Do you hate getting pestered with calls and letters? More so if it’s a collection company called IC System for sure. If the name IC System is shown in your credit report, you probably have a bill that exceeded the due date, or it may simply be an error. If this happens, it should never be ignored.
Before reading the information below that talks about the information that you will need to know before communicating with them, ask yourself these three questions first: “Do I owe this?”, “Was it placed on my report by mistake?” and lastly, “Does the information in the report match my records?”
What is IC System?
IC System, Inc. is a third-party agency that collects debt legitimately. It attempts to improve financial outcomes for their customers and original creditors. The agency was founded in St. Paul, Minnesota, back in 1938.
Additionally, Better Business Bureau gave IC System a rating of “A+”; this is the highest rating in agency issues. As such, it is indeed one of the most established collection agencies. So if this company contacts you, you know you are dealing with a beast. Contact a professional to help you deal with IC System like https://www.crediful.com/collection-agencies/ic-system/.
Who do they Collect For?
IC System offers a service to almost every company to collect the unpaid debts owed to them. If you want to know who their most clients are, you can check their website as there’s a list provided. They offer services to small businesses, governments, rental agencies, education, dentists, law firms, medical practices, pest control, etc.
These companies compensate IC System for assisting in recovering the money. The agency becomes aggressive when contacting individuals because if the debt is not recovered, they won’t get their fee.
How can I remove IC System from my Credit Report?
If the company has been contacting you once or twice, you have to be proactive; ignoring the company will only result in more significant problems. The original creditor can secure a judgment against you if you have failed to cooperate. It would take the debt to a higher level since a negotiation for the payment will be removed. As a result, you have to pay the debt in full.
When the judgment has been approved, a collection agency is granted the ability to garnish your wages or bank account to recover your debt. Note that most of these cases don’t become judgments; however, if you have a large balance in your debt, IC System can pursue a judgment. You can avoid this uncomfortable situation if you take action before it can happen.
Here are four steps you can do when dealing with IC System:
1. Do Your Research
The first step is to comprehend the different federal laws that can protect your rights, as the Fair Debt Collection Practices Act. You must familiarize yourself with your rights to fully exercise them when dealing with the agency or other debt collectors. Note that a creditor cannot harass, threaten, use false information when dealing with debt collection.
Next, you must have a copy of your credit report. Look for IC System and compare it to your other documents; check if what IC System is indeed a previous obligation you have from a legal creditor.
2. Ask for Proof
A collection agency can only ask for a payment if the debt is indeed legitimate. You must not skip this step. You must determine if the collection that tarnished your credit report is indeed honest. A way of doing this is by requiring the company of proof. The company has to disclose every detail of the debt, including the original creditor and dates.
Remember to communicate with them through writing. Agencies like this are notorious for making promises verbally and not following them. If communication were made through writing, you would have proof. Additionally, do not make promises through call since they record your conversations.
3. What to do if the IC System got the wrong person?
After you have proven the debt isn’t yours, you are not legally required to pay for the debt that isn’t your responsibility. Your case isn’t new; collection agencies are famous for getting people mixed up.
You can contact companies like Crediful to remove an alarming report from your credit profile. You must do this immediately since a collection can leave a mark in your credit profile for seven years.
4. What to do if the Debt is Indeed Yours
You can pay the debt in full and go on with your life – worry-free, or you can negotiate the price of your debt. If a collection agency agreed that you’d pay less than the total balance, make sure to get IC System confirmation in writing. But above all else, ensure that IC System will delete the collection account from your credit report.
Dealing with this for the first time can seem frightening as you wouldn’t want to make a wrong move and cause a negative result to show in your credit report for years. With the information stated above, you can deal with IC System. Always remember your rights!