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Home Debt Debt Collection Collection Agencies CMRE Financial Services

How to Remove CMRE Financial Services from Your Credit Report

CMRE collection company getting removed from credit report

At a glance

  • CMRE Financial Services is a legitimate company that collects medical debt.
  • In this article, we’ll talk about what they do, what your rights are when you deal with them, and how to get them off your credit report.
  • CMRE Financial Services is likely damaging your credit score.

Get expert help. Call now to remove CMRE Financial Services from your credit report.

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Written by FinanceJar Team

Reviewed by Robert Jellison and Victoria Scanlon

Dec 1, 2021

Fresh advice you can trust

We promise to always deliver the best financial advice that we can. That's our first priority, and we take it seriously. Our writers and editors follow strict editorial standards and operate independently from our advertisers and affiliates. Learn more about how we make money.

Table of Contents

  1. What is CMRE Financial Services?
  2. Who does CMRE Financial Services collect for?
  3. Is CMRE Financial Services a scam?
  4. Medical collections vs. non-medical collections
  5. Why is CMRE Financial Services calling me?
  6. How to file a complaint against CMRE Financial Services
  7. How to get CMRE Financial Services off your credit report

What is CMRE Financial Services?

Founded in 1974, CMRE Financial Services, Inc. collects medical debt and manages accounts receivable for hospitals, independent physicians, and other entities in the healthcare industry. 1 2

In February 2020, CMRE Financial Services was acquired by Meduit Group, a company specializing in revenue cycle management. Meduit partners with several medical debt collections agencies. 3

CMRE Financial Services currently offers the following services:

  • Self-pay services (offered through their affiliate, Health Revenue Management Group)
  • Bad debt recovery services
  • Insurance claims management
  • Workers’ compensation services

What is CMREFSI?

“CMREFSI” is another way that CMRE Financial Services may appear on your credit report. Debt items from CMRE Financial Services may also appear under the following names:

  • CMRE Financial Services, Inc.
  • CMRE Financial
  • CMRE Collections
  • CMRE Finance
  • CMRE FSI

Who does CMRE Financial Services collect for?

CMRE Financial Services collects medical debt on behalf of the following: 2

  • Hospitals, including children’s hospitals
  • Ambulance services
  • Physician and dental practices
  • Billing companies
  • Other healthcare systems

Is CMRE Financial Services a scam?

No, CMRE Financial Services isn’t a scam. Although they have had a string of recent lawsuits brought against them, CMRE Financial Services is a legitimate company.

CMRE Financial Services’ parent company within Meduit, Receivables Management Partners, was accredited by the Better Business Bureau in 1992.

However, scammers may claim to be collectors from CMRE Financial Services. If you want to check what debts (if any) you owe to CMRE Financial Services, visit cmre.virtualcollector.net.

CMRE Financial Services Contact Information

If you want to remove CMRE Financial Services from your credit report, write to their address:

CMRE Financial Services Logo

Address: 3075 E. Imperial Hwy, Suite 200
Brea, CA 92821
Phone Number: (800) 783-9118
Website: www.cmrefsi.com

Disputing an incorrect entry on your credit report can be stressful and difficult. Consider working with a professional.

Get a Free Consultation
finance jar gold coin

How to tell if a debt collection notice from CMRE Financial Services is a scam

If a debt collection agent calls you, you should receive written confirmation immediately afterward. If you don’t, it might be a scam. Be especially cautious of anyone asking you to pay a debt that you don’t recognize (or that you believe you already settled), and be sure to ask questions during the call to verify their affiliation with CMRE Financial Services.

CMRE Financial Services may still behave unethically

Even though CMRE Financial Services isn’t a scam, it’s possible they’ll still do something that violates your rights under the Fair Debt Collection Practices Act (FDCPA). Your rights (and how you can enforce them) are outlined further down in this article.

VIDEO: CMRE Financial Services in 2 Minutes—Fix Your Credit Report & Know Your Rights

Medical collections vs. non-medical collections

CMRE Financial Services often deals with medical bill collections. Medical and non-medical collections have some key differences in terms of how the debt is handled by debt collection agencies, the credit bureaus, and the main scoring models.

If you see medical debt on your credit report, there are a few implications you should be aware of:

  • Your debt is already several months old: Medical institutions usually wait 60–120 days before selling your debt to debt collectors. 4 After that, the credit bureaus wait an additional 180 days before adding the collection account to your report to give you time to make arrangements with your insurance company or set up a payment plan. 4
  • CMRE Financial Services probably owns your debt: Medical institutions don’t generally report to the credit bureaus. For this reason, the fact that your debt is showing up on your credit report indicates that it was sold to a company that does report to the credit bureaus.
  • Medical collections aren’t as harmful to your credit: Although medical bills do affect your credit score if they’re sent to collections, in newer credit scoring models developed by FICO and VantageScore (specifically FICO 9 and VantageScore 4.0), medical collections don’t hurt your credit score as much as non-medical collections. 5 6

Why is CMRE Financial Services calling me?

