Pioneer Credit Recovery was founded in 1980 and in 2002 was acquired by Sallie Mae (NYSE:SLM), one of the largest privately funded sources of student loans. Headquartered in western New York, Pioneer Credit Recovery, Inc. employs nearly 1,000 collectors operating out of call centers in Arcade, New York; Perry, New York; Lake City, Florida; and Moorestown, New Jersey. Not surprisingly, Pioneer Credit Recovery specializes in collecting defaulted student loans, both for its parent company and the U.S. Department of Education. Pioneer Credit Recovery, Inc. also collects on debts owed to municipalities, cities, states, and federal government entities across the U.S.
Pioneer Credit Recovery Complaints
As of April 2013, the Better Business Bureau had accorded Pioneer Credit Recovery an A+ rating, despite having logged 153 closed Pioneer Credit Recovery complaints within the previous three years, including 73 closed Pioneer Credit Recovery complaints within the previous 12 months. In the first three months of 2013, a half dozen Pioneer Credit Recovery lawsuits were filed in federal court alleging violations of the Fair Debt Collection Practices Act.
Stop Debt Collection Harassment
If you get a call from a collector from Pioneer Credit Recovery it will probably be about a student loan. If this loan was funded or guaranteed by the federal government, there are certain collection methods that are legitimately available to the collector that aren't available to debt collection agencies that collect on private loans or credit cards.
When you receive the call, you first want to make sure that the loan is actually yours. If it is yours, keep in mind that if you have an income tax return coming, the collector can intercept it and apply it to your loan balance. The Department of Education collects millions of dollars each year using this technique.
The second unique collection tool a student loan collector has available is the ability to garnish government sources of income, like Social Security, that are normally exempt from any other type of garnishment. However, there is a limit to the amount that can be taken. No more than 15% of your benefit can be taken and the amount taken must leave you at least $750 per month.
The best way out of a student loan default is to work out a payment plan. The government has several programs for loan consolidation and payments calibrated to your income. Ultimately, they make your monthly payments smaller so you can afford to get out of default status and get current. However, student loan debt collectors don’t always tell consumers about their options for consolidation and lower monthly payments. It’s important to do independent research and know your rights prior to entering into a payment agreement.
Pioneer Credit Recovery Contact Information
Pioneer Credit Recovery
26 Edward Street
Arcade, NY 14009
Pioneer Credit Recovery Phone Number: 800-836-2442
How to Stop the Harassment Now
Complete the form to the right for a FREE evaluation, or call Toll-Free . The legal team at Lemberg & Associates is committed to holding debt collectors accountable, and will fight for your rights under the Fair Debt Collection Practices Act.
Note to Readers
The Information on this website is assembled using many public online and offline sources, such as debt collection agency websites, BBB data, regulatory agency reports and websites, and data available through Pacer. It neither is nor is intended to be the full or complete description of any company's business. To the extent any portion of the website is non-factual in nature, it constitutes our opinion only. We ask that you not rely on any information here in deciding whether or not to do business with any company mentioned on this website. Nothing here constitutes or is intended to constitute legal advice. If any reader or user of this website has a question about specific sources for any information used here, click here to submit an inquiry.
If you have been the victim of harassment or illegal or unfair debt collection practices, contact the Fair Debt Attorneys at Lemberg & Associates immediately to discuss your options and protect your rights. When you owe creditors money, you are protected by the Fair Debt Collection Practices Act, as well as other federal and state laws. If a debt collector has violated your rights, you may be entitled to up to $1000 in damages, and they may even have to pay your attorney fees. Sergei Lemberg, and the attorneys at Lemberg & Associates have helped countless people to assert their legal rights with debt collectors. Don't be intimidated by illegal debt collection practices. For more information, contact Lemberg & Associates today at .
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