Are collections accounts weighing heavily on your credit report?
While missing a payment on one of your accounts might seem like a minor offense, it can have major consequences on your credit.
And if you’ve fallen behind on any of your accounts, you could find Fairway Collections on your credit report.
As long as the collections entry stays on your report, it’s hurting your score. In order to get an entry from Fairway Collections deleted from your report, read on.
We’ll provide you with an easy guide to getting a collections account removed quickly.
About Fairway Collections
Wondering if Fairway Collections is legit?
Fairway Collections LLC has been in business for more than 70 years, with its headquarters in Centralia, Washington.
You may be unfamiliar with Fairway. But the agency collects on a wide range of consumer debts, for example:
- Health insurance billing and follow-up
- Self-pay collections
- Education loans, tuition, fines and fees
- Parking tickets
- Government fines and fees
- Utility bills
- Checking and savings
- Mortgages and loans
- Credit cards
- Commercial leases
- Homeowner association fees
- Individual property payments
If you are overwhelmed by dealing with negative entries on your credit report,
we suggest you ask a professional credit repair company for help.
How Fairway Collections Works
So if you have debt in any of the areas listed above, Fairway Collections is legally allowed to contact you to collect.
Lenders and companies who provide you with paid services will attempt to reach you to collect payment on late accounts for a period of time.
After some time, they may turn your debt over to collections. As a result, a collection agency could be hired to assist them with the process.
On the other hand, they might purchase your debts from the company outright for pennies on the dollar.
Nonetheless, when your debt reaches collections, a negative item is added to your credit report.
And collections entries will stay on your report for a total of 7 years, even if you pay up your account.
It depends on other factors on your credit score and the extent of your debt. But a collections account can drop your score significantly.
Equally frustrating, debt collectors may communicate with you frequently, calling you regularly and sending letters in an attempt to collect payment.
How to Deal with Fairway Collections
Collection agencies have a bad reputation with many consumers. And you can see this by looking at complaints filed with the Better Business Bureau and the Consumer Financial Protection Bureau.
For instance, many complaints are centered around reporting errors, harassment, and failure to respond to debt validation requests.
These issues are frequent with collection agencies like Fairway Collections. So you should understand your rights under the Fair Debt Collection Practices Act.
Because this law ensures that debt collectors treat consumers ethically and report accurately.
For example, it keeps them from calling you at inappropriate hours, harassing you at work, or disclosing details of your debt to others.
Likewise, it lets you decide how you communicate with debt collectors.
Instead of communicating on the phone, we recommend you write letters instead. This way, you have documentation of every interaction, which can help you get the collections account removed from your report.
3 Ways to Remove Fairway Collections from Your Credit Report
Fairway Collections may have lowered your credit score in the past, but it doesn’t have to keep doing damage.
Because with one of the methods below, you should have no trouble getting a collections entry off your credit report.
1. Send a Debt Validation Letter
Collections agencies are legally required to provide you with evidence of any debts they attempt to collect on.
And the FDCPA grants you 30 days to submit a debt validation letter to the collection agency from when it first appears on your report.
All you need is an online debt validation letter template. Thus, fill in your details, submit it by certified mail, and wait for evidence from Fairway.
Then, if the agency is unable to provide you with details regarding your account, they will have to stop contacting you and update the credit bureaus on the situation.
When this happens, you should see the collections entry dropped from your report promptly.
This method is obviously worth attempting if you don’t believe Fairway should rightfully be on your report. However, it’s worth a shot if you do owe the agency money, too.
Third-party collections agencies may not always have the documentation on hand that they need to prove a debt is yours.
In any case, it’s worth taking a few moments to mail a letter and verify the details.
Mail your debt validation letter here:
Fairway Collections LLC
1616 S. Gold Street, Suite 5
Centralia, WA 98531
2. Negotiate a Pay-for-Delete Agreement
Don’t fret if you missed out on the 30 day period for filing a dispute or if Fairway was able to validate the debt.
Option 2 is to offer to pay the agency money in exchange for the deletion of the collections entry from your credit report.
Many consumers mistakenly believe that paying off their total balance to a collections agency automatically leads to its removal from their credit report.
Unfortunately, collection entries remain on your report for 7 years unless the agency agrees to delete them.
For the strategy to be most effective, you should write a letter to Fairway Collections offering to pay around 50% of what you owe.
Collections agencies are typically willing to accept negotiated rates, so you may be able to walk away without paying the full amount you owe.
Once you reach an agreement and submit your payment, keep an eye out for changes to your credit report.
It should be updated, with the collections entry removed, within a month.
If it isn’t, reach out to Fairway to remind them of your agreement and be sure that the entry gets deleted.
3. Get Help from the Experts
Credit repair can feel overwhelming, especially when you’re shuffling calls and letters from persistent collections agencies.
If you’re stressing out about dealing with Fairway, you may want to look into working with a credit repair company.
Credit repair companies are expertly trained and well-equipped to handle a variety of consumer credit issues, including confronting debt collectors.
Moreover, they can help you with some of the following problems:
- Hard inquiries
- Identity fraud
Not sure where to begin? Start out by setting up a consultation with one of our top picks for the best credit repair companies.
They’ll simplify the process of dealing with Fairway Collections and help you improve your score.