Main Street Acquisition Debt Collection Hurts Credit Report

Is Main Street Acquisition debt collection shown on your credit report? This New York debt buyer purchases old credit card accounts from banks, and then its lawyer tries to collect the account balances from consumers in Brooklyn & Queens.

One tactic Main Street Acquisition debt collection may use is reporting the account as a negative trade line on your credit report maintained by Experian, Equifax and TransUnion. This can prevent you from obtaining a loan or affordable housing. Any financing you are able to obtain may have a lower credit limit and be subject to higher interest rates and annual fees.

Perhaps even worse, negative credit reporting may pressure you to settle a debt you don’t even owe.

If a Main Street Acquisition debt collector has abused you in this way, call our New York City debt defense lawyer for a free consultation today.

Main Street Acquisition Debt Collection Defense Lawyer

We are experienced reviewing account documentation to determine whether the collection agency has a valid claim against you. Often times a debt buyer does not obtain a valid assignment from the original creditor. Further, even when they do have a valid assignment of debt, debt buyer’s often lack the account records to prove the account balance and contractual terms.

When Main Street Acquisition debt collection violates the law in this way, they may be required to pay you a statutory penalty up to $1,000.

However, failure to respond to Main Street Acquisition debt collection notices could result in entry of a default judgment against you in court. In this event, you may end up shocked by enforcement of a money judgment against you.

A Main Street Acquisition debt collection wage garnishment makes your debt even more expensive, as the NYC Marshal’s fee will be added to the judgment amount, along with interest and other administrative expenses.

Be proactive and get on a path to financial recovery with us. Let us respond to Main Street Acquisition debt collection agency on your behalf. Call us today.

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