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Collections

How to Get Wilshire Consumer Credit Off Your Credit Report



If you have begun receiving calls from a company called Wilshire Consumer Credit, you are probably feeling overwhelmed by their advances.

They are a third-party debt collector and auto loan financer out of California.

They are aggressive, and they will not stop unless you pay them or remove their account from your collection account.

We can help you remove their collection account from your credit report.

With a few simple steps – and perhaps some professional assistance – you can get Wilshire Consumer Credit off your credit report and begin rebuilding your score.

About Wilshire Consumer Credit

Wilshire Consumer Credit, also known as Wilshire Commercial Capital, LLC, is a small collection agency and auto financing company located in Los Angeles, CA.

They are a subsidiary of Westlake Services, LLC and boast annual revenue of $4.2 million.

Like many debt collectors, they have faced many consumer complaints over the years.

In the past three years, the Better Business Bureau (BBB) has closed 377 complaints against them.

They have also been involved in 10 cases of civil litigation.

The culprit behind these cases and complaints is their disregard of the Fair Debt Collection Practices Act (FDCPA).

This is a federal regulation that prevents debt collectors from harassing or abusing consumers in the pursuit of payment.

If you experience any issues with Wilshire Consumer Credit, you have the right to file a complaint with the Consumer Financial Protection Bureau (CFPB).

They are responsible for regulating debt collectors and enforcing the FDCPA.

If you are overwhelmed by dealing with negative entries on your credit report,
we suggest you ask a professional credit repair company for help.

Ask Lex Law for Help

How to Get Wilshire Consumer Credit Off Your Credit Report

Getting a collection off of your credit report is not the easiest endeavor, but it can be done through a few essential steps.

Here are the steps to take to remove Wilshire Consumer Credit from your credit history.

Ask Them for Debt Validation

When a debt is transferred from your original company to Wilshire Consumer Credit, it is possible that information about the debt is misinterpreted.

The debt collector may have inaccurate data about dates of account activity or debt balance.

The best way to ensure that Wilshire Consumer Credit has the correct data about your debt is to request debt validation.

Under the FDCPA, you have the right to ask them to verify that the debt is yours. You also have the right to know that they are legally permitted to collect it.

The rub with debt validation is that it is a time-sensitive step.

You only have 30 days after you begin hearing from a debt collector to request validation. So it’s important that you act fast.

HOW TO REQUEST DEBT VALIDATION

In order to request debt validation, you have to send Wilshire Consumer Credit a Section 609 letter.

This is a formal request for them to send you the information they have on your debt.

Make sure that you include your account number, name, and original creditor so that Wilshire Consumer Credit is able to locate your debt in their system.

Per the FDCPA, they are required to respond to your request within 30 days of receiving your debt validation letter.

You can request a return receipt when you send your letter to know for sure that they have gotten your letter.

Wilshire Consumer Credit should return with documents detailing your debt. Go through each page and make sure everything matches up with your own debt records.

If there is anything that doesn’t match what you have, you can contact the major credit bureaus and file a dispute.

They will investigate and remove Wilshire Consumer Credit’s account if they agree that there was inaccurate reporting.

Work Out a Pay-For-Delete Agreement

You are required to pay for your debt if Wilshire Consumer Credit is able to validate your debt.

However, you can use your payments to your advantage in the process.

I recommend trying to work out a pay-for-delete agreement in the event that you have to repay your debt.

This type of settlement allows you to restore your credit report to its former glory and prevent extensive damage to your credit score.

Start by offering Wilshire Consumer Credit a portion of your total balance in exchange for account removal.

This likely will not land the first time, so you will need to go back and forth with them until you come to a compromise.

Once Wilshire Consumer Credit agrees to remove the account, write up a contract that lists the terms and conditions in clear language.

Make sure that they sign this contract before you submit a payment on the debt.

It usually takes about a month for their entry to disappear from your credit report.

Keep an eye on it to make sure that they follow through on their end of the agreement.

Hire a Credit Repair Company

If negotiating with debt collectors isn’t in your wheelhouse, you can always outsource that task to a credit repair company.

Credit repair companies are a lifesaver for people that are either too busy or too nervous to deal with Wilshire Consumer Credit themselves.

They can take over the communications and negotiations so that you don’t have to worry about it.

Working with a credit professional allows you to reap all the rewards of a collection account deletion without having to do the hard work yourself.

However, it’s important that you work with a company that is worth the money you’re paying them.

Check out our reviews of the top credit repair companies to help you determine which is the best fit for you.

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Conclusion

Before you pick up the phone and pay Wilshire Consumer Credit, it’s worth the effort to try and stop their collections by removing their collection entry.

Even if you can’t remove the debt through validation, you can still work out a settlement that benefits both parties.

Dealing with debt collectors and collection accounts is one of the first steps to cleaning up your credit history.

It’s best to handle Wilshire Consumer Credit now so that you don’t have to deal with the consequences later.

It’s never too late to improve your credit score. Check out some of our other articles to learn how to improve your score.

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