Have you been getting calls from Caine & Weiner? In case you’re wondering what this company is about, you should know they are a debt collection agency. Caine & Weiner is a debt collector, who buys old unpaid accounts from companies and tries to collect on unrecovered debts. If they report the debt as a collections account to credit bureaus, your score goes down. Low scores make it almost impossible to get a loan or credit card. So let’s talk about 3 simple steps to delete Caine and Weiner from your credit report and move toward better credit.
Is Caine and Weiner Legitimate?
Caine and Weiner is a debt collection agency with locations in California, Illinois, Texas and New York. This company has been around since the 1930s and they deal with domestic and international accounts. They are actually one of the oldest collections agencies in the business. Although this is a legitimate business, they have received consumer complaints for their collections tactics, and for trying to collect on accounts that to not belong to the people being called.
Since this is a legitimate debt collection agency, you should respond to them when they contact you about an unpaid debt. This article will help you respond in a way that gives you the best chance of a favorable outcome.
Who Does Caine and Weiner Collect For?
Caine & Weiner buys up unpaid debts from lots of different businesses – credit cards, retail companies, healthcare companies, utilities, and banks. The debts they buy are usually long overdue. Caine & Weiner tries to collect from debtors by calling and sending letters demanding payment.
Step 1: Validate the Debt
When this debt collector contacts you, you have 30 days to request that they validate the debt. This means, they have to prove that the debt is yours and that you owe the amount they claim you owe. In the validation they must provide:
- The amount you owe
- Who the original creditor is that you owe money to
- How to get the original creditor’s name
- What to do if you don’t believe the account is yours
To validate the debt, use this free validation template and mail it to:
Step 2: Dispute the Debt
When you review the information that Caine and Weiner sends in response to your debt validation request, look for any errors. Make sure that you are the actual owner of the debt. Many debt collectors make a mistake in the account ownership, due to identity theft, so this is something to keep in mind.
Here are typical inaccuracies to watch for when the collection agency responds to your validation request:
- The amount of the debt reported is wrong
- The account owner is not actually you
- The date of the debt is past the statute of limitations in your state.
To dispute the debt, gather any records you have that prove that they made an error and send a copy of your evidence along with a dispute letter. To dispute a debt, use this free dispute template from CambioMoney.
Dispute with The Three Credit Bureaus
At the same time, you should dispute the debt to all three credit bureaus. They will also investigate and either delete the account from your credit report or confirm that you owe the money. If this seems like a lot of work, Cambio can offer help in identifying errors on the account and disputing them on your behalf
Step 3: Negotiate a Pay For Delete with Caine and Weiner
If the debt is legitimately yours, but more than you can pay at once, you could try asking for a “pay for delete” arrangement. Offer to pay part of what you owe. You can start by negotiating 20-30% of the total amount. Most consumers will end up paying 40-60% of the total debt amount. In return for your payment, Caine & Weiner agrees to remove it from your credit history. Ask the agency to put the agreement in writing.
You can also ask to make small monthly payments. If you pay regularly, request they change the status to “paid collections.” After all, this looks better on your credit report than “unpaid collections,” because it indicates you are taking responsibility for your debt.
Keeping Collectors Away – Forever
To keep Caine & Weiner off your credit report in the future, be meticulous about paying all bills on time. If you know you will be late on a payment, communicate with your creditor to ask for a date extension. Further, you should use only the credit you have to use, and pay off your credit cards each month if possible.
Remember to check your credit report regularly for mistakes, so you can dispute them fast. As you rebuild credit, this is a good habit to establish so you are never surprised at changes in your credit score.
It takes patience and persistence to erase a collection agency from your credit history. But there’s no better time to take action. Now that you know the 3 simple steps to delete Caine & Weiner from your credit report, you can aim for success and a stronger financial future. With consistency, knowledge and effort, your credit score can recover.
