How to Remove Wakefield & Associates from Your Credit Report

Wakefield & Associates is a debt collection agency in the United States. If it has dinged your credit and is contacting you to collect on a debt or collection account, there may be steps you can take to have it removed from your credit report.^[1]

What is Wakefield & Associates?

Wakefield & Associates is a debt collection agency partnered with Revco Solutions, providing bad debt recovery, early-out services, and extended business office support. Wakefield & Associates provides collection services on claims and other insurance-related issues.^[1]

Debt collectors sometimes work for the company that initially did the billing. But there are also third-party agencies such as Wakefield & Associates that take over the debt collection process.

The company you owe reports your account as a “charge-off” or lost cause when that happens. They then sell your debt to a collections agency willing to take over and put resources into getting you to pay.

Wakefield & Associates is one of the companies that buys debts from third parties. Based in Knoxville, Tennessee, it operates as a debt collections agency that’s been in business since 1946.^[2]

Contact information

Wakefield & Associates is headquartered at 320 North Cedar Bluff Road, Suite 300, Knoxville, TN 37923, United States.

The company website is www.wakeassoc.com, and its consumer service and debt collections phone number is (866) 623-2072.^[3]

Is Wakefield & Associates a real company?

Wakefield & Associates is a real company.

You might also hear the company referred to as Wakefield Collections, Wakefield Payment Solutions, or Wakefield and Associates Inc. Wakefield also recently announced their merger with Revco Solutions under the name of Revco Solutions.^[4]

Who do Wakefield & Associates collect for?

According to Bloomberg, the company’s line of business includes “collection and adjustment services on claims and other insurance-related issues.”^[5]

The insurance-related issues are often connected to the healthcare industry, which the company refers to as its primary markets. It states that it services urban and rural hospitals, physician practice groups, dental practices, emergency medical services, and healthcare-related billing services.

While you could receive a collection call from Wakefield & Associates for various debts. Still, you would most likely hear from them regarding medical debt.

How to remove Wakefield & Associates from my credit report

There are several ways to potentially remove Wakefield & Associates and other collections records from your credit report. Steps include requesting a debt validation letter, negotiating a debt settlement, or writing a goodwill letter.

Request debt validation

On its own, a debt validation letter will not remove negative items on your credit report, and it doesn’t change your credit score. But, it gives you the details you would need to challenge the collection.

A debt collector is legally obligated to provide you a debt validation letter which is a document to prove you owe the money by verifying information on the claimed debt. The debt validation letter will contain how much you owe, who you owe, and why the collector believes you owe the debt. It also includes information stating how old the debt is and the agency’s authority to collect it.

The letter also needs to affirm your right to dispute the debt within 30 days and your right to request — and receive, in response to that request — more information about the original creditor.

A debt validation letter is required under the Fair Debt Collection Practices Act (FDCPA). It’s vital for piecing together the puzzles surrounding a debt, which could help you avoid making payments for an unfair or improper collection attempt.^[6] The Consumer Financial Protection Bureau received roughly 82,700 complaints regarding debt collection in 2020, and over half (52%) involved attempts to collect a debt not owed.^[7]

Negotiate a debt settlement

Debt settlement is a process in which you negotiate with a creditor to resolve your debt for less than what you owe. You could attempt the negotiation on your own or pay a third party, a debt settlement firm, to negotiate for you.

Either way, a settled debt appears on your credit report as a settled payment. Unfortunately, settled payments are negative marks on your credit report that may hurt your credit score. Also, there’s no guarantee that your attempt at a debt settlement will work.

To get to the point of negotiation, you have to stop paying your debts, which means you could end up as the target of a lawsuit. For example, suppose the collections agency sues you, and the judgment is against you. In that case, there's no longer an incentive for the collector to continue negotiating because they have the option to garnish your wages and banking accounts.

