Having to deal with debt collection agencies can be stressful. For example, you have to deal with one of the debt collection agencies called MRS Associates. If they are collecting from you, it is important for you to understand your rights and take the appropriate steps so that the situation can be managed properly. So, what to do if MRS Associates is collecting from you?
Overview of MRS Associates
MRS Associates is known as the name of a debt collection agency. It makes it to the list of the largest third-party debt collectors in the United States. Not only known as MRS Associates, it is also known as MRS Innovative Solutions and MRS BPO, LLC. The company was founded by two brothers Saul Freedman and Jeff Freedman in 1991. It is based in New Jersey, United States.
Apparently, MRS Associates is a member of a trade group that represents collection agencies called ACA International. The main mission of the company is to achieve success and to give the positive reputation of the credit and collection industry through a few things such as services, education, and advocacy.
Just like any other debt collection agencies, MRS Associates collects for a lot of different industries, including education, healthcare, technology, retail, auto, financial services, commercial, e-commerce, utilities, telecommunications, parking, tolls, and fines. They are hired by the companies from these industries to follow up on overdue debt. These companies will then give the agency percentage if they manage to collect the money from their consumers. Sometimes, they also purchase the debts from these original lenders called clients or creditors who have failed to collect at a discounted rate in order to get payments and earn profit.
Things to Do If MRS Associates is Collecting from You
If MRS Associates is collecting from you and you have no idea what to do, check out the followings:
1. Validate and verify the debt
Upon getting contacted by MRS Associates, you should validate the debt. You are given 30 days to do it. In order to do it, you can ask them to provide you with necessary verification or debt validation.
The debt collection agencies like MRS Associates cannot just contact you without prior notice. This notice should be sent 5 days before they contact you, as per the new regulations released on November 30, 2021. It is a must for the notice to include the followings:
- An itemization date can be the date of the last statement or invoice, the charge-off date, the date of the last payment applied to the debt, the date of the transaction that gave rise to the debt, or the judgement date (in case this is a court judgement on the debt). You can also find out about the statute limitation of the date from this information.
- Extensive information about the debt usually includes the name and mailing address of the debt collector, the full name and mailing address of the consumer, the name of the original creditor, the account number that is associated with the debt, the amount of the current debt, and the list of any payments made, interest, added fees, or other things.
- A statement that advises the rights of the consumer under the Fair Debt Collection Practices Act or FCPA, including the one that says the consumer has the right to dispute the debt within 30 days after receiving the letter.
- A form that can be returned that allows the consumer to state that they are disputing the debt and that allows them to choose a reason to dispute.
If the notice that is sent by MRS Associates to you is incomplete, it means it is invalid and they cannot collect from you.
2. Learn about your rights
One of the most important things to do is to know about your rights as a consumer. According to the Fair Debt Collection Practices Act or FDCPA, your rights include:
- A debt collector agency is not allowed to call their consumer before 8 AM or after 9 PM.
- A debt collection agency is not allowed to call the place where their consumer works.
- It is a must for a debt collection agency to communicate with the lawyer or their consumer if they have one.
- A debt collection agency may not be allowed to contact the family members or friends of their consumer to inform them about their debt.
- A debt collection agency is not allowed to send threats to harm their consumer, the reputation of their consumer, and the property of the consumer.
- A debt collection agency is not allowed to use profane language.
- It is a must for a debt collection agency to identify themselves and to identify the company they represent, meaning they are not allowed to claim to be law enforcement or other officials
- A debt collection agency is not allowed to threaten their consumer with imprisonment or seizure of assets.
In case MRS Associates violates the rules, it is possible for you to report them to the Federal Trade Commission (FTC), the Consumer Financial Protection Bureau (CFPB), and the attorney general of your state.
3. Send them a letter
If MRS Associates keeps calling you, it is possible for you to stop them by writing a cease letter asking them to stop calling you. The letter can be sent to the mailing address of the agency. Make sure to send the original one. Do not forget to copy the letter and keep it for yourself.
4. Negotiate a settlement
If you admit that the debt is yours but you do not have money to pay off fully or do not have money to full at the moment, you are recommended to negotiate a settlement with MRS Associates. You can ask them to give you some time to pay off your debt, ask them if you can pay a few times, whether or not you can pay less than what you own, and so on. If you do not have money, do not hesitate to tell them about it. Honesty is important here so please be honest.
5. Seek legal advice
As having to deal with debt collection agencies like MRS Associates can be hard and stressful and it requires knowledge about law, and so on, it is better for you to seek legal advice from a lawyer. The best one for you is the one that specializes in this matter.
Things to Avoid if MRS Associates is Collecting from You
Aside from knowing things to do if MRS Associates is collecting from you, you should also learn about things to avoid in such a situation. When they are collecting from you, make sure to not do the followings:
1. Keep calm and do not panic
Panicking will not help you. Instead, it will make the situation worse because your brain will not be able to think well. When MRS Associates is contacting you, stay calm and do not panic. Take a breath and hear them. After hearing from them, you can decide to take action.
2. Face the situation and do not ignore
Ignoring a thing is not always a good option, including in this situation. If MRS Associates is contacting you, just face them calmly. Do not even think of ignoring it because if you do it means you are at the wrong side. Besides, they can also be more aggressive. Do not get surprised if they take you to court if you ignore them.
Bottom Line
In conclusion, if MRS Associates is collecting from you, make sure to face them and do not even think to ignore them. The next actions that you can do have been mentioned above. In order to face them, it is better for you to hire a legal professional, who is an attorney or a lawyer. If you do not have the budget for it, try to look for a pro bono one.
