Assetcare on Your Credit Report: What It Means and How to Fix It

You pulled your credit report and there it is: Assetcare LLC, a name you don't recognize, dragging down your score. If you've never heard of them, you're not alone. Assetcare is a medical debt collection agency, and they often show up on credit reports without much warning.

Here's what you need to know about Assetcare—and the three strategies that actually work to get them off your report.

Who Is Assetcare LLC?

Assetcare is a Texas-based collection agency founded in 2016. They specialize in medical debt, which means that mystery account is likely tied to a hospital bill, lab test, or ambulance ride you thought insurance handled.

Key details:

• Also operates as CF Medical VI, LLC
• Headquarters: 3400 Texoma Parkway, Suite 300, Sherman, TX 75090
• Phone: (888) 993-3604

Assetcare has racked up over 250 complaints on the Better Business Bureau in the past three years. Common complaints include refusing to validate debts, reporting accounts without proper notice, and attempting to collect on debts already paid. That pattern matters, because it gives you leverage.

Why Assetcare Showed Up on Your Credit Report

Medical debt follows a predictable path. You receive treatment. The provider bills your insurance. Insurance pays part of it (or denies the claim). The remaining balance sits unpaid for 60 to 180 days. The provider eventually sells or assigns the debt to a collector like Assetcare.

Here's the problem: you might not get proper notice at any of these steps. Bills go to old addresses. Insurance denials don't always reach you. Before you know it, a collection account appears on your report, often the first time you hear about the debt at all.

Medical collections under $500 no longer appear on credit reports under rules that took effect in 2023. But if Assetcare is reporting a debt above that threshold, it can drop your credit score 50 to 100 points and stay there for seven years from the date you first missed a payment.

Three Ways to Remove Assetcare from Your Credit Report

Waiting seven years is not a strategy. If you're planning to finance a car, rent an apartment, or buy a house, that collection account will cost you. Higher interest rates, larger deposits, outright denials,all because of a bill you may not have even known existed.

You have three moves:

1. Force Assetcare to Validate the Debt

Under the Fair Debt Collection Practices Act (FDCPA), debt collectors must prove you owe what they claim. Not just assert it,prove it with documentation. Many collectors, especially smaller agencies, can't or won't do this.

Send Assetcare a debt validation letter within 30 days of their first contact. Request:

• The name of the original creditor
• The exact amount owed (with an itemized breakdown if possible)
• A copy of the original signed contract or agreement
• Proof that Assetcare is licensed to collect in your state
• Proof they own the debt or are authorized to collect it

Send this letter via certified mail with return receipt. Assetcare must stop all collection activity until they respond with proper documentation. If they can't validate, they must remove the account from your credit report.

Given Assetcare's complaint history,consumers repeatedly report that the agency fails to provide validation,this tactic works more often than you'd expect. If they don't respond within 30 days, file disputes with all three credit bureaus (Experian, Equifax, TransUnion) citing the lack of validation.

2. Negotiate a Pay-for-Delete Agreement

If the debt is legitimate and you can afford to pay it, don't just send a check. Paying a collection account does not remove it from your credit report. A paid collection still tanks your score for years.

Instead, negotiate a pay-for-delete. This means Assetcare agrees to remove the account from your credit report in exchange for payment (often less than the full balance).

Here's how:

• Call Assetcare at (888) 993-3604 and ask to settle the debt in exchange for deletion.
• Start your offer at 30-40% of the balance. Medical debt often sells for pennies on the dollar, so collectors have room to negotiate.
• Get it in writing before you pay. The agreement must state they will delete the account from all three credit bureaus.
• Pay via cashier's check or money order (never give them direct bank account access).
• Keep the written agreement and proof of payment forever.

Not all collectors will agree to pay-for-delete,technically, credit reporting agencies prefer they don't. But many smaller agencies like Assetcare will take the deal because getting something is better than getting nothing.

3. Request a Goodwill Deletion

If you've already paid the debt (and didn't negotiate deletion up front), you can try a goodwill letter. This is a formal request asking Assetcare to remove the account as a courtesy.

Goodwill deletions work best when:

• You paid the debt in full
• The debt resulted from a one-time hardship (medical emergency, job loss, divorce)
• You have an otherwise solid payment history

Your letter should be brief, factual, and respectful. Explain the circumstances that led to the debt, emphasize that you've resolved it, and ask them to remove it so you can rebuild your credit. Send it to Assetcare's corporate address (not collections), and follow up if you don't hear back in two weeks.

Goodwill deletions are not guaranteed,you're asking for a favor, not enforcing a legal right. But they cost nothing but time, and some collectors will agree, especially if you've been cooperative.

What If Assetcare Sues You?

Debt collectors can sue for unpaid medical debts, and if they win, they get a judgment. That judgment allows them to garnish your wages or freeze your bank account in most states.

If Assetcare files a lawsuit, you must respond. Ignoring the lawsuit guarantees a default judgment against you. Instead:

• File an Answer with the court within the deadline (usually 20-30 days).
• Dispute the debt if you believe it's not yours or the amount is wrong.
• Request proof that Assetcare has legal standing to sue (they must own the debt or be authorized to collect it).
• Consider filing bankruptcy if you're drowning in medical debt and lawsuits,Chapter 7 eliminates medical debt entirely.

Many debt collection lawsuits settle before trial. If you respond and show up, Assetcare may offer a payment plan or reduced settlement rather than go through a court battle.

Check If Filing Bankruptcy Makes Sense

If Assetcare is one of many collection accounts dragging down your credit,or if you're facing multiple lawsuits,bankruptcy might be the fastest way to wipe the slate clean.

Chapter 7 bankruptcy discharges medical debt, credit card debt, and most personal loans. It stops lawsuits, wage garnishments, and creditor calls immediately. You can file without an attorney (pro se bankruptcy), and if you qualify based on income, the entire process takes about four months.

Use our free bankruptcy screener to see if you qualify and whether filing makes sense for your situation. It takes two minutes and gives you a clear answer.

Protect Your Credit Going Forward

Once you've handled Assetcare, lock down your credit so this doesn't happen again. Pull your credit reports from all three bureaus (free once a year at AnnualCreditReport.com) and dispute any errors you find.

Set up billing alerts with your medical providers. If insurance denies a claim, you want to know immediately,not six months later when it's already in collections. Many providers offer payment plans if you call before the bill goes to a collector.

If you're uninsured or underinsured, ask about charity care or financial assistance programs before treatment. Hospitals are often required to offer reduced fees based on income, but you have to request it.

The Bottom Line

Assetcare on your credit report means you likely have an unpaid medical bill. Don't ignore it,collection accounts drag down your credit for years and can lead to lawsuits. Start with a debt validation letter. If the debt is valid, negotiate a pay-for-delete or request goodwill deletion after paying. If you're overwhelmed by multiple debts, bankruptcy might be the cleanest path forward.