Who Is Wakefield and Associates and How to Deal with Them?
You may be wondering why you are getting calls from Wakefield & Associates or why you see CEP America LLC on credit report. Or you may be wondering, what is Wakefield and Associates?
If so, we will go over who they are and the steps you can take to protect yourself and your credit score. To learn more when you want to make a payment search for the term “wakefieldpaymentsolutions.”
The calls, which may reach the level of harassment, are probably the result of an old debt that bears your name, rightfully or wrongfully.
Whether the debt belongs to you or not, the goal when any third-party collection agency pursues you is to resolve the issue and get the collection off your credit report as soon as possible.
You may also be wondering, who does Wakefield and Associates collect for? Usually a creditor passes on the collection to a third-party debt collector like Wakefield payment solutions.
Is Wakefield and Associates Legitimate?
Yes, they are a real third-party collection agency with an A- rating, and accreditation with the Better Business Bureau (BBB). They have their headquarters in Aurora, Colorado.
They also have other locations spread across the United States, including:
- Fort Morgan, CO
- Pueblo, CO
- Jefferson Cty, MO
- Knoxville, TN
- Eatontown, NJ
- Rock Springs, WY
- Kingsport, TN
Wakefield Associates are a medium-sized corporation with 425 employees and a revenue of $89 million.
- 10800 E Bethany Dr. Ste 450
Aurora, CO 80014-2697
- Wakefield and Associates phone number: (866) 623-2069
What to Do When Wakefield and Associates Collections Comes After You
Naturally, nobody wants to find themselves in a debt collection situation. If it happens anyway, go through the steps below.
Learn How Federal Law Protects You
You can report debt collectors that break the law to the FTC. The FTC enforces the Fair Debt Collection Practices Act (FDCPA).
The FDCPA makes it illegal for debt collectors to use abusive, unfair, or deceptive tactics in the process of debt collection.
Here is a brief guide to help understand the law.
If you think a debt collector went too far and broke the law, take the proper steps to file a report.
Requesting a Debt Verification Letter vs. a 609 Dispute Letter
These are two methods to confirm that the debt belongs to you. The steps involved differ slightly, but they produce essentially the same result.
Another reason to take this step is that you should never make any verbal agreements in the debt collection process.
If you ever end up in court or need to back up a claim in any other way, you will need a paper trail that proves everything.
Requesting a Letter of Debt Verification
In this method, the collection agency has had a strike put on your credit report and contacted you to collect on bad debt, and you deal directly with them.
First, get free copies of your credit reports from all three major companies.
Next, when you talk to Wakefield collections, try to give them as little information as possible and gain as much knowledge as possible by asking questions.
Last, request a letter of debt validation from Wakefield and Associates debt collector. Getting the letter is non-negotiable. If they try to talk you out of it, stand firm until they agree.
They have to agree because the law requires that they provide the amount of debt along with dates, the original creditor, and any other pertinent information.
Once you have the letter, your credit reports, and your records, compare all three and determine if the debt belongs to you.
Sometimes debt erroneously gets pinned on the wrong person through error or outright fraud, and the responsibility to clean up the problem gets passed to you.
At the same time, there may be no mistake, and it is your debt. Either way, you need the paper trail.
Furthermore, if Wakefield and Associates cannot provide the letter, they must cancel the collection and get your credit report fixed. So, they may be hoping you never ask.
Requesting a 609 Dispute Letter
This process is more straightforward than the one above and exists for slightly different purposes.
Sometimes people review their credit report and find something unexpected. If this happens, a person can send a 609 letter to a credit reporting agency. Under the FDCPA, the agency has to initiate an investigation by contacting the creditor for validation.
The hope with this method is that the creditor cannot provide the information that proves who owns the debt, such as documents with signatures.
Dealing with Wakefield and Associates and a credit agency may prove too much to handle.
We recommend you try a debt verification letter first, as that forces Wakefield and Associates to do the work and send the letter to you.
There is no set procedure for drafting a 609 letter, but examples exist online that show how to do it.
How to Proceed if the Debt Belongs to You
If the debt is yours, the best thing to do is work with Wakefield and Associates payment department and try to negotiate a settlement called Pay-for-Delete.
This option means you pay your debt, and, in exchange, Wakefield and Associates Payment Solutions gets the debt deleted from your credit report.
Wakefield and Associates Pay for Delete is also an opportunity to press for paying less than you owe. We recommend starting very low, about 15-20%, as this will cause pushback, and their counteroffer will be a higher amount.
Depending on how desperately Wakefield and Associates want to clear the account, they may accept a lower payment.
Do not send money until you have everything in writing that you negotiated. Always maintain a paper trail that allows you to prove what happened.
Monitor your credit report after the first payment and see if Wakefield and Associates have held up their end of the bargain after about thirty days.
When to Seek Professional Help
In some cases, Wakefield and Associates will refuse to negotiate a settlement and demand full payment while making legal threats.
If the conversation takes an ugly turn, it may be time to find a credit repair company.
A professional will take over the process for you, and Wakefield and Associates will likely become more willing to negotiate a settlement once they meet experienced resistance.
The Wrap Up
The last thing a debt collector wants is to find themselves on the phone with a person who knows their rights under federal law and is difficult to push around.
Use this leverage to identify the debt and negotiate a settlement, if necessary. If nothing goes according to plan, get help from a credit professional.