Depending on your debt accounts, a debt settlement might require you, or the hired agency, to negotiate with multiple creditors — and only some of those negotiations may be successful.

Write a goodwill deletion letter or pay for delete letter

Another available option is to write and submit a goodwill deletion letter to the creditor. A goodwill deletion letter is a document that asks a creditor to forgive a debt and remove the bad mark from your credit record. Reasons sometimes used in the letter are that you faced an unforeseen hardship, which is a rare exception since you have a history of paying bills on time under normal circumstances.

The only negative about this method is you are entirely at the mercy of the creditor. The creditor is not under any obligation to grant your request for forgiveness. Still, it’s a small tradeoff. Writing a letter is easy, so it doesn’t hurt to try.^[8]

If the debt is accurate and you can pay it off, try writing a pay for delete letter. In that letter, you would ask Wakefield & Associates to remove the negative mark on your credit report in exchange for paying off the debt.

Dispute the debt collection

If you don’t believe you owe the money that’s being sought, you have the right to dispute the debt collection. However, there’s a time limit to take this course of action. If you don’t submit a written dispute within 30 days, the debt collector will assume the debt is valid. Once you begin a debt dispute, the collector must cease all attempts to collect from you until it provides you with a debt validation, the required verification of your debt.^[9]

This issue happens more often than you might expect. For example, in 2020, about 82,700 people filed debt-collection complaints, and 52% of them said they were being asked to pay money they didn’t owe.^[7] That’s roughly 43,000 people who could have paid a debt they did not owe.

Filing a complaint about illegal collection tactics won't make your debt go away. But disputing the debt itself might if you can prove it isn't yours. Once you receive validation information from the debt collector, and you still don’t recognize the debt or believe it isn’t yours, you can send a written dispute letter stating that you don’t owe some or all of the money. You also have the right to request further verification of the debt.^[10]

Should you hire a credit repair company?

A credit repair company is a firm you could hire to try and remove negative items from your credit report. They can focus their efforts on the credit reporting agencies or the companies that filed the mark on the report.

Usually, credit repair companies make their money by billing you whenever an account is deleted. Some may attempt to charge you a flat monthly fee. Be aware, however, that this is against the law. The Credit Repair Organizations Act stipulates that credit repair companies can’t ask for or take payment until they have delivered the services they have agreed to.

Although some offer a free consultation, paying a company for credit repair services should be a last resort. That's because, with the correct information, you can do many of the same tactics the company would do on your own behalf.

Besides, no company can guarantee it can remove a negative mark from Wakefield & Associates or any other collector on your credit report. If the debt is accurate, the mark could remain on your credit history for seven years.

Keep tabs on your credit report

Like managing your credit card account, tracking your credit report and regularly checking your credit score are good habits for your financial health. Moreover, keeping tabs on your credit can help ensure no fraudulent charges or debts have been falsely assigned to you. In addition, staying on top of your credit can help avoid situations where collection agencies come after you for debt that isn’t even yours. It can also give you a good idea of what you need to do to start building your credit.

Suppose a collection attempt is made. In that situation, it will be easier to find errors in debt validation letters and dispute the record if you know your debts, their age, and status. A free way to check your credit history is by ordering a copy of your credit report from a credit reporting bureau. You’re entitled to a free report every 12 months.^[11]

Can Wakefield & Associates garnish my wages or sue me?

Yes, Wakefield & Associates can sue you for nonpayment. If it wins a judgment against you, it might be able to garnish your wages and bank account.^[13] State exemptions may protect some wages or property – such as money in a bank account – from garnishment.

However, the company cannot garnish your Social Security or Supplemental Security Income benefits, veterans benefits, military annuities, survivors benefits, federal student aid, federal disaster assistance, railroad retirement benefits, or any benefits from the Office of Personnel Management.

