How to Resolve a Debt With Bull City Financial

Dena Standley | July 28, 2023

Dena Standley
Legal Expert, Paralegal
Dena Standley, BA

Dena Standley is a seasoned paralegal with more than 20 years of experience in legal research and writing, having received a certification as a Legal Assistant/Paralegal from Southern Technical College.

Edited by Hannah Locklear

Hannah Locklear
Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

Summary: When Bull City Financial contacts you about a debt, you have options. You can send a Debt Validation Letter to request a verification of the debt. If you've been sued, SoloSuit can help you respond to the lawsuit with a written Answer and settle the debt before going to court.

Bull City Financial Solutions (BCFS) is a legitimate debt collection agency in North Carolina. It has been in business for over 47 years. They collect for companies in various industries, including government and municipalities, healthcare, education, utility, retail, and financial institutions.

A caring approach to helping consumers is the slogan for Bull City Financial Solutions. They boast of having a unique approach to debt collection, where they offer extensive consumer support. But do they keep their word? Have consumers suffered in their hands?

Yes, consumers have had plenty of bad experiences with BCFS. For instance, Consumer Financial Protection Bureau (CFPB) has listed 282 complaints against BCFS, and Better Business Bureau records 121 complaints ranging from:

  • Wrong debt entry on their credit report.
  • Difficulty in reaching the customer care services.
  • Attempting to collect using inaccurate debt amounts.
  • Failing to respond to a Debt Validation Letter.
  • Dealing with unprofessional agents.

Under the Fair Debt Collection Practices Act, you have the right to report BCFS to relevant authorities or take legal action if they use bad business practices to collect a debt. Consumers usually have multiple questions on how to go about dealing with BCFS. Today, we will answer four of the most common questions.

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How do I deal with BCFS's persistent calls?

BCFS has a right to call requesting debt payment. But FDCPA limits these calls to only once a day for every debt. For example, if you have only one debt, you should expect one call. If you owe money to several creditors handled by BCFS, expect several calls for different debts. The next time they call you multiple times a day for the same debt:

  • Tell them you will report them for violating your one-call per day consumer rights.
  • Ask them to do all communication in writing.
  • Inform them to expect a Debt Validation Letter requesting them to validate the debt.

If the debt is not yours or they gave you inaccurate debt figures, BCFS may stop contacting you once you send a Debt Validation Letter. The following video explains how to write one:

Will a BCFS debt entry affect my credit score?

Yes, any debt entry from a legitimate debt collection agency will harm your credit score immediately. The amount of debt you owe determines 30% of your credit score.

In addition, the scoring does not only look at your debt balance but also the available credit left on your credit cards. Addressing a debt entry by BCFS will help improve your credit score. If BCFS is on your credit report, do the following:

  • Send a Debt Validation Letter requesting them to validate the debt.
  • Request copies of your credit report from Equifax, Transunion, and Experian for comparison.
  • Send a Debt Dispute Letter if you find discrepancies on the validation notice, credit report, and your records. The credit bureaus will investigate and correct or remove the debt from your report.
  • After you confirm that you owe the debt, make arrangements to pay. You can also request BCFS for a pay-for-delete-agreement. If they agree, BCFS will remove the debt once you pay the debt.

Do I have to pay the entire debt once BCFS contacts me?

It depends on the terms they offer you, the debt in question, your financial situation, and their answer to the Debt Validation Letter. BCFS may be willing to reduce the original debt to a certain percentage if you agree to pay the entire debt. Typically, BCFS contacts consumers requesting them to resume paying the debt—in addition to late fee charges accrued. In some situations, they may agree to a new payment plan if you explain your situation well.

Let's consider an example.

Example: Johnny and his family experienced financial hardship due to the COVID-19 pandemic, and he fell behind on his payments. In 2021, he found out he was being sued by BCFS for one of his credit card debts. Johnny used SoloSuit to respond to the lawsuit, buying himself time to work out a settlement plan. Next, Johnny utilized SoloSettle to negotiate a debt settlement with BCFS. In his initial offer, Johnny asked if they would settle for 50% of the original amount. Since Bull City Financial Solutions bought the debt for pennies on the dollar, they agreed to settle for 60%. With SoloSettle's help, Johnny was able to pay off the debt in a lump sum payment and save a significant amount of money in the end.


What happens if I ignore BCFS?

Ignoring Bull City Financial may result in BCFS entering your debt on your credit report (if they haven't already) and suing you to gain access to your bank account or garnish your wages.

It is better if you respond as described above and if the debt is legitimate, negotiate for a lower payment, then make plans to pay. When you receive a debt lawsuit from BCFS, you need to respond with an Answer, or they will be granted a default judgment, meaning they win the case.

Respond to a debt lawsuit against Bull City Financial Solutions

If BCFS is taking you to court over a debt you owe, the first step to winning your case is to respond. You can use SoloSuit's free Answer form to respond to the lawsuit. Be sure to submit your Answer before the deadline, which is 14-35 days, depending on which state you live in. Remember, if you ignore the suit, a default judgment will most likely be entered against you which can lead to wage garnishment and other serious financial issues.

Follow these three tips to respond to your debt lawsuit against Bull City Financial Solutions:

  1. Reply to each claim listed in the Complaint document.
  2. Include a section for your affirmative defenses.
  3. File the Answer with the court and send a copy to BCFS.

Learn more about these three steps this video:

If you're nervous about going to court, you're not alone. Instead of risking losing your wages or having money taken from your bank account, you can also try filing a Motion to Compel Arbitration to force the case out of court and into an arbitrator's hands. You can also send a debt settlement offer on your own to see if the debt collector will accept a portion of the debt as a lump-sum payment. Both these options help you avoid going to court.

SoloSuit has helped hundreds of consumers deal with debt collectors using our professionally drafted legal documents. You have a chance to resolve your debt with BCFS by customizing these documents to fit your needs and case.

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