Who is Credit Adjustment Board?
Credit Adjustment Board, Inc. (CAB) is a licensed and bonded debt collection agency that was founded in 1955. Based out of Richmond, Virginia, CAB provides collection services to various businesses, helping them recover unpaid debts.
You may see CAB listed on your credit report as a collections account. This can happen if you didn’t pay a bill.
Who does Credit Adjustment Board collect for?
Credit Adjustment Board services a wide array of clients across different industries. These include commercial and industrial businesses, gas, oil & HVAC companies, government bodies, healthcare institutions, property management entities, and transportation companies.
Is Credit Adjustment Board legit or a scam?
Credit Adjustment Board, Inc. is a legitimate company. They are authorized to collect debts on behalf of their clients. However, it’s important to verify any debts they claim you owe before making any payments.
How can I remove Credit Adjustment Board 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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Credit Adjustment Board (CAB) Contact Information
Address:
Credit Adjustment Board, Inc.
8002 Discovery Drive Ste 311
Richmond, VA 23229
Phone number: (804) 649-0761 or (800) 882-0761
Should I contact or pay Credit Adjustment Board?
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 Credit reports can contain errors or list debts that are no longer valid.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 Credit Adjustment Board is to work with a credit repair professional. They help remove millions of negative items every year from companies like Credit Adjustment Board on behalf of their clients.
Will Credit Adjustment Board sue me or garnish my wages?
Credit Adjustment Board, like any other collection agency, is entitled to sue you to collect the debt. However, the decision to sue often depends on the amount of the debt and the perceived ability of the debtor to pay. It’s not typically the first step or even a common step, as litigation is often costly and time-consuming.
If Credit Adjustment Board does sue you and wins a judgment against you in court, they may be able to garnish your wages or place a lien on your property, depending on the laws of your state. Keep in mind that this is typically a last resort and usually occurs after several attempts to collect the debt in other ways.
Credit Adjustment Board Complaints
Many collection agencies have numerous complaints filed with the Consumer Financial Protection Bureau (CFPB) and the Better Business Bureau (BBB). Most consumer complaints are about inaccurate reporting, harassment, or failure to verify a debt. If you are being harassed by Credit Adjustment Board, you should also 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 Credit Adjustment Board
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 Credit Adjustment Board 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.
- Credit Adjustment Board cannot threaten or harass you, call repeatedly, swear at you, or publicly publish a list of debtors.
- Credit Adjustment Board 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.
- Credit Adjustment Board cannot threaten to have you arrested or imprisoned for unpaid debts.
Remove Credit Adjustment Board From Your Credit Report Today!
Credit Saint offers assistance with disputing Credit Adjustment Board 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.
