Have you been contacted by a company called PMAB LLC? You are likely being pursued for an unpaid debt.
They are a debt collector that may have been hired by your original creditor or may have purchased your old debt on the chance that you pay them instead.
They are extraordinarily difficult to work with and having them on your credit report can mean trouble for your score in the long run.
Collections accounts stay on your credit report for as long as seven years – whether or not you pay off the debt.
This means that any lender or creditor can see the entry and make loan decisions based on the fact that you have had debt go to collections.
In order to prevent this and further damage to your score, your best move is to remove the collections account from your credit report as fast as possible.
Doing so means understanding what PMAB LLC is and how to deal with them efficiently.
What is PMAB LLC?
Founded in 2003, PMAB LLC is a debt collection agency that is headquartered in Charlotte, NC.
They are the collections division of Med A/Rx and specialize in accounts receivable management and collections in the healthcare industry.
PMAB LLC makes money by coercing payments on debts either on behalf of the original company or because they have purchased the debt.
They often use problematic tactics in order to secure payments from you, including verbal abuse, intimidation, and even threats of legal action.
Does PMAB LLC Have Any Complaints?
PMAB LLC may be a legitimate debt collection business, but they are not pleasant to work with.
In their time in the industry, they have accrued 326 complaints with the Consumer Financial Protection Bureau and 51 with the Better Business Bureau.
The majority of these complaints are in regard to inaccurate reporting, harassment, and failure to validate debts.
Most customers assume that this kind of treatment from debt collectors just comes with the territory. However, there is actually a federal law that protects you from abuse such as this.
The Fair Debt Collections Practices Act (FDCPA) restricts the behavior of collection agencies by prohibiting tactics such as abusive or obscene language, harassment, or the use of false or misleading information to collect a debt.
You familiarize yourself with the basics of this act before communicating with them.
Understanding your rights ahead of time will help keep them in line when they are communicating with you.
How To Deal with PMAB LLC
Verify the Debt
One of the most important first steps when dealing with a debt collector is to verify that the debt belongs to you. In other words, do not ignore them!
Ignoring them will only make things harder for you in the long run.
Debt collectors are required by law to provide documentation that proves they are authorized to collect on a debt.
They don’t always have the proper documents, especially if the transition from the original creditor was swift.
This is where you can catch them on an error and get the entry removed.
Send PMAB LLC a letter within 30 days of their first contact that formally asks them to validate the debt.
Be sure to request a return receipt so that you know when they receive your letter.
If they fail to validate the debt, they must update the credit bureaus. This means that they will stop contacting you and entry will be deleted from your account.
This is considered one of the best strategies for getting a collections account removed.
This is because it is essentially catching a debt collector on a technicality and doesn’t involve paying a dime.
If you’ve missed the boat when it comes to debt validation, you can still get PMAB LLC to remove the collection account from your credit report.
You can do this in one of two ways: requesting a goodwill deletion or negotiating a settlement.
If The Debt Has Been Paid: Request Goodwill Deletion
A goodwill deletion is when PMAB LLC removes the entry from your account out of benevolence.
This is usually only granted if you have already paid the total balance of the debt and the collector can see that the debt is a one-off occurrence.
To request a goodwill deletion, you will need to write them a letter explaining your circumstances and why you would like the entry removed.
It is best to be polite and courteous throughout your letter. After all, PMAB LLC is more willing to grant a favor to those who ask nicely.
If The Debt Has Not Been Paid: Negotiate a Pay-for-Delete Agreement
If you haven’t paid the debt, you can always try negotiating a settlement with PMAB LLC.
The most common type of settlement that is worked out with debt collectors is a pay-for-delete agreement.
A pay-for-delete agreement is exactly what it sounds like; PMAB LLC agrees to remove the entry in exchange for payment.
The trick is that you must get the collections agency to agree to have the entry removed if you make a payment.
They may try to dissuade you by saying they will change the status to ‘paid’, but this will mean that the entry will still appear on your report and affect your score.
If you haggle with PMAB LLC, you may be able to get away with paying only a fraction of what you actually owe.
Start by offering to pay half and work from there. Make sure that PMAB LLC sends you a written agreement clearly stating the terms before you make payment.
Once you submit your payment, the collections entry should be removed from your credit report within a month.
If it hasn’t been, check-in with PMAB LLC to ensure that they follow through.
Hire a Professional
If you would rather avoid working directly with PMAB LLC, you can always enlist the help of credit repair professionals.
Credit repair companies can help you if your credit is in need of a boost or if you just don’t want to communicate with a debt collector yourself.
They will identify dings on your credit report and work with the various collectors to negotiate settlements and get them removed.
Professional services can be well worth the cost, but it’s important that you work with the right people.
If you want professional help, take a few moments to compare some of the best credit repair companies and pick the best fit.
Do you have any tips on dealing with collections agencies like PMAB LLC? Please share them in the comments below.
Can PMAB LLC Pursue Me?
The question many people have is if PMAB LLC is a legitimate collector.
After all, you never purchased anything from them, do they have the authority to collect on your debt?
The answer is yes, but they may lack the necessary documentation to make it official.
If a bill goes unpaid for a few months, it may be handed over to a debt collection agency.
This company can call and mail you notices about your account until you make payment.
In some cases, they may try to garnish your wages or take legal action.