Remove Jefferson Capital Systems From Your Credit Report
It can happen to anyone. An unexpected medical bill. A missed payment on a credit card. Then you notice Jefferson Capital Systems, LLC, on your credit report.
What is this?
When Jefferson Capital Systems (JCS) has contacted you, your credit score may be at risk. If Jefferson Capital, Jeff Capsys, or Jefferson Capital Systems, LLC, appears on your credit file, it means that the collection agency has acquired your account. JCS will then provide your account information to the credit reporting agencies every month.
But how can you remove Jefferson Capital Systems before it damages your credit score?
What Is Jefferson Capital Systems?
Jefferson Capital Systems is a third-party debt collection agency. They purchase secured and unsecured consumer bankruptcies and charge-offs, then work to collect that debt.
Once the Jefferson Capital Systems tradeline appears on your credit report, it will immediately harm your credit. That score can remain on your file for years.
Jefferson Capital Systems can appear under several different names on your credit report, including Jefferson capital systems; Jefferson capital; Jefferson capital systems Llc; JCap; jeffcapsys; Jefferson capital systems Verizon; or jeffcapsys collections.
Is Jefferson Capital Systems a Legitimate Debt Collection Agency?
Yes, Jefferson Capital Systems LLC is a legitimate debt collection agency. It is one of the largest third-party collectors in the US.
Founded in 2002, Jefferson Capital Systems is headquartered in St. Cloud, MN (USA). The company size is 251-500 employees. In 2019, Jefferson Capital earned more than $30 million in revenue.
The company has additional affiliates and operations located in Minneapolis, Minnesota (United States), Denver, Colorado (United States), Basingstoke, England (United Kingdom), London, Ontario (Canada), and Toronto, Ontario (Canada).
How Does Jefferson Capital Systems Work?
Jeff Cap Systems buys debt from an original creditor. When companies cannot collect on unpaid bills, usually around six months from the payment due date, they often sell the rights to the debt to third-party collection agencies for pennies on the dollar as a way for creditors to cut their losses. Collection agencies like Jefferson Capital buy the debt.
Once Jefferson Capital owns a debt, its employees can call you at home, email, and send letters to you until a negotiation overpayment is made. In the meantime, the debt is placed on your credit report where it could stay for up to seven years before being removed from your file.
Who Does Jefferson Capital Systems Collect For?
Jefferson Capital’s client base includes creditors, banks, and major telecommunication providers like Verizon. JCS also collects for utility providers, credit card issuers, and auto finance companies.
What Is the First Step in Removing Jefferson Capital Systems From My Credit Report?
Once Jefferson Capital appears on your credit report, immediate action is required before your credit score starts to plummet.
Whether you dispute the outstanding debt or not, the first course of action is to write a credit dispute letter and file it with the credit bureaus (Equifax, Experian, TransUnion).
It is important to file your dispute within 30 days of receiving your Notice of Debt, or the debt will be presumed valid. Jefferson Capital Systems will then have 30 days to verify the disputed debt. Any inaccuracies in your credit report will then have to be removed.
How To Ask Jefferson Capital Systems for a Debt Validation Letter?
Along with filing a credit dispute letter with the major credit bureaus, you should also file your dispute with Jefferson Capital Systems directly and request a debt validation letter. According to the Fair Debt Collection Practices Act, you have the statutory right to have proof that the debt belongs to you.
When you request debt validation, the burden of proof is on the agency. Jefferson Capital must provide documents and other evidence to validate the collection effort within 30 days of receipt of your dispute letter. If Jefferson Capital Systems cannot provide sufficient evidence that you owe the debt, they will remove the negative entry from your credit report.
Can I Write a Letter of Goodwill to Jefferson Capital?
A goodwill letter is intended to explain your situation as it pertains to your personal debt. It outlines why you would like an opportunity for a fresh start with your finances.
If you intend on writing a letter of goodwill to Jefferson Capital, explain the circumstances as to why you incurred the debt and how important it is for you to repair your credit score. Maybe a poor credit history is impeding you from getting a mortgage or buying a new car.
Having settled your debt, make clear that you want to move on with your life, and poor credit history is a thing of the past. Circumstances happen that are out of your control— divorce, a death in the family, a failed business venture— a situation that puts you in financial distress. Highlight reasons why you should not be penalized with a poor credit report history.
A goodwill letter may not succeed in eliminating your debt. However, it may be beneficial when negotiating a fair payment plan moving forward.
How Do I Negotiate a “Pay for Delete” With Jefferson Capital Systems?
A “pay for delete” is an offer you can propose to Jefferson Capital that states that if you make a full payment, then the agency will delete the collection account from your credit reports.
