Have an issue with Phoenix Financial Services? Need help?
Have you been harassed by a debt collector or a debt buyer? Is someone from Phoenix Financial Services contacting you every day, multiple times per day by phone, mail, email, or Facebook? Are they threatening to sue? We explain all about Phoenix Financial Services and whether they are legitimate and what to do if they contact you.
Phoenix Financial Services is a debt collector. They are a small company that was founded in 2014, but they are legitimate.
Yes, if you legitimately owe the money you should pay Phoenix Financial Services. However, even legitimate companies have been known to sometimes act unfairly and violate things like the Fair Debt Collection Practices Act (FDCPA). So if you have been harassed or treated unfairly, consider filing a complaint or working with an attorney.
Yes, Phoenix Financial Services is a legitimate company.
Phoenix Financial Services is not a junk debt buyer, they are a legitimate debt collection agency.
Don’t assume you can ignore Phoenix Financial Services. If you ignore them, Phoenix Financial Services can take legal action against you to get the money back. That said, even though they are a legitimate company, Phoenix Financial Services sometimes makes mistakes or violates the most recent FDCPA regulations about when and how they contact you. If this happens, you can share your complaints with outside attorneys, or file complaints with the government. You can get legal help to sue the collection agency if that is insufficient.
Phoenix Financial Services collects for Government organizations, student lenders, and medical companies. They specialize in collecting on student loans, unpaid medical bills, or money that you owe the government.
If Phoenix Financial Services is calling you and you don’t think you have debt, you need to send them a request for validation. You must do this within 30 days from the first point of contact. Once they receive your letter, they have to stop their attempts to collect from you, and they have to verify the legitimacy of the debt. Even reputable companies make mistakes and this will give them the opportunity to recognize that mistakes. If they can’t prove the legitimacy of the debt or they don’t abide by the law in their attempt to do so, you can send them a communication called insufficient validation.
If Phoenix Financial Services is calling about debt I’ve already paid, double-check your records and send them a request for validation. This will force Phoenix Financial Services to stop their collecting attempts and authenticate the debt. Do this within 30 days of your first contact. Phoenix Financial Services might have incorrect information and not know it. If you see that it has debt you have already paid, present your evidence to the credit reporting agencies and ask them to fix it. You can get help with this from an attorney.
As a debt collector, some of the laws that Phoenix Financial Services must follow include the FCRA, the FDCPA, and the TCPA.
That alphabet soup stands for the Fair Credit Reporting Act, which gives you rights to help ensure your credit report remains accurate; the Fair Debt Collection Practices Act, which protects you from being abused and deceived by debt collectors; and the Telephone Consumer Protection Act, which limits robocalls and other telephone spam.
If you think any of these consumer protection laws may apply to your situation, tell us about it.
If you believe the debt Phoenix Financial Services is calling about has expired, you want to do the same thing: check your records and simultaneously, send Phoenix Financial Services a request for a validation letter. There is a different statute of limitations for each type of debt, so you want to check your credit report to make sure the debt actually expired. Sometimes companies like Phoenix Financial Services think they are collecting on non-expired debt when they aren’t, or they never bothered to check in the first place.
There are a lot of ways you can settle for less. Debt collectors don’t usually own the debt they are calling about. They are still tasked with getting payment from you but they aren’t the owner which means they don’t have as much stake in getting the full amount. If they can get even a fraction of what you owe, they have succeeded in their task. Moreover, the people you speak to get a bonus when they settle your account most of the time so you can use this information to try and negotiate a more favorable settlement especially if it is coming up at the end of the month.
If you owe the money, the best way to get rid of Phoenix Financial Services is to settle with them. If you don’t think you owe any money, you can ask Phoenix Financial Services for a validation letter, something you should do immediately. You can try to settle for less if the debt is legitimate and if it isn’t, you can send the company a letter of insufficient validation. These are all things that attorneys can help you with.
If your debt is current, yes they can sue you. However, some companies like to sue sooner than others. If you ignore them, then it’s more likely that they can and will sue you. However, debt collectors like Phoenix Financial Services are prohibited from suing or threatening to sue consumers for payment on a debt that is past the statute of limitations, although they can still ask for payment past that expiry date.
Phoenix Financial Services LLC owns Phoenix Financial Services.
The current CEO is Travis Wilson.
