Who is Source Receivables Management?
Source Receivables Management, LLC, also known as Source RM, is a debt collection agency based in Greensboro, North Carolina. Their primary role is to recover unpaid debts on behalf of their clients.
If you see Source Receivables Management listed on your credit report as a collections account, it means that you have an unpaid debt that has been transferred to them for collection.
Who does Source Receivables Management collect for?
Source Receivables Management collects debts for a diverse range of businesses. These include banks and credit unions, commercial entities, debt purchasers, healthcare providers, retail credit card companies, telecommunications firms, and utility companies.
Is Source Receivables Management legit or a scam?
Source Receivables Management is a legitimate company. They are authorized to collect debts on behalf of their clients. However, it’s important to verify any debts they claim you owe before making any payments.
How can I remove Source Receivables Management from my credit report?
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.)
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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.
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Source Receivables Management, LLC Contact Information
Source Receivables Management, LLC
4615 Dundas Dr. Ste 102
Greensboro, NC 27407
Source Receivables Management, LLC
PO Box 4068
Greensboro, NC 27404
Phone number: (877) 251-3775
Should I contact or pay Source Receivables Management?
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 Source Receivables Management is to work with a credit repair professional. They help remove millions of negative items every year from companies like Source Receivables Management on behalf of their clients.
Will Source Receivables Management sue me or garnish my wages?
Source Receivables Management is entitled to sue you for an unpaid debt. If they win the lawsuit, the court may grant them a judgment that allows them to garnish your wages or levy your bank account to recover the debt. However, this is typically a last resort and happens only after multiple attempts to collect the debt in other ways have failed.
Source Receivables Management, LLC 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 Source Receivables Management, LLC
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 Source Receivables Management 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.
- Source Receivables Management may not threaten or harass you, call you repeatedly, swear at you, or publicly publish a list of debtors.
- Source Receivables Management 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.
- Source Receivables Management cannot threaten to have you arrested or imprisoned over unpaid debts.
Remove Source Receivables Management From Your Credit Report Today!
Credit Saint can assist you in disputing Source Receivables Management collection 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.
Ready to Repair Your Credit?
Learn how to get help disputing errors on your credit report that could be hurting your credit score.
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