Excessive debt? Take this quiz to find the best solution for you.
If you just received a collection letter in the mail from IC Systems, don't panic.
Here's what you need to know and here's how to proceed ...
Who are IC Systems?
IC Systems is a debt collection agency based in St. Paul, Minnesota. They've been around for over 80 years — since 1938.
A big chunk of their work involves collecting past due credit card debt and past due medical debt.
Note: Technically, their official name is IC System, not IC Systems (plural). But most people refer to them as IC Systems, perhaps because it rolls off the tongue easier?
Is the claim from IC Systems legit?
The first thing to do is determine if the alleged debt on the IC Systems collection letter is legitimate ... or not.
Do you recognize the creditor listed on their collection letter? If yes, is the amount they claim you owe accurate?
If you do not recognize the creditor or the amount is inaccurate, request that IC Systems validate the debt. We have a step-by-step guide showing exactly how to write a debt validation letter here.
Another scenario would be if you've already paid the debt they are claiming you owe. Sometimes clerical mistakes happen. In this case, just provide IC Systems with proof that the matter has been resolved and politely ask them to close their file.
If you know the debt is legit, we do not recommend you invoke the debt validation process as a "stall tactic" or in hopes they "lost the paperwork". First, in today's digital world, it's highly likely IC Systems will be able to produce the documentation validating your debt. Second, forcing IC Systems to invest time and resources validating your debt (when you already know your debt is legit) may antagonize them and adversely affect your ability to negotiate a settlement.
IMPORTANT: Don't ignore their collection letter. Whether you legitimately owe the debt or not, make sure to respond. Failure to respond usually only makes matters worse, especially if you owe the debt.
Negotiating a settlement or payment plan
If your debt is valid, try and work something out with IC Systems.
If you have access to immediate funds, attempt to negotiate an immediate lump sum settlement for a reduced amount.
If you do not have sufficient funds to offer a lump sum settlement, then put forth a monthly payment plan you can afford.
Will creditors really accept less than full balance to settle past due accounts? Absolutely. Here's proof. For the past 15 years, we've helped our clients obtain millions of dollars in debt relief ... without the need to file bankruptcy. If you'd like to talk with us about getting debt relief for you, request a free phone consultation to see if you qualify.
Understand your rights
As a consumer, you are protected by the Fair Debt Collection Practices Act (FDCPA). The FDCPA is a federal law that limits the behavior and actions of third-party debt collectors, such as IC Systems, who are collecting debts on behalf of another entity.
Among the protections the FDCPA offers, debt collectors are prohibited from engaging in abusive or deceptive practices. They cannot call at unreasonable hours, subject you to repeated or continuous calls, use obscene or profane language, or threaten you with violence or harm. Additionally, debt collectors are not allowed to misrepresent the amount you owe or falsely claim to be attorneys or government representatives.
If you believe your rights have been violated under the FDCPA, you can file a complaint with the Federal Trade Commission (FTC) or speak to an attorney about potential legal recourse.
For further reading, you can access the full text of the FDCPA here and more information about your rights under the FDCPA here.
Get professional help if needed
It's ok to ask for help.
Negotiating with debt collectors is stressful and time-consuming.
In addition, there's an art and a skill to negotiation. And some people just aren't good at negotiating. Nothing to be ashamed of.
If you'd like help resolving your outstanding debt(s), request a free consultation and we'll see what we can do to help. Negotiating settlements is our specialty and over the years we've obtained millions of dollars of debt relief for our clients.
We have considerable experience working with IC Systems, so there's a good chance we can obtain a favorable outcome to resolve your situation.
Conclusion
If you have a legitimate outstanding debt being handled by IC Systems, we recommend being proactive and try to work something out voluntarily.
Assuming you have access to sufficient funds, the best option is to try and negotiate a lump sum settlement for less than full balance. If you don't have access to funds, then the next best option is to work out a monthly payment plan you can afford.
Whatever you do, don't ignore calls or letters from IC Systems (or any debt collector) because often that just makes matters worse.
To see if you qualify for debt relief, fill out this form and we can let you know right away.
