Helle Rätsep sündis 9. oktoobril 1941 Tallinnas. 1944. a. siirdus lesestunud ema koos tütrega Virumaale Varudi külla.
Helle Rätsepa mitmekülgsus kujunes välja juba kooliaastail: laialdane lugemishuvi, tegelemine fotograafiaga, margikogumine, edukus mitmel spordialal. Ka kiindumus loomadesse ilmnes lapseeas, kui koera ja kassi kõrval oli mänguseltsiliseks orbunud kitsetall.
Asunud 1960. aastal Tartu ülikoolis õigusteadust õppima, alustas Helle Rätsep kohe treeninguid Tartu ratsabaasis. Samuti hakkas ta sel ajal tegema kaastööd ajakirjandusele. Paarikümne aasta jooksul avaldatud rohkem kui 50 artiklit kajastavad valdavalt ratsasporti, mitmed tutvustavad põhjalikult tema autogrammikogu.
Kollektsioneerimine sai alguse juhuslikust kihlveost hankimaks autogrammi 3. detsembril 1960 Tallinnas kontserdireisil viibinud peruu lauljatarilt Yma Sumacilt. Järgnevatel aastakümnetel kogus Helle Rätsep rikkaliku kollektsiooni oma kaasaegsete sportlaste, poliitikute, kultuuritegelaste, teadlaste, kosmonautide ja lendurite ning teiste elualade silmapaistvate esindajate autogrammidega fotosid, kirju ja lisamaterjali — ajalehelõigendeid, raamatuid, eksliibriseid jm. Oma huviala tutvustamisega nii trükisõnas, raadios, televisioonis kui ka kohtumisõhtutel vallandas ta Eestis seniolematu autogrammibuumi, mis haaras kaasa elanikkonna kõiki kihte ja vanuseastmeid. Ilmekaks tõendiks selle kohta on kolm mahukat mapitäit asjahuviliste poolt vastukajana saadetud kirju.
Energiline pühendumine uuele huvialale sai talle peatselt saatuslikuks. 4. jaanuaril 1964 eksmatrikuleeriti Helle Rätsep ülikoolist halva õppeedukuse tõttu, väidetavalt oli aga tegelikuks põhjuseks avalik sümpaatia 1963. aastal hukkunud Ameerika Ühendriikide presidendi John Kennedy vastu, tema fotode paljundamine ja levitamine.
Pärast eksmatrikuleerimist asus Helle Rätsep tööle Tartu Näidissovhoosis, kus juba samal aastal korraldati tema eestvedamisel esimesed ratsaspordivõistlused “Kureküla Kapa” auhinnale. Katsed jätkata õpinguid kaugõppe teel luhtusid ja nii pühendas ta kogu oma energia lemmikharrastustele: autogrammide kogumisele ja ratsaspordile. 1976. aasta maikuust alates töötas Helle Rätsep ratsasporditreenerina Väike-Maarja kolhoosis.
Asjatundliku ja osava kirjutajana oli Helle Rätsep 1981. aastal ilmunud mahuka käsitluse “Ratsutamine. Minevikust tänapäevani” üks autoreid. Raamatu illustreerimiseks on kasutatud fotosid ka tema autogrammikogust. Viimaseks kirjatööks jäi 1988. aastal ilmunud omakirjastuslik brošüür “Väike-Maarja kolhoosi ratsaspordi arendamist takistanud asjaoludest”. See annab masendava pildi leppimatust võitlusest halbade töötingimuste, ebakvaliteetsete loomasöötade ja ratsaspordi pärast üldse ning heidab valgust põhjustele, miks Helle Rätsep läks 3. aprillil 1988. aastal vabasurma, võttes kaasa oma parimad sõbrad — kaheksa hoolealust hobust.

Helle Rätsep was born in Tallinn October 9, 1941. In the spring of 1944 her widowed mother together with Helle moved to Virumaa District in North-Eastern Estonia.
Helle Rätsep’s wide range of interests was formed in her school-years. She read a lot, took up photography, collected stamps for nearly ten years. She was also a many-sided and successful sports-woman, winning the title of the champion of Rakvere District in track-and-field athletics and diplomas in chess, volley-ball, and other sports. Her affection towards animals was revealed in her childhood when besides a dog and a cat an orphaned kid was her playmate.
When she came to Tartu in 1960 to study law at Tartu University she immediately started training at Tartu riding centre. As a student Helle Rätsep began contributing to the press. The subject of her articles was usually equestrian sports, but many of them were about her autograph collection too.
Her autograph collecting began with an occasional bet on December 3, 1960 to get an autograph from the Peruvian singer Yma Sumac, who was on a concert tour in Tallinn. During the following decades she gathered a rich collection which is now held in Tartu University Library according to her wish. This collection of 1344 items contains photographs with autographs and letters of her contemporary sportsmen, politicians, writers, artists, musicians, theatre and cinema celebrities, scientists, astronauts, pilots, and outstanding representatives of other fields as well as additional material  such as newspaper clippings, books, bookplates, etc. presenting various information about them. Introducing her hobby to wider audience in publications, over the radio and TV, and also at club meetings, she was the initiator of the widespread collecting of autographs, which affected all generations and social classes in Estonia. Three thick files full of letters she has received from persons interested in this hobby, give sufficient proof to the fact.
Helle Rätsep’s enthusiasm in her new hobby was soon to deter-mine her fate. She made good progress in her studies and participated actively in extra-curricular activities until she was exmatriculated on January 4, 1964. The reason given for that was her slow progress, but the real reason seemed to be her open sympathy for the president of the United States John Kennedy, who was assassinated in 1963, the reproducing and spreading of his photographs.
After her exmatriculation Helle Rätsep started working at Tartu Model State Farm and already in the same year the first Kureküla Piggin Prize equestrian competitions were held on her initiative. Her attempts to continue her studies at Tartu University by correspondence failed and so she devoted herself completely to her hobbies — autograph collecting and equestrian sports. Since May 1976 Helle Rätsep worked as an equestrian sports coach on Väike-Maarja collective Farm.
As a competent and skilful writer she was one of the authors of the comprehensive work “Riding. From the Past to the Present” which appeared in 1981 (in Estonian). To illustrate the book, also the photographs from her own autograph collection were used. Her last writing, a self-published booklet “About the Factors Hindering the Development of Equestrian Sports on Väike-Maarja Collective Farm” appeared in 1988 (in Estonian). It gives a depressing account of her fight against bad working conditions and low-quality feeds and for the existence of equestrian sports in general and casts some light on the reasons why she committed suicide on April 3, 1988, killing also her best friends — the eight horses she had been taking care of.