A debt collector cannot sue you if the statute of limitations for filing a lawsuit has passed, making your debt time-barred. The statute of limitations varies from state to state. It might reset if you make a payment on your collections account or acknowledge in writing that you’re responsible for the debt.^[7]

Understand your rights

There are laws on things debt collectors are not allowed to do, so it’s important to know your rights when dealing with debt collectors and collection calls.

First of all, they cannot harass you with repeated phone calls or abuse you with obscenities. They also cannot pretend to be attorneys or government officers, nor can they threaten to harm you or have you arrested. Also, they can’t publish or publicize your debts.

When it comes to collecting, they cannot claim that you owe an amount different from the actual amount owed. And the collector cannot try to collect additional interest and fees that were not in your original contract.

If a debt collector is not respecting your consumer rights, report them to your state’s attorney general, the Federal Trade Commission, and the Consumer Financial Protection Bureau (CFPB).^[7]

The bottom line

Suppose Wakefield & Associates contacts you about a debt. In that case, you should be aware that they're a legitimate third-party debt collection company that collects on several kinds of debt.

But even though it’s a legitimate company and not a scam, you still have consumer protection rights. You have the right not to be harassed or abused by collection calls. Also, you can request a debt validation letter, which helps you dispute the debt if you don’t think you owe it. You can write a goodwill deletion letter or try to negotiate a debt settlement, among other tactics.

Whatever course of action you choose, it is helpful to know where to start, what the process entails, and the realistic results you can expect from your efforts.

Sources

1. Wakefield & Associates. “Home,” https://www.wakeassoc.com.
2. PitchBook. “Wakefield & Associates Company Profile,” https://pitchbook.com/profiles/company/156406-51.
3. Better Business Bureau. “Wakefield & Associates,” https://www.bbb.org/us/tn/knoxville/profile/collections-agencies/wakefield-associates-1296-15591/addressId/714853.
4. Revco Solutions. “Revco + Wakefield Strategic Merger Announcement,” https://revcosolutions.com/revco-wakefield-strategic-merger-announcement/.
5. Bloomberg. “Wakefield & Associates Inc,” https://www.bloomberg.com/profile/company/1457736D:US.
6. Consumer Financial Protection Bureau. “What Information Does a Debt Collector Have to Give Me About the Debt?” https://www.consumerfinance.gov/ask-cfpb/what-information-does-a-debt-collector-have-to-give-me-about-the-debt-en-331/.
7. Consumer Financial Protection Bureau. Fair Debt Collection Practices Act Annual Report 2021, https://files.consumerfinance.gov/f/documents/cfpb_fdcpa_annual-report-congress_03-2021.pdf.
8. Prevent Loan Scams. “Remove Late Payments from Your Credit With a Goodwill Letter,” https://www.preventloanscams.org/goodwill-letter/.
9. Consumer Financial Protection Bureau. “If I Dispute a Debt That Is Being Collected, Can a Debt Collector Still Try to Collect the Debt from Me?” https://www.consumerfinance.gov/ask-cfpb/if-i-dispute-a-debt-that-is-being-collected-can-a-debt-collector-still-try-to-collect-the-debt-from-me-en-338/.
10. Federal Trade Commission. “Debt Collection FAQs,” https://consumer.ftc.gov/articles/debt-collection-faqs.
11. Experian. “How Do Credit Repair Companies Work?” https://www.experian.com/blogs/ask-experian/how-do-credit-repair-companies-work/.
12. Consumer Financial Protection Bureau. “How Do I Get a Free Copy of My Credit Reports?” https://www.consumerfinance.gov/ask-cfpb/how-do-i-get-a-free-copy-of-my-credit-reports-en-5/.
13. Consumer Financial Protection Bureau. “Can a Debt Collector Take or Garnish My Wages or Benefits?” https://www.consumerfinance.gov/ask-cfpb/can-a-debt-collector-take-or-garnish-my-wages-or-benefits-en-1439/.

About the author

Lauren Bringle is an Accredited Financial Counselor® with Self Financial – a financial technology company.

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