If you’ve recently received either a letter or phone call from IC Systems, it’s important to familiarize yourself with the proper steps to take next. Since the company exists to help facilitate financial resolutions between their clients and consumers, you will find that your interactions with them can be helpful and productive if you’re proactive. Alternatively, while it’s easy to let such correspondence go unanswered, a failure to respond may complicate your situation and make your financial outcome more difficult. Read on for a quick primer on the types of common mistakes you’ll want to avoid as you work with the company to bring a resolution to your case.
Don’t be overtaken by emotion
For those who have never experienced such a situation, the receipt of a collection letter or call can be scary. Though this is understandable, it is important to push through such an emotional state as quickly as possible to arrive at a more productive mindset. By allowing fear or anxiety to control your actions you may be actively causing yourself financial harm. Instead, try encouraging a desire to resolve the situation in a quick and efficient manner. This will allow you to move on in the easiest way possible.
One thing to remember in this type of situation is the nature of IC Systems itself. The company prides itself on ethical and honest treatment of clients and consumers alike. That means that, though understandable, a sense of hesitation when dealing with the company is ultimately unfounded. In fact, in its eighty-year history, the company has built a reputation for being one of the leaders in the field of collections and has consistently been praised for the way in which it interacts with consumers. Availing yourself of the company’s inclination to treat your fairly will help to make sure your case is resolved in a beneficial manner.
Confirm all information
Though it is an uncommon occurrence, it is possible you’ve been contacted in error. That error may arise from the specifics of the debt in question, or it may pertain more to a case of mistaken identity. Whatever the possible mix-up, it’s always in your best interest to confirm the specifics of the information that the collection agency has pertaining to you and your account. This can be done by corresponding via their website, telephone, email, or postal mail. Since the first two options are the quickest, they are the recommended method for correspondence. Remember, the faster you can resolve your issue the better (Patch).
If you do find that the information being used to contact you is wrong in some way, take immediate action to notify the company so that any error can be cleared up. If the error is merely in the amount owed, then you will still be responsible for repaying the correct amount. If you were contacted entirely in error, then you will be able to clear up the misunderstanding through correspondence. Whatever the outcome, confirm with the company that you fully understand the next step to be taken.
Don’t skip town
Some people incorrectly assume that if they leave the area in which the debt was accrued then they will not need to pay back their creditor. This is an incorrect assumption and may result in additional fees being added to your debt for which you will then become responsible. IC Systems is licensed and/or bonded in all territories and states in the country and they will be able to pursue debt upon their client’s behalf even if you leave the area in which it was accrued.
This advice holds true even if you are not leaving the local area but instead are simply ignoring correspondence relating to your debt. While some people may adopt an “out of sight out of mind” mentality when dealing with debt, this can again prove problematic to your long-term financial future.
Avoid the temptation to delay
Even if you intend to pay back your debt, you may find yourself tempted to hold off on repaying it for one reason or another. It’s possible you are short on cash yourself or are waiting for a paycheck or other source of income to clear. This again can make the amount of your debt go up. The best course of action in this case is to contact the collection agency and speak with a representative. By speaking directly with the company you improve your ability to resolve the issue in a way that takes the specifics of your situation into account.
Alternatively, failure to contact the collection agency in favor of just waiting to have sufficient funds to repay a debt can have severe consequences. Not only can the amount you owe increase in accordance with whatever late fees your creditor assesses, but it can also negatively affect your credit score. Late repayment of debt is sometimes reported to credit bureaus. If you have a late payment, it can make your score drop significantly and may make it difficult for you to secure loans in the future. This can hamper your ability to purchase a car, a house, or even get approved for tuition costs to attend school.
Reviewing the above common mistakes that are made when receiving correspondence from IC Systems can help ensure that you do not fall prey to the same errors as others. Though the experience of being contacted by a collection agency can be scary, it only does you harm if you panic, delay, or otherwise avoid the situation. Instead, seek to address the issue in a direct manner by contacting a representative at the company. With a long history of ethical and courteous customer service, such a representative will be able to facilitate a prompt resolution to your dilemma.