If Phoenix Financial Services has popped up on your credit report, it likely means an unpaid debt has gone to collections. And while a collection account can damage your credit score, there are ways to dispute or remove it—especially if the information is inaccurate or unverified.
Who Is Phoenix Financial Services?
Phoenix Financial Services, LLC is a debt collection agency based in Indianapolis, Indiana. They are nationally licensed and work with a variety of creditors to recover past-due balances.
If you see their name on your credit report, it’s because they’re collecting on behalf of another company you owe—or may have owed—in the past.
How Phoenix Financial Services Might Appear on Your Report
Phoenix Financial Services may not always show up under its full name. Look out for these variations:
- phoenix financial
- phoenixfinancialsvcs
- phnx finan
- phoenix collection
- phoenix pendrick
- phoenix financial llc
- phoenix financial serv
- phoenix financial svcs
These variations still point back to the same company.
Who Do They Collect For?
Phoenix Financial Services collects debts across several major industries, including:
- Medical bills from hospitals or healthcare providers
- Student loans and education-related accounts
- Government-related debts and unpaid tax balances
They may also work with utility companies and other service-based businesses.
Is Phoenix Financial Services Legit?
Yes, Phoenix Financial Services is a legitimate debt collector. But just because they’re authorized to collect doesn’t mean the debt is accurate. Collections are often reported with errors, outdated information, or linked to the wrong person.
How to Remove Phoenix Financial Services From Your Credit Report
A collections account can stay on your report for up to seven years—but you may be able to remove it sooner. Here’s how:
1. Dispute Any Inaccuracies
Carefully review your credit report for any errors tied to the account. If the amount is wrong, dates are off, or the debt isn’t yours, you can dispute it with the credit bureaus. If they can’t verify the information, they’re required to remove it.
2. Send a Debt Validation Letter
Under federal law, you have the right to request proof that the debt is valid. Send a debt validation letter to Phoenix Financial Services within 30 days of being contacted. If they can’t verify the debt, they must stop collection efforts and delete the account from your report.
3. Negotiate a Pay-for-Delete Agreement
If the debt is valid, and you’re willing to pay, ask if Phoenix will remove the account from your report in exchange for payment. This is called a pay-for-delete. Not all agencies agree, but it’s worth trying—especially for smaller or older debts. Always get the agreement in writing before paying.
4. Work With a Credit Repair Company
Not sure how to handle this on your own? A reputable credit repair service can take over the process. They’ll contact the agency, manage disputes, and may increase your chances of getting the account removed.
Ready to Clean Up Your Credit Report?
Learn how credit repair professionals can assist you in disputing inaccuracies on your credit report.
Should You Contact or Pay Phoenix Financial Services?
Before you take action, ask yourself:
- Is the debt accurate and really mine?
- Is it within the statute of limitations in my state?
- Will paying reset the collection clock?
Making a payment on an old debt can, in some states, restart the legal timeline for collections—giving the agency more time to sue.
Can Phoenix Financial Services Sue or Garnish Wages?
Yes, Phoenix Financial Services can take legal action. If they sue you and win in court, they may be able to:
- Garnish your wages
- Freeze your bank account
- Place a lien on your property
However, lawsuits are usually a last resort. Most debt collectors will try to settle first to avoid legal costs.
Complaints About Phoenix Financial Services
Like many collectors, Phoenix Financial Services has received complaints filed with the Consumer Financial Protection Bureau (CFPB) and Better Business Bureau (BBB). Common complaints include:
- Reporting incorrect account information
- Failing to verify debts after requests
- Harassment or excessive contact attempts
- Trying to collect on debts not owed
If you experience any of this, you can file a complaint with the CFPB or your state’s attorney general.
Your Rights Under Federal Law
You’re protected by two major laws:
- Fair Credit Reporting Act (FCRA): Lets you dispute errors and inaccurate information on your credit report.
- Fair Debt Collection Practices Act (FDCPA): Protects you from abusive, deceptive, or unfair behavior by debt collectors.
Your rights include:
- Requesting written debt validation
- Being treated respectfully—no threats, swearing, or repeated calls
- Being told clearly that you’re dealing with a debt collector
- Not being threatened with arrest or jail over a debt
- Sending a cease-and-desist letter to stop communication
Phoenix Financial Services Contact Information
Office Address:
Phoenix Financial Services, LLC
8902 Otis Ave
Indianapolis, IN 46216
Mailing Address:
P.O. Box 361450
Indianapolis, IN 46236
Phone:
(855) 342-6567
Get Help Removing Phoenix Financial Services From Your Credit Report
Tired of dealing with collections on your own? Credit Saint has helped thousands of people remove negative marks like Phoenix Financial Services—and they stand behind their work with a 90-day money-back guarantee.
Call (855) 281-1510 for a free consultation or visit their website to get started today.
Brooke Banks is a personal finance writer specializing in credit, debt, and smart money management. She helps readers understand their rights, build better credit, and make confident financial decisions with clear, practical advice.
