If you have noticed an account with Sequium Asset Solutions on your credit report, you might also notice that this has negatively affected your credit score. It has probably caused you to question why Sequium Asset Solutions is on your credit report.
Sequium is a debt collection firm based in Georgia. They work on behalf of other companies to recover old, unpaid accounts. Sequium Asset Solutions also operates under the name Focus Receivables Management.
Is Sequium Asset Solutions A Scam?
Have you received so many calls from this company that you wonder if they are a marketing company or a scam? You’re not alone. Many consumers have dealt with annoying calls, letters and texts from Sequium. To sum it up, although Sequium’s collection practices might be bothersome, they are a legitimate debt collector. If Sequium contacts you, it is best to communicate with them. But before you do, learn the right strategy to respond to their attempts to contact you. You’ll be ready to do this after you read this guide.
Sequium Asset Solutions Reviews
Sequium Asset Solutions is not accredited by the Better Business Bureau. The company has received a number of complaints from consumers and reviews are not positive. Many complaints arise from consumers who allege they are not liable for the debt on their credit report, and that they never had a contract with the original debtor. Consumers also mention that Sequium would not provide documentation proving they own the debt.
Overall, more than 1000 complaints about Sequium have been filed with the Consumer Financial Protection Bureau (CFPB). Many consumers complain that Sequium violates the FDCPA and the Fair Credit Reporting Act (FCRA) with their aggressive collection tactics. This is why it is critical to know your consumer rights concerning debt collectors, and keep records of their contact with you. Report any violation to the CFPB.
Remove Sequium Asset Solutions
Step 1: Debt Validation
If you have a collections account with Sequium, the first step is to validate that you actually own the debt. It is not uncommon to find that a collections agency might have made a mistake in the account owner’s identity. To validate the debt, send this free debt validation letter to Sequium. They have to respond within 30 days with proof that you are the owner of the debt, or remove the collections account from your credit report.
Send the letter via certified USPS mail to:
1130 Northchase Parkway
Suite 150
Marietta GA, 30067
Step 2: Dispute The Debt
If you discover any mistakes in the debt validation response, you have a right to dispute the debt. Errors to look for are the name, account date details, amount owed, and the last payment made on the account. If you find these details don’t match up to your records, fill out this debt dispute template letter and mail it to Sequium. You will also want to send this dispute to the three credit reporting bureaus: TransUnion, Equifax and Experian. Once these bureaus receive your dispute, Sequium has to prove that you are wrong, or remove the account.
It’s helpful to know the common mistakes that could give you cause to file a dispute with Sequium:
- The amount of the debt is wrong
- The account owner is not actually you; identity theft is common
- The date of the debt is past the statute of limitations in your state. (Remember, in many states, this period is 7 years.)
Step 3: Negotiate A Pay to Delete Arrangement With Sequium
After you’ve looked for mistakes on the debt details but have not found any, there is one more strategy that can help. You can ask for a “pay to delete” arrangement. This is an offer to pay part of the debt and in return, the debt collector removes the account from your credit history.
Note that you do not have to negotiate to pay the full amount. In fact, you can start by negotiating 20-30% of the total amount. Bear in mind that you should only negotiate to an amount that you can afford to pay. Do not negotiate an amount that is beyond your budget, or you can potentially do further damage to your credit.
It is up to the debt collections agency to accept your offer. They are not obligated to agree to a pay for delete arrangement. It’s in your best interest to always communicate with them in a timely, patient and professional manner throughout the process. Doing this will give you the best chance that the collector will agree to your proposal.
Ultimately, your goal is to remove the collections account from your credit report. The second best outcome is to have a “paid” remark on the account. If Sequium will not agree to a pay for delete arrangement, ask that after you pay the agreed amount, they note the account as “paid collections.” This is not as damaging on your credit report as “unpaid collections.”
Make Good Credit Your Goal
It requires action and persistence to get a collection account off your credit history. Now that you know the strategy to address why Sequium Asset Solutions is on your credit report, and try to remove this collector, you can work toward removing any other collections accounts you have. You can also use services such as the Cambio app to help you track collections accounts that appear, or any negative marks against your credit. The app can help you monitor your credit and raise your score over time. With consistent effort and vigilance, you can improve not only your credit score, but your whole financial future.