Have an issue with TrueAccord? Need help?
Are you being harassed by a debt collector? Is someone from TrueAccord contacting you every day, or multiple times per day by phone, mail, email, or Facebook? Are they threatening to sue? We explain all about TrueAccord, how they operate, why they might be calling, and what to do if they contact you.
TrueAccord is a debt collection company founded by people who had negative experiences with debt collectors. In fact, according to their website, the company tried to fundamentally change the way they went about the debt collection process by converting it into what they call a recovery and Reconciliation process.
Yes, if you legitimately owe the money you should pay TrueAccord. However, even legitimate companies have been known to sometimes act unfairly and violate things like the Fair Debt Collection Practices Act (FDCPA). So if you have been harassed or treated unfairly, consider filing a complaint or working with an attorney.
Yes, TrueAccord is a legitimate company. They are a licensed third party debt collection agency. They are also accredited by the Better Business Bureau.
TrueAccord is not a junk debt buyer, they are a legitimate debt collection agency.
Don’t assume you can ignore TrueAccord. If you continue to ignore them, TrueAccord can take legal action against you to get the money. That said, even though they are a legitimate company, TrueAccord sometimes makes mistakes or violates the most recent FDCPA regulations about when and how they contact you. If this happens, you can share your complaints with outside attorneys, or file complaints with the government. You can get legal help to sue the collection agency if that is insufficient.
TrueAccord, as a licensed third-party debt collection agency, collects debt on behalf of other people. They don’t purchase your debt or own it outright. They work with a handful of industries, including credit, consumer loans, real estate, e-commerce, and technology. They work as part of LVNV.
If TrueAccord is calling you and you don’t think you have debt, you need to send them a request for validation. You have 30 days from the first point of contact to ask the company for authenticity, verifying the legitimacy of the debt. You might not realize you actually have debt, or it might be a mistake. It’s quite common today to get a new cell phone with a new number and immediately get harassed by creditors because creditors and debt collectors have that phone number associated with an old account. Sending that request for validation helps the companies recognize when this mistake has been made. If TrueAccord can’t prove the legitimacy of the debt and provide you with evidence that it’s yours, they have to stop trying to collect. If they don’t send you the appropriate response to your request for validation, you can send them a communication called insufficient validation.
In some situations you know the debt was yours at some point, but isn’t anymore. This might be a situation where you already paid it off. If TrueAccord is calling about debt I’ve already paid, double check your records. Sometimes debt collectors send the information about a payment to the original lender but it isn’t accurately reported. Other times companies like TrueAccord don’t verify their information. At the same time, send them a request for validation. This will force TrueAccord to stop their collecting attempts and authenticate the debt. Do this within 30 days of your first contact. You can get help with this from an attorney.
As a debt collector, some of the laws that TrueAccord must follow include the FCRA, the FDCPA, and the TCPA.
That alphabet soup stands for the Fair Credit Reporting Act, which gives you rights to help ensure your credit report remains accurate; the Fair Debt Collection Practices Act, which protects you from being abused and deceived by debt collectors; and the Telephone Consumer Protection Act, which limits robocalls and other telephone spam.
If you think any of these consumer protection laws may apply to your situation, tell us about it.
If you believe the debt TrueAccord is calling about has expired, you want to do the same thing: check your records and simultaneously, send TrueAccord a request for a validation letter. There is a different statute of limitations for each type of debt, so you want to check your credit report to make sure the debt actually is expired. If you can prove it is expired but it’s still listed on your credit score, contact the credit reporting agencies to have it updated. Sometimes companies like TrueAccord think they are collecting on non-expired debt when they aren’t.
Given the fact that the company was founded by people who struggled with debt collectors and debt buyers, they are much more lenient in terms of working with you to find something that is favorable. In many cases, this might mean settling for less than your original amount especially if you are facing financial hardship.
If you owe a legitimate debt, the best way to get rid of TrueAccord is to settle with them. You or an attorney can negotiate with TrueAccord for a reduced settlement, a fraction of the total amount you owe, especially if you are currently experiencing financial hardship.Alternatively, if you don’t think you owe any money, you can ask TrueAccord for a validation letter. If TrueAccord can’t legitimately prove the debt is yours, you can send the company a letter of insufficient validation.
If your debt is current, yes they can sue you. However, some companies like to sue sooner than others. They can’t just sue you right away if they haven’t tried to contact you and collect on the debt, but if you ignore them, then it’s more likely that they can and will sue you.
TrueAccord Solutions LLC owns TrueAccord.
