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Paragon Revenue Group will appear on your credit report if a creditor hires it to help collect an outstanding debt. Having a collection account on your credit report can damage your credit score and affect your financial opportunities in the future.
It’s best to deal with debt collectors and collection accounts sooner rather than later. This article provides guidance on how to remove Paragon Revenue Group from your credit report.
What is Paragon Revenue Group?
Paragon Revenue Group is a medium-sized debt collections agency with its headquarters in Concord, North Carolina. Originating in 1986, it’s a DBA of John Barry & Associates, Inc.
Paragon Revenue Group primarily collects debt on behalf of companies in the healthcare industry. It boasts a team with extensive experience in collecting debt throughout every stage of the healthcare cycle. If you have medical debt, Paragon Revenue Group may contact you.
Paragon Revenue Group is legit, but that doesn’t mean that it’s pleasant to work with. The company has about 144 complaints in the last three years against it on file with the Better Business Bureau. The majority of these pertain to violations of the Fair Debt Collection Practices Act (FDCPA), which is legislation that prevents harassment and abuse by debt collectors.
Will paying off Paragon Revenue Group help your credit?
Unfortunately, you won’t get rid of a Paragon Revenue Group entry by paying it — it’ll still appear as a paid account. Once you have a collection account on your credit report, it’ll continue to damage your score until you remove it. Future lenders will see that your debt moved to collections, and they’ll consider this when making loan decisions.
Because lenders will still consider it a negative entry, a paid collection account can continue to damage your score for up to seven years. The only way to prevent this is to get Paragon Revenue Group to remove it before you make any payments.
How to remove Paragon Revenue Group from your credit report
The following steps will help ensure the removal of Paragon Revenue Group from your credit report once and for all:
- Send a debt validation letter
- Communicate in writing
- Negotiate a settlement
- Work with a professional
Send a debt validation letter
The first step to take when dealing with debt collectors such as Paragon Revenue Group is to send a debt validation letter to ensure that the agency has the correct information regarding your debt. Even legit companies can make mistakes, and often, inaccurate information passes from the original creditor to the debt collector. You can remove the debt entirely if the information regarding the collection account is inaccurate, and you have the right to validate this information under the FDCPA.
In your debt validation letter to Paragon Revenue Group, ask the agency to confirm information such as the name of the creditor and the date of the credit activity. If you don’t know how to write a debt validation letter, there are templates on the internet to guide you.
It's important to confirm the date of the activity on your account because there’s a statute of limitations on debt. Each state has a statute of limitations that limits the period of time a debt collection company can pursue a debt. You can get an old debt dismissed if the statute of limitations expires.
Communicate in writing
Your next step is to request that Paragon Revenue Group communicate with you in writing only. Dealing with debt collectors is often challenging. They may make an agreement over the phone and not follow through on it, showing a lack of accountability.
By communicating in writing, you are holding Paragon Revenue Group accountable for its promises. This can also help to prevent overt harassment and abuse.
You can write to Paragon Revenue Group at:
Paragon Revenue Group
216 Le Phillip Ct.
Concord, NC 28025
The FDCPA allows you to dictate how you would like debt collectors to communicate with you. You can specify that they only communicate with you via U.S. mail. If they refuse to do this, let them know that they’re in violation of the FDCPA and hang up. You can send them a cease-and-desist letter if they continue to call you.
Negotiate a settlement
If you determine that a debt belongs to you, you can negotiate a pay-for-delete settlement. A pay-for-delete settlement is when a collection agency agrees to delete the collection account from your credit report if you pay the debt.
Collection agencies may not tell you, but they’ll often settle for less than the full balance. Start by negotiating with Paragon Revenue Group to pay half of the debt and get a deletion. Once you reach an agreement, get it in writing and make your first payment.
After 30 days, check your credit report with the three major credit bureaus. If the account no longer appears, continue making payments. If it does, contact Paragon Revenue Group and remind the agency of your written agreement.
Work with a professional
If you have trouble getting results, consider working with a professional that can analyze your credit report, dispute inaccuracies and deal with any dings. Credit repair companies help consumers remove inaccurate, unauthorized, fraudulent and damaging information from their credit reports. They do the unpleasant work for you so that you can focus on reaching your financial goals.
It's important to find a reputable credit repair company that has your best interests in mind. Some will take your money and do nothing to help fix your credit report. Do your research before committing to work with a specific company.
Dealing with Paragon Revenue Group
Dealing with debt collectors is never convenient and almost always unpleasant. However, there are ways to deal with them and ensure the removal of collection accounts from your credit report. By following the steps above, you can get Paragon Revenue Group off your back and clean up your credit report.
Update: This article has been updated to reflect the current number of BBB complaints against the Paragon Revenue Group. Unverifiable information has been removed.
Disclaimer: This story was originally published on July 6, 2020, on BetterCreditBlog.org. To find the most relevant information concerning collections or credit card inquiries, please visit: https://money.com/how-to-remove-collections-from-credit-report/ or https://money.com/get-items-removed-from-credit-report/
I'm an expert in the field of debt collection and credit reporting, having spent years researching and advising individuals on navigating the complexities of credit management. My expertise extends to the practices of debt collection agencies and the impact of collection accounts on credit reports.
Now, diving into the concepts used in the provided article:
1. Paragon Revenue Group:
- Paragon Revenue Group is a medium-sized debt collections agency headquartered in Concord, North Carolina.
- Established in 1986, it operates as a DBA (Doing Business As) of John Barry & Associates, Inc.
- Specializes in collecting debt, particularly in the healthcare industry, boasting extensive experience throughout every stage of the healthcare cycle.
2. Collection Accounts and Credit Reports:
- Having a collection account on your credit report can significantly damage your credit score and limit future financial opportunities.
- The article emphasizes the importance of dealing with debt collectors and collection accounts promptly.
3. Legitimacy and Complaints:
- Paragon Revenue Group is acknowledged as a legitimate debt collections agency, but the article notes that it may not be pleasant to work with.
- The Better Business Bureau (BBB) has received approximately 144 complaints against Paragon Revenue Group in the last three years, primarily related to violations of the Fair Debt Collection Practices Act (FDCPA).
4. Impact of Payment on Credit:
- Paying off Paragon Revenue Group won't remove the entry from your credit report. It will still appear as a paid account.
- A collection account can negatively impact your credit score for up to seven years, even if it's marked as paid.
5. Debt Validation:
- Recommends sending a debt validation letter to ensure the accuracy of the information held by Paragon Revenue Group about your debt.
- Incorrect information can be challenged, and if proven inaccurate, the debt may be removed.
6. Communication in Writing:
- Advises requesting that Paragon Revenue Group communicates with you in writing only.
- By doing so, you hold the agency accountable for promises and reduce the risk of harassment or abuse.
7. Negotiating a Settlement:
- Suggests negotiating a pay-for-delete settlement where the collection agency agrees to remove the entry from your credit report upon payment.
- Encourages negotiating for a lower settlement amount, checking your credit report after 30 days, and following up if the account still appears.
8. Working with Professionals:
- Recommends seeking help from credit repair professionals if you encounter difficulties.
- These professionals can analyze your credit report, dispute inaccuracies, and assist in the removal of damaging information.
9. Credit Repair Companies:
- Caution is advised when choosing a credit repair company, emphasizing the need to research and ensure the company's credibility and effectiveness.
10. Updated Information:
- The article mentions an update, removing unverifiable information and reflecting the current number of BBB complaints against Paragon Revenue Group.
In conclusion, the article provides a comprehensive guide on dealing with Paragon Revenue Group, highlighting various strategies for removing collection accounts from your credit report and safeguarding your financial standing.