What Is Orion Portfolio Services On My Credit Report?
Orion Portfolio 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 Orion Portfolio Services A Debt Collection Agency?
Yes, Orion Portfolio 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").
Orion Portfolio 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 Orion Portfolio Services Collect For?
Orion Portfolio 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 Orion Portfolio Services Hurt My Credit Score?
Yes, it is highly likely having Orion Portfolio Services on your credit report is damaging your score significantly.
How to Avoid Orion Portfolio Services
If you want to keep away from debt collectors such as Orion Portfolio Services, the best thing to do is be proactive about your debts. If you're having trouble making payments, don't ignore the situation - reach out to your creditor and explain it. They may be able to work out a payment plan or offer a hardship program that will help you get back on track.
Additionally, monitoring your credit report regularly can go a long way in helping you avoid debt collectors by catching any missed payments or errors before they become an issue. This way, you can take action before your account is sent to a debt collector.
Understanding the Impact of Orion Portfolio Services on Your Credit Score
Having Orion Portfolio Services on your credit report can have a negative impact, but the degree of damage depends on your overall credit history. For example, those with higher scores and more credit history may not be affected as severely as someone who has a lower score and less credit history.
However, it's still important to try and remove any collections accounts from your credit report - this can be done with the help of a professional credit repair company such as Credit Sage. By disputing errors or inaccuracies on your report, you can help improve your credit score and increase your chances of being approved for loans and other important financial decisions.
How Do I Remove Orion Portfolio Services From My Credit Report?
To be eligible to remove Orion Portfolio 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 Orion Portfolio Services?
Paying off Orion Portfolio 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 Orion Portfolio Services?
Settling your debt with Orion Portfolio 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 Orion Portfolio Services Legit, Fake Or A Scam?
Orion Portfolio 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 Orion Portfolio Services Keep Calling Me?
Orion Portfolio 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 Orion Portfolio Services To Stop Calling Me?
As we’ve mentioned above, Orion Portfolio 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.
Orion Portfolio Services Reviews And Complaints
Orion Portfolio Services has terrible BBB reviews. This may come from their repeated calls and letters to consumers trying to collect their debt.
Will Orion Portfolio Services Try Suing Or Garnishing My Wages?
Orion Portfolio 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 Orion Portfolio Services Accept A Goodwill Letter To Remove My Collection/Charge-Off?
Based on our years of experience dealing with companies like this, Orion Portfolio Services does not accept goodwill letters to remove collection accounts or charge offs.
What Are My Rights When Dealing With Orion Portfolio Services?
You have the right to dispute any of your debt that Orion Portfolio Services has purchased. Orion Portfolio 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 Orion Portfolio Services Phone Number?
You likely want to call Credit Sage before deciding whether or not to call Orion Portfolio Services. The reason? You may not want to pay Orion Portfolio Services debt, especially if it's inaccurate. Paying it off could hurt your score.
Get Orion Portfolio 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.