What does REC MGT GRP mean on my credit report?

Updated January 1, 2023

What is REC MGT GRP?

REC MGT GRP is shorthand for Receivables Management Corporation, with the company name being Receivables Management Corporation Inc

REC MGT GRP is a Creditor provider. They could be on your report for a number of reasons, for example:

• ⚫ You missed a repayment.

• ⚫ You opened an account with Receivables Management Corporation.

• ⚫ You opened a credit card / loan / mortgage with this company.

• ⚫ Someone fraudulently opened a credit line under your name.

About the account

The account is classified under the following METRO2 categories:

• ⚫ Collection Agency/Attorney

How do I contact them?

Here is the current contact details for Receivables Management Corporation:

Address:

• PO Box 50685 Columbia, SC 29250

Website:

• http:

Email:

• sales@rmccollect.com

Phone:

• 803-776-2030

Payments

RMC offers payment methods such as wire transfer and other forms of payment to help clients attain long-term receivable and profitability goals. To make a payment, contact RMC at 800-499-9971 or 803-744-5100 in Columbia, or 864-614-1699 or 888-350-3270 in Greenville, and providing full identification and a current address. You must also obtain a valid access code in order to use the online portal.

Question	Answer
Do they offer a monthly payment plan?	No
Can I make payments over the phone?	No
Can I make payments online?	Yes
Do they offer a discount for automatic payments?	No
Can I make a payment using a mobile app?	Yes
Can I make a payment using a prepaid debit card?	No
Can I make a payment using a wire transfer?	Yes

Forgiveness and Cancellation

RMC does not offer loan forgiveness or consolidation services.

Question	Answer
Do they offer loan forgiveness?	No
Do they offer loan consolidation?	No

How to Apply

You cannot apply for a loan with Receivables Management Corporation online, over the phone, in person, or with a cosigner.

Question	Answer
Can I apply for a loan online?	No
Can I apply for a loan over a phone call?	No
Can I apply for a loan in person?	No
Can I apply for a loan using a mobile app?	No
Can I apply for a loan with a cosigner?	No

SmartCredit Report Example

• This is an example of what this creditor will look like on your SmartCredit report.

Will this affect my credit score?

Whether this account affects your credit score depends on a variety of factors, such as:

• Account Open Date: If you opened this account recently it will impact your credit, the only way to prevent this from impacting your credit score is to remove the account from your report.
• Derogatory Markings: If this account has any derogatory markings such as: Lates, Charge Offs, Collections and others.

However, there are could be some potential positive aspects to this account which could lead to improving your credit score, such as:

• Account Age: If your account is quite old, then the age of it will positively impact your credit score
• Repayment History: If the account has no Late Payments, Charge off Payments, then it may reflect a positive impact onto your credit score.

Can it be removed from my credit report?

Yes, with the right strategy, you will be able to remove any account from your report. But you have to be careful to ensure that the account is negative to begin with, or it will negatively impact your credit score.

However, removing a negative account will positively impact your credit score, allowing you to open new credit lines and potentially removing bad debt.

How do I remove REC MGT GRP from my credit report?

You can send a dispute letter to the credit bureaus to remove this account from your report. You must send a dispute letter to all three credit bureaus, as they are legally required to remove the account from your report if it is found to be inaccurate. For best results you should send a dispute letter to the credit bureaus via certified mail, this will ensure that you have a legal record of the communication.

• Sample Equifax Dispute Letter
• Sample Experian Dispute Letter
• Sample TransUnion Dispute Letter