Start My Answer
loading...

How to Settle Debt With Alco Capital Group LLC

George Simons | January 27, 2025

George Simons
Co-Founder of SoloSuit
George Simons, JD/MBA

George Simons is the co-founder and CEO of SoloSuit. He has helped Americans protect over $1 billion from predatory debt lawsuits. George graduated from BYU Law school in 2020 with a JD-MBA. In his spare time, George likes to cook, because he likes to eat.

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: Is Alco Capital Group LLC suing you? We've got you covered. Respond to your lawsuit and reach out to negotiate a settlement. Make a fair offer and be prepared for a few rounds of negotiating before you come to an agreement, then get it in writing. Solo can help streamline the settlement process.

Are you stressed out because Alco Capital Group is suing you? You're not alone. Facing legal action over unpaid debts can feel overwhelming, but it’s important to remember that you have options. Alco Capital Group, like other debt collectors, is focused on recovering money owed, not making your life harder. However, it's important to know your rights and stay calm so that you can handle your debt once and for all.

Many people in similar circumstances have successfully resolved their debts without facing court trials. This article will help you learn how to reach an agreement with Alco Capital Group. Before discussing who they are, let's take a quick look at the fundamentals of debt collection.

Settle debt with Alco Capital Group LLC

You can negotiate debt settlement at any stage of the collections process. SoloSettle makes it easy.

Settle with SoloSettle

Debt Collection 101

There are several types of debt, but they all involve a debtor-creditor relationship. When a debtor fails to repay their debt, the creditor will use various debt collection methods to resolve the issue. If these efforts are unsuccessful, the creditor may take legal action and bring the case to court. However, creditors often prefer to avoid this step, as pursuing legal action can be costly and time-consuming. Therefore, taking a debtor to court is generally considered a last resort after multiple failed collection attempts.

Many unaware debtors assume that the original creditor is the plaintiff suing them. But what if we told you that this isn't always the case? You might be thinking, what does that mean? And how is this relevant to Alco Capital Group?

In some cases, a debt may have been sold or assigned to a third-party collection agency like Alco Capital Group. This means they, not the original lender, are now pursuing legal action to recover the debt. Understanding this distinction is essential, as it affects how you approach the situation and your options to resolve it.

Who is Alco Capital Group LLC?

Alco Capital Group LLC is a third-party debt collection agency specializing in recovering outstanding debts on behalf of various creditors. They have been in business for 16 years and are headquartered in Brookfield, Wisconsin. The company works with individuals and businesses to collect payments on delinquent accounts, mainly for debts that the original creditor has charged off. Their contact information is as follows:

  • Phone Number: 262-641-3715
  • Address: 225 S Executive Dr. Ste 200 Brookfield, WI 53005-4257
  • Website: Alcocapital.com

Who does Alco Capital Group LLC collect for?

Alco Capital Group LLC collects debts on behalf of a wide range of creditors, including financial institutions, healthcare providers, real estate, and retailers. They work with companies that have given up on collecting debt and consider it a loss due to non-payment or difficult-to-recover debts. Their clients include credit card companies, hospitals, property owners, and other businesses that extend credit to consumers.

Read Alco Capital Group LLC reviews online.

Alco Capital has not gathered many reviews since it started operating. The Better Business Bureau has not recorded any reviews or complaints, while CFPB has only added three reviews. You can read these reviews here (Alco Capital reviews on CFPB). As you interact with Alco Capital Group, consider approaching them with an open mind and a willingness to work together toward a solution.

Having the intention to involve them in creating a plan to help you get out of debt can lead to a more productive conversation. Remember, their primary goal is to recover the debt, but they may also be open to discussing new payment options or settlements that suit your financial situation.

Stay calm when Alco Capital Group LLC calls

It's important to remain calm and composed when Alco Capital Group first contacts you. While they may try to encourage you to make a payment right away, it's crucial not to feel pressured into acting without thinking it through. They may suggest paying a small portion to resolve the issue quickly.

Even though this suggestion might seem like a way to address your debt, it's worth considering what it may mean. For example, even a small payment can be seen as acknowledging the debt, which could reset the statute of limitations and reopen the clock on your debt. Take your time, understand your rights, and consider all options before making any decisions.

Respond to Alco Capital Group LLC’s lawsuit

It’s natural to feel overwhelmed when you receive a lawsuit letter from a debt collector. If Alco Capital files a lawsuit against you, don’t panic; respond promptly with a written Answer. Ignoring the lawsuit will only make things worse. Once the deadline passes, they may request a default judgment from the court, which could lead to serious consequences like wage garnishment or access to your bank account.

Use SoloSuit to answer debt collection lawsuits in minutes.

Filing your Answer does not have to be an expensive or frustrating process. You can generate your Answer on our website in minutes. Failing to defend yourself can plunge you into more debt.

Note: When you respond with an Answer, you are asking Alco Capital to prove their case after you deny the allegations in the Complaint. You also have the opportunity to add the affirmative defenses that can clear you from paying or have Alco Capital accept a settlement deal since their case may not be strong enough after reading your defense.

Filing an Answer protects you from a default judgment as it lets the court and Alco Capital Group, LLC know that you plan to see the lawsuit through. To fulfill this, you need to keep track of your case as it moves through the court, respond to all requests for information, and show up for any scheduled hearings until the lawsuit is dismissed or otherwise settled.

Know your consumer rights under FDCPA

The Fair Debt Collection Practices Act, or the FDCPA, lists the rules that all creditors must adhere to when they attempt to collect a debt. That includes debt collection organizations like Alco Capital Group. It's in your best interest to read up on the protections this act offers you.

