Settle Debt With Professional Finance Company

Professional Finance Company is a debt collector working with various creditors. These include healthcare providers, government agencies, and financial services organizations.

A collection account damages your credit for up to seven years. Even paid collections hurt your score. You need to know your rights when dealing with Professional Finance Company.

Professional Finance Company Sued You? Respond Now

You have 14-35 days to file an Answer before Professional Finance Company wins by default. Our partner Solo helps you respond to the lawsuit and negotiate a settlement.

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Is Professional Finance Company Legitimate?

Yes, Professional Finance Company is a legitimate third-party collection service. The company has been in business for over 72 years. Their headquarters are at 5754 W. 11th St. Ste. 100 Greeley, CO.

Here’s how to contact Professional Finance Company:

Phone number: 855-267-7451 or 800-864-4391
Mailing address: P.O. Box 1686, Greely, CO 80632-1686
Physical address: 5754 West 11th Street, Suite 100, Greeley, CO 80634

Professional Finance Company claims their recovery specialists are “consumer advocates.” They say their team treats consumers professionally and courteously to resolve debts.

Who Does Professional Finance Company Collect For?

Professional Finance Company (PFC) collects for municipalities, hospitals, clinics, and retailers. Medical debt makes up the majority of their collection practice. Most of their work involves collecting for medical providers.

PFC works on a contingency basis. They receive a percentage of each debt they successfully collect.

Respond to a Debt Lawsuit From Professional Finance Company

Filing a written Answer is your first step to winning a debt lawsuit. If Professional Finance Company sues you, follow these three critical steps.

Step 1: Answer Each Claim in the Complaint

Your Answer document should respond to specific claims in the Complaint. You received the Complaint when you were notified of the lawsuit.

You can admit, deny, or deny due to lack of knowledge. Attorneys recommend denying as many claims as possible. Denying forces Professional Finance Company to prove their case with documentation.

Our partner Solo can help you draft a proper Answer to the lawsuit.

Step 2: Assert Your Affirmative Defenses

An affirmative defense is a legal reason Professional Finance Company shouldn’t win. The statute of limitations is a common affirmative defense. Dozens of other defenses can strengthen your case.

Step 3: File the Answer and Send a Copy

You have 14-35 days to file your Answer, depending on your state. Send a copy of your Answer to Professional Finance Company via certified mail. Request a return receipt to confirm delivery.

Filing an Answer doesn’t end a lawsuit. You must continue responding to court requests. Appear for all hearings until the case is settled.

How to Settle a Lawsuit With Professional Finance Company

Settlement agreements are the easiest way to end a lawsuit. Our partner Solo makes it easy to negotiate and settle your debt.

Follow these steps to initiate a settlement:

Gather all relevant documents related to the lawsuit and communications.
Take stock of your finances and determine your maximum settlement amount.
Make an initial offer lower than your maximum to leave room for negotiation.
Initiate communication with Professional Finance Company with your settlement offer.
Get the settlement agreement in writing before making any payment.
Follow through with the agreed-upon payment amount and schedule.

Know Your Rights Under the FDCPA

The Fair Debt Collection Practices Act (FDCPA) protects you from harassment and abuse. The FDCPA forbids specific actions when collecting a debt.

Debt collectors cannot:

Contact you before 8:00 a.m. or after 9 p.m.
Contact your family, employer, or friends regarding the debt
Contact you at work after you’ve said it’s inconvenient
Use abusive or threatening language
Misrepresent information about the debt
Threaten legal action they cannot or will not take

Terminate the conversation if Professional Finance Company violates these rules. File a complaint with the Consumer Financial Protection Bureau. Keep all communication with debt collectors in writing.

Request Debt Validation From Professional Finance Company

Your first step is requesting debt validation. Debt validation ensures the information is correct and the debt belongs to you.

Never negotiate or provide information before sending a Debt Validation Letter. Send your letter within 30 days of initial contact for maximum legal protection.

The collector has five days to provide you with:

The name of the collection agency
The name of the original creditor
The exact amount of the debt
Notice of your right to dispute the debt
Mailed proof of the debt

Failure to provide this information violates the FDCPA. Send a Debt Validation Letter even if you miss the thirty-day window. The letter is still valuable for verifying debt accuracy.

File a Dispute With Credit Reporting Agencies

Request a copy of your credit report to verify accuracy. The debt collection process often produces errors. Inaccurate information commonly appears on credit reports.

Check for inaccuracies in:

The balance owed
The account number
The name on the account
The payment status on the account
The date the account was opened or closed
Any other reported information

File a dispute with the credit bureau if you find incorrect information. Ask that the account be removed. Inaccurate information makes verification difficult and can result in removal.

Important Considerations Before Paying Professional Finance Company

Even legitimate debts are subject to FDCPA protections. Know your rights and hold collectors accountable for violations.

Professional Finance Company often purchases debts from original creditors. Information can be lost or mishandled during these transactions. The collection agency must provide accurate information to you and credit bureaus.

Send a Debt Validation Letter even if you plan to pay. Ensure all information reported to credit bureaus is accurate.

Paying the debt may not help your credit score. In some cases, payment can harm your score. Most debts only remain on your credit report for seven years.

Entering a payment agreement near the end of that timeframe could extend the negative mark. You could restart the clock on how long the debt impacts your credit.

Understand the consequences before agreeing to any payment plan with Professional Finance Company.

Frequently Asked Questions

What is Professional Finance Company and are they legitimate?

Professional Finance Company is a legitimate third-party debt collector that has been in business for over 72 years. They primarily collect medical debts for healthcare providers, municipalities, and retailers on a contingency basis.

How do I respond to a lawsuit from Professional Finance Company?

File a written Answer with the court within 14-35 days depending on your state. Deny claims that force them to prove their case, assert affirmative defenses like statute of limitations, and send a copy to Professional Finance Company via certified mail.

Can I settle my debt with Professional Finance Company for less than I owe?

Yes, you can negotiate a settlement for less than the full amount. Start with a lower offer than your maximum budget, get any agreement in writing before paying, and consider using a settlement service to handle negotiations professionally.

What is a debt validation letter and why do I need one?

A debt validation letter requests proof that the debt is accurate and belongs to you. Send it within 30 days of first contact to maintain legal protections. The collector has five days to provide the collection agency name, original creditor, debt amount, and proof of the debt.

What are my rights when Professional Finance Company contacts me?

Under the FDCPA, Professional Finance Company cannot contact you before 8 a.m. or after 9 p.m., contact your family or employer about the debt, use abusive language, or misrepresent debt information. They must stop contacting you if you request it in writing.

How to Settle Debt With Professional Finance Company