How to Settle Debt With TrueAccord Debt Collectors

Debt collection affects millions of Americans every year. TrueAccord is a digital-first collection agency that might be contacting you right now. By the end of 2023, US household debt had risen to $17.5 trillion.

TrueAccord uses modern technology to collect debts. They send emails, text messages, and even Facebook ads. You can fight back and protect your rights.

This article will show you how to handle TrueAccord effectively.

What is TrueAccord, and How Does It Work?

TrueAccord Corp is a full-service digital-first debt collection agency. They are licensed to collect in all 50 states. The company serves creditors across multiple industries.

TrueAccord collects on behalf of other companies. If they contact you about a debt, the original debt belongs to another company. They often purchase charged-off debts for pennies on the dollar.

TrueAccord primarily sends emails asking you to log into your account. You can check the outstanding bill, dispute it, or set up a payment plan. They also use text messages and social media to reach consumers.

These digital collection methods are legal. However, strict laws govern how collection agencies can communicate with you.

Contact TrueAccord

You may need to speak with TrueAccord about your account. Here is their contact information:

• Phone: (866) 611-2731
• Address: 16011 College Blvd Suite 130, Lenexa, KS 66219
• Website: TrueAccord.com

Who Does TrueAccord Collect For?

TrueAccord collects for many credit card companies and banks. They also work with various financial institutions. Notably, TrueAccord collects for many tribal lenders.

From 2017 to 2024, TrueAccord attempted to collect debts from approximately 29,000 consumers. These consumers had defaulted on loans issued by tribal lenders. Some of these loans carried interest rates as high as 900% APR.

These rates starkly contrast with legal limits in many states. Colorado law caps unlicensed loans at 12% APR.

TrueAccord Faces Legal Action

TrueAccord was recently accused of violating Colorado state law. They insisted that consumers owed full balances on predatory tribal loans. These loans carried 500%-900% APR.

According to state regulations, consumers are not obligated to pay finance charges exceeding 12%. They are entitled to refunds for payments made above this limit.

TrueAccord attempted to enforce tribal law over state law. State investigators intervened and filed charges under the Colorado Fair Debt Collections Act.

Colorado Attorney General Phil Weiser emphasized consumer protections against high interest rates. The settlement holds TrueAccord accountable for illegal collection practices. TrueAccord is now prohibited from collecting debts where interest rates exceeded state limits.

The Fair Debt Collection Practices Act requires debt collectors to treat consumers fairly. They must provide identifying information in their first digital communication. Collectors must also allow you to opt out of receiving messages.

TrueAccord Reviews and Complaints

TrueAccord has better reviews than most debt collection agencies. Out of more than a thousand Google reviews, they have an average rating of 4.6 out of 5 stars.

However, TrueAccord has received more than 300 BBB complaints in a three-year period. The CFPB reported almost 700 complaints against TrueAccord in the last ten years.

Here is a real complaint from a consumer:

“I am being harassed by this company via SMS messages regarding a supposed debt. I have no outstanding debts in collection. When I click their link to get more information, none of the possible zip codes match their account information. I tried calling their number, sat on hold, and was disconnected. I have not received any other communications besides SMS messages. They need to contact me with exact information in writing or correct their information.”

The Consumer Financial Protection Bureau and Better Business Bureau receive many complaints against collection agencies. Most consumer complaints involve inaccurate debt information, harassment, and failure to verify debt. Consider filing a complaint if you experience these situations with TrueAccord.

The Fair Credit Reporting Act and Fair Debt Collection Practices Act give you many consumer rights. Familiarizing yourself with these rules will help you handle debt collection interactions.

Know Your Rights Under the FDCPA

TrueAccord must adhere to specific regulations when collecting payments from you. The FDCPA prohibits debt collectors from engaging in predatory practices. They cannot lie to you, call incessantly, or contact you outside regular business hours.

Under the FDCPA, TrueAccord cannot:

• Call you before 8 a.m. or after 9 p.m.
• Threaten to harm you or your family physically or financially
• Use obscene or profane language during phone calls or other correspondence
• Call you at your workplace
• Discuss your debt with anyone but your lawyer or spouse
• Threaten to take legal action they cannot or do not plan to take

The Telephone Consumer Protection Act also requires TrueAccord representatives to follow these rules. Knowing these laws will allow you to take action against TrueAccord if they break them.

