Commonwealth Financial Systems on Your Credit Report? Fight Back and Win

Are you fed up with the incessant phone calls from Commonwealth Financial Systems (CFSI Collections)? If so, it’s understandable. Over the years, this debt collection agency has built a reputation as a business that will stop at nothing to collect an alleged debt.

Unfortunately, there are many allegations against this company for making credit reporting errors, mixing up accounts, and reporting inaccurate information to the credit bureaus. With that said, you don’t have to fight against this debt collector alone. Our FCRA lawyers are here to help you get them off your credit report as soon as possible.

Contact us today for your free case review. Continue reading to learn everything you need to know about Commonwealth Financial Systems and how to stop the calls.

Is Commonwealth Financial Systems, Inc Legit?

Commonwealth Financial Systems, Inc. is a reputable debt collection agency with more than three decades of experience. Despite its long time in business, the company has still received numerous complaints from consumers due to violations of the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA).

Therefore, it’s vital that you’re aware of your consumer rights and act (if necessary) when you feel a debt collector like CFSI Collections is not treating you fairly according to the law. That’s especially true if you’re experiencing harassment or they refuse to acknowledge a credible dispute.

How to Get in Contact With Commonwealth Financial Systems 

Suppose CFSI Collections contacts you about an emergency room bill from four years ago – The only problem is you’ve never been to the ER in your life. In that case, it’s understandable if you want to reach out to Commonwealth Financial Systems to learn more about this alleged debt and how to get it off your record. 

Here are the contact details for Commonwealth Financial:

• Phone number: 1-800-848-2170
• Website: CFSI-arm.com 
• Address: 245 Main St, Dickson City, PA 18519, USA

What Kind of Company is Commonwealth Financial Systems?

Many allegations of illegal debt collection practices are levied against Commonwealth Financial Systems. In fact, they have amassed countless negative reviews and complaints online.

Listed below is a snapshot of the reviews you can find online about CFSI Collections:

• Google Rating: 1.5 out of 5 stars (237 written reviews)
• ConsumerAffairs: 1 out of 5 stars (67 ratings)
• Better Business Bureau: 1.4 out of 5 stars (330 complaints in the last 3 years)

These reviews say a lot – if you feel like this collector has violated your consumer rights, engaged in debt harassment, or you’re just finding it difficult to work with them, there are many people out there who feel the same.

Contact us today for a free case review with a proven debt lawyer.

Who Does CFSI Collections Work With?

Commonwealth Financial Systems is mainly known for debt collection in the healthcare sector, which is similar to debt collection companies like Medicredit. However, they also have clients in many other industries like government, retail, finance, etc. Its most notable clients include Convergent, Capital One, and Texas Health. It’s important to note that CFSI Collections doesn’t make its client list public. Therefore, this is not an exhaustive list.

Generally, if you notice a negative item on your credit report about an old, paid-off, or otherwise invalid debt, it’s in your best interest to take action as soon as possible. Similarly, if you’re receiving calls for a valid debt, be sure to act quickly. The longer negative items stay on your credit report, the more damaging they can be (in most cases).

Why is Commonwealth Financial Systems on My Credit Report?

Commonwealth Financial Systems, Inc may appear on your credit report because a creditor has hired them to collect an outstanding debt. The debt may have been sold or transferred to them by the original creditor, who will then report it to the credit bureaus.

If you believe this debt is not yours, or if you think Commonwealth Financial Systems, Inc is reporting incorrect information, you are entitled to dispute it with them and the credit bureaus. This is where the Fair Credit Reporting Act (FCRA) comes into play, as it requires credit bureaus to investigate disputes and remove false data from your report.

For any issues concerning a debt on your credit report or with Commonwealth Financial Systems, Inc., consulting with a qualified lawyer experienced in FCRA and debt collection law is advised. They can provide you with expert advice and help ensure your rights and financial security are safeguarded.

What Should I Do If I Owe CFSI Collections?

If you owe money to Commonwealth Financial Systems, Inc (CFSI), it's crucial that you approach the situation correctly. Here are a few steps to take:

• Verify the debt

Before taking any further action, make sure that the debt is actually yours to pay. Under the Fair Debt Collection Practices Act (FDCPA), you have the right to request verification of the debt from CFSI.

• Negotiate a payment plan

If you confirm the debt is yours, contact CFSI and work out a payment plan- get any agreements in writing and keep copies of all relevant documents.

• Settle the debt

If you have enough funds, try to negotiate a settlement with CFSI- offering a lump sum that is less than what is owed in total. They might accept it in order to get something instead of nothing.

• Get legal help

If CFSI is using unfair or illegal tactics, or if you need advice on how best to proceed, consider seeking legal help from someone knowledgeable about FDCPA and debt collection law. They can help ensure your rights are protected.

Remember not to ignore the debt, as this will only lead to bigger problems down the road- such as damage to your credit score or legal action against you.

Contact Us For Your Free Case Review

Whether you want to pay your debt to CFSI Collections or you want to dispute it, we’re here to help every step of the way.  Our FCRA attorneys understand debt law, consumer rights, and how to stand up for our clients. Most importantly, we know how to deal with Commonwealth Financial Systems. Contact us today to schedule a free case evaluation.