The reason debt collectors call you is that they believe you have an outstanding debt. When CMRE Financial Services calls, ask them to send a written notice detailing the debt they’re collecting, known as a debt validation letter, if they haven’t already.

In accordance with the FDCPA, all debt collectors are required to send this letter within 5 days of first contacting you. 7 It must contain the following information:

  • The amount you owe
  • Your name
  • A statement informing you of your right to dispute the debt within 30 days of receiving their letter
  • A statement informing you that if you dispute the debt in writing, they must mail you evidence of the debt within the 30 days
  • A statement informing you that within 30 days after you’ve received the letter, you can send them a written request to provide the name and address of the lender or healthcare provider that sold them the debt

CMRE Financial Services representatives will keep trying to contact you unless you either pay the debt or reach an agreement with them.

However, there are restrictions on how they can go about contacting you.

Restrictions on CMRE Financial Services

The FDCPA protects you from debt collector harassment by making it illegal for debt collectors to do any of the following: 7

  • Call you multiple times per day
  • Call you at night (before 8 am or after 9 pm, your time)
  • Call you at work if you tell them you can’t receive calls at work
  • Make automated calls or send pre-recorded messages telling you to make payments
  • Contact any third party, including your family, friends, or coworkers, to discuss your debt
  • Intimidate you or threaten to harm you, sue you, arrest you, or damage your credit
  • Lie about your debt and try to collect more than you owe
  • Accuse you of breaking the law or claim that not paying might result in jail time (you can’t go to jail over unpaid debt, unless you owe money to the IRS because you intentionally committed tax fraud)

It’s a good idea to familiarize yourself with your rights by reading the FDCPA and Telephone Consumer Protection Act.

finance jar gold coin

Keep records of letters and phone calls

If you think that CMRE Financial Services may be violating your rights, then it’s a good idea to record your phone calls, save any letters they send you, and keep records of when they’ve contacted you. This will make things much easier if you need to take legal action against them in the future.

Can I sue CMRE Financial Services for harassment?

Yes, you can sue CMRE Financial Services for harassment. If you can show that the debt collection company has violated your rights under the FDCPA, then you can collect $1,000 in statutory damages for each violation as well as payment for any damages that you’ve sustained as a result of their violation. 7 CMRE Financial Services will also be required to pay your attorney fees and court costs.

How to file a complaint against CMRE Financial Services

If CMRE Financial Services has violated your rights under the FDCPA or done something illegal, then you can report them to the Federal Trade Commission, the Consumer Financial Protection Bureau, or your state attorney general. From there, you’ll be able to find out whether you can also sue CMRE Financial Services.

Another option is filing a complaint on the Better Business Bureau (BBB) website, but this might not have the outcome you’re hoping for. Bear in mind that the BBB is actually a private organization that has no affiliation with the US government. They’ll forward your complaint to CMRE Financial Services, but there’s no guarantee that the agency will address it in a satisfactory manner. What’s more, if your dispute is sent to an arbitrator, then you may give up your right to take CMRE Financial Services to court.

How to get CMRE Financial Services off your credit report

If your credit score is suffering as a result of CMRE Financial Services debt, then don’t worry. You can get medical collections removed from your credit report by following these steps:

  1. Tell CMRE Financial Services to stop calling you
  2. Ask your insurance provider to cover your debt
  3. Send a debt verification letter
  4. Send a credit dispute letter
  5. Request a goodwill deletion
  6. Negotiate “pay for delete”
  7. Negotiate a debt settlement
  8. Get help from a credit expert

Everyone should follow the first three steps. The ones after that are situational, and you should follow the ones that are appropriate for your circumstances.

Before you do anything else: Ask CMRE Financial Services to stop calling you

It’s important to keep a paper trail of all your communications with CMRE Financial Services, so make sure to only communicate with them in writing. Make sure to date your letters and send them by certified mail. If you’re not sure where to start, then check out the sample letters provided by the CFPB.

If you ask CMRE Financial Services to stop contacting you altogether, then they’re legally obligated to do so. 7 However, ignoring debt collectors can have negative consequences—in the end, you may get sued, and you may even have your wages garnished. It’s smarter to engage with them tactically to ensure you don’t have to pay, or you get the best deal you can.

