How To Get Wakefield And Associates Off Your Credit Report

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Wakefield and Associates is a debt collection agency. This means that they are known for purchasing unpaid debts from creditors or have been hired by one of your creditors to collect the repayments from you. 

Not only do debt collection agencies take an emotional toll on the person in debt, but they can also have serious financial consequences, including a negative impact on your credit score. In some cases, you may even be sued depending on the severity of the situation.

In this guide, we’ve gathered everything you need to know about Wakefield and Associates and how you can get them off your credit report. 

Also read: Can I Pay Off My Mortgage Early? 

piggy bank

Who are Wakefield and Associates? Are They Real?

The first questions that often come to mind when people are contacted by Wakefield and Associates are: who are they? Are they even real? As mentioned above, they are a debt collection agency who are either hired by creditors to collect a debt, or they have purchased an unpaid debt from a creditor and are now responsible for collecting repayments from you. 

In a climate full of illegitimate debt collection agencies that aim to scam unknowing customers out of hard-earned money, it’s understandable to question the authenticity of Wakefield and Associates. They are a legitimate business and were established in 1986.

Its main headquarters is located in Aurora, Colorado with additional offices in Knoxville, Tennessee, and employs over 175 people. They are not an accredited company and have had approximately 377 complaints closed within the past three years. 

Due to their presence throughout the United States, they do have multiple trade names, including the following:

  • Wakefield and Associates Inc

  • Wakefield and Associates Morgan Colorado

  • Wakefield and Associates Colorado

  • Wakefield and Associates Knoxville TN

  • Wakefield and Associates Jefferson City MO

 

How to Get Wakefield and Associates Off Your Credit Report

It may seem endless and impossible, but there are certain steps you can take in order to get Wakefield and Associates off your credit report once and for all. The first thing you should learn about is the New Federal debt collection regulations that have been put in place since November 30, 2021. 

The key to following these steps is to make sure that you don’t panic and don’t ignore the situation. Instead, follow this guide, and you’ll be able to understand and fight against the company.

Also read: What is a Bridge Loan? 

 

  1. Knowing Your Rights 

The first step you need to take is knowing your rights as laid out in the Fair Debt Collection Practices Act (known as FDCPA). Here are the key points you should know:

  • Debt collectors are not allowed to call you before 8 am or after 9 pm.

  • Debt collectors are not allowed to call your place of work.

  • Debt collectors must communicate through your lawyer if you have one.

  • Debt collectors are not allowed to discuss your debts with family members or friends.

  • Debt collectors are not allowed to threaten you or use profane language.

  • Debt collectors always have to identify themselves and their company and are not allowed to claim that they are law enforcement or any other official. 

  • Debt collectors are not allowed to threaten you with the seizure of assets or imprisonment.

If you believe that your debt collector is violating any of the above rules, you should report them to the CFPB, FTC, and your state’s attorney general. 

Also read: Checklist For Moving Into Your New House

calculator and paper

  1. Validating and Verifying The Debt

Following the aforementioned New Federal debt collection regulations that have been in effect since November 30, 2021, debt collectors must always send you a Notice of Debt within five days from initially contacting you. The Notice of Debt will contain more information than was previously provided before the regulations came into effect. 

The Notice of Debt must contain valid information such as an itemization date. If any information is incomplete, this renders the debt uncollectible until the Notice has been corrected. 

The itemization date can be one of the following five dates:

  • The date when the last invoice or statement was sent to the consumer from the creditor.

  • The charge-off date.

  • The date when the last payment was applied to the debt.

  • The date when the transaction had given rise to the debt.

  • The judgment date if the debt has led to a court judgment.

The date is important as it will establish whether the Statute of Limitations has expired. 

There is other essential information that the Notice of Debt needs to contain. This includes: 

  • The name and mailing address of the debt collector.

  • The full name and mailing address of the consumer.

  • Information of the creditor if the debt is linked to a financial product such as a credit card or a loan. 

  • The debt’s account number.

  • The creditor who currently owns the debt.

