Have an issue with National Credit Systems? Need help?
Are you being harassed by a debt collector? Is someone from National Credit Systems contacting you every day, or multiple times per day, by phone, mail, email, or Facebook? Are they threatening to sue? We explain all about National Credit Systems and whether they are legitimate and what to do if they contact you.
National Credit Systems is a debt collector. The company was founded in 1991 and has provided collections services to apartment owners and managers throughout the United States. They provide a range of collection services including pre collection programs, standard collection services, and legal services such as garnishment of your wages or default judgments against you in court.
If you owe legitimate debt, you should pay them. National Credit Systems is a legitimate company that will try and collect. However, even legitimate companies have been known to sometimes act unfairly and violate things like the Fair Debt Collection Practices Act (FDCPA). So if you have been harassed or treated unfairly, consider filing a complaint or working with an attorney.
Yes, National Credit Systems is a legitimate company.
No. They are a debt collection company that collects debt throughout the United States for the multifamily industry, specifically for apartment owners and apartment managers.
Don’t assume you can ignore National Credit Systems. If you ignore their attempts, they might sue you. Sometimes it seems easier to ignore attempts because they are harassing you. Even legitimate companies sometimes make mistakes or violate the most recent FDCPA regulations about when and how they contact you. If this happens, you can share your complaints with outside attorneys, or file complaints with the government. You can get legal help to sue the collection agency if that is insufficient.
National Credit Systems collects for apartment owners and apartment managers, tracking down former tenants who haven’t fulfilled their lease obligations.
Some companies make mistakes. There are times that collections agencies and debt buyers receive a lot of accounts in one bundle and they don’t verify the legitimacy of the information they have. If National Credit Systems is calling you and you don’t think you have debt, you need to send them a request for validation. If National Credit Systems can’t prove the legitimacy of the debt and provide you with evidence that it’s yours, they have to stop trying to collect.What should I do if National Credit Systems is calling about debt I’ve already paid?If you think National Credit Systems is calling about debt you’ve already paid, send a request for validation letter to the company. Make sure you send this via certified mail with some sort of signature confirmation, within 30 days of receiving your first contact from them. Also, check your records just to make sure. There might be a big mistake, and maybe it wasn’t updated in your credit report. If so, you can contact the credit reporting agencies to have the error fixed. This is something an attorney can help you with if you choose.
As a debt collector, some of the laws that National Credit Systems must follow include the FCRA, the FDCPA, and the TCPA.
That alphabet soup stands for the Fair Credit Reporting Act, which gives you rights to help ensure your credit report remains accurate; the Fair Debt Collection Practices Act, which protects you from being abused and deceived by debt collectors; and the Telephone Consumer Protection Act, which limits robocalls and other telephone spam.
If you think any of these consumer protection laws may apply to your situation, tell us about it.
If you believe the debt National Credit Systems is calling about has expired, send a request for validation letter to National Credit Systems within the first 30 days of contact. Also, check your records. Make sure that you have information to prove the debt has expired and that your credit report is accurate. An attorney can help you with this.
It’s important to remember that these companies are trying to get a prophet any way they can. They don’t expect you to repay the full amount of your debt even if they ask you to. They are willing, if you ask, to negotiate for something more reasonable, something you can afford. If you are under financial hardship or you legitimately don’t have the ability to pay the full amount, you can settle for less by communicating this information.
If you owe a legitimate debt, the best way you can get rid of National Credit Systems is to reach a settlement with them. If you don’t think you owe the money they are calling about, the best way to get rid of them is to send them a validation letter forcing them to approve the legitimacy of the debt. If they can’t, then you can send them a cease communications notice and they have to start calling you.
Yes, they can sue you if the debt is current and not expired. However, debt collectors like National Credit Systems are prohibited from suing or threatening to sue consumers for payment on a debt that is past the statute of limitations.
Joel Lackey owns National Credit Systems.
The current CEO is Joel Lackey.
National Credit Systems is headquartered in Atlanta, Georgia.
National Credit Systems specializes in collecting for apartment owners and managers. This means they collect from former tenants who haven’t paid their full lease obligations.
National Credit Systems gets paid for closing your account. They also get paid ahead of time with flat fees for other legal or in-house services. Some apartment owners and managers hire National Credit Systems from the beginning of a tenant lease so that they have in-house staff they can turn to if an account is delinquent. The employees who call you are minimum wage employees often with very little training. They only make bonuses when they reach a settlement with you.
