How To Deal With Unifin Debt Collector (2024 Guide)
Unifin is a legitimate debt collection agency, but they often have incorrect information. Always verify the debt before making any payments. You can negotiate a settlement to pay less than the full amount, which is often your best option since Unifin bought your debt for pennies on the dollar.
Answer Unifin LawsuitUnifin, Inc. is a debt collection agency. They collect consumer debts like credit cards, medical bills, and loans. If Unifin contacts you, verify the debt before sharing information or making payments. Unifin buys debts from original creditors and lenders. Sometimes their information is wrong. If you owe Unifin, consider negotiating a settlement. You can pay less than the full amount. Debt settlement is common practice. It puts the matter to rest and eases your financial stress.
What Is Unifin, Inc?
Unifin is a debt collection agency based in Skokie, Illinois. They buy charged-off debt from creditors. These creditors include credit card companies, banks, and medical institutions.
Unifin Threatening to Sue You?
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Respond to Unifin NowOnce debt is charged off, the original creditor sells it. You’ll be contacted by the debt collector instead. In this case, Unifin will reach out to you.
You might not know who owns your debt account. Typically, once your debt sells to a collection agency, you work with them. You’ll need to settle or pay off the debt through the collector.
Why Is Unifin Contacting Me?
Unifin contacts you to collect a debt they believe you owe. You may have fallen behind on credit card bills or loan payments. If you didn’t resolve the issue with your original creditor, they sold your debt. Your debt often sells to collectors several months after falling past due.
Keep in mind that debt buyers don’t always have correct facts. The debt-buying business is exploitative and profit-driven. Debt is usually bought and sold in large batches. Collection agencies incorrectly identify the debt owner, outstanding balance, or account status regularly.
If something doesn’t feel right about the debt information, verify it. Don’t ignore the notice. Your credit score will seriously suffer. You may even get sued.
Is Unifin Legit?
Unifin, Inc. is a legitimate debt collection agency. They’ve been in business for 12 years. Just because they’re legit doesn’t mean they’re free of issues.
Currently, Unifin is not rated with the Better Business Bureau (BBB). Its average customer rating on the platform is low. They have 1.3 out of 5 stars.
The Consumer Financial Protection Bureau (CFPB) has investigated almost 600 complaints. Recent complaints about Unifin include:
- Using profane, obscene, or abusive language
- Continuing to contact individuals after receiving cease and desist letters
- Attempting to collect debts that weren’t actually owed
- Threatening to take negative action like hurting credit
- Making frequent phone calls or sending frequent text messages
Many of these behaviors are illegal under the Fair Debt Collection Practices Act. The FDCPA is a federal law created to protect consumer rights.
If you’re experiencing similar issues with Unifin, file a complaint with the CFPB. The CFPB is a government agency that enforces the FDCPA. You also have the right to sue Unifin. You can seek compensation for FDCPA violations.
Note: These reviews and complaints highlight relevant issues. They may not represent all consumers’ experiences.
One final note: Though Unifin is legitimate, scammers may use this name. They try to get money from you. If something feels off about a call, text, or notice, verify it. Make sure the communication isn’t a scam before sharing information. Watch for common debt collection scam red flags.
Do I Have To Pay Unifin?
Before you answer this question, verify the debt is legitimate. Make sure the debt belongs to you. Confirm the amount is correct. You do this by validating or verifying the debt. From there, you can decide your next steps. You can dispute the debt, negotiate a settlement, or pay in full.
Step 1: Send a Debt Verification Letter
Debt validation and debt verification are often used interchangeably. Technically speaking, Unifin must send you a debt validation letter. You can send them a debt verification letter to request more information. You can also use it to dispute a debt. Both letters are important.
If Unifin contacted you but hasn’t sent a debt validation letter, request one. By law, they should send you a letter before or within five days. If they don’t, note the date of their first contact. Request a letter and keep the postmarked envelope when you receive it.
Whether you’ve gotten the debt validation letter or not, you can send verification. Ask for more details about the debt or dispute it. If they can’t verify the debt within 30 days, you probably don’t have to pay.
