You might wonder what an equipment box from a cable company has to do with credit scores.  Well, at Complete Credit Services we see collection accounts for cable companies listed on credit reports all the time.  And the last thing you need when you are trying to build better credit scores is a collection account.  Here is some important information about cable equipment and credit. 

WHO
If you are a cable subscriber using any of the cable company’s boxes, print and keep this article for future reference.

WHEN
When you cancel the cable service, because you are moving or switching, they usually require you to return their equipment.  Don’t leave it in the home or apartment.  Don’t leave it with the landlord or a family member to turn in later.  Turn it in as close to the last day of service as possible.

WHERE
Go to the cable company’s office to turn in the box and any other equipment.  Take a copy of your statement and account number with you to assure proper credit to your account.

WHAT
Get a receipt for the box.  Something in writing on their letterhead showing the date, your name and account number, the make, model number and/or serial number for the equipment you are returning, and an employee’s or manager’s signature. 

If you are also giving them money for your final bill, get a written receipt showing all of the same information listed above, PLUS the words “paid in full, zero balance due”.  Keep these receipts in a secure place at home or in a box with important papers during the move.

HOW THIS HELPS
In the event that an error occurs and the cable company does not properly credit your account with the returned equipment, you might find a collection account on your credit report a few months or years down the road. 
NOTE: By monitoring your credit three times a year as we recommend, it is unlikely to go undiscovered on your credit reports for a few years.

You can mail a dispute letter to the collection agency reporting the account on your report.  Their name and address should be on your credit report.  Be sure to use the collection account number from your report and send a copy of the receipt showing the cable box return, telling them that you do not agree with this alleged bill and owe them nothing.  Request that this inaccurate account be removed from your credit file.  Per the Fair Credit Reporting Act (FCRA), they must respond to your letter within 30 days of receiving it.  Mark your calendar for 35 days from the day you send it. 

Their reply should show that you do not owe the money and may even state that they are contacting the credit bureaus to have it removed.  Make three copies of their letter and send one to each of the three credit bureaus with your letter disputing the collection account and requesting that it be removed from your file.  Be sure to send each bureau a copy of the original receipt for turning in the cable box, too. 

If the collection agency does not reply by the 35th day you marked on your calendar, that indicates that the account cannot be validated and should be removed from your credit reports.  Send each of the three credit bureaus a copy of the original receipt and the collection agency letter telling them that this account is not accurate and was not verified by the company reporting it, therefore it must be removed from your credit report.

Mark your calendar again for another 35 days from the time you mail these letters as the credit bureaus are required by law to respond to your dispute within 30 days after receiving your letter.  If they do not reply, they are in violation of your consumer rights under the FCRA and you can file a complaint with them and the Federal Trade Commission.

By taking a few minutes to get a written receipt for turning in your cable box, you can save yourself countless hours of time and frustration later, in addition to the money saved by not having to pay for something you already took care of but have no proof.  Plus, the lower interest rates you can get with higher credit scores will put more money your pocket, too.