If you look at your credit report and see the name “National Credit Systems”, it means you have an account that was sent to collections. This account is considered delinquent.
You don’t need a lawyer, but a lot of people find it easier to face difficult situations like debt collectors if they have representation. Having someone in your corner so to speak can make it a lot easier to understand your rights, to legitimately offer a settlement that you can afford, and to make sure your credit stays protected.
The FDCPA uses the word “verify,” but some other organizations use the word “validate.” No matter which word is used, it can mean two things. First, You “validate” a debt by sending a letter to National Credit Systems officially asking them for information that would confirm the validity of the debt. You or an attorney must do this within 30 days from the first time they contact you.Second, National Credit Systems then “validates” the debt on their end. to do this they give you all the information you requested that confirmed the authenticity of the debt. Now, once they get your letter they have to stop any attempts to collect from you until they have verified the debt. If they don’t follow the law or they are unable to verify it, they have to stop bothering you. This should be something they complete within 30 days of receiving your letter.
How long it takes to settle with National Credit Systems depends on your situation. If you get a nice employee who is looking at a potentially lucrative bonus in exchange for settling within the next couple of weeks, Your settlement might be over quickly.
How much you offer National Credit Systems is your decision. You should take into consideration your personal finances, how much you can legitimately afford to offer. If you can prove that you are under financial strain but you are trying to make a legitimate effort to repay as much as possible, they are more likely to accept a reduced settlement. Generally speaking debt collectors and debt buyers try to get between 40% and 80% of the total amount.
If you ignore attempts to contact a legitimate debt, yes, they can sue you but in order to take money from your bank account they need a default judgment from a judge to liquidate assets like money in your bank account in order to repay the debt. National Credit Systems in particular offers full legal services as one of their top six financial services, where they provide in-house garnishment of your wages and filing services for legal judgments against you.
Yes, you are allowed to ignore them but you really shouldn’t. In most cases, people ignore debt collectors if they think they don’t actually owe the debt, if the debt has expired, or if they are struggling financially. However, verifying the legitimacy of the account National Credit Systems is calling about can only be done within the first 30 days. You have a much higher chance of fixing problems or negotiating a reasonable settlement if you respond to them immediately.
All of your contact information is associated with your credit account so if your account gets sent to collections, the debt collectors or debt buyers have all the same contact information as the original lender.
Yes you can likely pay your debt with a credit card but they might charge you a processing fee.
Yes, you can improve your credit by paying off collections. Understand though that any accounts sent to collections will remain on your credit score for 7 years after you reach a settlement. You can avoid this by negotiating a trade line deletion with National Credit Systems. This forces the company to remove the account completely from your credit report so it doesn’t show up at all after you have reached a settlement.
Debt doesn’t magically go away after seven years although it can legitimately expire. Your expiration date is also called the statute of limitations. Not all debt qualifies. Things like student loans never expire. But things like credit card debt will expire once they reach the statute of limitations. The statute of limitations varies based on the type of debt and the state. It is for this reason that debt buyers pay less money for older accounts because they simply don’t have as much time to try and collect from you before it expires.
Many people believe that when you file for bankruptcy, it makes all of your debt go away. This isn’t entirely true. When you file for bankruptcy you have to choose the type of bankruptcy known as chapter that best fits your situation. Most people end up filing chapter 13 which is a restructuring or repayment plan. This means that over the span of five years you repay your creditors as much as you can based on your current financial situation. You have to negotiate with all of your creditors and get them to accept this deal. Then, you have to make sure you don’t miss a payment at all or the entire deal goes out the window and you have to pay for everything all over again. If you meet the terms of your bankruptcy deal, at the end of the time frame any remaining debt goes away.
If you have debt you have already paid, depending on the circumstances of your repayment it may or may not go away immediately. Sometimes accounts that are sent to collections are thought to disappear as soon as you pay it off, but they stay on your record for 7 years. You can avoid this by negotiating what is called a tradeline deletion where that particular account gets deleted from your credit report entirely. This means it doesn’t get counted against you in your credit score. If you have debt that is expired or inaccurate and you have proof of that, contact the credit reporting agencies to have them fix the problem or remove the debt.
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