What is Convergent Outsourcing?

For most people who are unaware about this, the main question would be, “What is convergent outsourcing?” Convergent Outsourcing is a debt collection agency that has been working in terms of processing outsourcing, cycle of revenue and management of their receivables. 

Convergent Outsourcing is a legitimate company that has companies for their clients – these companies whom you have incurred the debt with like banks, retailers, utilities, cable and satellite service providers and the telecommunication companies. It is said that they have been in the business for a long time and are accredited. 

Accordingly, their representatives are in compliance with applicable laws, regulations and client policies like Fair Debt Collection Practices Act (FDCPA) and undergo training and regular testings to ensure proper customer service. Their names might appear in your credit report as “lvnv” or “lvnv collections.”

So that you just know, a typical credit score is made up of the following: bill paying history, current unpaid debt, number and type of loan accounts you have, how long you have your loan accounts open, how much of your available debt you are using, new applications for credit and a foreclosure or a bankruptcy, whether you have had a debt sent to collection and how long. 

Out of Their Reports

However, some customers are not very happy with their strategies. If you are getting several calls and harassment from agencies like these, it means you are being pursued for your unpaid debts. Aggressive and persistent, these debt collectors usually test your patience. They usually want personal information from you so that they can use it in the future for you to make the payback. 

More notably about this is the way they can hurt your credit score as convergent outsourcing accounts collections can just pop up in your credit report and remain there for up to 7 years, and it doesn't even matter whether you pay for it or not, hitting your credit score badly. 

Although there may be general timelines for credit reporting, limitations on debt can vary on the area. That is why any negative information can hurt your credit if they remain there for a long period of time. 

How to Solve the Problem of Convergent Outsourcing?

Remember that nobody, not even the debt collection agency, has the power to remove these information from  your true credit report. But if you have inaccurate information from your report because it got lost or have been misread during the transfer or the debt is not actually yours, then you can  send a request for a Debt Validation, you  could dispute the credit and if proven, you may not even have to pay for the inaccurate or wrong debt. 

Now, if you have already paid your debt and you want the collection removed from your credit report, you can send a Goodwill Deletion letter which requests the credit collection agency to remove medical collections and unpaid debts from your credit report, though you would have to settle your debts in return, this is also known as “pay for delete letter”. 

You may have to justify your request because of some circumstances like being laid off or experiencing illness. And you must be ready with your documents that will back your story. Although this is no guarantee that your credit would be removed from your credit report, you can always give it a try. 

Your Other Options

There are also other ways to solve your problems. Convergent outsourcing agencies are of course more than willing to resolve your collections issue by talking to you in person or or dealing with it online instead of making all those annoying phone calls. They say that they may even grant your wish of removal from their call list if you will just follow their instructions.  

There is also the option of credit repair companies who are experts in navigating your credit report to boost your score. These companies promise to remove negative and inaccurate items from your credit report. Some who are quite desperate turn to these Credit repair professionals who would analyze your credit report and come up with a plan. 

You will have to make a consultation with them and let them take away all your stress and time hassles. One important thing to look out for is making sure that the company will be legitimate and good at their job!

Takeaway

With  so many complaints on convergent outsourcing usually coming from the Consumer Financial Protection Bureau and the like would mean you will be getting a good chance to qualify to get the loan for the home, car and credit cards that you are hoping for. But keep in mind that you will have to decide on the best strategy that will work for you.