What Is CMRE Financial Services On My Credit Report?
CMRE Financial Services is a debt collection agency. If you are seeing them on your credit report, it likely means they have purchased your debt from a creditor and are (or will be) attempting to collect it from you.
Is CMRE Financial Services A Debt Collection Agency?
Yes, CMRE Financial Services is a debt collection agency. They buy debt from a number of different creditors that no longer wish to attempt to collect the amount themselves (also known as a "charge-off").
CMRE Financial Services may attempt to reach out via mail or phone calls (demanding payment). The worst part is a collections account will now be seen on your credit report. This hurts your score, as well as reducing your chances of getting approved for a loan or other important financial event.
But it’s not all bad news! We may be able to help you with this account. Call us today to find out more.
Who Does CMRE Financial Services Collect For?
CMRE Financial Services purchases debt from a range of different creditors. The information isn’t always publicly available and is constantly changing, so it’s difficult to provide an accurate and up-to-date list.
Does CMRE Financial Services Hurt My Credit Score?
Yes, it is highly likely having CMRE Financial Services on your credit report is damaging your score significantly.
Understanding the Impact of CMRE Financial Services on Your Credit Score
It's important to be aware of the impact that collection accounts from CMRE Financial Services can have on your credit score. According to FICO, payment history makes up 35% of your credit score, and a debt in collections can stay on your report for up to 7 years – even if it has been paid off. This negative mark can make it difficult to get approved for loans, credit cards, or even rent an apartment.
The exact impact will vary depending on factors such as the amount of debt, how long it has been in collections, and your overall credit history. That said, it's important to take action and get the collection account removed from your report as soon as possible in order to minimize any damage.
How to Handle Multiple Collection Accounts from CMRE Financial Services
If you have multiple collection accounts from CMRE Financial Services on your credit report, it can seem overwhelming and daunting to tackle them. Yet there are still steps you can take to address all of the debts and mitigate any potential harm to your credit score.
First, gather all of the necessary information – names and account numbers for each account. Then consider reaching out to CMRE Financial Services to negotiate a settlement or payment plan for all of the accounts.
You can also dispute the accounts if you think they're incorrect or fraudulent – this process can be complicated but Credit Sage is available to guide you and possibly get the accounts completely removed from your credit report.
How Do I Remove CMRE Financial Services From My Credit Report?
To be eligible to remove CMRE Financial Services from your credit report, you typically need to meet the following requirements:
- Any information on the account is incorrect
- Any information on the account is error’d
- Any information on the account is fraudulent
- And is not (or cannot be) fixed in an appropriate amount of time
According to a study by the U.S. PIRGs, 79% of credit reports contain mistakes or serious errors. Going after these types of accounts for our clients is our specialty.
Should I Pay For Delete With CMRE Financial Services?
Paying off CMRE Financial Services to have credit bureaus delete it from your report sounds like a good idea. There's one major problem. Paying a debt in collections changes your credit report status from 'unpaid' to 'paid', but the collection remains on your report for 7 years (from the date of first delinquency). This means your credit is still damaged.
Should I Negotiate A Settlement With CMRE Financial Services?
Settling your debt with CMRE Financial Services could go both ways. It may help your score, but it may also hurt your score. Many variables impact the end result. There is a better path to a good result. Work with a company that is able to review these accounts for you (like Credit Sage), and if any issues with the account exist you may have it removed all together (and never have to hear from them again).
Is CMRE Financial Services Legit, Fake Or A Scam?
CMRE Financial Services is a legitimate company. They aren’t fake or trying to scam you. But it is likely they are spam calling you trying to collect a debt. One of the best ways to deal with this is to dispute and remove unvalidated debts.
Why Do CMRE Financial Services Keep Calling Me?
CMRE Financial Services continues to call and attempt to collect a debt. The best thing you can do is ignore their calls and speak with a company that can help you get it removed (like Credit Sage).
How To Get CMRE Financial Services To Stop Calling Me?
As we’ve mentioned above, CMRE Financial Services will be calling you to attempt to collect a debt. The best thing you can do to stop this is speak with a company that can help you get them removed from your credit report, like Credit Sage. Once they are off your credit report, you won’t have to hear from them again.
CMRE Financial Services Reviews And Complaints
CMRE Financial Services has terrible BBB reviews. This may come from their repeated calls and letters to consumers trying to collect their debt.
Will CMRE Financial Services Try Suing Or Garnishing My Wages?
CMRE Financial Services suing would be a very unlikely situation. In rare cases it may happen, but it certainly isn’t the norm. State and federal laws place limits or 'exemptions' that apply to bank and wage garnishments.
We strongly recommend calling us, we’ll help determine the likelihood of a lawsuit, but also provide you next steps in getting this collection removed.
Does CMRE Financial Services Accept A Goodwill Letter To Remove My Collection/Charge-Off?
Based on our years of experience dealing with companies like this, CMRE Financial Services does not accept goodwill letters to remove collection accounts or charge offs.
What Are My Rights When Dealing With CMRE Financial Services?
You have the right to dispute any of your debt that CMRE Financial Services has purchased. CMRE Financial Services is governed by the Fair Debt Collection Practices Act (or FDCPA) and the Fair Credit Reporting Act (or FCRA). While these acts seem very complicated, they provide a great deal of power to the consumer if you know how to use it properly.
What Is CMRE Financial Services Phone Number?
You likely want to call Credit Sage before deciding whether or not to call CMRE Financial Services. The reason? You may not want to pay CMRE Financial Services debt, especially if it's inaccurate. Paying it off could hurt your score.
Get CMRE Financial Services Removed From Your Report, Today!
In most cases, we recommend speaking with a Credit Repair professional to analyze your credit report before you attempt to settle any debt. The main reason? Settling your debt may actually hurt your score.