How to Resolve a Debt with Impact Receivables Management

Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

Summary: If Impact Receivables Management has communicated with you about a debt, SoloSuit can help you respond to the initial contact with a Debt Validation Letter, respond to a debt lawsuit, and settle your debt before going to court.

Got a call from Impact Receivables Management and thought it was your chance to become an actor because "you owe a debt to society?" Well, not quite, but you might owe them some cash.

Debt can feel like that annoying piece of spinach stuck between your teeth after a meal; you can't ignore it forever. And it can turn from annoying to downright intimidating if the matter escalates from debt collection calls to a lawsuit. If you’re now diving into the world of settling your debts with IRM, strap in! We’re about to make this as simple as possible.

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What is Impact Receivables Management?

Impact Receivables Management is a debt collection agency based in Stafford, TX that specializes in collecting rental debts. The agency works with rental properties to collect money from consumers who failed to pay their rent or otherwise failed to successfully complete the terms and conditions of their lease (i.e. fees or damages owed).

So, if you moved out of an apartment complex without paying all your dues, there is a chance that IRMt was assigned to collect the remaining balance on your account.

Impact Receivables Management is not accredited by the Better Business Bureau and has an F score on its site. In addition, the agency has a 1-star rating out of 5 stars and dozens of complaints submitted against it.

The role of Impact Receivables Management is to collect money for rental properties. Don’t forget that when communicating with them.

Make Impact Receivables Management validate a debt

Before taking any action, it's important to remain calm. Understanding the debt collection process will also help you make informed decisions. Before you take action, confirm that the debt is indeed yours. Check for discrepancies and ensure you're not being charged more than you owe. Finally, check the statute of limitations on the debt. After a certain period, it might be uncollectible through legal means.

In order to verify that the debt is actually legit and owed, you can send a Debt Validation Letter to IRMt. This forces debt collectors to provide the following information about a debt:

Proof that you owe the debt
The amount of the debt
The age of the debt
Impact Receivables Management’s debt collector license
Proof of ownership of the debt or right to collect on the debt in your state
A calculation of whether the statute of limitations has expired for collecting the debt
The last action taken on the account

If the collector cannot validate your debt, then they must stop contacting you about it. Here is the Impact Receivables Management phone number and other contact information:

Address: 11104 W Airport Blvd Suite #199, Stafford, TX 77477
Phone: 866-942-9516
Email: support@impactreceivablesmanagement.com

Finally, familiarize yourself with the Fair Debt Collection Practices Act (FDCPA), which outlines your rights and the legal practices of collection agencies. Read more here: What Debt Collectors Cannot Do — FDCPA Explained

Respond to an Impact Receivables Management lawsuit

If you’ve been sued by Impact Receivables Management, don’t delay; take action. Respond to your debt lawsuit before your state’s deadline. Here’s how:

Review the Summons and Complaint.
Draft an Answer document.
Respond to each claim against you.
Assert your affirmative defenses.
File the Answer before your state’s deadline.

Now, let us explain these steps a little more.

Most people who have been sued for debt lose their case automatically when they fail to respond in time. This leads to a default judgment, which gives creditors and debt collectors the right to garnish wages and seize property. Luckily, there is a simple way to prevent a default judgment: filing an Answer.

You should have received court documents notifying you of the lawsuit. These are typically known as the Summons and Complaint (Petition in some states). The Summons notifies you of the case and its details, while the Complaint lists the specific claims (or complaints) against you. It’s your responsibility to respond to these documents with a written Answer.

In your Answer, you should address each claim against you. You can admit, deny, or deny due to lack of knowledge (kind of like saying, “I don’t know”). Then, you should include your affirmative defenses. These are any legal reasons that you should not be held liable for the debt.

SoloSuit can help you draft and file an Answer to your debt lawsuit in all 50 states. All you have to do is create an account, respond to a series of questions about your case, and our software will generate a personalized Answer for your case.

Draft and file your debt Answer with SoloSuit.

Settle your debt with Impact Receivables Management

After you file an Answer to your lawsuit, you have given yourself time to negotiate a debt settlement.

In a debt settlement, you offer your creditor a portion of the total amount due, usually at least 60% of the debt’s value. In exchange for a lump-sum payment, the Impact Receivables Management agrees to drop any legal claims against you and release you from the remaining balance.

Once you've reached a settlement with IRMt, you should ask for a written agreement that outlines the terms you've agreed upon. Don't make any payments until you have this in hand. Finally, be sure to follow through on your end and make all payments as agreed upon. Late or missed payments can nullify your agreement.

As a part of your agreement, ensure the account is updated to show "paid" or "settled" on your credit report and that the balance is zero. Dispute any inaccuracies If your report hasn't been updated or if there are errors. You can do so by filing a dispute with the credit reporting agency.

To learn more about how to settle your debt, check out this video:

SoloSettle, powered by SoloSuit, is a tech-based approach to debt settlement. Our software helps you send and receive settlement offers until you reach an agreement with the collector. Once an agreement is reached, we’ll help you manage the settlement documentation and transfer your payment to the creditor or debt collector, helping you keep your financial information private and secure.

Avoiding future debt

Once you've resolved your debt with IRM, it’s important to take steps to avoid future financial challenges:

Create a budget and stick to it.
Build an emergency fund.
Regularly check your credit report for discrepancies.

If you're overwhelmed or unsure about the process, don't hesitate to reach out for help. Credit counseling agencies or debt settlement companies can provide guidance, though it's crucial to vet any company thoroughly to avoid scams.

Resolving a debt with Impact Receivables Management, or any collection agency, requires a blend of understanding, communication, and negotiation. Remember that your financial well-being is paramount, and SoloSuit is here to help you throughout the debt collection process.

What is SoloSuit?

SoloSuit makes it easy to fight debt collectors.

You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt.

SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.

>>Read the FastCompany article: Debt Lawsuits Are Complicated: This Website Makes Them Simpler To Navigate

>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)

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