TrueAccord is a debt collector who can show up on your credit report if you fail to pay a creditor who has sent your account to collections. Going through a collection account can be stressful, but know that you do not have to accept wrongful or unfair markings on your reports.
This article will guide you on how to have TrueAccord removed from your credit report with a specific focus on the dispute methods and how CreditSage can assist you in valuably navigating this process.
Understanding TrueAccord and Its Impact on Your Credit Reports
TrueAccord is an automated forward collection service for managing debt collection processes. Unlike traditional collection agencies, which rely almost entirely on telephones or written communication with consumers, TrueAccord communicates through email, SMS, web platforms, and social media. If TrueAccord is on your report, it means a creditor has sold or assigned the debt to them.
TrueAccord on Your Credit Report
When TrueAccord collects a debt for a creditor, the collection account usually gets reported on your credit report. This harms you financially as collection accounts represent significant negative components according to the credit bureaus. If it stays for a couple of years on your report, it can mean serious damage to your credit score and affect your chances of securing loans or credits in the future.
When to Remove TrueAccord From Your Credit Report
TrueAccord can also be present on your credit report even if the debt was paid, disputed or inaccurate. It is important to note that any erroneous or outdated information related to this account should be disputed. According to the Fair Credit Reporting Act, all the information concerning your credit report should be accurate and verifiable. In the event that TrueAccord reported something incorrectly, you have the legal right to refute this.
The Legal Process for Disputing Collection Accounts
The first step to taking TrueAccord off your report is to understand the legal process for disputing collection accounts. The credit bureaus, Equifax, Experian, and TransUnion — according to the Fair Credit Reporting Act (FCRA) — are under obligation to ensure that what is on your credit report is accurate. In case TrueAccord is reporting something that is not accurate, it is you who must dispute it directly through the credit bureaus.
Review Before Disputing Collection Accounts
When you intend to dispute a collection account, it is important to review each detail contained in your credit report so you can know what to argue against any inaccuracies. This means looking at account details on TrueAccord for debt amounts, date of original debt, and any updates or statuses for that account.
Common errors which may lend themselves to incorrect reporting include the following:
- Reporting the wrong balance or amount owed
- Reporting incorrect dates of the debt or last payment
- Reporting the debt to be active when it was settled or paid off
- Failing to mark the account as paid or settled upon payment thereof
Dispute with Credit Bureaus
After pinpointing any discrepancies, you can file disputes with credit bureaus via online, mail, or telephone. After determining the dispute, the credit bureaus are supposed to investigate within 30 days and report back to you on their findings. Should the collection account be inaccurate or unverifiable, then it is taken off your credit report.
Dispute With TrueAccord Directly
In some rare cases, doing some consumer advocating on the debt with TrueAccord itself can help you, especially if the information found gave incongruity with what you believe. You could get TrueAccord to prove the debt they are reporting. If they don't provide them with proper verification, they have to take that collection account off your credit report.
Common Reasons for TrueAccord Removal
There are quite a few legitimate reasons that would justify the removal of TrueAccord from your report. Knowing these commonplace reasons should help you to build a stronger case for removal. They are as follows:
- Incorrect information — If TrueAccord is reporting inaccurate or outdated information, this basis can legitimately remove it from your credit report. For instance, if TrueAccord lists the account as open or active after you have already settled it, or it is reporting the wrong amount, you can dispute this.
- Expired Debt — Collection accounts cannot linger on your credit report indefinitely. Under the FCRA, most collection accounts may be on your credit report for only seven years from the date of the first default. After that, the collection account must be removed.
- The Debt Is Not Yours — In such cases of mistaken identity, a credit may be shown under your name by TrueAccord. If you truly believe this is not your debt, a dispute may be initiated by you with TrueAccord and the credit bureaus, along with whatever documentation might entail substantiating that it belonged to some other person or persons, be it clerical error, fraud, confusion of accounts, or all.
