What Is MRS Associates and Why Is It on My Credit Report?

Emma DeGrandi
Reading Time: 3 minutes

MRS Associates is a debt collection agency based out of Cherry Hill, New Jersey and founded in 1991. The agency has taken on several corporate clients, including those in telecom, student loan, auto loan, credit card, and healthcare industries.

MRS may appear on your credit report as any of the following: “mrs and associates,”“mrs company,”“mrs associates nj,”“mrs pay, mrs collections,”or “mrsassociates.”

Collection agencies, such as MRS Associates, are hired by lenders or creditors to recover debts that are at least 60 days past due. These institutions act as middlemen between borrowers and banks, credit card issuers, or personal loan lenders.

If you see a notice from MRS Associates, or any collection agency for that matter, act fast. Any debt that has gone to collections negatively impacts your credit score and stays on your account for up to seven years — no matter how big or small the debt it is.

MRS Associates Phone Number

You can reach MRS Associates at (888) 334-5677.

What to Do if You See MRS Associates on Your Credit Reports

If you see MRS Associates on your credit reports, a lender has placed a charge-off on one of your accounts. Charge-offs typically only occur after several missed payments.

Keep in mind that a charge-off does not mean that you no longer have to pay the debt. Payment is still owed, but rather than paying your original lender, you now must pay the collection agency — in this case, MRS Associates.

Although working with a collection agency can be tough, taking action is the only way to save your credit score.

Detailed below is a series of steps to take after you see MRS Associates on your credit reports.

Verify if It’s Legitimate

You’ll want to verify the legitimacy of both the agency and of the debt. While you know MRS Associate is a real, legitimate company, not every collection agency that contacts you will be. Knowing how to spot the real agencies from the fake ones is essential. The last thing you want to do is pay off a debt that you never owed.

Below are a few tactics to help you verify the legitimacy of a collection agency:

  • Snail mail is the primary method of communication: Legitimate collection agencies will always send you letters in the mail. While they may also call, snail mail is the more accepted method of communication.
    • Written forms of communication are essential for leaving a paper trail. So if you’ve received a phone call from a debt collector, keep an eye on the mailbox.
  • Contact information is provided: Legitimate collection agencies will always offer their contact information — such as a phone number, an address, and the company name.
  • Information about the debt is available: In addition to sharing contact information, legitimate collection agencies will also provide information about the debt.
    • Be sure to ask for the name of the creditor seeking payment and the amount owed. Companies that won’t share these details are a cause for concern.
    • If the company won’t share information with you, or if they berate or threaten you, it’s an automatic red flag. Do not share any personal or debt-related details until you have verified that the company is legit and the debt is yours.

It is always possible that a real collection agency will contact you, but that the debt in question is not yours. If you suspect this to be the case, write the agency and demand that they prove it’s yours.

Pay It Off

If the debt is truly yours, the next thing you’ll need to do is pay it off. Keep in mind that paying off a debt does not mean the collections account goes away. Rather, the account will reflect a balance of zero.

Speak to a Credit Counselor

Working with a collection agency can be difficult, especially if you’ve never done so before. If you need assistance, you can always speak to a credit counselor. Search for accredited counselors through the National Foundation for Credit Counseling.  

Besides working with collection agencies to remove debts, credit counselors can also give budgeting advice and assist in debt management plans. The best credit counselors work hard to save you money by negotiating to have negative items removed on your behalf.

How to Remove MRS Associates From Your Credit Reports

If a debt isn’t yours, removing MRS Associates from your credit reports is a relatively easy process. But for debts that are truly yours, the process may be more challenging.

Once you’ve paid them off, there are a few options for removing debts that were yours. One option is a good faith letter. You can write the collector a letter telling them the reason why you need a debt removed from your reports. This is not guaranteed to work, but it doesn’t hurt to try.

A second option is pay-for-delete, a process that implies that payment on a debt will be exchanged for removal of a collections account. The process can also be completed via letter. This is an uncommon process as it is generally considered unethical. Collection agencies are legally required to report accurate information to credit reporting agencies.

It may take some time to remove MRS Associates from your credit reports, pay down debt, or otherwise deal with a collection agency. Remember to stay calm and collected, and to use all resources available to you — from credit counselors to debt management plans.


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