Pendrick Capital Partners is a debt collection agency that purchases old medical debt and attempts to collect it, violating federal regulations such as FDCPA and FCRA.
People file complaints against them for reporting inaccurate information to credit bureaus, calling at unreasonable hours, and refusing to validate debts. There are steps you can take to stop their harassment of you.
What is a Debt Buyer?
Debt buyers are companies that purchase delinquent debts from other organizations, such as credit card providers or utilities. Once purchased, debt buyers then attempt to collect payment from borrowers with interest; debt buyers may also buy debts already accumulated from creditors or collectors for pennies on the dollar and often work together with other debt collection services to maximize profits and their profits.
Pendrick Capital Partners LLC, or PCP, is a debt collection agency specializing in healthcare-related debt. They have received multiple complaints from consumers for harassment and violating the Fair Debt Collection Practices Act (FDCPA).
Consumers receiving collection calls from Pendrick Capital Partners or another debt buyer should know their rights when responding. Debt collectors must present evidence of debt before approaching consumers and clearly state why they are trying to collect on an alleged debt; additionally, they must disclose their name, address, and phone number before doing so.
Debt collectors are forbidden from using intimidating or abusive language when communicating with consumers, so if debt collectors are harassing you, you must seek advice from an experienced credit repair professional immediately.
A strong credit score can open doors of financial opportunity, including lower loan rates and faster approval on mortgages and auto loans. Improving your score could save money on utility bills, security deposit charges on apartments, and more.
Credit Saint is dedicated to helping its clients fight false information on their reports, such as collection accounts from companies like Pendrick Capital Partners. Although debt may never completely disappear from a credit report, their services can assist you in disputing incorrect entries. Credit Saint has successfully removed thousands of negative items for our clients, such as collection accounts from Pendrick Capital Partners. So they know what they’re doing when disputing incorrect entries on them!
If a collection account appears on your credit report, you must understand its impact and what options exist to resolve it. Depending on the nature of the debt, contacting a credit counselor or attorney might prove helpful in helping find solutions.
What are my rights as a consumer?
Pendrick Capital Partners LLC (PCP), more commonly known by its acronym. PCP purchases old medical debt from credit card companies and lenders for a fraction of what’s owed, then uses coercive tactics to pressure consumers into paying the total balance. PCP has received several complaints regarding their practices, including attempts at collecting debts that don’t belong to them, failing to verify debt, and reporting inaccurate data to credit bureaus.
As a consumer, you have several rights that protect you from debt collectors like Pendrick Capital Partners. If a collector violates your rights, file a complaint with the Consumer Financial Protection Bureau or seek legal advice immediately – in addition to disputing inaccurate items on your credit report and from previous credit checks. A good credit score offers numerous advantages, such as lower insurance premiums, faster loan approvals, reduced security deposit charges on apartments or utilities, and better bargaining power when applying for mortgages and auto loans.
Your right as a consumer includes the right to request a Debt Validation Letter from debt collectors, which forces them to prove the debt they’re trying to collect from you is correct and belongs to you. If there is no response within 30 days, debt collectors must cease contact and remove the item from your credit report – read more about your consumer rights by viewing the Consumer Bill of Rights.
If Pendrick Capital Partners files suit against you, you must respond within your state’s deadlines or risk losing the case automatically. With SoloSuit’s easy DIY tool, drafting and filing an Answer in minutes gives you the best chance at beating this debt collection agency in court. Simply follow its step-by-step instructions. For maximum effectiveness in winning against them, attempt disputing each claim listed in their Complaint as soon as it arrives – this increases the odds significantly of your victory!
Can a Debt Buyer Sue Me?
No matter who is being sued over their debts, third-party collection agencies like Pendrick Capital Partners cannot legally pursue them without proof. To protect yourself from being sued by third parties like Pendrick Capital Partners or their competitors like Debt Buyers USA LLC (Debt Buyback Companies USA LLC or other debt buyers), work with an established credit repair company specializing in helping consumers dispute negative items on their reports. These professionals help remove millions of false negative things every year!
Pendrick Capital Partners collects debt for clients, including medical and financial institutions. A majority of their portfolio consists of healthcare-related debt. If a collection account from Pendrick Capital Partners appears in your credit report, chances are good because they purchased aged accounts receivable from healthcare providers.
Recently, debt buying has become a widely popular industry among financial firms, and debt buyers have made substantial investments in it. Debt buyers purchase consumer debt at a discount before trying to collect it from consumers themselves.
The Fair Debt Collections Practices Act and the Fair Credit Reporting Act both govern how debt collectors behave when seeking to collect a debt on behalf of their clients. Under these laws, debt collectors are prohibited from engaging in abusive or threatening language, harassing consumers, failing to respond promptly when asked for verification purposes, or reporting inaccurate data back to credit bureaus.
Complaints against Pendrick Capital Partners often allege violations of applicable laws and the company’s failure to address them. According to PACER (the federal court’s public database), Pendrick has been sued over 100 times in the past three years for debt-related matters.
In one case, the company was accused of failing to validate an alleged debt from hospital bills for the treatment of one of their consumers’ daughters.
Debt buyers who violate FDCPA or FCRA can face severe fines and lawsuits; consumers must know how to defend against collection agency activities that breach this legislation.
Will a Debt Buyer Lower My Credit Score?
Pendrick Capital Partners purchases debts from credit providers, medical facilities, and personal loan lenders at a fraction of what is owed for a fraction of what the amount owed would generally cost them – then aggressively pursues full payment from consumers in an attempt to collect. Unfortunately, this company’s aggressive collection tactics can harm a consumer’s credit score and finances. In addition to this debt collection practice, Pendrick has been accused of falsely reporting new account activity, such as payment delinquency or changes in account opening/last paid dates, when reporting inaccurately reported recent account activity to credit reporting agencies. This practice may lead to your mortgage/car loan application being denied.
Debt collectors must abide by stringent rules when collecting an account. They cannot contact you at unreasonable hours, such as before 8 am or after 9 pm; use abusive or threatening language when speaking with you; nor be unidentified as debt collection agencies both orally and written notice must be provided of this fact.
Debt in collections may remain on your credit report for up to seven years after being charged off as a loss by its original lender or creditor, even if the actual lender or creditor has taken steps such as charging off your debt as a loss. But if the debt is legitimate and within the statute of limitation for collection, you can have it removed by disputing with credit reporting agencies such as Experian. Xpert Credit Repair provides professional credit repair services that specialize in denying negative items on reports that may include incorrect, unverifiable, unauthorized, or fraudulent items from being reported negatively to credit bureaus – making reports more accurate by eliminating inaccurate, unverifiable items from appearing.
Pendrick Capital Partners is an expansive debt-buying and collecting company with over 55 million accounts under their purview, including healthcare receivables from emergency rooms, ambulance companies, and hospitals. Their management team boasts more than 100 years of experience managing healthcare receivables. Based in Dallas, Texas, with offices throughout America, they are privately backed with approximately $2 billion AUM, holding roughly $900 Million in debt sold since 2010! Known to purchase large portfolios of aged accounts from healthcare organizations to sell them later for profit.
