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Creditors like Preferred Credit, Inc. cannot harass you over a debt. You have rights under the law, and we will stop the harassment once and for all.

THE BEST PART IS…

If Preferred Credit, Inc. violated the law, you may be entitled to money damages and Preferred Credit, Inc. will pay our fees and costs. You won’t owe us a dime for our services. Plus, some of our clients also receive debt relief and cleaned-up credit reports. You have nothing to lose! Call us today at 888-572-0176 for a free consultation.

Who is Preferred Credit, Inc.?

Preferred Credit, Inc. is a family-owned consumer financing service based in St. Cloud, Minnesota. Founded in 1982, it has been accredited by the Better Business Bureau (BBB) since 2009.

Preferred Credit, Inc.’s Address, Phone Number, and Contact Information

Preferred Credit, Inc. is located at 628 Roosevelt Road, St. Cloud, MN 56301. The main telephone number is 800-972-0825 and the main website is www.preferredcredit.com/

Phone Numbers Used by Preferred Credit, Inc.

Like many creditors, Preferred Credit, Inc. may use many different phone numbers to contact debtors. Here are additional numbers Preferred Credit, Inc. may be calling you from:

  • 414-365-1698
  • 613-333-3456
  • 855-855-1944
  • 877-631-5972
  • 904-647-2714

Preferred Credit, Inc. Lawsuits

If you want to know just how unhappy consumers are with Preferred Credit, Inc., take a look at the number of complaints consumers have made online. Nowadays, most original creditors, credit card companies, etc. have arbitration clauses, which means that if you have a complaint against that company, you must file your claim in arbitration. Arbitration limits discovery, is not public, has a limited appellate process, and, most importantly, is funded primarily by banks and big businesses. While it can be difficult to get a fair chance in arbitration, the good news is we have filed hundreds of credit harassment cases in arbitration, and we know how to aggressively fight these cases against the big banks and businesses even when arbitration is necessary.

Preferred Credit, Inc. Complaints

The Telephone Consumer Protection Act (TCPA) protects you from robocalls, which are those annoying, automated, recorded calls that computers make all day long. You can tell it’s a robocall because either no one responds on the other end of the line, or there is a delay when you pick up the phone before a live person responds. You can receive $500 per call if Preferred Credit, Inc. violates the TCPA. Have you received a message from this agency that sounds pre-recorded or cut-off at the beginning or end? These are tell-tale signs that the message is pre-recorded, and if you have these messages on your cell phone, you may have a TCPA case against the agency.

The Electronic Fund Transfer Act (EFTA) protects electronic payments that are deducted from bank accounts. If Preferred Credit, Inc. took unauthorized deductions from your bank account, you may have an EFTA claim against the agency. Preferred Credit, Inc., like most collection agencies, wants to set up recurring payments from consumers; imagine how much money it can earn if hundreds, even thousands, of consumers electronically pay them $50 – $100 or more per month. If you agreed to this type of reoccurring payment, the agency must follow certain steps to comply with the EFTA. Did Preferred Credit, Inc. continue to take electronic payments after you told them to stop? Did they take more money from your checking account than you agreed to?  If so, we can discuss your rights and a potential case under the EFTA.

The Fair Credit Reporting Act (FCRA) works to ensure that no information reported to your credit report is false. In essence, it gives you the right to dispute those inaccuracies that you find on your credit report. We’ve handled many cases in which a debt collection agency reported debt on a consumer’s credit report to obtain leverage over the consumer. If Preferred Credit, Inc. is on your credit report, they may tell you that they’ll remove the debt from your credit report if you pay it; this is commonly known as “pay for delete.” If the original creditor is on your report rather than the debt collector, and you pay off the debt, both entities should accurately report this on your credit report. 

Several states also have laws to provide their citizens an additional layer of protection. For example, if you live in California, Florida, Michigan, Montana, North Carolina, Pennsylvania, Texas, or Wisconsin, you may be able to add a state-law claim to your federal law claim above.  North Carolina, for example, has one of the most consumer-friendly statutes in the country: if you live in NC and are harassed over a debt, you may receive $500 – $4,000 in damages per violation. We work with a local counsel in NC and our NC clients have received some great results in debt collection harassment cases. If you live in North Carolina and are being harassed by a debt collector, you have the leverage to obtain a great settlement.

How do we Use the Law to Help You?

We will use state and federal laws to immediately stop Preferred Credit, Inc.’s debt collection. We will send a cease-and-desist letter to stop the harassment today, and if Preferred Credit, Inc. violates the FDCPA, EFTA, FCRA, or any state law, you may be entitled to money damages. For example, under the FDCPA, you may receive up to $1,000 in damages plus actual damages. The FDCPA also has a fee-shift provision, which means the debt collector will pay your attorneys’ fees and costs. If you have a TCPA case against the agency, we will handle it based on a contingency fee and you won’t pay us a dime unless you win.

THAT’S NOT ALL…

We have helped thousands of consumers stop phone calls.  We know how to stop the harassment and get you money damages. Once again: you will not pay us a dime for our services. We will help you based on a fee-shift provision and/or contingency fee, and the debt collector will pay your attorneys’ fees and costs.