  • According to the terms stated, the company cannot take any actions that are unfair or deceptive.
  • They have to treat you with respect. Debt collectors can't call you at any hour of the day.
  • These rules also include things like contacting your family members, colleagues, or employer.
  • If they misrepresent any of the facts while attempting to collect the debt, you can hold them liable.

Alco Capital representatives are aware of the FDCPA and are likely to adhere to the law, but it may be helpful to inform them from the beginning that you’re aware of your rights under the FDCPA.

File a counterclaim easily with SoloSuit.

Debt Collectors can make mistakes

Your debt may have changed hands multiple times by the time you are served. One reality of this process is errors in recordkeeping as each party struggles to keep track of the debts owed. This means they can make mistakes documenting the amount you owe and the person who owes it.

For example, in 2016, 88,000 people registered complaints with the Consumer Financial Protection Bureau, saying third-party collectors were asking them to pay debts that they did not have. That's why you should ask the debt collector for a validation letter when they contact you. This letter should list all relevant information about the debt, including details on the collection company and a process for challenging the debt.

If it is your debt, you should have your own detailed records ready, including all payments you made over the years and your original creditor's information. Use certified documents, communication records, or any signed statements from your previous collectors acknowledging how much you've paid.

Hiring legal representation is costly. You can do it on your own, and Solo’s resources can help.

Settle with SoloSettle

Make an Offer

Settle your debt with Alco Capital Group LLC

Settling a debt is often the best way to reach an agreement with Alco Capital Group, LLC. The debt settlement process is straightforward and outlined in the steps below.

  1. Take a good look at your finances to determine how much you can offer to resolve the debt.
  2. Contact Alco Capital Group to make your initial settlement offer. Explain the amount you are offering to pay and the date you can provide the payment. Offer less than the maximum amount you can afford so that you have some room to respond and increase your offer if they counteroffer.
  3. Once you’ve reached an agreement, make sure you receive a copy of the settlement agreement and that it contains language that the settlement completely clears the debt.
  4. Pay the agreed-upon amount in a timely manner.

SoloSettle is an online platform created to help you manage debt settlement with a collectorSoloSettle helps track correspondence between you and the debt collector, and provides a secure way to issue payment for the debt while protecting your personal financial information.

It’s important to explain why you’re unable to pay the full amount to increase your chances of achieving a fair settlement. Watch the following video for more information.

How to Answer a Summons for debt collection in all 50 states

Here's a list of guides on how to respond to a debt collection lawsuit in each state:

The Ultimate 50 State Guide

Guides on how to resolve debt with every debt collector

Are you being sued by a debt collector? We’re making guides on how to resolve debt with each one.

Resolve your debt with your creditor

Some creditors, banks, and lenders have an internal collections department. If they come after you for a debt, Solosuit can still help you respond and resolve the debt. Here’s a list of guides on how to resolve debt with different creditors.

Settle your medical debt

Having a health challenge is stressful, but dealing medical debt on top of it is overwhelming. Here are some resources on how to manage medical debt.

Guides on arbitration

If the thought of going to court stresses you out, you’re not alone. Many Americans who are sued for credit card debt utilize a Motion to Compel Arbitration to push their case out of court and into arbitration.

Below are some resources on how to use an arbitration clause to your advantage and win a debt lawsuit.

Stop calls from debt collectors

Do you keep getting calls from an unknown number, only to realize that it’s a debt collector on the other line? If you’ve been called by any of the following numbers, chances are you have collectors coming after you, and we’ll tell you how to stop them.

Federal debt collection laws can protect you

Knowing your rights makes it easier to stand up for your rights. Below, we’ve compiled all our articles on federal debt collection laws that protect you from unfair practices.

Get debt relief in your state

We’ve created a specialized guide on how to find debt relief in all 50 states, complete with steps to take to find relief, state-specific resources, and more.

Debt collection laws in all 50 states

Debt collection laws vary by state, so we have compiled a guide to each state’s debt collection laws to make it easier for you to stand up for your rights—no matter where you live.

Statute of limitations on debt state guides

Like all debt collection laws, the statute of limitations on debt varies by state. So, we wrote a guide on each state’s statutes. Check it out below.

Statute of Limitations on Debt Collection by State (Best Guide)

Check the status of your court case

Don’t have time to go to your local courthouse to check the status of your case? We’ve created a guide on how to check the status of your case in every state, complete with online search tools and court directories.

How to stop wage garnishment in your state

Forgot to respond to your debt lawsuit? The judge may have ordered a default judgment against you, and with a default judgment, debt collectors can garnish your wages. Here are our guides on how to stop wage garnishment in all 50 states.

Other wage garnishment resources

How to settle a debt in your state

Debt settlement is one of the most effective ways to resolve a debt and save money. We’ve created a guide on how to settle your debt in all 50 states. Find out how to settle in your state with a simple click and explore other debt settlement resources below.

How to settle with every debt collector

Not sure how to negotiate a debt settlement with a debt collector? We are creating guides to help you know how to start the settlement conversation and increase your chances of coming to an agreement with every debt collector.

Other debt settlement resources

Personal loan and debt relief reviews

We give a factual review of the following debt consolidation, debt settlement, and loan organizations and companies to help you make an informed decision before you take on a debt.

How to repair and improve your credit score

Debt has a big impact on your credit. Below is a list of guides on how to repair and improve your credit, even while managing major debt.

How to resolve student loan debt

Struggling with student debt? SoloSuit’s got you covered. Below are resources on handling student loan debt.

Civil law legal definitions

You can represent yourself in court. Save yourself the time and cost of finding an attorney, and use the following resources to understand legal definitions better and how they may apply to your case.

Get answers to these FAQs on debt collection

How-to debt guides

Learn more with these additional debt resources

Contents