What Is RTR Financial Services? Is It Legit?

Too many consumers are overwhelmed with debt for reasons beyond their control. If you fall into this category and are being hounded by RTR Financial Services, it’s important to know what it is, how the law can protect you during these difficult times, and how you can remove a collection agency from your credit report with the help of a credit repair specialist. 

What Is RTR Financial Services?

RTR Financial Services is a debt collection agency based in Staten Island, New York. It works with consumers to manage outstanding debts that were transferred to it for collection. The agency either purchased your debt outright from the original creditor or is collecting on behalf of the organization.

If you get a call from RTR Financial Services or see it listed on your credit report as a collections amount, this means that an unpaid balance owed to a lender or service provider was transferred to it for collection. 

RTR Financial Services is a legitimate debt collection company that operates within legal frameworks and can collect debts from you on behalf of its clients. However, if you receive a call from someone claiming to be from RTR, make sure to verify the debts you owe before agreeing to make any payments.

Having RTR Financial Services collections on your credit report can significantly damage your credit score. It can also remain on the report for up to seven years regardless of whether you pay it or not.

Who Are Clients of RTR ?

RTR primarily serves the healthcare sector. Its clientele ranges from large hospital systems to smaller, community-based clinics. It works for these institutions to recover unpaid debt from patients who have utilized their healthcare services but have not yet paid for them. 

Your Rights Under the FDCPA

If you receive a call from RTR Financial Services, know that you have certain protections under the Fair Debt Collection Practices Act (FDCPA). This statute is specifically enacted to protect consumers from illegal or overly aggressive actions by debt collection agencies, such as threatening to sue, harassment, verbal abuse, misrepresentation, etc. 

Here are some of the key provisions of the FDCPA:

  • You have the right to ask RTR Financial Services for proof of the debt. 
  • You have the right to protection against harassment, including threats, violence, and excessive or abusive phone calls. 
  • You can sue the entire agency or just an individual at the agency.
  • You can ban the collector from calling you at inconvenient times. You can also prohibit them from contacting you altogether. 
  • RTR Financial Services cannot release information about your debt to anyone else. It should remain a private matter between you and the debt collector. 

In addition, when RTR contacts you for the first time, it must fully disclose the details of the situation, a process sometimes called a ‘mini-Miranda.’ You must be told the company’s name, the amount of debt you owe, and that you have the right to ask for verification and can dispute the debt. It must also send you this information in writing within five business days after the call. 

Remember, RTR cannot call you constantly or at inconvenient times, use abusive or threatening language, call from different or blocked numbers, or represent itself as the police or an attorney. Any threats to seize your property or assets are also prohibited. 

Get a Pro to Help With RTR

Keep in mind that in some cases, settling your debt may actually hurt your score more, and our credit repair specialists can advise you on the best course of action to take with RTR. For example, it is possible to remove a collection amount from your credit history before the seven-year term has expired if you have the help of a credit repair specialist like The Phenix Group. While debt collection agencies generally do not want you to know this, you have a right to be informed.

We can also help you challenge any inaccurate, unsubstantiated, and unfair information on your report, such as late payments, repossessions, bankruptcies, and other situations that are damaging your credit. 

For more credit-savvy tips, be sure to read our posts on whether parking tickets can go to collections and what ARS is!