Who is Ford Credit?
Ford Motor Credit Company LLC, more commonly known as Ford Credit, is a crucial component of the Ford Motor Company’s operations. Founded in 1959, it serves as the automotive financial services arm of the company. Their primary business lies in providing retail auto financing for customers buying Ford vehicles, and dealer financing to Ford dealerships who require capital for inventory.
Their headquarters are located in Dearborn, Michigan, right alongside the Ford Motor Company’s main offices. Ford Credit operates globally, supporting Ford sales in countries around the world.
If Ford Credit appears on your credit report as a collections account, it generally means that you’ve had a financial agreement with them—most likely a car loan or a lease—that you’ve failed to keep up with.
How can I remove Ford Credit Collections from my credit report?
Ford Credit collections can hurt your credit score and remain on your credit report for up to seven years regardless of whether you pay it or not. Unfortunately, paying the collection could even lower your credit score.
However, it is possible to remove a collection account from your credit history before seven years.
(While debt collectors may not want this information to be widely known, it’s your right to be informed.)
Ready to Raise Your Credit Score?
Learn how credit repair professionals can assist you in disputing inaccuracies on your credit report.
Professional credit repair services work with people who want to get their credit back on track.
In addition to collections, they can help you to challenge other inaccurate, unfair, or unsubstantiated information on your credit report. These items include inquiries, late payments, charge-offs, foreclosures, repossessions, bankruptcies, and more.
Get started on the path to better credit today: Fill out the form for a free credit consultation.
Ford Motor Credit Company Contact Information
Ford Motor Company
1 American Rd
Dearborn, MI 48126
Phone number: (800) 727-7000
Should I contact or pay Ford Credit?
It’s best to avoid speaking to a collection agency on the phone. And making payments on the debt will reset the clock. As a result, it could harm your credit rather than improve it. However, sometimes it’s better just to pay the collection account, especially if it’s new, and you’re certain that it’s legit.
The most effective way to deal with Ford Credit Collections is to work with a credit repair professional. They help remove millions of negative items every year from companies like Ford Credit on behalf of their clients.
Will Ford Credit sue me or garnish my wages?
Ford Credit is entitled to take various actions to recover unpaid debts. If you default on your payments for an auto loan, lease, or any other credit product offered by Ford Credit, the company can initiate a repossession of the vehicle. This is usually the first step they take when the borrower defaults, as it directly involves the collateral tied to the loan.
However, if the money received from selling the repossessed vehicle is not sufficient to cover the outstanding debt, Ford Credit can take further actions. These may include suing the borrower for the remaining balance, also known as a deficiency balance.
If they are successful in their lawsuit and obtain a judgment against you, they could potentially garnish your wages or levy your bank account, depending on the laws in your state.
Ford Credit Complaints
Most collection agencies have numerous complaints filed against them 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 a debt collector is harassing you, you may want to 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 the ability to dispute credit reporting errors and to be treated fairly and respectfully by debt collectors.
Your Rights When Dealing with Ford Credit Collections
Debt collectors must abide by state and federal laws in the United States. For example, the Fair Debt Collection Practices Act prohibits a debt collector from using abusive, unfair, or deceptive practices. In addition, the FDCPA provides you with many rights to ensure that collection agencies don’t take advantage of you. In particular:
- It is a violation of federal law for Ford Credit Collections 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. By law, they have 30 days to prove to you that the debt is really yours and the total amount is accurate.
- Ford Credit Collections may not threaten or harass you, call you repeatedly, swear at you, or publicly publish a list of debtors.
- Ford Credit Collections must be honest about who they are and what they are attempting to do. They must notify you that they are a debt collection agency both orally and in writing.
- Ford Credit Collections cannot threaten to have you arrested or imprisoned over unpaid debts.
Remove Ford Credit Collections From Your Credit Report Today!
Credit Saint can assist you in disputing Ford Credit accounts. With years of experience at their disposal, these professionals have a proven track record of effectively removing incorrect entries for countless clients.
If you’re tired of dealing with debt collectors and want to improve your credit, consider working with a trusted credit repair company.
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- Credence Resource Management
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- Diversified Consultants
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- Enhanced Recovery Company
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- Global Credit and Collection Corp
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- Hunter Warfield
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- Jefferson Capital Systems
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- Midland Credit Management
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- MRS Associates
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