Average personal loan debt: $8,018. Personal loans are unsecured debt governed by the original loan agreement and state law. If in collections, FDCPA applies. Many collection agencies lack original documentation.
Common Columbia Ultimate Violations
Collecting on debts discharged in bankruptcy
Failing to update credit reports after dispute
Adding unauthorized interest charges
Personal Loan Debt Dispute Strategies
1
Demand debt validation under FDCPA
2
Check statute of limitations in your state
3
Verify the amount is correct
4
Negotiate settlement if valid
5
Dispute credit reporting errors under FCRA
Tips Against Columbia Ultimate
If you filed bankruptcy, send them your discharge papers immediately
Columbia collects utility and telecom debts — check final statements
Demand they remove inaccurate entries from all three credit bureaus