If a collection account shows up on your credit report from a company called Waypoint Resource Group, or you receive a phone call or a letter from them, you’ll need to deal with it – quickly.
Whether you decide to deal with Waypoint Resource Group yourself – or get professional help – will be the only real question.
In this article, we’re going to provide several strategies for dealing with Waypoint Resource Group on your own. None are guaranteed to work, but all are worth trying.
But if you feel for any reason you’re unable to go through with the process, or Waypoint Resource Group proves to be uncooperative, we strongly recommend getting professional help.
It is possible to successfully deal with Waypoint Resource Group – or any other collection agency – but it’s far from easy.
Collection situations are confrontational by their very nature, and most consumers are not prepared for the level of conflict, or the many variables.
But here’s what we recommend…
Is Waypoint Resource Group Legit?
Waypoint Resource Group was founded in 2012 and is based in Round Rock, Texas.
It’s another collection agency that refers to itself more generally as accounts receivable management.
And according to the company website, it’s an active collection agency at that.
They claim to initiate 14 million outgoing phone calls each year, which would make them one of the more active collection agencies in the industry.
Waypoint Resource Group specializes in automotive, healthcare, energy and utilities, and cable, satellite, and telecom companies.
That’s a wide range of client organizations, making it highly likely you’ll hear from this company if you have any collection accounts at all.
Waypoint Resource Group has a Better Business Bureau rating of “B” on a scale running from A+ to F.
The company is not BBB accredited and has had 226 complaints filed against it through the agency in the past three years.
But at least based on the information available through the BBB, Waypoint Resource Group is a legitimate collection agency.
How to Deal with Waypoint Resource Group
Waypoint Resource Group works with a large cross-section of business entities, so they may be approaching you past-due for balances of various sizes, depending on the type of original creditor.
For example, healthcare and automotive debts are often particularly large, while utility and communication bills are on the smaller side.
As a general rule, if the dollar amount of the debt is on the small side, like $100 or less, it may be best to simply pay the debt and move on.
That’s because dealing with collection agencies is both stressful and time-consuming.
You should save any collection challenges for larger debts, particularly if you don’t have the money to pay.
The company does claim to pursue the collection process within legal restrictions, but that doesn’t mean they’ll be cooperative.
The entire purpose of the collection agency is to get you to pay a debt.
That means the whole process will have more than a slight chance of becoming confrontational at some point.
Do your best to be friendly and reasonably cooperative, but you should do so only to help bring about a more favorable resolution for you, not the agency.
As you deal with Waypoint Resource Group, keep the following general rules in mind throughout the process:
1. Phone conversations are great for the collection agency – but not for you
If you allow it to happen, the collection agency will contact you by phone every chance they get.
If you’ve already dealt with a collection agency in the past, you probably already know this.
The phone conversations can vary anywhere between constructive and harassing.
But even if the phone calls seem constructive on the surface, there’s a darker agenda.
Collection agencies are well aware that the average consumer will say just about anything – including making promises to make payments – to get the agent to go away, for even a few days.
The problem is that collection agencies routinely record phone conversations with you.
They may even use some soft language like “this phone conversation will be recorded for training purposes”, but the real reason is potential legal action.
Recorded conversations can be used as evidence against you and a lawsuit.
For that reason alone, phone conversations with collection agencies are best avoided entirely.
And if you do have a conversation, your purpose is gathering information – not providing it.
2. All contact should be in writing
Instead of phone conversations, insist all communications with Waypoint Resource Group be handled in writing.
You have a legal right to make this request, and you absolutely should.
Written correspondence limits the possibility of the type of rambling conversations that happen with phone calls.
In a letter, you can strictly control what you say and how much information you reveal.
It will also provide you with a written track record of all communications with Waypoint Resource Group.
That may become important if the company decides to bring a lawsuit against you.
Be sure that any correspondence you send to the company is sent by certified mail, return receipt requested.
When the return receipt comes back, staple it to the copy of the letter it represents. That will prove you sent each letter, as well as provide evidence of receipt and the date.
3. Never promise to make a payment unless you’re willing and able to do it
If there were a list of the 10 Commandments of dealing with collection agencies, this one would be at the top of the list.
A promise to make a payment, whether by phone or in writing, can be legally enforceable.
If you make the promise and don’t follow through, Waypoint Resource Group could escalate the collection account to a judgment.
4. Familiarize yourself with your rights under federal law
The Fair Debt Collection Practices Act (FDCPA) provides consumers with certain protections from collection agency abuses.
You can learn these protections by reading the Debt Collection FAQs provided by the Federal Trade Commission (FTC).
Just knowing your rights under federal law may give you the upper hand when a collection agency starts getting ugly.
If all of this seems like too much for you to handle on your own,
we recommend seeking help from a professional credit repair service.
Specific Strategies for Dealing with Waypoint Resource Group
Demand a Debt Validation Letter
Collection agencies are required by law to provide you with validation of the debt they claim you owe.
This can be done through a debt validation letter, and you should insist Waypoint Resource Group provide you with one.