What if Preferred Credit, Inc. is on My Credit Report?

Based on our experience, some debt collectors may credit-report, which means one may mark your credit report with the debt they are trying to collect. In addition to or instead of the debt collector, the original creditor may also be on your credit report in a separate entry, and it’s important to properly identify these entities because you will want both to update your credit report if or when you pay off the debt. 

THE GOOD NEWS IS…

If Preferred Credit, Inc. is on your credit report, we can help you dispute it. Mistakes on your credit report can be very costly: along with causing you to pay higher interest rates, you may be denied credit, insurance, a rental home, a loan, or even a job because of these mistakes. Some mistakes may include someone else’s information on your credit report, inaccurate public records, stale collection accounts, or even being a victim of identity theft. If you have a mistake on your credit report, there is a process to dispute it, and my office will help you obtain your credit report and dispute any inaccurate information.

REMEMBER…

If a credit reporting agency violates its obligations under the Fair Credit Reporting Act (FCRA), you may be entitled to statutory damages up to $1,000, and the credit reporting agency will be required to fix the error. The FCRA also has a fee-shift provision, which means the credit reporting agency will pay your attorneys’ fees and costs. You won’t owe us a dime for our services. We have helped hundreds of consumers fix inaccurate information on their credit reports, and we’re ready to help you, too.

What Our Clients Say About Us

Mike Agruss Law has over 1,000 outstanding client reviews on our website, an A+ BBB rating, and over 135 five-star reviews on Google. Here’s what some of our clients have to say about us:

“Michael Agruss handled two settlements for me with great results and he handled them quickly. He also settled my sister’s case quickly and now her debt is clear. I highly recommend Michael.”

“Mike Agruss Law was very helpful, they helped me solved my case regarding the unwanted calls. I would highly recommend them. Thank you very much Mike Agruss!”

“Mike Agruss Law was very helpful to me and my veteran father! We were harassed daily and even called names for a loan that was worthless! Agruss stepped in and not only did they stop harassing, they stopped calling altogether!! He even settled it so I was paid back for the problems they caused!”

Can Preferred Credit, Inc. Sue Me?

Yes, Preferred Credit, Inc. can sue you. Preferred Credit, Inc. can hire a lawyer to file a breach of contract lawsuit against you for the underlying debt, fees, and costs. If you’ve been sued by Preferred Credit, Inc., do not ignore the lawsuit; you may have defenses. If you ignore the lawsuit, the default will be entered and the agency may seek to garnish your wages. If you receive notice of a lawsuit, contact an experienced attorney as soon as possible, even if you intend to represent yourself pro se. If Preferred Credit, Inc. has threatened to sue you, contact Mike Agruss Law as soon as possible; we’re here to help.

Can Preferred Credit, Inc. Garnish My Wages?

Yes, if Preferred Credit, Inc. has a judgment entered against you. If Preferred Credit, Inc. is currently garnishing your wages or threatening to do so, contact our office as soon as possible.

Preferred Credit, Inc. Settlement

If you want to settle a debt with Preferred Credit, Inc., ask yourself these questions first:

  1. Do I really owe this debt?
  2. Is this debt within the statute of limitations?
  3. Is this debt on my credit report?
  4. If I pay this debt, will Preferred Credit, Inc. remove it from my credit report?
  5. If I pay this debt, will the third-party debt collector remove it from my credit report?
  6. If I pay this debt, will I receive written confirmation from Preferred Credit, Inc. confirming the payment and settlement terms?

These are not the only things to consider when dealing with debt collectors. We are here to help you answer the questions above, and much more. Whether it’s harassment, settlement, pay-for-delete, or any other legal issue with Preferred Credit, Inc., we at Mike Agruss Law are here to help you.

Top Debt Collection Violations

Debt collection laws provided a laundry list of what collectors can and cannot do while collecting a debt. Based on our years of experience handling thousands of debt collection harassment cases, here’s what collection agencies most often do to violate the law. 

  1. Called you about a debt you do not owe.
  2. Called you at work after you told them you cannot receive calls at work.
  3. Left you a message without identifying the company’s name.
  4. Left you a message without disclosing that the call is from a debt collector.
  5. Called third parties (family, friends, coworkers, or neighbors) even though the collection agency knows your contact information.
  6. Disclosed to a third party (family, friends, coworkers, or neighbors) that you owe a debt.
  7. Contacted you after you said stop calling.
  8. Threatened you with legal action (such as a lawsuit or wage garnishment).
  9. Called you before 8:00 AM or after 9:00 PM.
  10. Continued to call you after you have told the collector you cannot pay the debt.
  11. Communicated (phone or letter) with you after you filed for bankruptcy.
  12. Failed to mark the debt on your credit report as disputed after you disputed the debt.

Frequently Asked Questions

  1. Do I have to pay your fees and costs for helping me with my consumer rights case? No. We handle consumer rights cases based on a fee-shift provision and/or a contingency fee. That means either the other side pays your fees and costs, or we take a percentage of your recovery. Whether it’s a fee-shift case or a contingency-fee case, we don’t get paid unless you get paid, and you’ll never owe us a penny for our time.

