How to Remove MRS Associates from Your Credit Report
MRS Associates Inc. is a company that specializes in accounts receivable tasks, including debt collection. It originated in 1991 and has its headquarters in Cherry Hill, New Jersey. If you’ve received phone calls or letters from MRS Associates regarding a collection account, there are effective strategies you can use to remove it from your credit report.
Steps to remove MRS Associates from your credit report
- Avoid communicating over the phone
- Request debt validation
- Negotiate a settlement
Avoid communicating over the phone
You have consumer rights under the Fair Debt Collection Practices Act (FDCPA). If MRS Associates is harassing you or you have an issue you want to resolve, your first step is to send the company a letter clearly explaining your situation and letting them know that you’re aware of your rights. The letter needs to formally request that all communication with the company is in writing only. This means no emails or phone calls, and it’ll create a paper trail that helps to reduce the risk of any misunderstandings.
It's advisable not to use other methods of communication. For example, if a representative from MRS makes an agreement with you over the phone and then reneges, you won't have any way to prove the details of the deal. The FDCPA protects you from unfair debt collection practices, and sending this letter is the first step when dealing with a company such as MRS Associates.
Request debt validation
Many debt collectors make money by buying debt, usually for way less than it's worth, and then collecting it from the consumer. This is why collection agencies are so relentless; they need to collect to make money. To stop the debt collector hassles and headaches, you can send a letter within 30 days of receiving your first communication from the company, which is the initial request for debt repayment. This letter asks the debt collection agency to prove the debt it’s trying to collect is yours and that it has the authorization to collect it.
It’s advisable to send the letter via certified mail so that you receive proof when MRS Associates receives it. The company must provide you with documentation to validate the debt, and sometimes companies that purchase debt don't have the paperwork necessary to do this.
When the MRS Associates responds, read through the documentation carefully to look for any inaccuracies. Notify the company in writing immediately if anything is incorrect. A lack of sufficient proof will force the company to wipe the negative entry off your credit report and stop bothering you.
Negotiate a settlement
If MRS Associates validates the debt, it's time to haggle. This means asking to pay a lower amount in return for the removal of the negative entry from your credit report. Remember to correspond only via snail mail. You can start with an optimistic figure, such as 50% of the debt amount, although it’s sometimes possible to settle a debt for as little as 10% of the original amount.
If the company agrees to remove the negative entry from your credit report if you pay the negotiated amount, it’ll solve your problem with MRS Associates. Make the payment and then check your credit report after 30 days to make sure that the collection entry no longer appears. If it does, write a letter demanding that MRS Associates fulfills its end of the deal.
MRS Associates contact information
1930 Olney Avenue
Cherry Hill, NJ 08003-2016
Do you need help from a professional?
If you want to save yourself the stress and get a professional to handle the process, consider contacting Lexington Law. This company will take care of you, and probably get results a lot quicker than you can on your own. Check out its website.
Update: This article has been updated to reflect the current contact information for MRS.
Disclaimer: This story was originally published on October 13, 2017, on BetterCreditBlog.org. To find the most relevant information concerning collections or credit card inquiries, please visit: https://money.com/how-to-remove-collections-from-credit-report/ or https://money.com/get-items-removed-from-credit-report/