For many people, interactions with an accounts receivable company, otherwise known as a collection agency, can be an intimidating experience. When interacting with such a company, confusion can arise that can not only impede the process of achieving financial resolution but also create undue stress for the customer. IC Systems, a leader in the field of collections, understands this and has made information available on two commonly asked questions related to this process so as to alleviate this stress. One question centers around what to do when contacted by the company, while the other is concerned with what to do when the company appears on your credit report. Below, you will find a guide to navigating these questions, as well as an overview of the company itself.
Company at a Glance
IC Systems, which was founded in 1938, is headquartered just outside of St. Paul, Minnesota. The accounts receivable company was started by Ruth and Jack Erickson and has continued to be a family-run operation throughout the 80 years of its operation, now on its third generation of family ownership. That commitment to family has helped the company maintain a focus on the moral and ethical practices which have formed the cornerstone of its operations since its beginning.
This commitment to the above ideals is evident throughout every facet of the company but is perhaps best epitomized through its statement of core values, the codification of the manner in which the company is run. These values include a commitment to treating people with dignity, a focus on integrity, a strive for performance that exceeds expectations, a sense of pride in what the company does, and a continuous search for innovation. Along with many other efforts the company takes to promote these values, it works to recognize them in its employees by giving out the Core Value Award each quarter to the employee who best exemplifies the code and the morals for which it stands.
What to Do If IC Systems Calls
The first thing to remember when being contacted by the company is to remain calm. Though it can sometimes be surprising to be contacted, especially when faced with some of the questions at the beginning of a typical call, it’s important to know that this is a very routine part of the collection process. Collection agencies are bound to a specific set of guidelines by the Fair Debt Collection Practices Act, which dictate how they must interact with customers during a phone call. Part of these guidelines, put in place to ensure the privacy of personal data, requires a verification of a first and last name. Without that information, a collection agency is not permitted to even disclose the creditor for whom it’s calling.
So even though it may seem odd, this process of asking basic identifying information is required by law and is designed to help protect consumers. Once the required information is verified, you’ll be able to discuss some of the more confidential information associated with your account. At this point, it’s important to confirm that the information on file is accurate and up to date. Though the company always strives to maintain error-free records, it is possible recent changes or other considerations may not be reflected in its system. If the account information is correct, you’ll be able to proceed with the agent to help resolve the outstanding financial obligation.
The company takes its responsibilities towards clients and customers alike very seriously, which is why it is firmly committed to monitoring calls placed by agents. By reviewing these calls on a recurring basis, the company can better ensure that agents are following proper protocols. By following these protocols, the company can provide a high level of service that is in line with all appropriate legal considerations and is also both courteous and efficient.
A separate team handles regular auditing to ensure that company-wide policies are being adhered to in a routine manner. This team consists of dedicated employees and executives to ensure the best possible compliance. This focus on service and quality is just another example of the company’s commitment to its code of ethics in every aspect of its operations.
What to Do If You Find IC Systems on Your Credit Report
If you are checking your credit report and notice the company appearing as a negative tradeline, this can be indicative that you have a past-due bill, although it could also be erroneous. A few questions to ask yourself if you have this experience are whether or not you, in fact, owe the debt in question, and if the information on the report matches the information in your records. In the event that you do owe the debt, you can reach out to the company directly to make a payment. When you contact a consumer financial representative, you’ll be guided through the process of paying the debt in an easy and convenient manner.
If you determine that the listing on your credit report was made in error, the company can help you investigate this. This can be helpful in cases of identity theft, where you did not make the purchase in question. To reach out to the company in the case of such an error, you can visit the “dispute an account”section of its website. Once notified, the company will locate your information and launch an investigation. Following that, you will be contacted to further discuss the account and determine a solution.
Though being contacted by, or seeing an item on your credit report by, a collection agency can be jarring, it doesn’t have to be a difficult situation to navigate. Armed with the above information, you can take a calm approach to help you reach a financial resolution as quickly as possible. The above information, provided by IC Systems, is a useful tool for anyone who is contacted by the company. By following the above guidelines, you will find that your interactions with the company’s staff of highly-trained representatives will be a much smoother process than you might have previously anticipated.
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