CMRE financial services are a broad range of more specific activities such as banking, investing, and insurance. Financial services are limited to the activity of financial services firms and their professionals, while financial products are the actual goods, accounts, or investments they provide.
What are the three basic financial services?. The finance field includes three main subcategories: personal finance, corporate finance, and public (government) finance. Financial services are the processes by which consumers and businesses acquire financial goods. The financial services sector is a primary driver of a nation’s economy.
Financial services refer to services provided by the banks and financial institutions in a financial system. In a broad sense, the term financial services mean mobilization and allocation of savings. Thus, it includes all activities involved in the transformation of savings into investment.
CMRE financial services
Based in Brea, California, CMRE Financial Services has been a collection agency going all the way back to 1974. They describe themselves as a collection and accounts receivable management service for the healthcare industry. Chances are if the company contacts you or you see a collection account on your credit report, it’s for a past medical bill.
Those are easy to forget because it’s common to receive a blizzard of medical bills after a hospital stay for a significant medical procedure. It’s entirely possible a bill slipped through the cracks or was possibly turned over to a collection agency, before even contacting you. The fact that CMRE Financial Services is a collection agency for the healthcare industry is both good and bad.
The good part is that healthcare providers are often willing to settle outstanding debts for less than the full amount, especially if the debt has been hanging around for a few years. But the bad news—as we all know—is that healthcare-related bills can be high, running into several thousand dollars. CMRE Financial Services isn’t a scam, but a legitimate company, and that’s why you shouldn’t ignore them. They have a Better Business Bureau rating of “A+”, which is the BBB’s highest rating on a scale running from A+ to F.
What is CMRE Financial Services?
If you have an unpaid medical bill, you may suffer from collection calls through a debt collector known as CMRE Financial Services Collection. CMRE Financial Services is a collection agency that collects medical debts for medical services rendered on behalf of hospitals and other healthcare businesses.
They make their money by coercing and most times harassing payments from you on behalf of original creditors. They are permitted to do this by opening up a collection account against you on your credit report referenced by the three major credit reporting bureaus. Collection accounts can harm your credit score for nearly a decade, even if you pay off the debt.
The only way to prevent extensive damage to your score is to have the entry removed as soon as possible. This is a difficult process, but it can be accomplished through a series of steps. CMRE Financial Services is a medium-sized debt collection agency headquartered in Brea, California, United States.
They can show up on your credit report under a few different names:
- CMRE Financial Services, Inc.
- CMREFSI
They were founded in California in 1996 and collect bad debts exclusively in the healthcare industry. This includes hospitals, ambulance services, dental practices, doctor’s offices, and more. While they are a legitimate debt collection agency and not a scam, they are not popular among their clients.
They have over 1,000 complaints filed against them with the Consumer Financial Protection Bureau (CFPB) and about 40 complaints filed against them with the Better Business Bureau (BBB), despite their A+ rating. The most common complaint usually details issues with repetitive calls to insurance companies as well as your you. Customers complain of harassment, failure to validate debts, and inaccurate debt reporting.
How to Remove CMRE Financial Services From Your Credit Report
These are the essential steps to take to remove CMRE Financial Services from your credit report. CMRE Financial Services and other debt collectors make their money by coercing payments out of you. They often do this by employing questionable tactics, such as harassment and abuse.
What they don’t want you to know is that you actually are protected from this sort of treatment like harassing phone calls by federal legislation. The Fair Debt Collection Practices Act (FDCPA) is a piece of legislation that regulates the debt collection industry from unethical means of collection.
This includes but is not limited to:
- misrepresenting themselves or information about your debt
- using profane or abusive language
- contacting people close to you regarding your debt
- threatening legal action that they can’t take against you
Important to familiarize yourself
It is important to familiarize yourself with the FDCPA so that you can know if CMRE Financial Services violates it. CMRE Financial Services has been accused of a number of these violations, so it is possible that they may try this with you. I recommend that you request all communication in writing during your first contact with them.
This is well within your right under the FDCPA, and they are required to comply with your request. Communicating in writing will allow you to track your communication with the debt collector and keep them in line when it comes to how they treat you.
When they call you, tell them that you would like to communicate exclusively through U.S. Mail, if they begin to argue with you, let them know that they are in violation of the FDCPA and hang up. Tell them that you will not communicate with them unless it is in writing. Keep in mind, don’t use the information in this article as legal advice. Always seek out a law firm for legal counsel.
If you have already paid the debt, don’t worry.
There is a chance that you can get the entry deleted by requesting a goodwill deletion from CMRE Financial Services. A goodwill deletion means that CMRE Financial Services will remove the collection entry from your credit report out of fairness.
Don’t expect to get a goodwill deletion if you still haven’t paid the debt though. Debt collectors will typically only grant these if you are in good standing. To request a goodwill deletion, write a letter to them explaining why you were late on your payments in the first place and why you would like the entry removed.
If you had extenuating circumstances, such as a job loss, they may be willing to stop reporting the debt. It is important to be polite and sincere in your letter to them. If you write to them demanding that they remove the entry, they are going to be less likely to grant you your request.
What To Do After CMRE Financial Services Contacts You
Putting first things first, if CMRE Financial Services contact you or you see a collection account listed on your credit report, never ignore it! Collection agencies have various strategies to get you to pay a debt, and the situation can get worse with each passing day. You’ll have to make a decision if you want to deal with CMRE Financial Services on your own, or get professional help.
That help can come in the form of a credit repair company, which we’ll discuss shortly. Your first contact with CMRE Financial Services is likely to be by phone, either because they’ve called you or because you’re responding to either a letter from them or a negative entry on your credit report. When it happens, make sure you’re the one asking all the questions, but not answering any of theirs.
Also, immediately write down whatever was discussed in the phone call. As well as who you spoke with, their phone number, and the exact date and time of the call.
In Conclusion
However, we hope we have provided CMRE financial services, we list and describe some of them. Moreover, there are still more of them which you can find Here
However, if there is anything you think we are missing. Don’t hesitate to inform us by dropping your advice in the comment section.
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