If Unifin can’t verify the debt, check your credit reports. Make sure it wasn’t inaccurately reported. If it was, dispute the entry with the relevant credit bureau.
If Unifin successfully verifies the debt, decide what to do next.
Step 2: Decide What To Do Next
If Unifin verifies the debt details, you have options. You don’t have to pay in full or risk consequences.
You could:
- Dispute the debt if you think the information is incorrect
- Negotiate a debt settlement and pay less than the full amount
- Ignore the debt, though this isn’t recommended due to negative consequences
Option 1: Dispute the Debt
The debt-buying business can be shady. Because of bulk buying and selling, collection agencies often get information wrong. They may come after you for debt you already paid off. They might pursue debt you discharged in bankruptcy. The debt may never have been yours due to identity theft. They may also try to collect the wrong amount.
If you get a debt validation notice and any details are wrong, dispute it. The process isn’t difficult, but it takes time and energy.
Option 2: Negotiate the Debt and Make a Settlement Offer
You’re sure the debt is yours and Unifin can collect it. Your next best step is probably to negotiate and make a settlement offer. You could pay the debt in full. Many people don’t have the money to do that.
Even if you could pay in full, settlement is worth considering. Why? Unifin likely purchased your debt for pennies on the dollar. If you owe $1,500, they could have paid as little as $15 to $60. They can still turn a profit even if you pay less. You have negotiating power.
Can You Negotiate Every Past-Due Debt?
Not all types of debt can be negotiated. Most consumer debts can be. These include:
- Credit card debt
- Medical bills
- Personal loans
- Payday loans
You can also negotiate back taxes and tax debts with the IRS.
If your debt is backed by collateral, you probably can’t negotiate it. Secured debt includes car loans and mortgages. The lender can take the property back. Federal student loans are also usually non-negotiable. There are increasing ways to get student loan forgiveness, though.
Option 3: Ignore the Debt (Not Recommended)
You may be tempted to ignore Unifin’s calls or notices. Doing so won’t make the debt go away. It can lead to severe consequences. You could be sued. Your wages could be garnished. Your bank account could be frozen.
If Unifin takes you to court, you’ll often pay even more. You may be responsible for legal fees and court costs if you lose. Most experts advise people not to ignore debt collectors.
If you truly can’t pay even a reduced amount, consider filing Chapter 7 bankruptcy. Bankruptcy can help you avoid wage garnishment orders and further credit damage.
What Happens if I Ignore Unifin?
If you ignore Unifin and don’t deal with the debt, you risk:
- Hurting your credit score
- Owing more in the long run due to interest and fees
- Getting sued, which can lead to wage garnishment or losing property
- Feeling even more stressed because debt collectors don’t give up easily
- Having the debt haunt you for many years
Dealing with debt is stressful when you don’t have money. Ignoring your debt can be even more stressful. You’ve taken an important step toward reclaiming your power. You’re effectively dealing with your debt by reading this.
Does Unifin Sue?
Yes. One of Unifin’s debt collection strategies is suing people. They try to get a court judgment to garnish wages.
Whether you’ll be sued depends on many factors. Your state’s wage garnishment laws matter. How long your debt has been in collections matters. The amount you owe matters.
Some debt collectors send documents that look like official court papers. If you get sued, you’re usually served papers in person. The process varies by state. Generally, you’ll get a court summons and a formal complaint document.
You can absolutely respond to the lawsuit on your own. You don’t have to hire a lawyer. If you’re worried about responding alone but can’t afford a lawyer, our partner Solo can help. They’ve helped over 320,000 people respond to debt lawsuits. You can draft an answer letter for free or a small fee.
Take Control of Your Unifin Debt Today
Unifin is a third-party debt collection agency. If Unifin contacts you, get a debt validation letter. Verify the debt is yours and the amount is correct. If it is, consider negotiating a debt settlement. You can pay less than the full amount. You’ll put the matter to rest for good.