If you owe medical debt: Ask your insurance provider to cover it

As part of the National Consumer Assistance Plan (an initiative launched by the three major credit bureaus), any medical collections that have been paid or are currently being paid by your insurance company will be removed from your credit report. 8

If you pay off the debts yourself, then CMRE Financial Services could stay on your credit report for up to 7 years. However, if you have health insurance and can work something out with your insurance provider and get them to pay it off, then Experian, Equifax, and TransUnion will remove the collection account from your credit reports.

If that doesn’t work: Send a debt verification letter

Sending a debt verification letter asking the collection agency to provide evidence of your debt is one of the quickest and easiest ways of getting rid of a debt item in your credit history.  It’s also an easy way of figuring out if the debt collector is a scam agency.

When you send a debt verification letter, third-party collectors like CMRE Financial Services are legally required to show evidence that you have an outstanding debt. If they can’t do that, then they have no choice but to delete it from your records. 9

Debt Verification Letter Template

Debt Verification Letter

Use this debt verification letter template if a debt collection agency has contacted you about a debt and you want to dispute it. The debt collection agency is obligated to respond to your letter with verification of the debt.

PDF Word

Once CMRE Financial Services receives your debt verification letter, they’re also required by law to stop contacting you about your debt until they’ve sent you evidence that you actually owe it. 7

Debt collection agencies sometimes don’t have adequate evidence, whether you owe the listed amount or not. If CMRE Financial Services isn’t able to verify your debt (or if you discover that the debt is more than a few years old), then proceed to the next step.

On the other hand, if it turns out that your debt is both legitimate and recent, then proceed to one of the steps after that, depending on your circumstances.

finance jar gold coin

Don’t confuse debt validation with debt verification

Although the terms are very similar, these are two different things. The debt validation letter is the initial written communication that CMRE Financial Services is legally obligated to send you. You can then reply with a debt verification letter, which requires them to provide evidence of your debt.

If the debt is old or invalid: Send a credit dispute letter to the three credit bureaus

You can write a credit dispute letter to Experian, Equifax, or TransUnion to delete the collection account from your credit report if the debt is an error or it’s past the 7-year credit-reporting limit.

Credit dispute letter to credit bureau

Credit Dispute Letter to a Credit Bureau

Use this credit dispute letter template to file a dispute directly with one of the credit bureaus. Mistakes in your personal information (e.g., an incorrect address), as well as credit accounts that you don't recognize, should usually be disputed with the bureaus. Often they're the result of the bureau confusing you for someone else.

PDF Word

When you dispute the item on your credit report, make sure to send along any supporting documentation that you have on hand. Credit bureaus have 30 days to respond to your dispute. If they don’t, then they’re legally obligated to remove the debt item. 9

If your debt is invalid or time-barred (meaning it’s passed the statute of limitations on debt in your state), then you can also send CMRE Financial Services a letter telling them to stop contacting you. However, this doesn’t affect the status of your debt, so it’s not a good idea if your debt is still current.

How to tell if your debt is past the statute of limitations

The statute of limitations on most debts is between 3 and 6 years, but this depends on several factors, including the state you live in. The best approach is to check your state attorney general’s website and email their office if the information you’re looking for isn’t available online.

If you’ve already paid the debt: Request a goodwill deletion

It may be possible to get a paid collection account removed from your credit report by asking for something called a goodwill deletion or goodwill adjustment.

To do this, send a goodwill letter to CMRE Financial Services explaining the circumstances that led to your delinquency. This is usually only an option if you’ve already paid the debt in full.

You’ll want to include any supporting evidence or documentation you have, including:

  • An explanation for why you didn’t pay your bill
  • Records demonstrating that you usually pay your debts
  • Examples of how the negative mark is affecting your life, such as making it difficult for you to take out a mortgage

You can also call CMRE Financial Services on the phone, although there’s a chance that the person you end up speaking to won’t have the authority to make changes to your records.

It’s important to bear in mind that sending a goodwill letter is a long shot, and the company you speak to is under no obligation to change your report. However, it doesn’t cost you anything, so there’s no reason not to try.

If the debt is recent and unpaid: Negotiate “pay for delete”

If you still owe the debt and it’s too soon to get it removed from your credit report, you’ll probably have to pay it. However, you might be able to convince CMRE Financial Services to remove their record of your debt after you’ve paid it by sending a pay-for-delete request.

A pay-for-delete request is different from a goodwill letter because it applies to debts that you haven’t yet paid off. It’s a negotiation where you agree to pay off your debt, and in return, CMRE Financial Services promises to remove the negative mark on your credit report that’s associated with it.

