How to Remove MRS Associates From Your Credit Report
What is MRS Associates? MRS Associates Inc. is a company that specializes in accounts receivable tasks, including debt collection.
This company went into business in 1991. Its headquarters are situated in Cherry Hill, New Jersey.
If you’ve received a letter from this company, or a phone call (or perhaps a lot of annoying phone calls!), you should know that there are some practical and effective ways to remove MRS Associates from your credit report.
Now, let’s get into the best way to start moving forward…
Steps To Remove MRS Associates From Your Credit Report
- Avoid Communicating Over The Phone
- Demand Validation of Your Debt
Avoid Dealing Over the Phone
Under the stipulations which are outlined in the FDCPA (Fair Debt Collection Practices Act, you do have a lot of rights as a consumer.
If you feel harassed by MRS Associates, or simply want to get issues with this collection company resolved, your best line of defense is to send a clear and simple letter to the company.
Mail it out the old-fashioned way. In your letter, you should let the company know that you do know your rights under the FDCPA.
As well, you should formally request that all communications with this accounts receivable company be conducted via letter mail.
This means no e-mail and no phone calls. A paper trail will be incredibly helpful. It will eliminate the risk of misunderstandings.
Other types of communication are not as safe for you. For example, if a representative from MRS agrees to certain things on the phone and then reneges, you won’t have a way to prove that you were promised something.
With letters that are printed and mailed to you, you will always have proof.
Debt collectors need to treat you a certain way or they violate FDCPA guidelines. So, type up your letter and send it in right away. It’s the smartest way to ensure that you are protected.
Demand Validation of Your Debt
Many debt collectors make money by buying debt (usually, for way less than it’s worth!) and then collecting the debt. They buy low, collect more than they paid, and then turn a tidy profit.
This is why collection agencies are so relentless. They need to collect in order to make money.
To stop the debt collector hassles and headaches, you may send another letter, within 30 days of receiving your first communication from the company (which was a request for debt repayment).
Your second letter will be a request that they prove the debt they are trying to collect on is actually yours and they have documentation of it.
I recommend using certified mail once your request for validation of your debt is typed up and ready to go. When you do choose certified mail, you’ll have proof that the letter was received.
The collection services industry tends to bend the rules sometimes and you need backup. Certified mail is a good backup.
The company will need to offer you proof that the debt is valid. Sometimes, companies that purchase debt don’t have all of the paperwork that they need.
When the MRS Associate responds, look over the documentation that is provided. Look for problems.
See if anything is incorrect or missing. If there are issues, write a letter and let the company know what they are.
Inaccuracies or lack of sufficient proof will force the company to stop bothering you…and to wipe your negative entry off of your credit report.
If the company does prove the debt, it’s time to haggle! This means asking to pay a lower amount of the debt, in return for MRS’ agreement to wipe the negative entry from your credit report.
Get a Free Copy of Your Credit Report
Enter the Negotiation Phase
Accounts that are valid necessitate negotiation between you and MRS Associates. Start with a low-ball figure, such as fifty percent of the amount owed.
Remember that all negotiation needs to go through snail mail! Some people are able to settle their debts for as low as ten percent of the total amount.
However, asking for half of the debt to be forgiven is usually fair.
If the company agrees to your demand (to remove the negative entry from your credit report) once you pay the agreed amount, your problems with MCS will soon be a thing of the past.
Just write the company a check and then get in touch thirty days later (by letter) to make sure that the collection entry was removed from your credit report.
If it wasn’t, write a letter demanding that the company fulfill its end of the negotiated agreement.
Do You Need Help With This?
Lastly, if you’re the type of person who would rather have a professional handle it and just be done with the whole thing, I suggest you check out Lexington Law.
They’ll take care of you, and honestly, they usually get stuff removed a lot quicker. Check out their website.
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