If they are unable to provide the letter, or it comes back incomplete, you’ll have a basis to dispute the legitimacy of their claim.
The debt validation letter must include all relevant information surrounding the debt, as well as provide evidence you’re the responsible party.
That will include the name of the original creditor, the date it went into collection, the amount of the debt, and information connecting you with the obligation.
It’s entirely possible Waypoint Resource Group is attempting to collect a debt that has already been paid, or it’s a case of mistaken identity.
You’ll need the debt validation letter to prove either point.
Request a Goodwill Deletion
If the debt validation letter proves the collection is legitimate, you may be able to request what’s known as a goodwill deletion.
You’ll do this by sending Waypoint Resource Group a goodwill letter.
In the letter, you’ll acknowledge responsibility for the debt, but you’ll be making a plea to have the collection account deleted from your credit reports.
For a goodwill deletion request to be effective, the debt will need to be paid in full.
You’ll also need to provide a convincing explanation that the debt occurred due to circumstances beyond your control. That can’t include a major illness, a divorce, or the death of a loved one.
Since the debt will have been paid, the collection agency may agree to delete the collection account as a goodwill gesture.
This kind of request is hardly guaranteed to work, but it’s worth requesting under the right circumstances.
Offer a “Pay-for-Delete” Agreement
This is a more advanced strategy when dealing with collection agencies, and like goodwill deletion requests, there’s a better than even chance it won’t work.
Pay-for-delete is where you ask the collection agency to delete the collection entries on your credit reports in exchange for full payment of the debt.
The collection agency may agree to the arrangement as a way of receiving full payment.
You’ll send what’s known as a pay-for-delete letter, asking if they will delete the collection account from your credit reports in exchange for full payment of the debt.
In theory at least, this seems like a win-win arrangement. Waypoint Resource Group gets the full payment they seek, and you have the collection account removed from your credit report.
But beware! Pay-for-delete is not a legally enforceable arrangement, even if it is agreed to in writing.
In fact, the company can agree to the deletion, accept full payment from you, then fail to remove the entry from your credit reports.
And if that happens, you’ll have absolutely no legal recourse.
Unfortunately, in the relationship between the credit bureaus and creditors and collection agencies, full payment of a past-due debt does not translate into removing the negative entry from your credit report.
Creditors are only required to report the payment of the debt, but they’re not supposed to remove the collection entry.
Still, a small percentage of collection agencies may agree to a pay-for-delete arrangement, so it may be worth trying.
Demand Deletion of the Account if Waypoint Resource Group Can’t Verify the Debt
What if Waypoint Resource Group either provides an incomplete debt validation letter, or none at all?
This may represent your best opportunity to both cancel the debt and have the negative information removed from your credit reports.
That’s because Waypoint Resource Group will be required to do both if the debt can’t be fully validated.
And even if Waypoint Resource Group refuses to cooperate, you can open a dispute with all three credit bureaus, Experian, Equifax, and TransUnion.
They’ll have 30 days to investigate your dispute, and if Waypoint Resource Group is unable to fully validate the debt, the credit bureaus will remove the collection account from your reports.
But even if this turns out to be the case, Waypoint Resource Group may not necessarily halt collection efforts.
They may continue to pursue you for collection of the debt, and there’s even a possibility they’ll restore the collection account to your credit reports at a later date.
They may even transfer the debt to a different collection agency, which will set you back to square one.
That’s why dealing with collection agencies directly is such a difficult process and why it’s usually better to turn the job over to professionals.
Settle the Debt for Less than the Full Amount Owed
Settling a collection account for less than the full amount is probably the most common way to deal with collection agencies.
Naturally, the collection agency wants to be paid, and they’re often willing to accept less than the full amount owed if that will bring an immediate payment.
Exactly how much the collection agency will discount the debt will depend on the type of account it is, the amount, and how long the debt has been outstanding.
For example, student loan debts may be more difficult to discount.
And with a collection account that’s more recent, like a few months old, the collection agency may attempt full or near full payment.
But on most other debts, and especially older ones, a settlement is usually possible.
You’ll start the process by making a lowball offer. That may mean offering a few hundred dollars to settle a debt with an original balance of more than $1,000.
The process of offers and counter-offers will follow, and you’ll settle somewhere in the middle.
Whatever the dollar amount agreed to, send no money until they confirm the terms of your settlement in writing.
If they don’t send a written confirmation, they may accept your partial payment, then pursue you for the balance.
Get Professional Help
If you’ve read this far, it’s likely you understand how complicated dealing with collection agencies really is.
That’s why we’ve saved what may be the most important recommendation for last, and that’s to get professional help.
Not everyone is qualified to deal with collection agencies, and there’s absolutely nothing wrong with getting help in the process.
A good credit repair company is a better option. They’ll work directly with them to not only get the debt settled, but to have it removed from your credit.
But if Waypoint Resource Group threatens you with legal action, you may need to hire a credit attorney.
Lexington Law specializes in credit law and may keep the case from ever making it to court.