HHRG Debt Settlement Guide
If you have debt with HHRG that you can't afford to pay, an IAPDA Certified Debt Professional can settle your debt for less than the full amount you owe.
Credit card companies and debt buyers hire debt collection agencies to recover past-due balances from debtors. They do this by sending letters and making phone calls to the debtor.
If they cannot resolve the debt, they may send it back to the original creditor or debt buyer that hired them, refer it to a law firm to consider a debt collection lawsuit, or sit on the account for future collection.
IAPDA is a non-profit organization that certifies debt professionals with extensive training, knowledge and experience. This ensures that you get the best possible advice about your situation. Read on for a guide to settling debt with HHRG, or click below to search the cert’ and find help with debt you can trust.
Take it Seriously
You may have debt to address if you're receiving calls and letters from HHRG. Even if it doesn't feel like you could deal with your debt, now is the time to create a plan.
Depending on your circumstances, you may:
- send a debt validation letter
- settle with the debt collection agency
- begin a debt settlement program
- negotiate a payment plan
- focus on a different account
Which strategy is best will depend on your unique situation. If you aren't sure it's the best approach, take your time to understand the debt settlement process first. You don't want to make a decision that leaves you worse off than before.
You can settle with HHRG and other debt collection agencies yourself, or an IAPDA Certified Debt Professional can create a debt settlement program for all of your debt.
HHRG Debt Settlement
To negotiate a settlement with HHRG, or other debt collectors, work with an IAPDA-certified debt settlement specialist. The IAPDA Certification means you're working with someone who knows what debt collectors can and can't do under the Fair Debt Collection Practices Act and the Fair Credit Reporting Act.
The Do's and Dont's of HHRG Debt Settlement
Whether it be an original creditor or a debt collection agency, settling debt will be very similar for unsecured debt like credit cards, medical bills, and personal loans. This approach is less effective for secured debts like houses and cars or those backed by state and federal agencies like student loans or utility bills.
Here are the do's and don't of debt settlement so you can settle your debt like a pro.
Make Sure They're Legit
Before you make a deal or pay any money, confirm you are speaking with a representative of a legitimate collection agency.
Scammers are savvy, and it's not uncommon for someone to make a call pretending to be a debt collector. A copy of your credit report and a convincing tone is all it takes. Solve this concern by being the one who makes a call to them. Consider looking to the Better Business Bureau to ensure any collection agency asking you for money is legit.
Do: Verify the person and company are legitimate and in business. Confirm contact information online and be the one to initiate the conversation so you know you called the right place.
Don't: Let a bad BBB rating convince you a debt collector is a scam. Investigate further to verify it isn't a scam, but F ratings with the BBB are common for collection agencies due to the nature of their business.
Know Your numbers
Having ownership of the conversation requires awareness. Expect the debt collector to have some information about you.
The best way to prepare for aggressive collection tactics is to be prepared and know your numbers.
Go into the call knowing how much:
- You owe on this account
- You owe other creditors
- You can afford to pay at once
- You can afford to pay each month
Knowing these numbers means you can't be pushed into an agreement you can't afford.
Do: Take your time to prepare and gather any information you need. Be prepared to set boundaries and keep control of the conversation.
Don't: Give a collector more information than they request. Anything you say will be used in an attempt to collect a debt. Be prepared, but also be reserved.
Talk on Your Terms
Debt collection agencies know the power of being in control of a conversation. When you answer a phone call, the caller has the advantage. They are prepared for the call while you're going about your day and living your life.
If you plan to negotiate with a debt collector, talk on your terms. Initiate the call when you are ready. This is your financial future at hand.
Do: Be the one to initiate communication.
Don't: Be pulled into a conversation with a debt collector when you aren't up for the call.
Strike a Deal with HHRG
Next up is negotiating the actual settlement. You can choose the method of communication-phone, letter, or online- but make sure to get any deal in writing.
During your call or in your letter, you can briefly share your original hardship-what led to the debt falling behind-and your current hardship-why you can't pay in full today. Many collectors may take a firm stance and demand payment in full, offer a payment plan at this point, or they may offer a settlement.
If your goal is to settle the debt, that's where you steer the conversation.
You already know your numbers. You know what you can offer and what you can afford. After presenting your hardship, stick to those numbers and you'll know you are making a confident arrangement.
If you can't strike a deal yet, that's okay!
Saying no when a settlement arrangement doesn't fit your budget is hard. You want that debt gone! But putting yourself in a place where you can't make payments and default again only creates more trouble.
Do: Negotiate until you get the deal you want.
Don't: Make a payment until you have a written agreement that outlines the offer and terms of the settlement.
Note: During the call, expect to hear disclosures about your credit report and state and federal laws, they can sound intimidating or scary, but this is often a sign that who you are speaking with is legit.
Pay the Settlement to HHRG
Once you have a deal in writing, it's time to make the payment.
Most collection agencies will urge a phone pay right when you're making the arrangement. Avoid this, at least until you have your offer in writing. It should include the amount you owe, how much you've agreed to settle, a due date, and information regarding yourself and the account you are resolving. If any of that is different from what you would expect, request a new letter.
Most agencies will accept payment over the phone, check by mail, or through an online portal. It's crucial that you make payments exactly as agreed in the letter. Any deviation could lead to a default and ruin the settlement arrangement.
Do: Review all payment instructions in the settlement agreement. Pay exactly as agreed and keep documentation of this payment.
Don't: Make a payment without a written settlement agreement or pay a different amount or way than agreed.
Debt Settlement FAQ
Does a debt settlement program stop HHRG from calling?
Most likely, yes. Every debt settlement company may take a different approach. Ask your settlement company if and when they will notify your collectors and creditors to direct calls to their office.
Do all debt settlement companies settle with HHRG?
Every company may have unique relationships with debt collectors. You can count on an IAPDA-certified company to be transparent about what their debt settlement company achieves when negotiating with HHRG.
Will settling the debt remove the account from my credit report?
Debt settled for less than what is owed is reported as "Settled in Full," "Paid for less than the full balance," or similar language. It stays on your credit report for seven years from the original default.
What are the risks of not paying HHRG?
Everyone has different risks based on their state and situation, but ignoring debt can lead to a debt buyer lawsuit, default judgment, bank account levy, wage garnishment, and more.
Should I hire a debt settlement company?
A reliable debt settlement company can be valuable when you have complex situations, multiple debts, or you can't afford a settlement right now.
Your Path to Financial Recovery Starts Here
Discuss your debt relief options with a trusted IAPDA Member Company.
