Pinnacle Credit Services Review
Zenia
In some cases this means they purchased the debt from the original creditor (i.e. a credit card or loan company). Usually this means they paid pennies on the dollar, sometimes 1/10th of the original cost, to buy this debt. In other cases they may not own the debt themselves, instead being paid to collect on behalf of another company.
They may attempt to communicate with you via mail or phone calls (demanding payment). Even worse, a collections account now appears on your credit report. This hurts your score (and chances) to get approved for a loan or other important financial event.
Removing Pinnacle Credit Services from your credit report may be possible if any information on the account is incorrect, error'd, or fraudulent, and is not (or cannot be) fixed in an appropriate amount of time. According to a study by the U.S. PIRGs, 79% of credit reports contain mistakes or serious errors. We specialize in going after these types of accounts for our clients.
Pinnacle Credit Services is a debt collection agency. They buy debt from a number of different creditors that have given up on trying to collect the amount themselves (sometimes referred to as a "charge-off").
Paying off Pinnacle Credit Services to have credit bureaus delete it from your report seems ideal. There's one problem. Paying a debt in collections changes your credit report status from 'unpaid' to 'paid'. The result? Your collections still appears on your report for 7 years (from the date of first delinquency). This means your credit is still affected.
Settling your debt with Pinnacle Credit Services may help your score, but it may also hurt your score. The answer depends on many variables. You may also not have to pay at all, and if any issues with the account exist you may have it removed all together (and never have to hear from them again).
It's very unlikely that Pinnacle Credit Services decides to sue. In rare cases it may happen, but it is not the norm. State and federal laws have limits or 'exemptions' that apply to bank and wage garnishments. We strongly recommend giving us a call to determine the likelihood of a lawsuit, but also steps you can take to get this collection removed.
Pinnacle Credit Services collects for a variety of lending companies (called creditors). These are constantly changing, and typically collection agencies, including Pinnacle Credit Services, do not share publicly who they buy from.
You have the right to dispute any debt of yours that Pinnacle Credit Services is trying to collect. Pinnacle Credit Services is governed by the Fair Debt Collection Practices Act (or FDCPA) and the Fair Credit Reporting Act (or FCRA). While these acts seem very complicated, they provide a great deal of power to you if you know how to use it.
However, we strongly recommend giving a Credit Repair company (like us), a call first. We'll review why Pinnacle Credit Services is on your report and see how we might be able to dispute (and potentially remove) them.
In some cases, we recommend speaking with a Credit Repair professional to analyze your credit report. It's so much less stress, hassle, and time to let professionals identify the reasons for your score drop.If you're looking for a reputable company to help you remove credit errors, give us a call.
I recently checked my credit score and saw that I have been in collections for over more than a year now from Pinnacle Credit Service LLC. I received maybe 2 letters in the past that stated I owed $300 for a verizon bill that was never paid but when I called the number on the first letter no one picked up. When I searched for the company I saw many people claming that this company is a fruad and that they are often tied to Verizon. So I ignored the letter thinking it was a scam. When the 2nd letter came it asked to settle for a payment of $150, when I called the number on this letter the person on the other end seemed highly unprofessional, asked for my SS# off the bat and would not give me any validation of any type. I ended up hanging up and forgetting about it. The past few month, I've received several calls at odd times of the day, If I ignore them they call back to back but never leave voicemails. When I call the number back it says that the phone is disconnected. I've picked up a few times and they've said the same thing in a highly unprofessional manner. They ask me to pay a debt but could not release who or what the debt was for, just that it was in collection. This whole time I thought it was a scam because of all these reports on this company and now I've found out that this debt has ruined my credit score which I need to be higher because I am trying to get decent auto loan.
I know for a fact that I do not owe this debt. I got rid of my Verizon phone line in 2008 by letting someone else take over it. That is the only way verizon will let you cancel your line with out having to pay a cancellation fee. I no longer have the paper work that confirmed when I transfered the line to someone else. But in order to transfer the line under someones name your balance must be cleared. So I called Verizon to ask to receive a copy of the last payment cycles for my account and to see if they could provide me with the documents from transferring the line over. Unfortunately, Verizon could not provide me with any information at all because the debt had been sold to Pinnacle. The only proof that I have is an email confirmation of the last payment which was for $385.64. We paid this bill to clear our balance and transfer the phone over to someone else. I also have proof that I was selling the phones (provided the accounts be transfered) through craigslist.
WOW! I cannot believe how similar this is to what I am going through! 2010 I had a wireless card. Got rid of it when I got a new computer. I closed the account and even donated the wireless card. Now Pinnacle is holding up my home sale because they will not delete the account even though it is not a valid account. Verizon claims that they can't do anything even though it is Verizon who sold a bad debt and is now injuring my credit! I am sitting at my desk now and have been on hold for 38 mins with Pinnacle since the collection company believed my story and back up and sent Pinnacle a letter asking them to remove the debt. We need to get Verizon to do it too - they are the ones who made the mistake and they should not just get to shrug and say "sorry".
They are a complete scam. They continue to report on credit reports because they are outsourced from another debt collector. I have gone through circles trying to track down who was actually reporting it. Good luck.
DV = debt validation letter. You do that to make them offer proof the debt is indeed yours and they are correct in reporting it on your credit reports. If they can't validate the debt, you can dispute it and have it removed from your reports. Just search for debt validation letters and the process involved.
In a nutshell, a DV must be sent within 30 days of dunning notice to be timely. A timely DV invokes a cease collection bar on the debt collector, requiring that they cease further collection on the debt until they first validate, They can choose not to respond, provided they do not continue active collection activities.
As this thread is from 2012 and the OP has never returned to update it after the initial post it is now locked to further comments. A new thread can be started on the subject should someone desire to do so.
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Pinnacle Credit Services Verizon is a debt collection agency. If you are seeing them on your credit report, it likely means they have purchased your debt from a creditor and are (or will be) attempting to collect it from you.
Yes, Pinnacle Credit Services Verizon is a debt collection agency. They buy debt from a number of different creditors that no longer wish to attempt to collect the amount themselves (also known as a "charge-off").
Pinnacle Credit Services Verizon may attempt to reach out via mail or phone calls (demanding payment). The worst part is a collections account will now be seen on your credit report. This hurts your score, as well as reducing your chances of getting approved for a loan or other important financial event.
Pinnacle Credit Services Verizon can have a huge influence on your credit score since it suggests that you're in debt and this has been sent to collections. This will appear as a negative item on your credit report, dragging down your score. The magnitude of the damage depends on the age of the debt, how much is owed, and your overall credit history. If left unpaid and present on your file for an extended period, it could make a big dent in your score. But there's no need to worry - with help from a credit repair service such as Credit Sage, you can improve your credit score by finding and challenging any mistakes or discrepancies mentioned in the report.
Paying off Pinnacle Credit Services Verizon to have credit bureaus delete it from your report sounds like a good idea. There's one major problem. Paying a debt in collections changes your credit report status from 'unpaid' to 'paid', but the collection remains on your report for 7 years (from the date of first delinquency). This means your credit is still damaged.
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