The Mercantile Adjustment Bureau is a debt collection agency headquartered in Williamsville, New York. According to their website they have been in business since 1934, and specialize in third-party collection services.
This means they will buy debt accounts from other collection agencies. Mercantile Adjustment Bureau will collect on a wide variety of debt accounts including:
- Medical services
- Higher education
- Financial services
- And more
On a side note, Mercantile Adjustment Bureau recently purchased the Creditors Interchange Receivable Management LLC collection agency. This means that Mercantile and their 500 employees are contacting many more consumers today for repayment of alleged debts!
Mercantile Adjustment Bureau
165 Lawrence Bell Drive
Williamsville, NY 14221
Phone Numbers: 716–929–8200, 800–480–7094
6 Steps Before You Pay Mercantile Adjustment Bureau
1. Do You Recognize The Debt Mercantile Claims You Owe?
If you do not recognize the debt Mercantile Adjustment Bureau is contacting you for payment on, then you should request debt verification.
2. Debt Verification
You can do this yourself by sending a debt verification letter directly to Mercantile Adjustment Bureau. This is going to require Mercantile to furnish you the legal evidence that they own collection rights on your debt account.
If they are unable to do this, then you are not responsible for repayment. Mercantile Adjustment Bureau is also supposed to remove collections from credit report histories by contacting all 3 of the major credit bureaus.
If your debt is legit, then you should negotiate a settlement agreement. You should always negotiate to pay less than the total balance they claim you owe. This is because often Mercantile Adjustment Bureau will purchase your debt for just pennies on the dollar.
If they claim you own a $400 debt it is possible that Mercantile purchased the collection rights for just $40. Thus, any amount you pay over $40 is going to be profit for Mercantile Adjustment Bureau. The worst thing that can happen when negotiating is they say no. We encourage you start your settlement negotiations with a very low offer.
4. Statute Of Limitations
Did you know most consumer debts carry a Statute Of Limitations (SOL). This is the legal time frame you are responsible for repayment of a debt. The statute of limitations will vary from state to state. Typically it is 7 years from the first date of delinquency.
If you are currently dealing with bill collectors you should consider how old your debt is before making a payment. It may be easier and cheaper to just wait out the statute of limitations. Instead, of paying Mercantile Adjustment Bureau.
5. Dispute The Credit Bureaus
Do you have collections on your credit report from Mercantile Adjustment Bureau? If so, the most effective way to remove collections from your credit report is to dispute each of the 3 major credit bureaus. You can do this yourself or hire a credit repair law firm to do it on your behalf.
6. Avoid Being Sued
Yes, it’s true Mercantile Adjustment Bureau has the authority to file a civil lawsuit against you. This can result in your wages being garnished and liens being placed against you. If Mercantile Adjustment Bureau is contacting you please address this issue before it results in more bad credit items or a civil lawsuit against you.
We encourage our members to consider professional, legal, and legitimate credit score help. One of the best companies is the Credit Pros. They’ll work to remove erroneous, negative, and derogatory listings from your credit reports.
Take action today and get a free credit consultation by calling 1-877-418-7596. For more tips, strategies, about how to get better credit with Dan Willis, sign up for our free newsletter.
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