Dena Standley | October 19, 2022
Summary: Is TrueAccord bothering you about a debt? SoloSuit can help you take a stand, know your rights, and beat them in court.
Debt collection isn't the most exciting segment in the financial services industry. The entire experience is awful for everyone involved—lenders and borrowers alike. Debt, however, remains a constant in the lives of many Americans. According to CNBC, in 2021, consumers' revolving credit levels reached $15.6 trillion, the highest level in history.
This is a problem that neither financial institutions nor tech startups have figured out, except for a few successful examples like TrueAccord Corp. TrueAccord's self-service payment allows consumers to pay off their debts to collections in a quick and efficient way. In today's digital generation that uses email, text messages, and instant messaging, mobile calls and mobile devices account for 30 percent of TrueAccord's service web traffic.
This article will teach you everything you should know about TrueAccord and how to beat them at their own game.
Let's dive right in.
TrueAccord Corp is a full-service digital-first debt collection agency licensed to collect in all 50 states. The company serves creditors across the country in a wide variety of industries from credit to consumer loan, eCommerce, technology, real estate, and services industries.
In other words, TrueAccord collects on behalf of other companies. So if you've never heard of TrueAccord and they're contacting you about a debt, the debt is probably with some other company or bank. It's also common practice for TrueAccord to purchase charged-off debts from creditors that have given up on trying to get the money back. They usually purchase these debt in large packages, for pennies on the dollar.
By default, TrueAccord sends you an email asking you to log into your account to check the outstanding bill, dispute it, or set up a payment plan. The founder of TrueAccord, Samet, accidentally forgot to pay his credit card bill on time, which inspired him to create the product. It is legal for debt collectors to contact you electronically, including via social media. This doesn't make it any less annoying, though, and there are still laws that govern the way collection agencies can communicate with consumers like you.
The Fair Debt Collection Practices Act requires debt collectors to provide identifying information as part of their first digital communication and opt-out of receiving messages from them on that platform or to that account.
The Consumer Financial Protection Bureau (CFPB) and the Better Business Bureau (BBB) receive many complaints against collection agencies. Most consumer complaints involve, inaccurate debt information, harassment, and failure to verify debt are issues. Consider filing a complaint if you experience any of these situations with TrueAccord.
As of 2022, TrueAccord has received 125 complaints on its BBB profile in a three-year period. Even worse, the CFPB reported 456 complaints against TrueAccord in the last ten years. Let's take a look at a real example.
“I received a letter on April 6th, 2022 in the mail from TrueAccord stating that I owe money to ****** for $33.68 and I was charged $10 for fees, totaling $43.68. The amount owed was from April 29th, 2019. This appears to be fraudulent debt or a phishing scam to collect on a non-existing account. I confirm that I never did any business with ****** or have an account with them and I do not owe this company any money. I would like TrueAccord to notify the creditor of the falsehood of this debt and I would like TrueAccord to cease and desist from sending me information on a debt that I do not have an account for and do not owe.”
According to the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA), you have many consumer rights. Being in collections is not something anyone enjoys. However, if you familiarize yourself with the rules surrounding debt collection and the upcoming alterations to those rules, you'll be better prepared to handle these interactions.
According to the FDCPA, TrueAccord must adhere to specific regulations when collecting payments from you. This law prohibits debt collectors from engaging in predatory practices, including lying to you, calling incessantly, or outside regular business hours.
Under the FDCPA, TrueAccord cannot:
The Telephone Consumer Protection Act also requires TrueAccord representatives to abide by those rules. Knowing these laws will allow you to take action against TrueAccord if they break them.
Here are some facts about the methods TrueAccord uses for debt collection:
TrueAccord Debt Collection Methods |
||
Contact Method |
TrueAccord collects for? |
TruAccord collects |
Text messages |
Banking and financial services |
Consumer loans |
Push notifications |
Healthcare |
Medical bills and insurance payments |
Facebook ads |
Utilities |
Credit card debt |
Emails |
Real estate |
Past-due rent |
Automated voicemails |
Insurance, e-commerce, and telecommunications |
Phone and utility bills |
|
Whenever TrueAccord believes you have an indebtedness, they will call, email, or mail you. Simply put, they're trying to push you into paying up. The TrueAccord representatives will continue to contact you until you pay off the debt, prove that the debt does not belong to you, or settle with them or with your original creditor.
If you prefer not to be contacted by TrueAccord, you can send them a Debt Validation Letter. It's a formal letter asking the debt collector to provide proof of the debt, which must be mailed within 30 days after they first contact you. Unless they respond with evidence of the debt within 30 days, TrueAccord is legally prohibited from contacting you.
Here are three reasons you should send a Debt Validation Letter:
You may find out that your debt has passed the statute of limitations through the verification materials you receive. TrueAccord cannot legally pursue you for the debt once it has reached this age, known as a time-barred debt.
The statute of limitations is between three and six years for most debts, but the exact length depends on several factors, including your state of residence. If the information you're seeking isn't available online, check the website of your state's attorney general.
If the debt is legitimate and less than seven years old, you may find TrueAccord challenging to deal with (but not impossible). Paying off the debt is your best option. Paying back an account will boost your credit score even if you can't get the item removed from your credit report.
When you pay, you can still try last-ditch negotiation strategies to get TrueAccord removed from your credit report:
Make sure to keep track of all your communications with TrueAccord, ideally in writing if possible. If you need to contact TrueAccord, you can use the following information:
Mailing Address:
TrueAccord Corp
16011 College Blvd Ste 130
Lenexa, KS 66219
Website: https://www.trueaccord.com
Phone number: (866) 611-2731
If you've been sued by TrueAccord, you can represent yourself in court and win. The first step to beating TrueAccord in court is to file a written Answer with the court within 14–35 days after receiving the lawsuit. If you do not respond in time, a default judgment will be entered against you. This gives TrueAccord the right to garnish your wages or put liens on your property in order to get the money back. Luckily, SoloSuit can help you draft an Answer within minutes.
Use these six tips to draft an Answer that will increase your chances of winning the case:
SoloSuit can help you draft and file an Answer in all 50 states.
Learn more about these six tips in this video:
Debt lawsuits affect ten million Americans each year. In 90% of cases, the respondents do not respond, and they only have 14-30 days to do so. SoloSuit can help! The SoloSuit form asks a couple of questions about your case. SoloSuit prepares a response based on your answers and instructs you on how to proceed.
Defending yourself starts with responding to the lawsuit. SoloSuit can help you represent yourself in court and beat TrueAccord.
SoloSuit makes it easy to fight debt collectors.
You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt.
SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.
"First time getting sued by a debt collector and I was searching all over YouTube and ran across SoloSuit, so I decided to buy their services with their attorney reviewed documentation which cost extra but it was well worth it! SoloSuit sent the documentation to the parties and to the court which saved me time from having to go to court and in a few weeks the case got dismissed!" – James
You can ask your questions on the SoloSuit forum and the community will help you out. Whether you need help now or are just looking for support, we're here for you.
>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)
Here's a list of guides for other states.
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