The current CEO is Mark Ravanesi.
TrueAccord is headquartered in Lenexa, Kansas.
TrueAccord is a licensed debt collection agency that works across all 50 states. They focus on a variety of industries ranging from credit, consumer loans, real estate, e-commerce, and technology.
The employees get paid an hourly wage while the company gets paid from the original creditors.
If you have recently checked your credit score and saw something labeled “TrueAccord”, that means your account with another creditor was given to TrueAccord in order for them to try and collect from you.
No, having an attorney is not a requirement. You can deal with debt collectors entirely on your own. However, many people find it easier to work with an attorney simply because attorneys can field all communication between yourself and the organization. Attorneys also understand what the laws are, so they know what to do if debt collectors violate your rights. Attorneys can handle all of the appropriate official letters that need to be sent if there is a problem.
The FDCPA uses the word “verify,” but some other organizations use the word “validate.” No matter which word is used, it can mean two things. First, You “validate” a debt by sending a letter to TrueAccord officially asking them for information that would confirm the validity of the debt. You or an attorney must do this within 30 days from the first time they contact you.Second, TrueAccord then “validates” the debt on their end by providing you with this information. Collection attempts have to stop once they receive your letter until such time as they give you a response which should take 30 days. If they don’t follow the law or they are unable to verify it, they have to stop bothering you.
A settlement with TrueAccord can be reached in as little as a few weeks or even a couple of years depending on how complex your situation is. You might not see an update to your credit report after reaching a settlement with TrueAccord for a few months because it can take up to 90 days for the owner of your account to update the information to the credit reporting agencies.
What you offer is based on your financial situation. Debt collectors generally try to collect between 40% and 80% of the total amount you owe. However, there was nothing stopping you from trying to settle for less and offer whatever you can legitimately afford.
Creditors are legally allowed to sue you if you ignore their attempts to collect on a debt even if there was a mistake in that account. However, they have to get a court order before they are allowed to liquidate assets in order to repay the money you owe, so it is very unlikely that you will wake up one day without warning and find all of your money has disappeared.
You can ignore TrueAccord, but you shouldn’t. If you think there was a problem with the debt, it isn’t yours, it has expired, or anything else, you only have 30 days to point out the mistake. What’s more, if you ignore a collection agency you leave yourself open to things like potential lawsuits.
When the original owner of your debt sends your account to TrueAccord to collect, it comes with all of your account information including your phone number.
Yes, you can use a Visa or MasterCard credit card in order to pay TrueAccord. You can send payments through the mail or contact them online or over the phone. If you don’t have a Visa or MasterCard credit card, you can also use debit cards, Bank transfers, cashier’s checks, money orders, or mailed in checks.
Yes, long-term, paying off any debt you have will improve your credit score including accounts that were sent to collections. Don’t expect it to improve your credit score immediately though, as this can take a few years. One way around this is to negotiate for a tradeline deletion which removes the account once you pay it off. Bear in mind that TrueAccord does not actually report to the credit bureaus. So, they don’t report negative account information. However, because they don’t own your debt, whoever originally owns your debt might report information to the credit reporting agencies as required by law.
No. It doesn’t just go away after seven years, it goes away once it expires. The expiration date or statute of limitations is based on the type of account and the state. Not all debt qualifies for expiration. If you have debt that qualifies and you can confirm it has expired, collections agencies are not legally allowed to sue you in order to get back that money or threaten to sue you. If they continue to harass you over debt that has expired, you can send them a cease communications letter.
If you file for bankruptcy your debt does not go away automatically. Most people think it goes away because under certain terms and conditions for specific types of bankruptcy, any remaining debt will be wiped clean as long as you fulfill your end of the bargain. What that bargain turns out to be is done on a case-by-case basis.
There are a few ways you can get debt removed from your credit score. Firstly, understand that debt which has been sent to collections will show up on your credit report as delinquent. Even after you pay it off it remains there for seven years, only it should have a zero balance and be marked “settled”. This doesn’t hurt your credit score as much as a delinquent account with an unpaid balance, but it certainly doesn’t help you. You can get around this by negotiating for a tradeline deletion with TrueAccord. When you negotiate a settlement with them, ask for this as part of the deal. This means TrueAccord will have the credit reporting agencies remove the account entirely from your credit report, helping boost your credit immediately. If you have an account that has expired, isn’t yours, or is incorrect, you can and should contact the credit reporting agencies with your proof and have them fix the problem immediately. Once updated, your credit score should improve.
The Ultimate Guide to Consumer Complaints
Learn More
