CBM Services, Inc. Debt Defense

You may think the only way to resolve a debt after a collection agency such as CBM Services contacts you is to pay it. CBM Services is very aggressive in its collection efforts. They may send you multiple letters, call you regularly, and even email and text you. They do this to intimidate and discourage you, and to feel as though you have no option but to pay the debt. This is not always the case.

Even if you plan to repay the debt, you must first ensure that the debt is genuine and that you owe it. It may be a case of identity theft, mistaken identity, or an error made by CBM Services. Below, one of our Fort Lauderdale debt defense lawyers outlines the steps you should take and how you can defend yourself.

Who is CBM Services?

Many people think that CBM Services is a scam, but they are a legitimate third-party debt collection company. The company’s headquarters are in Midland, Michigan, but they operate throughout the entire country. For more than 100 years, CBM has helped the companies they work for collect the debt that is owed to them. CBM Services, Inc. collects for companies in many different sectors including medical, government, financial, and commercial institutions.

CBM Services, Inc. promotes itself to clients and potential clients as having a high success rate of recovering debt owed from delinquent accounts. It does this by offering comprehensive services such as debt collection, credit reporting,  and taking legal action against borrowers who resist collection efforts.

Complaints Against CBM Services, Inc.

CBM Services, Inc. has many complaints lodged against them on multiple online platforms including the Better Business Bureau, Chamber of Commerce, WalletHub, and Birdeye. Many borrowers have not only left poor reviews for the company, but they have also submitted formal complaints against CBM. Many of the complaints state that borrowers had to deal with unreasonable and rude representatives. Other complaints state that borrowers were contacted about a debt they had already paid, or that they were inaccurately reported to the credit bureaus.

Many of the complaints against CBM Services, Inc. also state that the company violated the Fair Debt Collection Practices Act (FDCPA). This federal law prohibits debt collection companies such as CBM Services, Inc. from engaging in certain tactics. These include calling borrowers very early in the morning or very late at night, using threatening language, and misrepresenting the facts about a debt, to name just a few. If CBM Business Services, Inc. has used any of these tactics on you, it is possible to file a lawsuit against them to recover statutory and actual damages.

You May Not Owe the Debt

CBM Business Services, Inc. is known for pursuing debt from borrowers that they do not owe, or that they have already paid. You can dispute this debt with the company and the three credit reporting bureaus if the debt already appears on your credit report. The step is to send a debt validation letter to CBM. The letter should ask for certain information including the original creditor, the amount of debt allegedly owed, and how long ago you incurred the debt.

After you have asked CBM to validate the debt, you can use this as evidence when disputing the debt with the credit bureaus. Once they receive your letter, they will conduct an investigation and contact you within 30 days. Depending on the results of their investigation, they may remove or modify the debt on your credit report.

Settling the Debt

The best way to stop CBM from contacting you is to repay the debt, as long as they have validated it. For many people, this is only an option if an investment matures or they receive a significant inheritance. However, you may have other options if you can settle the debt with CBM Business Services, Inc.

When settling a debt, you agree to pay a portion of it in a lump sum payment and CBM Business Services, Inc. agrees to forgive the remaining portion. Debt settlement negotiations typically begin with a settlement offer sent to the debt collector. It is always best to start with a low settlement offer at first. CBM will make a counteroffer, and that amount will be significantly higher. Before negotiating with you, the company may also investigate your financial situation to verify that you cannot afford to repay the debt. They may investigate your debt, payments made, and your reasons for non-payment.

Negotiations then continue until you reach a settlement amount that works for both of you. Many people are not comfortable negotiating on their own. A lawyer will know how to negotiate on your behalf so you obtain the best possible outcome. A lawyer will also ensure that any settlement agreement is in writing so CBM Business Services, Inc. cannot retract their words in the future.

Respond to Any Legal Action Taken Against You

If CBM Business Services, Inc. has tried to collect a debt from you to no avail, they may take legal action against you. They may file a lawsuit against you, and even try to garnish your wages or levy your bank account. Upon receiving notice of the lawsuit, you may be tempted to ignore it in the hopes that it goes away. It will not and a failure to respond to the lawsuit can have drastic consequences.

CBM Business Services, Inc. will likely obtain a default judgment against you if you fail to respond to the lawsuit. This means they will win their case automatically and you will not have the opportunity to defend yourself. You also only have a limited amount of time to reply, so you must speak to a lawyer right away.

Our Debt Defense Lawyer in Fort Lauderdale Can Help with Your Case

If CBM Business Services, Inc. has been contacting you, there is help available. At Loan Lawyers, our Fort Lauderdale debt defense lawyer can advise on whether the company has violated your rights, and make sure they are restored. Call us now at (954) 523-4357 or contact us online to schedule a free consultation.