  • How much is owed in the current debt as well as an itemized list of payments that have been made, additional fees such as interest, and any other charges.

Lastly, the Notice of Debt must also include a statement that advises you of your rights as dictated by the Fair Debt Collection Practices Act. One of your rights is the right to dispute the debt within 30 days after you have received the letter. 

The Notice of Debt will also come with a form that can be returned should you desire to dispute the debt. There are three reasons why you are allowed to dispute the debt. These are:

  • You believe that the debt is not yours.

  • The debt amount provided is incorrect.

  • Other (in this instance, you will need to provide additional information).

Making sure that you read through the information carefully is paramount, especially when dealing with debt collectors such as Wakefield and Associates. This is because debt collectors may not have the required information needed to verify a debt

If you decide to dispute the debt, you will need to send your debt collector a certified letter that addresses these issues and request the following information:

  • Always ask for further documentation that verifies the debt. This can be a copy of your original contract.

  • Inquire whether the statute of limitations has expired on the debt. Debt collectors may not tell you, but they are not allowed to lie. If they don’t tell you, this may be a sign that the statute of limitations has expired and should be investigated further. 

  • Make sure that the debt collection agency is fully licensed to collect debt in your state. You can ask for their specific license information. The debt collector may not tell you, but again, they are not allowed to lie. 

  • Request a copy of the most recent billing statement that was sent by the original creditor.

Send this letter to Wakefield and Associates using certified mail. 

Also read: How to Apply For a FHA Loan?

 

  1. Stopping Calls From Wakefield And Associates

Since the new regulations have come into effect, debt collection agencies are not allowed to contact you as often as they used to be able to. Previously, debt collectors were allowed to call as many as 15 times a day. However, now there is a stricter limit as debt collectors are not allowed to call you more than 7 times within 7 consecutive days

Debt collectors are able to contact you via text message or email, but you are able to communicate with them when they are permitted to contact you. 

There are ways that you can stop all communication from Wakefield and Associates. Follow these steps:

  1. Write a “cease” or “stop contact” letter to Wakefield and Associates, clearly requesting that they stop contacting you.

  2. Make sure you keep a copy for your own records and send the original across to Wakefield and Associates. 

  3. Make sure that you send the letter with a “return receipt requested” so you can have proof that you sent the letter.

Follow these steps exactly and it should work. 

Also read: Pay Rent With a Credit Car
 

  1. Contacting the credit bureaus to contest the debt

If you firmly believe that the debt collection agency has not validated the debt properly, you can contact the credit bureaus and file a dispute. You will need to file a separate account and complaint with each credit bureau as they work and judge separately. 

The main credit bureaus to contact are:

You can contact each one either via mail, telephone, or electronically depending on your preference. They will then conduct their own investigations and verify the debt. If they are unable to do so, then the debt must be removed from your credit report. 

 

  1. Settling The Debt With a Pay For Delete Agreement

The last stage when dealing with debt collectors is settling to resolve the situation. Although there may be instances when the collection debt isn’t actually yours, the majority of cases do show that collection debts do belong to the person involved. 

It may seem an odd prospect, but you are able to negotiate how much you pay back with your debt collector. On average, collection agencies tend to settle for between 40 and 60 percent of the remaining balance. This can result in thousands of dollars being saved and ensure that you are debt-free sooner than later. 

The best way to start negotiations is by offering around 10% and seeing what they say. Make sure that they don’t push you around to ensure that you settle on an amount you are comfortable with. 

signing a paper

Conclusion

Dealing with Wakefield and Associates is never going to be a nice experience, but making sure you understand how you can fight back will help you in your bid to get them off your credit report.

Make sure that you don’t panic and read up on your rights and use resources available to you that will allow you to negotiate, and you will be getting rid of Wakefield and Associates before you know it. 

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How To Get Wakefield And Associates Off Your Credit Report
James Wilson

After graduating from McCombs School of Business in Texas, James joined ThePayStubs as a CPA to make sure the numbers we provide our clients are correct. Read More

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