The first step is to use a pay-for-delete letter template to draft your letter and send it to CMRE Financial Services. It’s very important to get written confirmation that they’ll remove the collection from your credit report once you’re all paid up.

Once you’ve received written confirmation from CMRE Financial Services and paid your debt, you should monitor your credit reports to make sure that they follow through. If the collection account is still on your credit report in a couple of months, then follow up with them and use the letter they sent you to remind them of their obligation.

If the debt is old and unpaid: Negotiate for a debt settlement

If your debt is already fairly old, then there’s a chance that CMRE Financial Services will accept less than the full amount you owe (a practice known as debt settlement) in order to minimize their losses. The reason for this is simple: they know that older debts are harder to collect payments for.

According to a report published in 2021 by the Congressional Research Service, “In general, debt collectors expect to collect only a fraction of the face value of any particular debt, knowing that some consumers will never pay back their debts in full.” 10 CMRE Financial Services almost certainly bought your debt for only a small fraction of what you originally owed, meaning that they’ll make a profit even with a debt settlement.

Before trying to settle medical collections, you should carefully review your financial situation and come up with a realistic amount to offer. If you want, you can negotiate through a debt settlement agency, but be wary of scammers and avoid companies that charge you large amounts upfront.

Alternatively, you can just speak to someone from CMRE Financial Services over the phone. However, you should make sure to get the agreement in writing before you make any payments.

Bear in mind that debt settlements still hurt your credit score, and like most other negative marks, they’ll remain on your credit report for up to seven years. 11 With that said, lenders will probably look more favorably on a settled debt than a debt in collection.

If you feel overwhelmed: Get help from a credit repair company

If you feel like you might be in over your head, then seek professional assistance from a credit repair expert to remove CMRE Financial Services collection items from your credit report. This can save you time and help you avoid the frustration of trying to remove their negative marks on your own.

Ultimately, most collection accounts will stay on your credit report for 7 years after your first missed payment. Even if you pay off your debt to CMRE Financial Services, it will probably remain on your credit report unless you can persuade the collection agency to remove it.

Learn more about CMRE Financial Services’s impact on your credit score:

  • Does paying off collections improve your credit score?
  • How many points will my credit score increase after I pay off collections?
  • How to rebuild your credit after having a debt sent to collections

Takeaway: CMRE Financial Services is a legitimate debt collection agency

  • CMRE Financial Services is a medical debt collection agency, which means they buy debts that medical institutions have charged off.
  • CMRE Financial Services isn’t a scam, but you should make sure to avoid scammers by verifying your debts and only making payments once you’re sure they’re legitimate.
  • You have rights under the Fair Debt Collection Practices Act that prohibit debt collectors from harassing you. You can sue for harassment, and you won’t need to pay the legal fees if you win.
  • There are several ways of removing CMRE Financial Services debt from your credit report, but if these approaches fail, then you should consider seeking advice from a credit repair professional.

Other Collection Agencies

  • CBS Collections
  • CBS Financial Services
  • Central Portfolio Control
  • Choice Recovery
  • Client Services, Inc.
  • Coast Professional
  • Collection Consultants of California
  • Commonwealth Financial Systems
  • ConServe Collections
  • Convergent Outsourcing

Article Sources

  1. CMRE Financial Services. "About" Retrieved December 1, 2021.
  2. CMRE Financial Services. "Experience" Retrieved December 1, 2021.
  3. GlobeNewswire. "Press Release: Revenue Cycle Solutions Leader CMRE Financial Services, Inc. Joins Meduit to Form One of the Largest RCM Companies in the Nation" Retrieved December 1, 2021.
  4. Experian. "How Does Medical Debt Affect Your Credit Score?" Retrieved December 7, 2021.
  5. FICO. "The Impact of Medical Debt on FICO® Scores" Retrieved December 7, 2021.
  6. VantageScore. "Your score vs. medical debt" Retrieved December 7, 2021.
  7. Federal Trade Commission . "Fair Debt Collection Practices Act" Retrieved December 7, 2021.
  8. National Consumer Assistance Plan. "Highlights" Retrieved December 7, 2021.
  9. Federal Trade Commission. "Fair Credit Reporting Act" Retrieved December 7, 2021.
  10. Congressional Research Service. "The Debt Collection Market and Selected Policy Issues" Retrieved December 7, 2021.
  11. Consumer Financial Protection Bureau. "How Long Does Negative Information Remain on My Credit Report?" Retrieved December 7, 2021.

FinanceJar Team

Staff Writers & Editors

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The FinanceJar Team is a group of financial experts, writers, and industry professionals who collaborate to bring you fresh and simple insights into your finances. They're dedicated to guiding you toward the right path on your financial journey.

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