If you’re hearing from a professional debt collector such as Stellar Recovery Inc. you may be feeling overwhelmed and a little intimidated.
That’s normal. Because between their daily phone calls, frequent letters, and presence on your credit report, it’s hard to know where to start.
If Stellar Recovery Inc is the agency hounding you about outstanding debts, we can help.
We’ll tell you everything you need to know about the debt collector and break down a few simple steps for getting them out of your hair and off your credit report.
Hopefully, you might not even have to repay a penny of what you owe.
What Is Stellar Recovery Inc?
Most people aren’t familiar with the name when it appears on their credit report.
However, Stellar Recovery Inc is a bona fide debt collection agency, one that’s been in business since 2008.
The agency is headquartered in Jacksonville, Florida, with the mailing address below:
4500 Salisbury Rd #125
Jacksonville, FL 32216
How Does Stellar Recovery Inc Work?
What exactly does it mean when you have a Stellar Recovery collections entry on your report?
Stellar Recovery Inc is a third-party debt collection agency. These types of agencies are either paid by companies to help collect payments from consumers, or they purchase these debts at a low rate.
So once the collection agency has your debt, they report it to the credit bureaus, resulting in the collections entry you see on your report.
Then, this type of entry might lower your score by a few points, or it may lead to a more significant drop depending on the extent of your credit problems.
At any rate, it stays on your credit report for seven years, even if you repay your debt unless you actively get it removed.
Alongside the damage a collections agency does to your credit, it can also make your day-to-day life stressful.
Because debt collectors can call you rather frequently and mail you letters about your debt until you make a payment.
If you are overwhelmed by dealing with negative entries on your credit report,
we suggest you ask a professional credit repair company for help.
3 Ways to Remove a Stellar Recovery Collection from Your Credit Report
So with all of the above in mind, here are a few ways to get a collections account removed from your credit report.
1. Ask the Agency for Proof
The FDCPA grants you 30 days to ask a debt collection agency for proof of the debt that they’re claiming you owe if you mail them a debt validation letter.
When you submit a validation letter, they’ll have to send you details about your account and the debt.
If the company can’t provide you with evidence of the debt, they’ll stop trying to contact you and will report the inaccuracy to the credit bureaus.
This strategy should work to get Stellar Recovery off your report promptly if you were contacted by the agency by mistake.
However, it’s worth trying whether you owe Stellar Recovery or not.
When debt collectors purchase debts from service providers and lenders, they don’t always have the documentation required to validate your debt.
Bottom line: If it hasn’t been more than 30 days since Stellar Recovery showed up on your report, give debt validation a shot.
You might not have to pay the agency anything to get the debt forgiven and deleted from your credit report.
2. Pay to Get the Entry Deleted
Ideally, you can get Stellar Recovery removed from your report without having to make a payment by sending in a debt validation letter.
But what should you do if that strategy fails, or you missed the 30-day window for disputing the debt?
In that case, your best bet might be to pay the collection agency to have the entry removed.
When you simply follow a debt collector’s instructions and pay the balance you owe, it may stop their phone calls, but it won’t do your credit much good.
The only way to guarantee that the collections entry is deleted is to get Stellar Recovery Inc to agree to have it dropped.
To do that, you need to arrange a payment. The good news is that you can often get a collections agency to agree to accept a negotiated amount.
Just remember to do your negotiating in writing so that the terms of your agreement are clear and Stellar Recovery is held accountable.
Your report should reflect the payment shortly after it’s made.
If a month goes by and your credit report still displays a collections entry from Stellar Recovery Services, you should follow up with them ASAP.
3. Use a Credit Repair Service
Repairing your credit can be time-consuming and stressful at times.
If you’d like to hand off the task of confronting debt collectors to someone else, you may want to look into hiring a credit repair company.
These companies are pros at getting collections entries and other negative items removed from your credit report.
They can dispute your debt, negotiate a pay-for-delete agreement, and help out if a debt collector oversteps the boundaries of the FDCPA.
They’ll also help to tackle more challenging credit issues like bankruptcy, liens, and judgments.
There are several stellar credit repair companies to choose from, with each offering excellent services and superior customer service.
How Stellar Recovery Inc. Impacts Your Credit
Stellar Recovery Inc is a third-party collection agency. These types of debt collection agencies usually get paid in one of two ways:
- by helping your original creditor collect your old debt in exchange for a commission.
- by buying your old debt for pennies on the dollar and then collecting from you for profit.
Once the collection agency receives your debt, it puts the collection account on your credit report with the three credit bureaus.
This type of negative item in your credit history could lower your credit score by a few points if you already have other similar blemishes — or it could drop up to 100 points off your score if you had excellent credit.
Either way, this negative item can stay on your credit report for seven years, even if you repay your debt, unless you actively get it removed.
How Stellar Recovery Inc Can Impact Your Life
Alongside the damage to your credit score, a collections account can make your day-to-day life more stressful.
Debt collectors have your contact information and they like to use it. They can call you every weekday and mail you letters about your debt until you make a payment.
You’ll need to exercise your rights under the federal Fair Debt Collection Practices Act (FDCPA) to limit how often and when Stellar Recovery Inc. can contact you.
You even have the legal right to insist this debt collector never calls you again; however, this won’t solve the problems with your credit score.
Dealing with Stellar Recovery Inc
Don’t pick up the phone and pay Stellar Recovery Collections just yet.
Before you interact with the agency, take a few minutes to learn about the Fair Debt Collection Practices Act.
It’s a law that was written to keep you safe from abusive debt collection practices and to ensure that faulty reporting does not lead to damage to your credit score.
Here are a few of the specific ways the FDCPA has your back:
- Collection agencies can never threaten violence or use inappropriate language.
- Debt collectors can never call you outside of 8 a.m. to 9 p.m.
- Agencies may not share your financial information with anyone else in an attempt to collect.
- Debt collectors are restricted from calling you at work if you request that they don’t.
Many consumers have complained about these issues, along with inaccurate reporting.
You can find consumer complaints against Stellar Recovery with the Better Business Bureau and the Consumer Financial Protection Bureau.