfactorily. Additionally, if your dispute is referred to arbitration, you may waive the right to sue Avtovest LLC.
If your credit score has deteriorated due to “Avtovest” LLC debt, don’t worry. You can remove their collection account from your credit report by doing the following:
Everyone must complete the first two steps. The following is situational and you should follow the one that suits your situation.
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It is important to keep all your communications with Autovest LLC on paper, so communicate with them only in writing. If you ask them to stop contacting you and only communicate with you by letter or email, they are required by law to do so. 6 This should be your first step.
Be sure to date your letter and send it by registered mail. If you’re not sure where to start, see sample letters provided by the CFPB.
Sending a debt collection letter asking a collection agency to provide proof of your debt is one of the fastest and easiest ways to remove debt from your credit history.
When you send a debt collection letter, a third-party debt collector like Autovest LLC is required by law to provide proof that you have an outstanding debt. If they can’t do that, they have no choice but to remove it from your record. 7
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Use this debt declaration letter template if you have been contacted by a debt collection agency about a debt and want to dispute it. Collection agencies are required to respond to your debt confirmation letter.
Once Autovest LLC receives your debt verification letter, they are also required by law to stop contacting you about your debt until they send you proof that you actually owe the debt. 6
In most cases, debt collection agencies do not have sufficient proof of whether or not you owe the stated amount. If “Avtovest” LLC cannot verify your debt (or if you find that the debt is more than a few years old), go to the next step.
On the other hand, if it turns out that your debt is valid and recent, then proceed to one of the steps below, depending on your situation.
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Although the terms are very similar, they are two different things. A debt acknowledgment letter is an advance written notice that Autovest LLC is required by law to send to you. You can then respond with a debt verification letter that requires them to provide proof of your debt.
You can write a credit dispute letter to Experian, Equifax or TransUnion to remove the collection account from your credit report if the debt is in error or the statute of limitations has passed (meaning collectors can no longer force you to pay the debt until they sue you).
Use this credit dispute letter template to file a direct dispute with one of the credit bureaus. Errors in your personal information (such as an incorrect address) and credit accounts you do not recognize should usually be appealed to the bureau. Often it is the result of the bureau confusing you with someone else.
When you dispute an item on your credit report, be sure to send any supporting documentation you have. The credit bureau has 30 days to respond to your dispute. If they don’t, then they are legally responsible for clearing the debt. 7
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If the statute of limitations has expired (or it was never valid), you can also send a letter to Avtovest LLC asking them to stop contacting you. This doesn’t affect your debt status, so it’s not worth it if your debt is still current, because it means you won’t receive any warning if Autovest LLC decides to sue you.
The statute of limitations on most debts is between 3 and 6 years, but this depends on several factors, including the state in which you live. The best approach is to check your state attorney general’s website and their office email if the information you are looking for is not available online.
If you have a negative score on your credit report for a debt you’ve been paying late, you may be able to remove the mark by asking
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