Even if you cannot pay the debt in full, when negotiating a payment settlement with Jefferson Capital Systems, ask that the collection account be removed from your credit report.
Can Jefferson Capital Systems Garnish My Wages?
No, Jefferson Capital Systems cannot directly garnish your wages. Your rights under The Fair Debt Collection Practices Act do not allow collection agencies to threaten to garnish your wages or threaten to sue you in a court of law.
However, if the debt is valid and no payment is made, a collection agency can legally sue the consumer.
How Do I Contact Jefferson Capital Systems?
Jefferson Capital Systems, LLC, is located at 16 McClelland Road, St. Cloud, MN 56303.
You can reach Jefferson Capital by phone: 1-833-851-5552 or website: myjcap.com
How Do I Defend a Jefferson Capital Systems Debt Collection Lawsuit?
If you have been contacted by Jefferson Capital and you dispute the debt, you can take legal action to defend yourself. You are also protected from enduring harassing phone calls and constant emails or letters.
The Fair Debt Collection Practices Act (FDCPA) protects consumers from abusive collection tactics from collection agencies like Jefferson Capital. Debt collectors cannot call continuously with the intent to annoy or harass the consumer into making payments. They can only make calls to your home between 8 am-9 pm. They cannot call you at your place of work.
Jefferson Capital Systems cannot call you using an autodialer or pre-recorded message. The Telephone Consumer Protection Act (TCPA) strictly states that companies cannot call or text your cell phone without prior written consent. If you feel that you are being unjustly harassed by a collector, you can take legal action with a cease-and-desist order.
How Do I Get Jefferson Capital Systems To Stop Calling Me?
You may be receiving harassing calls and numerous unwanted emails from Jefferson Capital Systems. How can you get them to stop?
A consumer can request validation on the declared debt from the collector. The collector cannot contact the consumer during the validation period (usually 30 days).
If you have retained an attorney to represent the matter on your behalf, the collection agency is not allowed to contact you regarding the debt.
Have There Been Complaints Filed Against Jefferson Capital Systems?
Jefferson Capital Systems has had its fair share of consumer complaints filed with the Better Business Bureau. Many consumers have complained about Jefferson Capital’s billing and collection practices. Hundreds of complaints against Jefferson Capital Systems LLC have also been filed with the Consumer Financial Protection Bureau (“CFPB”).
A common complaint against Jefferson Capital Systems includes billing for a debt that was already paid to another creditor. Consumers have also filed notices against employees of Jefferson Capital for using harassing collection tactics that do not follow the Fair Debt Collection Practices Act.
Does Jefferson Capital Systems Use Abusive Collection Tactics?
Many debt collectors employ questionable tactics when trying to collect on outstanding debt. Jefferson Capital Systems has faced numerous complaints about doing just that.
Collection agencies like Jefferson Capital rely on most people not knowing their rights under the Fair Debt Collection Practices Act (FDCPA). As a consumer, you should be aware that:
- A debt collector cannot call you at home earlier than 8 am or later than 9 pm
- A debt collector cannot call your mobile phone outside the hours 8 am-9 pm
- A debt collector cannot call you at your place of work
- A debt collector cannot threaten to sue you for lack of payment
- A debt collector cannot threaten to garnish your wages
- A debt collector can not use abusive or vulgar language while on the call
If you feel that Jefferson Capital Systems has not complied with these standards while attempting to collect on a debt and that your rights have been violated, file a complaint with the Better Business Bureau (BBB).
Do I Need an Attorney to File Legal Action Against Jefferson Capital Systems?
When a person does not know their rights in a legal matter, lawsuits often end with a judgment against the consumer. With the aid of an attorney, the results of a dismissal or settlement are greatly improved.
You will need to notify Jefferson Capital Systems that you are granting power of attorney to the individual or entity handling your credit file if you decide to get representation for your legal matter.
Summary: How To Remove Jefferson Capital Systems From Your Credit Report?
Seeing Jefferson Capital Systems on your credit report can be stressful. But if you learn your rights under the Fair Debt Collection Practices Act, you will be more prepared and confident in getting your credit score back on track.
Remember to file a debt validation letter with Jefferson Capital within the first thirty days. It will then be their responsibility to verify that you are responsible for the debt. Jefferson Capital will have thirty days to provide the necessary verification, during which time there will be an end to the annoying phone calls.
If the debt is valid, write a letter of goodwill explaining your circumstances. Negotiate a payment that will satisfy Jefferson Capital, and the agency will remove the account from your credit report.
If you are not getting the cooperation necessary from Jefferson Capital Systems and you feel like proper collection practices have been breached, hiring an attorney will alleviate the stress and give you a better chance of dismissal in your case.