Sequium Asset Solutions On Your Credit Report?

Sequium Asset Solutions: A Pattern of Complaints You Should Know About

Sequium Asset Solutions, LLC, a debt collector in Marietta, Georgia, has faced a disturbing pattern of billing and collection complaints from its customers, according to the Better Business Bureau (BBB). Consumers have reported that Sequium is calling for debts they don’t know about. Sequium has also been found billing the wrong amounts and offering poor customer service when consumers have tried to correct these errors.

Sequium Asset Solutions: Proceed with Caution

The BBB contacted Sequium in May 2023 to request their voluntary cooperation to resolve the complaints. According to the BBB, Sequium has a customer rating of 1/5. Based on customer feedback it appears as though Sequium’s consumers are especially vulnerable to miscommunications and mistakes, which are all too common in the industry. This makes it important to be on guard when you hear from Sequium as they do not have your best interests in mind.

If you are contacted by Sequium, your first task should always be to request a debt validation letter. Under the Fair Debt Collection Practices Act (FDCPA), within five days of first contact, a debt collector must provide you with written proof of the debt. The validation letter should include the amount of the debt, the name of the creditor, and any documentation showing the debt collection is valid. This is especially important in light of the reports of fraudulent charges or mistaken identity associated with Sequium.

Remain Vigilant

Another important step is to watch your credit reports. With millions of consumers finding debts they don’t recognize listed on their credit reports each year, regularly checking your credit reports at each of the three major bureaus—Experian, Equifax, and TransUnion—ensures that you catch inaccuracies early before they can damage your credit for years to come. You have the right to dispute any errors or unverified information on your credit report under the Fair Credit Reporting Act (FCRA). Credit bureaus are required to conduct a reasonable investigation and delete any unverified items if Sequium can’t prove the debt is legitimate.

If you find errors or fraudulent activity on your credit report, start documenting your interactions with Sequium Asset Solutions, including copies of letters, emails, and phone calls right from the start. If you resolve anything with Sequium, make sure it’s documented in writing because verbal promises aren’t enforceable if things go wrong later. Keeping a detailed paper trail protects you in case you have future disagreements or need to take legal action.

In the end, Sequium Asset Solutions is a legitimate business, but the numerous and consistent complaints from its customers about billing issues, incorrect charges, and poor service indicate that you should be vigilant, assertive, and careful to keep accurate records. This can help you avoid debt you don’t owe and keep your credit record clean.

How Sequium Asset Solutions Affects Your Financial Reputation

If a debt is sent for collection, it will be reflected on your credit report, and you’ll be hit in the pocketbook. A collection account is one of the more serious entries that can appear on your credit report. IThe mark will remain on your credit report for up to seven years from the date of the first delinquency. You’ll be denied loans, mortgages, or even favorable credit card rates.

But the implications go deeper than simply your credit score. An increasing number of institutions—from landlords and employers to insurance companies—use credit reports in making their determinations. A collection account can limit your opportunities to rent an apartment, secure a job, or even lower your insurance premiums. In short, your creditworthiness is now a proxy for your financial trustworthiness, and a Sequium collection can severely compromise that.

Additionally, ignoring  a debt from Sequium, and you could land in court. Unpaid or unsatisfied debts can lead to litigation, which could cause your wages to be garnished, your bank accounts to be levied, or a lien to be placed on your property. If this occurs then Sequium will be able to take up to 25 percent of your discretionary income each month.  Even if your lawyer ultimately wins the case, it will still make your financial situation worse and add to the public record of your financial reputation, making it harder to restore.

It’s also helpful to maintain healthy credit habits as much as possible to minimize the extent of the damage a collection could do to your credit. Be sure to pay all current bills on time, keep your credit utilization low, and monitor your credit report for new positive information and negative items that could impact your credit. If you’re struggling with multiple debts or feel the process is too daunting, consider a credit repair service. Keeping your collection accounts in check and actively addressing your credit health as a whole will help you recover from the damage of a Sequium collection.

What To Do When Sequium Contacts You: Step-by-Step Action Plan

A call from Sequium Asset Solutions can be intimidating, but it’s important to approach the interaction methodically. Begin by remaining calm and asking for a validation letter. Per the FDCPA, Sequium is required to provide you with written evidence of the debt, including the original creditor, the amount of the debt, and documentation supporting the debt. This validation is your right, and it confirms that the debt is indeed valid.

Once the debt is verified, look over all the details. If you spot inaccuracies, you can dispute the debt by sending Sequium a letter detailing the inaccuracies. Include any documentation that supports your claim, such as receipts showing that you paid off the debt or credit card statements. The Fair Credit Reporting Act (FCRA) requires Sequium to cease all collection efforts until the dispute is resolved.

Should the debt be verified and collectible, your next step should be negotiating. You have some options here: one option is to negotiate a settlement where you pay less than the full amount owed. Collection companies such as Sequium often buy debts at a discount, so they could be willing to accept a lump-sum payment for less than the full amount. Whatever the agreement, ask for it in writing. That way, you won’t be left guessing at what terms you actually agreed to or dealing with continued collection efforts.

The other option is to negotiate a pay-for-delete settlement. In this case, you ask the debt collector to agree to remove the collection account from your credit report completely in exchange for your paying the debt. If you feel like things are too complicated or overwhelming, you can hire a credit repair company to help you. Companies such as Credit Glory can help you navigate dispute and negotiation with collectors so you don’t have to. They can review your credit report, dispute incorrect debts, and negotiate settlements on your behalf. By remaining calm, informed, and diligent, you can assert control over your debt with Sequium and help prevent or minimize its damaging effects on your credit and your reputation.

Repairing Your Credit After a Collection: Options for Clearing Your Report

The longer you ignore a collection account like the one from Sequium Asset Solutions on your credit report, the more it will hurt you in the long run. In your dealings with them be sure to keep in mind that the FDCPA does offer you some protections from unethical behavior. Specifically, this means they cannot use profane or abusive language; call you before 8 a.m. or after 9 p.m. local time; or call you at work if you’ve told them they can’t (not even to verify the debt if you’ve disputed it). 

Additionally, if you dispute the debt, the collector must stop all collection activity until it can verify the debt’s accuracy. A collector is also prohibited from sharing your personal information with third parties, except in limited circumstances, like talking with your lawyer or reporting to a credit bureau.

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Besides these protections, you can also ask the debt collector to communicate with you only in writing. That way, you can keep a good record of their communications and avoid having to talk to them on the phone. If a debt collector violates any of these protections, the FDCPA gives you the right to file a complaint about that collector or take legal action to stop the collector from continuing to abuse you.

You Don’t Have to Fight Alone

Dealing with credit repair, dispute letters, pay-for-delete negotiations, and other processes that help you improve your credit can be a nightmare for many consumers. Hiring a reputable credit repair company like Credit Glory can help speed up the process. They specialize in credit repair, which includes disputing the inaccurate items on your credit report and negotiating with debt collectors to remove harmful entries.

By taking steps now—whether you read up on your own or hire a pro—you might be able to repair your credit and your finances. You might even be able to get collections out of your report and your score up. You’ll then be on your way to a healthier financial outlook.