Are you dealing with unwanted contact from debt collectors? It can be a stressful situation to find yourself in. Meanwhile, worrying that it could end up harming your credit report can make it even more nerve-wracking - but this situation doesn't have to be hopeless.
This article is here to help you understand the ins and outs of dealing with debt collection agencies like Helvey and Associates, including what they do, what your rights are when they call, and how to have them removed from your credit report.
By the time you finish reading this article, you will have all the tools necessary to untangle yourself from unnecessary debt collections and protect your financial health.
Third-party collection agencies like Helvey and Associates - founded in Warsaw, IN in 1955 - typically work by purchasing debts from the creditors at a discounted rate, and then pursuing the consumer for repayment.
When contacted, the individual or business who owes on the debt is informed of how much they owe and are then requested to make payments directly to the collection company. In some cases, debt collectors may accept payment plans or negotiate a settlement with the debtor in order to facilitate payments.
If these alternative arrangements fail and payments are not forthcoming, debt collectors have the option to pursue legal action for repayment.
Yes, Helvey and Associates is a legitimate company - they are legally licensed to collect on debts. More information about the company can be found below:
Despite being a legitimate company, Helvey and Associates has earned an unfavorable reputation due to its 1-star rating with the Better Business Bureau and the hundreds of complaints filed against it from consumers.
Given their dubious practices, if you’ve been contacted by them, it’s best to do your research first – learning about your rights and how to protect yourself in such a situation – or consider seeking legal assistance before engaging further. Taking proactive steps can help ensure that you're not taken advantage of by a less-than-scrupulous collector.
When Helvey and Associates calls to discuss a debt owed, remain calm and remember you have rights—including the right to know how much is owed and who you owe it to. You also have the right to dispute any errors or discrepancies in the debt you are accused of owing.
The Fair Debt Collection Practices Act (FDCPA) protects you from deceptive or harassing collection practices and lays out other fair debt collection procedures. By understanding and familiarizing yourself with federal laws regulating debt collection, you can better protect yourself from unfair practices or unwarranted pressure.
The following behaviors are prohibited under federal law:
Filing a lawsuit against a debt collector who has violated your rights is an important step to protect yourself, but it's not an easy decision to make. To ensure success, the first thing you should do is document any behaviors or communications that might constitute a violation so you can evidence it when taking legal action.
Additionally, you'll want to seek counsel from an attorney with experience in consumer law. They can provide valuable advice on how best to proceed, as well as represent you through every stage of the process.
Disputing a collections account on your credit report can be an uphill battle. Before beginning, it is important to understand that any dispute may take up to 30 days for results and during the process, you could potentially see a dip in your credit score.
Additionally, disputing doesn't mean that the negative item will be removed; it just means that the accuracy of the information will be investigated. To dispute the items, here are four key steps to follow:
After completing these steps, it is important to note that challenging an account does not erase legitimate debts owed and doesn’t relieve you from paying what is due if they prove accurate during investigation by creditors and/or credit bureaus alike - instead, it simply works to increase accuracy on your credit report by ensuring their records match yours exactly in accordance with federal law (FCRA).
It is also essential to remember throughout this process not to contact the collector yourself as this could adversely affect an ongoing investigation or even validate an otherwise inaccurate debt – allowing them more time under which they may pursue legal action against you if applicable in some cases.
Struggling with debt collections can leave you feeling disheartened, but Fair Credit's experienced consumer law attorneys are here to help. We provide the necessary guidance to get back in charge of your financial future, utilizing free case reviews tailored to your individual circumstances so we can create the best plan for you.
Don't wait - connect with us today to get started repairing your finances.