Security Credit Services on Your Credit Report? Fight Back and Win

If Security Credit Services is listed as a collections account on your credit report or is calling, you could be confused and potentially experience a lot of stress as a result. If you find yourself in this situation, steps are available to deal with Security Credit Services and potentially remove the negative information from your credit report, so it no longer affects your credit score and finances.

Not getting Security Credit Services off your credit report can adversely impact your ability to get loans and credit cards. Even when you can get credit, you will have a higher interest rate if your score is lower. Removing Security Credit Services from your credit report is a priority. 

What Is Security Credit Services?

Security Credit Services is a receivables management firm known as a third-party debt collector. The company is based in Buffalo, New York. Security Credit Services buys existing debt from customers of other companies and then attempts to recover some or all of it. 

Is Security Credit Services a Real Company?

Security Credit Services isn’t a scam. They are a real debt collection company, but they aren’t accredited by the Better Business Bureau. 

There are numerous complaints issued by consumers against this company as well. For example, there are reports from consumers who say they’re the victim of identity theft, and despite trying to explain this to Security Credit Services, they continue to get calls from them or see them on their credit reports. 

There are quite a few reports from consumers who say they’ve tried unsuccessfully to contact this company and received no response, and many people say that despite going through all of the required steps to dispute a debt, they’ve heard nothing back from Security Credit Services. 

Another complaint among consumers is that while they might have owed the debt legitimately, they say they’ve already worked out payment plans or settlements with the original company, yet they’re getting calls from Security Credit Services. 

Why Is Security Credit Services Calling Me?

If you’re getting calls from Security Credit Services, it’s because they have purchased a debt from another original creditor, and they believe you owe payment for it. 

Who Does Security Credit Services Collect For?

Since Security Credit Services buys debt, they collect it from various original creditors. They work quite a bit with delinquent and charged-off debts from banks and financial and credit card companies. 

What Should I Do About Security Credit Services?

You might be dealing with Security Credit Services in a few primary scenarios.

In one, they bought a debt from a company you did business with, and you do owe it. The debt was probably charged-off originally. 

When a debt is charged-off, it means that the company has written off the debt with the belief they aren’t going to recover the owed money. You’re still responsible for paying it, though. The creditor or lender might use a charge-off once someone is very behind on payments.

Charge-offs can significantly impact your ability to borrow money in the future and open new accounts.

A charge-off will stay on your credit for seven years typically, and during this time, you have to wait it out or try to negotiate to have the creditor remove it. If Security Credit Services buys a debt, it might be listed on your credit report both with the original creditor as charged-off and as a collections account. 

Under the Fair Debt Collection Practices Act (FDCPA) regulations, Security Credit Services can’t use harassment or intimidation to collect debts. Debt collectors must be transparent with all information related to the debt and avoid trying to contact someone at purposely inconvenient times.

While you could legitimately owe the debt Security Credit Services is calling you about, it could also be a mistake, or you could be an identity theft victim. 

How Do I Know If I Owe a Debt?

If you get calls from Security Credit Services or see them listed on your credit report with any of the three major bureaus, and you believe there’s a mistake, you have protections under federal law as a consumer due to the Fair Credit Reporting Act (FCRA).

If you aren’t sure whether or not you owe a debt or you’re being contacted by Security Credit Services and don’t know why, contact an FCRA attorney. 

According to the FCRA, you have protections, including how your credit information is collected, maintained, and used. Under the FCRA, you have the right to dispute any information you believe isn’t correct fully or partially. When something is being disputed, the company has the legal responsibility to thoroughly investigate within a certain window of time and report its findings. Then, the information has to be deleted or corrected on your credit report and elsewhere. 

An FCRA attorney can help manage the dispute process, which otherwise can be stressful and time-consuming. Also, even though they’re guided by the regulations of the FCRA, that doesn’t mean debt collection companies are always compliant. Having a legal representative can show a debt collector that you’re serious about protecting your rights. 

Disputing a Debt With Security Credit Services

Errors in your credit file can lead to collections companies contacting you. Mistakes on your credit are more common than you might think and can occur because:

• Personal information like your name or Social Security company is combined or mixed up with someone else’s.
• The original company you had an account with might have reported the wrong information, such as an incorrect balance, or your account could be marked as delinquent when it’s not.
• The account could be old but wrongly reported as new.
• You could be listed as an account holder, but you’re just an authorized user.
• You’re the victim of identity theft. 

Get Help from an FCRA Attorney

Unfortunately, dealing with Security Credit Services or having them follow through with a dispute investigation and delete wrong information isn’t always easy. If you find yourself in a challenging situation, contact Fair Credit. Our team of attorneys offers free case reviews to help you when dealing with a debt collector.