How to Remove Pioneer Credit Recovery from Your Credit Report
If you have forgotten to pay a bill, especially in this current COVID pandemic, your unpaid debt may shopped out to the debt collection industry.
Unfortunately, you may begin to hear from a debt collector called TrueAccord.
They will appear on your credit report as reported by the three credit reporting bureaus as a collection agency, and this entry can cause problems for your credit score.
Not only are debt collectors annoying, but having one like TrueAccord on your credit report can let other financial service lenders know that you tend to be late on payments.
This can impact your ability to qualify for a mortgage, car loan, or various credit cards in the future.
Collection accounts can damage your credit score for up to seven years, even after you pay off the debt.
However, it is possible to get them removed before the seven years are up. You may find that you don’t even have to pay the debt at all.
Check out the article below to learn more about how to get TrueAccord off your credit report once and for all.
What is TrueAccord?
TrueAccord is a medium-sized debt collection agency that collects on behalf of credit card issuers, real estate companies, and technology and eCommerce providers.
They were originally founded in California in 2013, and they are currently headquartered in San Francisco with Ohad Samet as the President.
Although TrueAccord Corp is a legitimate company and not a scam, they are not popular among the people that work with them. TrueAccord has about 146 complaints filed against them with the Consumer Financial Protection Bureau (CFPB) and roughly 33 within the past three years with the Better Business Bureau (BBB).
They are known for their patent-pending machine learning automated system use within their call centers, appealing to many Fintech companies.
The majority of these complaints are in regard to harassment, inaccurate reporting, and failure to respond to debt validation requests.
Steps to Remove TrueAccord from Your Credit Report
The worst thing that you can do when facing a debt in collections is to ignore it. If you procrastinate, this is only going to make the situation worse.
One of the most popular questions we receive is, “Can a debt collection agency sue me or garnish my wages?” The answer is yes, but don’t panic.
Luckily, there are steps that you can take to get TrueAccord off your back for good.
Here are the essential steps to take to remove a TrueAccord collection account from your credit report:
- Request a Goodwill Deletion
- Validate the Debt
- Negotiate a Settlement
- Hire a Professional
As a general disclaimer, the information in this article is not meant to substitute as legal advice. Please seek a law firm if your situation warrants it.
Request a Goodwill Deletion
If you have a relatively clean record besides this collection, you may be able to get away with securing a goodwill deletion.
A goodwill deletion is when a debt collector agrees to stop reporting your debt out of benevolence.
In this case, TrueAccord will likely only grant you a goodwill deletion if you have already paid the debt and are on-time with all your payments.
To request a goodwill deletion, write a letter to TrueAccord explaining why you were late on your payment.
If you had a family emergency or were laid off from work, this is good to mention as it builds a narrative around the reason for your debt.
You should also mention why you would like the collection removed from your credit reports, such as wanting to buy a house or a car.
When you are writing your letter to TrueAccord, be sure to be cordial and polite.
If you demand that they remove the debt because you have already paid it, they likely will not grant you a deletion.
Remember that you are asking TrueAccord for a favor, and you will have the most success if you treat them with kindness instead of entitlement.
Validate the Debt
If a goodwill deletion doesn’t work out, your next step would be to validate the debt information. This is a way that you can have the debt deleted on a technicality.
It is also a good thing to do immediately, no matter what, to ensure that TrueAccord has the correct information about your debt.
You have a right under the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA) to ask TrueAccord to verify the debt information.
These acts also protect you from debt collection companies from using harassing language or threatening to garnish wages without provocation.
After all, you don’t want to make payments on debt before confirming that it belongs to you.
Requesting debt validation tells TrueAccord that they must prove the account belongs to you before you will discuss payment.
To formally request this, you will need to write a debt validation letter to TrueAccord, preferably through certified mail for paper trail purposes.
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A debt validation letter is a formal request to TrueAccord to verify the debt information.
This letter will ask them to verify specific pieces of information, such as the date, owner, and amount of the debt.
Most people have never written a debt validation letter before. That is why I have created a template that can help you get started on yours.
After you send the debt validation letter, TrueAccord should return with documents and other forms of evidence that the debt belongs to you.
Be sure to look over these documents and check for any inaccurate information.
If you find anything that seems off, you can file a dispute with the three major credit bureaus. The bureaus will then contact TrueAccord themselves to verify the collection.
If TrueAccord fails to validate the account, you are no longer responsible for paying the debt.
TrueAccord should contact the three major credit bureaus and have them remove the account from your credit report.
Negotiate a Settlement
After you validate the debt, you should try to negotiate a settlement with TrueAccord. Specifically, you should work out a pay-for-delete agreement to remove the debt.
A pay-for-delete settlement is exactly what it sounds like; you agree to make payments or agree on a payment plan on the debt in exchange for TrueAccord to stop reporting the debt to the major credit bureaus.
What most people don’t realize is that most debt collectors are willing to settle for less than the total balance of their debt.
You may get some initial pushback, but it is entirely possible that you can save some money through negotiating a settlement.
Start by offering to pay half of the total amount of the debt. Negotiate with TrueAccord until you come to an agreement that you are both happy with.
Tell them that they need to send you a written agreement that clearly states that they will delete the account if you pay it.
Make sure that you don’t pay a dime to TrueAccord until you have received this document and are happy that they haven’t used vague wording to weasel their way out.
After you make the first payment, wait 30 days, and check your credit report. TrueAccord should no longer appear as a collection account.
If they do, reach back out to them and let them know that they have not upheld their end of the bargain.
Get a Free Copy of Your Credit Report
Hire a Credit Repair Company
You may find that you aren’t getting anywhere with TrueAccord, no matter how hard you try. This is when the services of a credit repair company can be extremely beneficial to you.
Credit repair companies specialize in removing any dings or negative entries from your credit report.
They will review your credit report and financial habits and identify the reasons why your credit score is dropping.
Their assistance can help you improve your score, which allows you to qualify for a mortgage, auto loans, and credit cards when you need it. In fact, you may not have to talk to TrueAccord again.
While credit repair companies are an excellent resource, there are plenty of phony companies out there. It is important to work with a reputable company.
They will help you remove negative entries from your accounts, such as foreclosures, late payments, inquiries, and judgments.
They are consummate professionals and have deleted numerous negative accounts over their many years in the business.
Their assistance can help you clean up your credit report and begin to rebuild your credit score.
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TrueAccord Contact Information
Here’s their current contact information:
- Address: 303 2nd St, San Francisco, CA 94107
- Headquarters Address: 16011 College Blvd Ste 130, Lenexa, KS 66219
- Phone Number: 866) 611-2731
Dealing with TrueAccord
Facing TrueAccord head-on is a daunting task, but it is worth it to know that you are helping build a better credit score.
A good credit score can help you make large financial decisions with ease, such as buying a house or a car.
By taking the time to remove negative accounts that are dragging down your score, you are helping yourself get your credit score back on track.
If you are looking for more information on how to boost your credit score, be sure to check out some of our popular articles.
Make this year the year that you achieve your goals and invest in your financial future.
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