TrueAccord Uses Technology to Collect Debts

TrueAccord employs multiple digital methods to reach consumers:

• Text messages for banking and financial services debts
• Push notifications for healthcare and medical bills
• Facebook ads for utility and credit card debts
• Emails for real estate and past-due rent
• Automated voicemails for phone and utility bills

They collect various debt types including consumer loans, medical bills, credit cards, and telecommunications bills.

Send a Debt Validation Letter to TrueAccord

TrueAccord will call, email, or mail you if they believe you owe a debt. They will continue contacting you until you pay, prove the debt does not belong to you, or settle.

You can stop calls from TrueAccord by sending a Debt Validation Letter. A Debt Validation Letter is a formal request asking the debt collector to provide proof. You must mail it within 30 days after they first contact you.

Unless they respond with evidence within 30 days, TrueAccord cannot legally contact you. Here are three reasons you should send a Debt Validation Letter:

1. TrueAccord will stop contacting you until they can prove you owe the debt.
2. You will learn more about the alleged debt. Forcing TrueAccord to provide documentation helps you determine if the obligation is legitimate.
3. You can disown the debt. TrueAccord must delete the debt from your records if they cannot provide more information.

Note the Statute of Limitations

You may discover that your debt has passed the statute of limitations. TrueAccord cannot legally pursue you once a debt reaches this age. These are called time-barred debts.

The statute of limitations is between three and six years for most debts. The exact length depends on several factors, including your state of residence. Check your state attorney general’s website for specific information.

Negotiate a Debt Settlement With TrueAccord

If the debt is legitimate and less than seven years old, you have options. Paying off the debt is your best option. Paying back an account will boost your credit score.

You can try negotiation strategies when you pay:

• Settle the debt for less: Our partner Solo can help you start the negotiation process and set up a payment plan. Most collection agencies are willing to settle for a portion of the original amount. Since TrueAccord may have purchased your debt for pennies on the dollar, settling for a percentage still gives them a profit.
• Pay for delete: Paying off the debt might convince TrueAccord to remove the negative mark. Send them a pay-for-delete letter to begin these negotiations.
• Goodwill deletion: Use this strategy after paying your debts. In a goodwill letter, you request TrueAccord empathize with your situation and remove the mark from your credit report.

Respond to a Debt Lawsuit Against TrueAccord

If TrueAccord has sued you, you can represent yourself in court and win. The first step is to file a written Answer with the court. You have 14 to 35 days after receiving the lawsuit.

If you do not respond in time, a default judgment will be entered against you. A default judgment gives TrueAccord the right to garnish your wages or put liens on your property. Our partner Solo can help you draft an Answer within minutes.

Use these six tips to draft an Answer:

1. Keep it simple. Your Answer should focus on responding to the claims in the Complaint document. You can admit, deny, or deny due to lack of knowledge.
2. Deny, deny, deny. Most attorneys recommend that you deny as many claims as possible. Force TrueAccord to do more work to prove their case.
3. Include affirmative defenses. These are legal reasons that TrueAccord should not win the case. A common affirmative defense is the statute of limitations. If the debt is past this deadline, the lawsuit is void.
4. Use standard formatting. At the head of the Answer document, include a caption. List the court information, party information, and case number.
5. Include a certificate of service. You must serve your Answer to TrueAccord. At the end of your Answer document, verify the address you used.
6. Sign it. Most courts reject any legal documents without signatures.

Protect Yourself Against TrueAccord

Debt lawsuits affect ten million Americans each year. In 90% of cases, the respondents do not respond. You only have 14 to 30 days to file your Answer.

Defending yourself starts with responding to the lawsuit. Our partner Solo can help you represent yourself in court and beat TrueAccord. The service asks a couple of questions about your case. It prepares a response based on your answers and instructs you on how to proceed.

You have rights under federal law. TrueAccord must follow strict rules when collecting debts. Send a Debt Validation Letter to verify the debt. Check the statute of limitations for your state. Negotiate a settlement if the debt is legitimate.

Take action today to protect yourself from TrueAccord debt collectors.