800-466-5259 belongs to Mercantile Adjustment Bureau. They’re a debt collector reporting a collection account on your credit report.
This can mean 2 things:
The worst part is you now have a collections account on your credit report, which will be hurting your score. It also lowers your chances of being approved for credit (at least with good interest rates).
There are a number of ways you can go about this, but the easiest one (which we highly recommend), is to reach out to a company that specializes in dealing with debt collectors, such as Credit Sage.
Call us today on (855) 677-2127 and speak with one of our friendly collection specialists. They’ll review your credit report with you (for free), and walk you through your best options.
The best news? We’ve helped thousands of customers remove Mercantile Adjustment Bureau from their credit reports (without having to pay their debt). When Mercantile Adjustment Bureau is removed from your report:
In the event that you are uncertain about the debt that Mercantile Adjustment Bureau is contacting you regarding, there are precautions you can take to preserve your credit and financial status. A crucial step is to demand verification of the debt from Mercantile Adjustment Bureau. They are obligated by law to provide details about the debt, such as the original creditor's name and the amount owed. If they cannot furnish this information, you may have grounds for challenging the debt.
If the debt appears on your credit report, you can also challenge it with the credit reporting agencies. Ensure that you attach any documentation or proof to corroborate your dispute. Additionally, it's essential to guard yourself against identity theft and fraudulent debts by regularly monitoring your credit report and being wary of divulging personal information.
Scammers who impersonate debt collectors can pose a significant threat to your financial well-being. To safeguard yourself, it's crucial to be mindful of warning signs that a debt collector may be a scammer, such as insisting on payment via wire transfer or prepaid debit card, or refusing to disclose information about the debt.
If you receive a call from a debt collector and are uncertain about their authenticity, you can validate their identity by asking for their name, company name, and contact information and conducting online research. Moreover, you can confirm whether the original creditor has authorized a debt collector to collect on their behalf.
Additionally, it's vital to protect your personal information from scammers by being cautious about sharing it - particularly over the phone or online. If you suspect that you have been targeted by a debt collection scam, you can report it to the Federal Trade Commission and your state attorney general's office.
Speak with a live credit specialist for your free consultation, now