AssetCare on Your Credit Report? Fight Back and Win

If you’re receiving phone calls from AssetCare, it most likely means that you have an account in collections. Debt collectors are relentless in their pursuit to extract money and have been known to harass people until they cave in. That’s especially true when you’re up against AssetCare, a company with a bad reputation and numerous complaints.

Fortunately, you can turn it around by getting them to stop calling you, and you don’t have to pay the complete debt as a lump sum. Understanding your consumer rights and who you can turn to for help is important. Read to the end of this page for valuable insights into how you can put an end to these pesky phone calls.

Is AssetCare a Fraudulent Company?

No, AssetCare is a legitimate debt collection agency specializing in the medical industry. They are based in Dallas, Texas, and have a license number for the business issued by the Texas Secretary of State. They have been in business since 2016 and have become one of the industry's biggest healthcare debt collection agencies.

There have been multiple complaints about AssetCare demanding debt payments significantly  larger than the actual debt. They have also been known to use aggressive tactics and break the rules set by the FDCPA. However, this doesn’t mean they are a scam, and you can’t simply ignore them.

An Overview of AssetCare’s Complaints and Poor Track Record

A quick online search reveals that AssetCare is a bad actor in the debt collection industry with a long list of troubled debtors. For example, they have a score of 1.25 out of 5 on the Better Business Bureau (BBB), and have received over 227 complaints during the last 3 years. Reading through some of the customer reviews suggests that AssetCare employees harass and speak in a threatening manner - that’s illegal and if you experience this type of behavior there is grounds for legal action. 

Another customer review shares that AssetCare employees are providing the wrong information about debts. In fact, they demand payments much higher than the real number. You shouldn’t have to pay more money than owed, and that’s why getting the help of a credit solution company can pay for itself. 

Other reports include phone calls at unsocial hours several times per day. Firstly, according to the regulator standards set by The Fair Debt Collection Practices Act (FDCPA), AssetCare and other debt collection agencies are only permitted to call between 8am and 9pm, unless they have specifically made arrangements with the debtor to call outside of these hours. Secondly, you can get the collector to stop calling you altogether if you put it in writing and send a letter.

Who is AssetCare Making Collections For?

You might be wondering who AssetCare is working for and where the debt has come from. You should be asking these valid questions, but getting the answer isn’t always simple. Some debt collection agencies work on behalf of other companies to retrieve the debt. Alternatively, they might buy the debt for pennies on the dollar and pursue the collections process for themselves.

AssetCare specializes in the medical industry, so the debt might originate from a hospital visit. However, some negative experiences shared on the Better Business Bureau website suggest that AssetCare is demanding debt for visits to hospitals the debtor has never attended. 

This is alarming, and it’s not uncommon for a debt collection agency to work with incorrect information. Furthermore, some debt collection services have been known to pretend to work for a government agency to pressure people into paying their debts. The FDCPA prohibits this, and they also cannot claim to work for a consumer reporting agency. 

Finally, if you receive threats of being arrested by the debt collection agency, then you have nothing to worry about with this harassment type. It’s an illegal move on their part and you cannot be placed in prison for failing to pay your medical bill on time.

How Do I Fight Back If AssetCare is Suing Me?

Debt Collection agencies may start legal action against you when they have run out of options. Understandably, getting sued is an upsetting and stressful event, but you can fight back and get a successful outcome. 

It’s important not to make their case easier by admitting to owing debt - instead, they should make a case for why you owe the debt they are claiming. Also, you must research your rights to ensure that you’re ready for the legal battle.

Don’t delay in responding to complaints and legal proceedings since AssetCare might win based on a default judgment. As we’ve learned from other debtors, they have a track history of asking for more debt than they should, so a default judgment might lead to a higher sum than if you fight back.

When disputing a debt, you must build a case for why you think it’s not legitimate. Gathering the relevant evidence will help you make a strong case that the debt collection agency cannot win against. Furthermore, we recommend you seek legal counsel from a consumer rights organization or service that specializes in helping debtors fight back against debt collection agencies.

Having someone in your corner that knows how to navigate the choppy legal waters for debt collection will take a big burden off your shoulders and give you the best chance to win the case. 

Get in Touch With the Professionals at Fair Credit

The insight and advice given about dealing with AssetCare is a good start to navigating the complicated issue, but it’s just the tip of the iceberg. Debt collection companies understand the weaknesses of most debtors and how to exploit them - whether it’s through threats of reducing the quality of your credit report or a relentless number of phone calls. 

You don’t have to deal with AssetCare alone, and that’s where our expertise comes in - we help customers deal with debt collection agencies. If your debt has spiraled out of control and you don’t know what to do, contact us today to learn more about how we can provide a solution.