Security Credit Services on Your Credit Report: What to Know

Security Credit Services, LLC has purchased and collected delinquent consumer debt from Oxford, Mississippi since 2003, rebranding as EquiPro Investments in 2018. Both names may appear on your credit report or in collection letters. SCS buys portfolios of credit card, bank, and retail debt for pennies on the dollar and files lawsuits to collect.

A 2012 Florida federal court denied SCS’s motion for summary judgment after finding they may have filed a collection lawsuit in a state where they were not properly registered. Documented BBB complaints also show SCS reporting a debt that had already been paid and attempting to collect accounts simultaneously being handled by other collection agencies. This guide covers who they are and how to respond.

Who Is Security Credit Services?

Security Credit Services, LLC is a debt buyer founded in 2003 and now operating as EquiPro Investments. They are not BBB accredited despite an A+ rating, with 122 BBB complaints in three years and 424 CFPB complaints on record. Seven civil cases name them in Justia. They purchase charged-off consumer debt portfolios from banks, retailers, and other financial institutions and file lawsuits to collect.

Mississippi has a 3-year statute of limitations on written contracts. The relevant statute is the state where you reside.

The Florida Case: Filing Lawsuits While Not Properly Registered

In a January 2012 case in the Southern District of Florida, SCS filed a lawsuit against a Florida consumer to collect a Wells Fargo debt it had purchased. The consumer countersued, alleging SCS was not registered as a collection agency in Florida at the time it was conducting collection business there. SCS argued the FDCPA should not apply to an actual lawsuit filing.

The court rejected that argument in a notable ruling, finding it would be “illogical” to prohibit a debt collector from merely threatening an illegal lawsuit while permitting them to actually file one. SCS’s motion for summary judgment was denied.

If SCS is collecting in your state, confirm they hold the required collection license for your state before engaging. State collection agency registration requirements vary and SCS has documented licensing compliance issues.

The Standing Problem in Missouri and Other States

Missouri consumer attorneys who have handled SCS cases specifically note that debt buyers like SCS regularly lack the standing and documentation needed to prevail in court. Missouri caselaw requires debt buyers to establish standing to sue on purchased debt, which means proving the complete chain of assignment from the original creditor to SCS.

Because SCS purchases portfolios that may have changed hands multiple times, the paperwork is frequently thin or incomplete. If SCS files a lawsuit, filing a written Answer and requesting chain of assignment documentation in your response forces SCS to produce evidence that consumer attorneys report they often cannot fully provide.

Reporting Debts Already Paid

A documented BBB complaint describes a consumer who had already paid an account in full in January through a different vendor. The same debt then reappeared on their credit report under Security Credit Services. SCS confirmed in their BBB response the account had been paid in full with a $0 balance and that it should be removed.

If SCS is reporting a balance you have already paid, whether to SCS or to the original creditor or another collection agency, gather your payment confirmation before filing a dispute. SCS’s own BBB response confirms they have reported accounts that were already resolved.

Attempting to Collect Accounts Already Being Handled Elsewhere

A documented consumer complaint describes SCS attempting to serve legal papers for a debt the consumer stated was already being handled through a separate law firm and being paid. Multiple collection agencies pursuing the same debt simultaneously is a documented SCS complaint pattern.

If you are currently making payments on a debt through another agency or law firm and SCS has contacted you about the same account, document both relationships with dates and send written notice to SCS identifying the existing arrangement before engaging further.

The Chain of Assignment Is Your Primary Defense

SCS purchases portfolios containing many accounts. The documentation linking your specific account to SCS’s ownership chain is frequently the weakest point in any SCS lawsuit. They must prove not only that a portfolio was purchased but that your specific account was included in the transfer.

Requesting the original signed credit agreement, a complete payment history, and the specific assignment documents for your account is a standard opening move when SCS files a lawsuit. Consumer attorneys report that SCS frequently cannot produce complete documentation and cases are often settled or dismissed when consumers contest this.

What to Do Before Paying or Responding

Send a written validation request by certified mail within 30 days of first contact. Request the original creditor’s name, the account number, the balance at charge-off, and the complete chain of assignment to SCS. Confirm SCS holds an active collection license in your state. For any account you have already paid, gather payment confirmation before disputing.

Mississippi’s 3-year statute of limitations is one of the shorter limits nationally. The relevant statute is your state of residence, not Mississippi.

File complaints with the Mississippi AG’s Consumer Protection Division at (601) 359-4230 and the CFPB.

How to Contact Security Credit Services

• Address: Security Credit Services, LLC / EquiPro Investments, 306 Enterprise Drive, Oxford, MS 38655
• Mailing address: P.O. Box 1156, Oxford, MS 38655
• Phone: (866) 699-7889
• Website: equiproinvestments.com

Bottom Line

Security Credit Services purchases debt portfolios and files lawsuits, with 424 CFPB complaints and a documented 2012 Florida court ruling that denied their motion for summary judgment for potential licensing violations. They have reported debts that were already paid and pursued accounts simultaneously being handled by other agencies.

If SCS files a lawsuit, respond before the deadline and request complete chain of assignment documentation. If they are reporting a paid account, gather your payment records and dispute immediately.