Pendrick Capital Partners on Your Credit Report: What to Know

If Pendrick Capital Partners (PCP) has appeared on your credit report, they are a medical debt buyer, not a traditional collection agency. Pendrick purchases portfolios of healthcare debt and then places accounts through affiliated collection agencies rather than collecting directly.

America’s Consumer Lawyer explicitly confirms Pendrick does not sue consumers. Their own hospital client testimonials state their “policy of not litigating against our patients” was an important factor in choosing them.

In April 2025, Pendrick sold $30 billion of qualifying medical debt to Undue Medical Debt, a nonprofit that erases balances for eligible consumers. This guide covers who Pendrick is, what makes them distinctive, and how to respond.

Who Is Pendrick Capital Partners?

Pendrick Capital Partners, LLC is a medical debt buyer founded in 2010 and headquartered in Alexandria, Virginia. The company has acquired over 55 million healthcare accounts with more than $16 billion in face value. They are BBB-accredited since 2017 and have been named in 128 federal lawsuits.

Pendrick does not collect directly. They place accounts through an affiliated network of collection agencies including Phoenix Financial Services, Affiliate Asset Solutions, and Debt Recovery Solutions. When you receive a call or letter about a Pendrick account, it comes from one of these affiliated agencies, not from Pendrick itself.

The April 2025 Debt Forgiveness

In April 2025, Pendrick sold $30 billion of medical debt to Undue Medical Debt, a national nonprofit that purchases and forgives medical balances for qualifying consumers. Qualifying consumers are those at or below 400% of the federal poverty level, or where medical debt represents 5% or more of their annual income.

Approximately 20 million consumers were affected across the country. The average balance erased was approximately $1,100. The states with the highest number of affected consumers include Texas, Florida, California, Georgia, and Oklahoma. Qualifying consumers receive notification by mail when their debt is erased.

Moving Debt Between Agencies Without Notice

A documented BBB review describes a consumer who disputed a Pendrick-owned balance with the first affiliated collection agency. The consumer provided documentation from their insurance company showing the account had been paid and from the provider showing a $0 balance.

Within three months, without any notification, Pendrick moved the account to a second affiliated collection agency. The consumer had to restart the entire dispute process from the beginning. The matter took over a year to resolve.

When disputing a Pendrick account, send your dispute simultaneously to Pendrick Capital Partners directly by certified mail AND to the affiliated collector. Disputing only with the affiliated collector leaves you exposed if Pendrick transfers the account.

Reporting to Credit Bureaus Before Sending Notice

A documented BBB review describes a consumer who received a Pendrick collection letter dated March 9. Pendrick had already reported the account to credit bureaus on March 3, six days before the consumer received any notice.

Under Regulation F, debt collectors must provide a validation notice before or promptly after credit bureau reporting. Reporting six days before the consumer receives any written notice may violate this requirement. If PCP appeared on your credit report before you received any written communication, cite Regulation F in your CFPB complaint and credit bureau disputes.

Collecting on Insurance-Paid Balances

A documented BBB review describes a provider who failed to file charges to insurance until 10 months after the service date. The provider sold the account to Pendrick. The insurance company subsequently paid the provider, and the provider’s own records showed a $0 balance. Pendrick continued pursuing the account despite both insurance and provider documentation confirming nothing was owed.

If Pendrick is pursuing a balance that insurance subsequently paid, send both the explanation of benefits and the provider’s $0 balance confirmation to Pendrick by certified mail and dispute with all three credit bureaus simultaneously.

The Time-Barred Debt Class Action

In 2019, a proposed class action was filed in Florida federal court alleging Pendrick Capital Partners and Debt Recovery Solutions misled a consumer about the possible revival of a time-barred debt. The case alleged the collection communication created the misleading impression that paying a portion of the debt could revive Pendrick’s legal right to collect the full balance.

If Pendrick or their affiliated collector is contacting you about an old medical debt and making statements about what happens if you pay a portion of it, verify the original delinquency date against your state’s statute of limitations before engaging.

The Multiple-Number Harassment Pattern

A documented BBB review describes a consumer who attempted to stop Pendrick-related calls by blocking numbers. The affiliated collector called from multiple different phone numbers to circumvent blocking. The consumer, who had a disability and was awaiting SSI approval, described being coerced into payment to stop what they characterized as harassment.

Calling from rotating numbers does not reset the Regulation F limit of 7 calls within 7 days on the same debt. Document every call across all numbers from any Pendrick-affiliated collector and add them together for Regulation F compliance purposes.

What Pendrick and Their Affiliated Collectors Cannot Do

The FDCPA applies to Pendrick’s affiliated collection agencies. Under federal law, they cannot:

• Move accounts between agencies without notifying consumers who have active disputes: A documented BBB complaint pattern.
• Report to credit bureaus before providing written notice to consumers: Subject of a documented BBB complaint and Regulation F concern.
• Collect on insurance-paid balances after documentation is provided: A documented BBB complaint.
• Call from multiple numbers to circumvent blocking: A documented complaint involving a disabled consumer.
• Threaten legal action Pendrick does not intend to take: Multiple sources confirm Pendrick does not sue consumers.

File complaints at consumerfinance.gov. Virginia residents can also file with the Virginia Attorney General’s Consumer Protection Section.

Medical Debt Reporting Rules Apply

Because Pendrick collects exclusively medical debt, specific credit reporting protections apply. Medical debts under $500 are not reported, paid medical collections are removed, and unpaid medical debt has a one-year waiting period before reporting.

If your account falls under any of these categories, dispute it immediately.

Verify Before Paying Anything

Send a written debt validation request by certified mail to both Pendrick Capital Partners and the affiliated collector contacting you. Ask for the original healthcare provider, the service dates, an itemized bill, and confirmation of all insurance claims submitted.

Pull your explanation of benefits before engaging. If insurance paid the balance, send both the EOB and any $0 balance statement from the provider to both Pendrick and the affiliated collector simultaneously.

How to Contact Pendrick Capital Partners

Handle all communication in writing. Contact both Pendrick and their affiliated collector when disputing:

• Address: Pendrick Capital Partners, LLC, 2331 Mill Road, Suite 510, Alexandria, VA 22314
• Mailing address: 1714 Hollinwood Drive, Belleview, VA 22307
• Phone: (866) 335-3361

Bottom Line

Pendrick Capital Partners is a medical debt buyer that does not collect directly and does not sue consumers. Their most serious documented patterns are moving accounts between affiliated agencies without consumer notice and reporting to credit bureaus before sending validation notices.

Dispute with both Pendrick and their affiliated collector simultaneously. Pull your EOB before paying. If you have a qualifying low income or high medical debt burden relative to your income, check whether you received a forgiveness notification from Undue Medical Debt before paying anything.