If you’re getting calls from IC System or you found them on your credit report, you probably defaulted on a debt and now IC System owns it.
IC System is a well-known collection agency that’s been around since the 1930s. They know what they’re doing with debt collection and they won’t stop until they get what they came for, which is why it’s important to know how to handle them and remove IC System from your credit report.
Why it Matters
If IC System is on your credit report, it hurts your credit score. It tells lenders and the credit bureau that you don’t handle your finances properly. They don’t know why the collection happened – all they see is the collection on your credit report.
A collection can drag your credit score down and make future lenders wary of lending to you, but there are ways to remove IC System from your credit report if you use the right steps.
Make Sure it’s Legit
First, validate the debt. You have only 30 days from the date they first contact you (phone or in writing) to find out, so do this right away.
In writing, ask IC System where they got your information, who the original creditor is, what the outstanding balance is, and for the account number. You could ask as many questions as you want and we recommend that you do.
They have 30 days to respond to your request. If they don’t, they must remove the debt from your credit report (you may still owe it but it can’t be on your credit report).
Dispute any Errors
If you notice any errors on your credit report and you missed the 30-day window to validate the debt, dispute it.
Rather than writing to IC System, you’ll write to the credit bureau reporting the information (Trans Union, Equifax, or Experian). In your letter, explain why you think the information is in error. Like with validation, the credit bureau has 30 days to respond to your request.
If they can’t prove your dispute is incorrect, they must remove IC System from your credit report. Again, this doesn’t mean you don’t owe it – you might, but it won’t affect your credit score.
Work out a Payment Arrangement
Your final step if you still haven’t been able to remove IC System from your credit report is to work out a payment arrangement. This isn’t your standard arrangement though.
First, determine how much you can afford. IC System likely bought your debt for less than its value so they have room to negotiate. Go in with an offer lower than you can afford because they will likely counter-offer what you suggest.
When you get the dollar amount you want, also ask for a pay-for-delete arrangement. This means IC System agrees to delete the collection account from your credit report after you satisfy the payment arrangement.
This helps your credit score increase faster since collections sit on your credit report for 7 years. If you pay the debt off or satisfy it as agreed, they can remove it from the credit report. Granted, the original creditor and its late status will remain, but you won’t have a collection on there any longer which hurts your credit score more and makes lenders not want to lend to you.
Have a Professional Remove the Collection
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 Credit Repair. They’ll take care of you, and honestly they usually get negative items removed quicker than if you try to do it yourself. Give them a call at 1-844-331-6062 or Check out our review of their service.
Bottom Line
Don’t leave IC System on your credit report. You have ways to get it off, but you must act fast. If you want the debt validated, you have 30 days. But don’t worry if you miss that chance, there’s no timeline on how long you have to dispute the debt, but the faster you act the less damage it will do to your credit score.
Once you work out an arrangement or get IC System to agree to remove themselves from your credit report, follow up. Give them 30 to 60 days and pull your credit report again. You get free access weekly until April 2022, so feel free to pull it as much as you need.
Make sure IC System held up their end of the bargain. If they didn’t, go back to the dispute process and dispute the collection since they didn’t do as promised. You can only do this if you get all agreements in writing, though, so always get everything in writing so you have something to fall back on if they don’t do as they promised.