If you’re getting phone calls or letters from Creditors’ Discount & Audit (CDA), don’t be alarmed. CDA is a debt collection agency, but there’s a limit to what they’re legally allowed to do.
Here, you’ll find all the information you need on what exactly Creditors’ Discount & Audit Company is, who they collect debts for, and what you can do to put an end to their collection efforts.
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What is Creditors’ Discount & Audit?
Creditors’ Discount & Audit (CDA) is a debt collection agency based in Illinois, and they’ve been in business since their founding in 1947. 1 They collect debts on behalf of businesses in various industries.
Specifically, CDA performs the following debt collection services: 2 1
- Third-party debt collection
- Skip tracing
- Data processing
- Early-out programs
- Collection litigation
- Payment processing
- Staff training and education on debt recovery
Creditors’ Discount & Audit only gets paid for their collection services if they actually get money from you. 1 This could give them incentive to put a great deal of pressure on you to pay up.
What is CDA/Pontiac on my credit report?
CDA/Pontiac is a credit-reporting code that may appear on your credit report if Creditors’ Discount & Audit has reported a collection account to the credit bureaus under your name. They’ll do this if they believe you owe a debt to one of their clients.
The name “Pontiac” likely appears alongside CDA because the company is located near Pontiac, IL (around 20 miles away), although this is unconfirmed.
According to CDA, they report debts to Experian and TransUnion once a debt has been marked as “unresolved” for 60 days (or 180 days for medical debts). 3
Who does Creditors’ Discount & Audit collect debts for?
According to their website, Creditors’ Discount & Audit Company collects debts on behalf of businesses and organizations in the following industries: 4
- Healthcare
- Banking
- Utilities
- Retail
If you’re getting calls or letters from CDA or you’re seeing their name on your credit report, it probably means that you have an overdue medical or utility bill or you have overdue debts with one of your creditors.
Is Creditors’ Discount & Audit a scam?
No, Creditors’ Discount & Audit isn’t a scam. They’re a legitimate debt collector, and they have accreditation by ACA International and the Better Business Bureau (BBB). 5 6
However, debt collectors have been known to violate consumer rights in the past, and there’s no guarantee that CDA is any different. Moreover, fraudsters sometimes pose as legit debt collectors to trick innocent consumers into paying them money.
For this reason, be sure to confirm that you actually owe any debts you’re contacted about before you send any payments or disclose any of your personal information. You can verify your debt by contacting Creditors’ Discount & Audit Company directly using the contact details below.
How to deal with CDA
Ready to take control of your debt with CDA? Choose the methods you want to attempt below.
Dispute Collections If the debt is inaccurate, learn how to remove the collection from your credit report. | Stop Harassment If your rights are being violated, learn how to fight back using protections under federal law. |
Verify Debt If you're not certain the debt is yours, request more information (and temporarily stop collection efforts). | Pay Debt Collector If you're ready to pay up, learn how to do it in a way that keeps you on better financial footing. |
