What Is Assetcare on My Credit Report? How to Remove It
Assetcare LLC is a Texas-based medical debt collector that often appears on credit reports without proper notice. You can remove Assetcare by demanding debt validation, negotiating a pay-for-delete agreement, or requesting goodwill deletion after payment. If Assetcare sues you, respond to the lawsuit within the deadline to avoid default judgment.
Answer Assetcare LawsuitYou check your credit report and see Assetcare LLC listed. You don’t recognize the name. You wonder what it means for your credit.
Assetcare on your credit report signals an outstanding medical debt. You have options to remove it. You can challenge the debt, negotiate removal, or request deletion.
Respond to Assetcare's Lawsuit Before the Deadline
Assetcare sued you for medical debt? You have 20-30 days to file your Answer or face automatic judgment. Don't let the deadline pass.
Respond to LawsuitWho Is Assetcare LLC?
Assetcare is a Texas-based collection agency founded in 2016. The company specializes in collecting medical debts. Their headquarters sits at 3400 Texoma Parkway, Suite 300, Sherman, TX 75090.
You can reach Assetcare at (888) 993-3604. The company sometimes operates under the name CF Medical VI, LLC.
Assetcare has a troubled reputation with consumers. The Better Business Bureau shows over 250 complaints filed against them in three years. Many consumers report the company fails to validate debts when requested. Others say Assetcare appears on credit reports without prior notice. Some claim the agency tries collecting debts already paid.
How Assetcare Impacts Your Credit Score
Collection accounts damage your credit significantly. Assetcare’s entry can lower your score by 50 to 100 points. The account stays on your report for seven years from the date of first delinquency.
You’ll face higher interest rates on loans and credit cards. Some landlords and employers check credit reports too. Removing Assetcare from your report protects your financial future.
Three Ways to Remove Assetcare From Your Credit Report
You don’t have to wait seven years for removal. Three proven strategies can get Assetcare off your credit report faster.
1. Demand Debt Validation
The Fair Debt Collection Practices Act gives you powerful rights. You can force Assetcare to prove you owe the debt. Send a debt validation letter requesting specific proof.
Ask for these items in writing:
- The original creditor’s name and account number
- The exact amount you allegedly owe
- A copy of your original contract with the creditor
- Proof Assetcare is licensed in your state
- Documentation showing Assetcare owns or has rights to collect the debt
Mail your validation letter within 30 days of first contact. Assetcare must stop collection efforts until they provide proof. If they can’t validate the debt, they must remove it from your credit report.
Our partner Solo helps you create a professional debt validation letter in minutes. Many collection agencies can’t provide proper documentation. You might owe nothing at all.
2. Negotiate a Pay-for-Delete Agreement
Pay-for-delete means exactly what it sounds like. You pay the debt, and Assetcare deletes the collection from your credit report. Both parties benefit from this arrangement.
You need to get the agreement in writing before sending payment. Email or regular mail works best. The written agreement protects you if Assetcare doesn’t follow through.
Here’s how the process works:
- Contact Assetcare and propose removing the collection for payment
- Negotiate the amount if possible (many collectors accept less than full balance)
- Get written confirmation they’ll delete the entry after payment
- Pay using a traceable method like certified check or money order
- Wait 30-45 days and check your credit report for removal
Most debt collectors refuse pay-for-delete requests. They worry about setting precedent with other consumers. But some agree, especially for smaller medical debts. You lose nothing by asking.
3. Request a Goodwill Deletion
Already paid the Assetcare debt? You can still request removal. A goodwill deletion asks the collector to remove the entry as a favor.
Your success depends on your explanation. Document any hardship that caused the original debt. Medical emergencies, job loss, or family crisis work best. Include supporting documents like hospital bills or termination notices.
Write a polite, professional letter explaining your situation. Emphasize your payment history since resolving the debt. Show you’re financially responsible now. Some collectors honor these requests for good customers.
What to Do If Assetcare Sues You
Some collection agencies file lawsuits to force payment. If Assetcare sues you, don’t ignore the court summons. Ignoring a lawsuit guarantees you lose by default judgment.
You must respond to the lawsuit within the deadline stated on your summons. Most states give you 20-30 days to file an Answer. Your Answer addresses each claim in the Complaint.
Our partner Solo helps you draft and file a proper Answer to debt collection lawsuits. Fighting back often leads to settlement or dismissal. Collectors frequently lack proper documentation to win in court.
Understanding Your Rights Under the FDCPA
The Fair Debt Collection Practices Act protects you from abusive collection practices. Assetcare must follow strict rules when contacting you. Violations give you grounds to sue the collector.
Assetcare cannot:
- Call you before 8 AM or after 9 PM
- Contact you at work if you tell them not to
- Harass, threaten, or use profane language
- Discuss your debt with family, friends, or coworkers
- Misrepresent the amount you owe
- Threaten actions they cannot legally take
- Continue calling after you request written communication only
Document every interaction with Assetcare. Save voicemails, letters, and emails. Record call dates, times, and what was said. Evidence of FDCPA violations strengthens your position.
How to Dispute Assetcare With Credit Bureaus
You can dispute the Assetcare entry directly with credit bureaus. The three major bureaus are Experian, Equifax, and TransUnion. Each bureau must investigate your dispute within 30 days.
File disputes online or by mail with each bureau. Explain why the entry is inaccurate or unverified. Include supporting documents like validation letters or payment receipts.
Credit bureaus contact Assetcare to verify the debt. If Assetcare doesn’t respond or can’t verify, the bureaus must remove the entry. You get a clean credit report without paying questionable debt.
Should You Pay Assetcare or Let It Age Off?
Unpaid collections disappear after seven years. You might wonder if waiting beats paying. The answer depends on your situation.
Pay if you need credit soon. Mortgage lenders and car dealers scrutinize collection accounts. Paying or removing collections improves your approval odds and interest rates.
Consider waiting if you don’t need credit for years. The collection’s impact decreases over time. After three or four years, the damage lessens significantly. Collections over two years old barely affect your score.
Medical debts receive special treatment under newer credit scoring models. FICO 9 and VantageScore 3.0 ignore paid medical collections. Unpaid medical collections count less than other debt types. Paying medical debt helps more than paying other collections.
Protecting Your Credit Going Forward
Dealing with Assetcare teaches valuable lessons. You can prevent future collection accounts with smart financial habits.
Check your credit reports every four months. You get one free report yearly from each bureau at AnnualCreditReport.com. Rotate bureaus every four months for year-round monitoring.
Set up payment reminders for all bills. One missed payment can lead to collections. Automatic payments prevent accidental oversights. Even small medical bills deserve attention.
Negotiate medical bills before they reach collections. Hospitals and doctors often offer payment plans or reduced settlements. Contact providers immediately if you can’t pay. Most prefer payment arrangements over collection agency involvement.