  2. What are the damages under the Telephone Consumer Protection Act? You can get $500 per robocall, or $1,500 per robocall if the robocalls were willful. In any type of settlement, oftentimes Defendants pay much less than $500 per call. However, if there are 50 calls at issue, even at $250 per call, your case could settle for $12,500.00.

  3. Are there state laws that protect me from original creditors? Yes! Several states also have laws that provide their citizens an additional layer of protection. For example, if you live in California, Connecticut, Florida, Kansas, Massachusetts, Michigan, Missouri, Montana, North Carolina, Nevada, Oklahoma, Pennsylvania, Texas, and Wisconsin, you have additional state-law rights.

  4. What type of debt is covered under state laws that protect me from original creditors? Only consumer debt, such as personal, family, and household debts. For example, the money you owe on a personal credit card, an auto loan, a medical bill, or a utility bill. State laws usually do not cover debts you incurred to run a business, or debts regarding unpaid taxes, or traffic tickets.

  5. Does the Fair Debt Collection Practices Act apply to banks or credit card companies? No. Only third-party debt collectors are bound by the FDCPA. That is, original creditors, such as credit card companies and banks, are not bound by the FDCPA.

  6. Are mistakes on credit reports common? Yes! Are you one of the 40 million Americans that have a mistake on their credit report? Mistakes on your credit report can be very costly. Along with causing you to pay higher interest rates, you may be denied credit, insurance, a rental home, a loan, or even a job because of these mistakes. Some mistakes may include someone else’s information on your credit report, inaccurate public records, stale collection accounts, or maybe you were a victim of identity theft.

  7. What do I do if I have a mistake on my credit report? If you have a mistake on your credit report, there is a process to dispute them. My office will help you pull your credit report and dispute any inaccurate information. If a credit reporting agency violates its obligations under the Fair Credit Reporting Act (“FCRA”), you may be entitled to statutory damages up to $1,000.00, plus the credit reporting agency will be required to fix the error. The FCRA also has a fee-shift provision. This means, the credit reporting agency pays your attorney’s fees and costs. Therefore, you will not pay me a penny for my time. To speed up the process, please get a free copy of your credit report at www.annualcreditreport.com. You can also learn more about the FCRA and your rights at http://www.agrussconsumerlaw.com/practices/common-credit-report-errors/.

Share Your Complaints Against Preferred Credit, Inc. Below

We encourage you to post your complaints about Preferred Credit, Inc. Sharing your complaints against this agency can help other consumers understand what to do when this company starts calling. Sharing your experience may help someone else!

HERE’S THE DEAL!

If you are being harassed by Preferred Credit, Inc. over a debt, you may be entitled to money damages – up to $1,000 for harassment, and $500 – $1,500 for illegal robocalls. Under state and federal laws, we will help you based on a fee-shift provision and/or contingency fee, which means the debt collector pays your attorneys’ fees and costs. You won’t owe us a dime for our services. We have settled thousands of debt collection harassment cases, and we’re prepared to help you, too. Contact Mike Agruss Law at 888-572-0176 to stop the harassment once and for all.

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We will respond to you at lightning speed. All of your information will be kept confidential.

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Submitted Comments

Angela
6 months ago
I purchased a Kirby Vacuum several years ago. Made a couple of payments, got behind for 3 months, then began making payments again until the debt was paid in full. Preferred credit actually sent someone to my house, to get me to sign another contract giving them permission to debit my account ever month. In addition to the harassing phone calls and extremely rude CS agents while I still was paying on the debt..they now have on my credit report that I was 150+ days late every month for over two years! Making it appear as if I never paid the debt. I have disputed with the credit bureau, I believe 4-6 times now, and even included bank statements proving not only that I made payments every month that they said I did not, but that the debt was paid in full. The first dispute got the balance updated to zero on one credit report, and still shows a $38 balance on the other two. All of the other disputes, even with the bank statements, have resulted in no change on my report, as it still shows me as only making like one or two payments at the beginning of the loan, and non there after. I have called preferred credit personally, no luck m, just a rude CS treating me like a their for a debt that was paid, and paid every single month. I have done the disputes online, I have called and personally spoke with someone at Experian, and now I’m just pissed. They also have this on my husbands credit report, and I’m pretty sure he wasn’t even on the original contract, however I could be wrong. He wasn’t even home when I did the original deal. This inaccurate horrible information they have listed has cost me quiet a lot over the last several years, and now is causing the interest in a mortgage loan to drastically increase. It is pretty much the only derogatory thing on my credit, besides like a 30 days late I believe. I just want it either off of my credit completely, or updated to the accurate information, showing rhe monthly payments made at the bare minimum. Then I wanna sue their ass for the inaccurate information continuing to be listed 2 years afte the original dispute bringing it to their attention! I don’t know what proof they have or keep giving the credit bureaus that enables them to keep it on my credit report that trumps my bank statements, oh wait, there is none! It’s in black and white, and they know it but just don’t care