- False Reporting of Payments or Settlements — False reporting occurs when TrueAccord falsely or inaccurately continues to report a debt as unpaid after substitute payment arrangements have been completed or settled. Be sure to keep proof of all payments or settlements made to TrueAccord — like your bank statements or settlement agreements. If they do not mark the debts as paid or settled, you can demand that they take action on this matter.
- Failure to Validate the Debt — If they ever refuse to validate the debt after your verification request, TrueAccord will stop posting the collection on your report in keeping with FCRA regulations. Therefore, should the debt collection agency fail to validate the debt, they will be compelled to disclose verifiable evidence of the contested debt with the removal of the account.
How CreditSage Can Help You Dispute TrueAccord
By addressing errors on Credit Reports, many people have found this too troublesome and time-consuming. For instances like this, CreditSage does the trick. As a credit repair organization, CreditSage does the entire dispute process on your behalf so that any inaccuracy—TrueAccord included—will be taken care of.
CreditSage's Experience with Credit Disputes
CreditSage has such an extensive history of working on credit report disputes. They know the issues involved in working with debt collectors like TrueAccord. The legal framework governing the FCRA poses so much complexity. The good thing is their staff members are utterly knowledgeable of parts of the FCRA that may assist you in the legal proceedings regarding disputing collectible accounts.
Full-Service Dispute Process
It basically gets down to this: you will hand over the responsibility of CreditSage to go over your credit report for errors, including those concerning TrueAccord. After that, CreditSage shall notify and file disputes with credit bureaus and with TrueAccord regarding the slated disputed areas. Furthermore, they will continue to monitor your credit report for you and notify you if there are any new developments or responses.
Knowledge of Consumer Rights
Another significant advantage of working with CreditSage is their knowledge of consumer rights. They are very knowledgeable about the credit report laws, including the FCRA, and ensure that TrueAccord plays its fair share in providing accurate reporting. If there are any wrongdoings committed by TrueAccord, CreditSage will arm you with some legal safeguards through which you can successfully remove that account.
Preventive Measures to Keep Bad Reporting off Your Future Credit
Jeffreys will advise you on it, by now you must have won your contest and had TrueAccord removed from your credit report, keep your credit healthy so it doesn't happen again. Here are some measures to avoid red marks on any credit report:
Regular Credit Monitoring
Closely monitoring one's credit report periodically ensures clarity about anyone's credit status as far as possible. This would help in timely identification of any errors thereby giving one an opportunity to refute them before they can reflect negatively on one's credit. There are innumerable organizations like CreditSage that offer credit monitoring services and allow easy tracking of one's credit report.
Pay Your Bills On Time
Paying bills on time is one of the most important things you can do to keep any lending relationship going. In case you find yourself unable to make the payments for a little while, it can also help to get an overview of the entire payment history by discussing the payment arrangements with the creditors. The very first recommendation is that you stay current on your payments to avoid default or collection.
Communicate With Creditors
If you owe money, talk with your creditors before defaulting on a payment. If you contact them and let them know about your financial situation, a lot of creditors will work with you. This way, collection agencies like TrueAccord have fewer chances of becoming involved in the process.
Keeping Low Debt-to-Income Ratio
It is very simple to keep checking your debt-to-income ratio; more so to avoid being frustrated with over-extending borrowing limits. This should be a main determinant for the lenders to see what is actually affordable for a person to borrow. Keeping up with debt should reduce the chances of falling into collection and possible consequences of a loss of ability to pay.
Seek Professional Help If Necessary
You can seek assistance from CreditSage or some other organizations if collecting debt or correcting errors is complicated or overwhelming. They will recommend needed solutions to you regarding your credit report and also guide you through the dispute process in order to ensure that your credit health remains intact.
Enlisting Professional Help through CreditSage
If you take the correct approach to dispute the TrueAccord entries on your credit report, it can be removed. Whether you are dealing with the problem directly on your own or enlisting the help of CreditSage, make sure that proactive steps are taken to address your credit health.
Keeping yourself informed, highlighting and dealing with any issues firsthand, and having a clear history with regards to the financial accounts will depict a harmonious financial history and ensure such issues do not happen again.