Phoenix Financial Services is headquartered in Indianapolis, Indiana.
Phoenix Financial Services collects for medical bills, government bills, and student loan debt.
Employees are paid an hourly wage and they get a commission. This means the people who call you are financially motivated to try and get a settlement sooner rather than later because it means they get a bonus.
If you have recently checked your credit score and saw something labeled “Phoenix Financial Services” on your credit report, that means you had an account that was sent to collections, likely labeled as delinquent.
No, you do not require a lawyer, but you might find that it’s easier. Lawyers can handle all the communication on your behalf. While you might have a very busy schedule and be unable to take multiple phone calls during the workday, a lawyer and their staff can take phone calls at any time and regularly call the collection agency to follow up as necessary.
The FDCPA uses the word “verify,” but some other organizations use the word “validate.” No matter which word is used, it can mean two things. First, You “validate” a debt by sending a letter to Phoenix Financial Services officially asking them for information that would confirm the validity of the debt. You or an attorney must do this within 30 days from the first time they contact you.Second, Phoenix Financial Services then “validates” the debt on their end by providing you with this information. They cannot continue their collection attempts until they have verified the debt. If they cannot verify it, they have to stop collection attempts entirely. This process should take no more than 30 days.
The length of time it takes to reach a settlement is very individualized. It can take just a few weeks, a couple of months, or a little bit longer if you are trying to prove financial hardship, if you need to liquidate assets in order to pay for your final settlement amount, or if you are trying to contest the debt. In some cases working with an attorney can expedite the process because attorneys understand how to negotiate with the company, what to ask for, and what the different deadlines are.
What you offer is based on your financial situation. Most debt collectors like Phoenix Financial Services try to collect between 40% and 80% of the total amount you owe. However, you can try to settle for less based entirely on your financial situation.
Yes, creditors can sue you if you ignore their attempts to collect a debt, even if that debt isn’t yours or there was some mistake because it was already paid off. However, the only way they can make money from your bank account is if they get a default judgment against you in court after you have ignored attempts to collect on the debt.
You can ignore Phoenix Financial Services, but you shouldn’t. If you think there was a mistake, they shouldn’t be contacting you, or you are just afraid to answer your phone, ignoring their attempts to contact you and collect on the account only makes things worse. It leaves you open to additional legal action like lawsuits and it can close your window of opportunity when it comes to proving there was a mistake with the account.
When debt collection agencies like Phoenix Financial Services get a new account it comes with your contact information.
Yes, Phoenix Financial Services lets you pay by phone, online, or through the mail. No matter how you pay, it is easy, secure, and private. If you choose to pay over the phone with a credit card, you get rerouted to the EvokePay site Phoenix Financial Services uses and there may or may not be a fee.
Yes, paying off collections or delinquent accounts will improve your credit long-term. Every account you have whether it was sent to a debt collector or purchased by a debt buyer will still show up on your credit score until it expires. The sooner you pay it off, the sooner you can get it removed from your credit score and start to see an improvement in your credit rating. Bear in mind that if you have an account sent to collections and you negotiate a settlement, you want to include a tradeline deletion as part of that settlement. If you don’t include a tradeline deletion, even after reaching a settlement that account will appear on your credit score for 7 years marked as “settled” with a zero balance.
No. This is a common misconception. In reality, debt expires once it reaches its statute of limitations. This statute of limitations is based on the type of account and the state. Not all that qualifies for a statute of limitations. 7 years is the average length of time but it can be up to 14 years.
Bankruptcy does not automatically make your debt go away. In fact, if you file for bankruptcy, you are still responsible for making all attempts possible to repay the debt you owe. Bankruptcy stops creditors and debt collectors from harassing you but they still have to agree to the terms of the settlement you reach. Only after fulfilling your end of the terms will any remaining debt go away.
There are two ways to get debt removed from your credit score. First you have debt that has been paid (without going to collections), is incorrect, not yours, or has expired. So you contact the credit reporting agencies and make them update your records. Alternatively, if your account has been sent to collections, then you need to negotiate with Phoenix Financial Services for a tradeline deletion. Reaching a settlement and paying that settlement in full will not remove the debt from your credit score. Instead, it remains on your report for seven years marked “settled” with a “zero balance”. If you get a tradeline deletion, Phoenix Financial Services contacts the credit reporting agencies and has the account removed entirely.
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