Who is TexCap Financial?
TexCap Financial, LLC is a financial services company based in Dallas, Texas. They specialize in providing services to “buy here, pay here” auto dealerships.
Buy here, pay here dealerships are car dealers that offer financing to buyers, usually those with poor or no credit. These dealerships handle the loan approval process in-house rather than through third-party financial institutions.
If TexCap Financial is listed on your credit report, it typically signifies an outstanding debt that they are trying to collect, often due to a missed or late payment on an auto loan.
Is TexCap Financial legit or a scam?
TexCap Financial is a legitimate company. They are authorized to collect debts on behalf of their clients, which are mostly auto dealerships. However, it’s important to verify any debts they claim you owe before making any payments.
How can I remove TexCap Financial 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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TexCap Financial, LLC Contact Information
TexCap Financial, LLC
14875 Landmark Blvd
Dallas, TX 75254
Phone number: (877) 782-5559 or (214) 396-4104
Should I contact or pay TexCap Financial?
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 TexCap Financial is to work with a credit repair professional. They help remove millions of negative items every year from companies like TexCap Financial, LLC on behalf of their clients.
Will TexCap Financial sue me or garnish my wages?
TexCap Financial does have the legal right to sue you for unpaid debts. If they file a lawsuit and win, the court may grant them a judgment. This judgment could allow them to garnish your wages or levy your bank account. The specific collection actions they can take will depend on your state’s laws.
However, remember that a lawsuit is generally a last resort for financial institutions and debt collectors due to the cost and time involved. Prior to this step, TexCap Financial will likely attempt to contact you multiple times to negotiate repayment of the debt.
TexCap Financial, 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 TexCap Financial, 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 TexCap Financial 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.
- TexCap Financial may not threaten or harass you, call you repeatedly, swear at you, or publicly publish a list of debtors.
- TexCap Financial 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.
- TexCap Financial cannot threaten to have you arrested or imprisoned over unpaid debts.
Remove TexCap Financial, LLC From Your Credit Report Today!
Credit Saint can assist you in disputing TexCap Financial, LLC 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.
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