Who is Capital Management Services, LP?
Capital Management Services, LP (CMS) is a third-party debt collection agency based in Buffalo, New York. Their business involves collecting debts on behalf of other entities.
If you see CMS listed on your credit report, it generally means they have been assigned or have purchased a debt that you allegedly owe. This usually occurs when you’ve defaulted on a payment, and the original creditor has transferred or sold the debt to a collection agency like CMS for recovery.
Who does Capital Management Services collect for?
Capital Management Services primarily focuses on collecting defaulted credit card debt and student loans. They work on behalf of major financial institutions such as Capital One, Citibank, Discover Bank, among others.
Is Capital Management Services legit or a scam?
Despite their persistent and sometimes aggressive communication methods, Capital Management Services is a legitimate company. They operate within the guidelines set by federal laws. Their methods of communication may involve repeated phone calls, texts, or emails, which can be perceived as spam or even harassment.
How can I remove Capital Management Services from my credit report?
Collection accounts can impact your credit score for up to seven years, so it’s essential to address them promptly. To remove collections from your report, start by disputing any errors related to the account with the credit bureaus.
If the information is accurate, consider negotiating a “pay-for-delete” agreement, where you offer payment in exchange for the account’s removal. Another option is to work with a credit repair service that specializes in challenging collections.
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Capital Management Services, LP (CMS) Contact Information
Address:
Capital Management Services
698 1/2 S Ogden St.
Buffalo, NY 14206
Phone number: (716) 871-9050 or (800) 457-8220
Should I contact or pay Capital Management Services?
Before contacting a debt collector, verify that the debt is legitimate and accurately reported. Credit reports can contain errors or list debts that are no longer valid. Also, be aware that making payments on a debt can reset the clock and potentially harm your credit.
The most effective way to deal with Capital Management Services is to work with a credit repair professional. They help remove millions of negative items every year from companies like Capital Management Services, L.P. on behalf of their clients.
Will Capital Management Services sue me or garnish my wages?
It’s possible for a debt collection agency like Capital Management Services to sue for unpaid debts, but taking legal action is generally considered a last resort due to the time and cost involved. If they choose to sue and they win a judgment against you, they could potentially garnish your wages, depending on the laws in your state.
Capital Management Services, LP Complaints
Many collection agencies have numerous complaints filed with the Consumer Financial Protection Bureau (CFPB) and the Better Business Bureau (BBB). Most complaints are about inaccurate reporting, harassment, or failure to verify a debt. If you are being harassed, consider filing a complaint.
You have many consumer rights under the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA). These rights include disputing credit reporting errors and being treated fairly and respectfully by debt collectors.
Your Rights When Dealing with Capital Management Services
Debt collectors must follow state and federal laws. The Fair Debt Collection Practices Act (FDCPA) prohibits abusive, unfair, or deceptive practices and ensures your rights are protected:
- It is a violation of federal law for Capital Management Services to report inaccurate or incomplete information about you.
- You have a legal right to request debt validation on an alleged debt. Send the collection agency a debt validation letter. They have 30 days to prove the debt is yours and the amount is accurate.
- Capital Management Services cannot threaten or harass you, call repeatedly, swear at you, or publicly publish a list of debtors.
- Capital Management Services must be honest about who they are and their purpose. They must notify you in writing and verbally that they are a debt collection agency.
- Capital Management Services cannot threaten to have you arrested or imprisoned for unpaid debts.
Remove Capital Management Services From Your Credit Report Today!
Credit Saint offers assistance with disputing Capital Management Services accounts. With over 15 years of experience, they have worked with clients to address incorrect entries on credit reports.
If managing collection accounts feels overwhelming, working with a trusted credit repair company could be a helpful step toward improving your credit.
Visit their website or call (855) 281-1510 for more details.
