Is Merchants' Credit Guide Legit? What You Need to Know

You see Merchants’ Credit Guide flash on your caller ID again. You wonder if it’s spam or something serious.

The calls are legitimate. Merchants’ Credit Guide is a real debt collection agency. They may be contacting you about an unpaid debt that needs your attention.

Respond to Merchants' Credit Guide Before the Deadline

You may have only two weeks to file your Answer to a collection lawsuit. Don't let Merchants' Credit Guide win by default and add legal fees to your debt.

Answer the Lawsuit

Here’s what you need to know and how to handle the situation.

Is Merchants’ Credit Guide a Scam?

Merchants’ Credit Guide Co. is not a scam. The Chicago-based company has operated since 1896.

They work as a third-party debt collection service. They purchase debts from original creditors and collect on those debts.

If they’re calling you, they believe you owe money. The debt could be from credit cards or other consumer accounts.

Check Their Reviews and Complaints

The company holds BBB accreditation. However, their record shows numerous customer complaints.

The BBB profile reveals multiple grievances. The Consumer Financial Protection Bureau database shows several hundred complaints against the company.

Some complaints have escalated to legal action. You should take their contact seriously.

Merchants’ Credit Guide Contact Information

Their main customer service number is 888-249-4134. You might receive calls from (888) 249-3815.

The office line is (312) 360-3000. Call volume can be high since they serve both consumers and merchants.

Their headquarters address is 209 South LaSalle St., Suite 900, Chicago, IL 60604.

Include your file number in all correspondence. You can find this number on voicemails or previous letters.

Know Your Rights Under the FDCPA

The Fair Debt Collection Practices Act protects you from aggressive tactics. Debt collectors must follow specific rules.

They cannot:

Call before 8 a.m. or after 9 p.m.
Call you multiple times daily
Hide their identity as a collection agency
Refuse to validate your debt
Use offensive or vulgar language
Threaten arrest for unpaid debts
Discuss your debt with family or coworkers
Ignore your Cease and Desist letter

Report FDCPA Violations

If Merchants’ Credit Guide violates these rules, report them. Contact the Federal Trade Commission at 877-382-4357.

You can also file a complaint with the Consumer Financial Protection Bureau. Call them at 855-411-2372 or use their website.

Three Steps to Settle Your Debt

Constant collection calls are stressful. Your best move is settling the debt if it’s legitimate.

Follow these three steps to resolve your situation.

Step 1: Respond to Any Lawsuit

Merchants’ Credit Guide may sue you to collect unpaid debt. Don’t ignore a lawsuit.

File an Answer with the court immediately. You may have as little as two weeks to respond.

Missing the deadline lets the court issue a default judgment. The company could win automatically and add legal fees to your debt.

Our partner Solo makes responding easy. Generate your Answer quickly and file it correctly.

Step 2: Verify the Debt

Never admit the debt belongs to you without proof. Send a Debt Validation Letter first.

The letter forces the company to provide evidence. They must show the original creditor’s name, debt amount, and date.

Collection activity must stop until they validate the debt. You gain time and clarity about what you actually owe.

Step 3: Negotiate a Settlement

Once verified, you can settle for less than the full amount. Start by offering 60% of the total debt.

Merchants’ Credit Guide may counter your offer. Negotiate until you reach a reasonable agreement.

Our partner Solo handles negotiations for you. You only pay when a settlement is officially reached.

Example: Tiffany researched Merchants’ Credit Guide and confirmed they were legitimate. She sent a Debt Validation Letter to verify the debt. When the company couldn’t validate it, the collection calls stopped completely.

Stop the Collection Calls

You can end Merchants’ Credit Guide collection calls permanently. Take the right steps to protect yourself and resolve the debt.

Respond to lawsuits quickly. Verify every debt before paying. Negotiate settlements that work for your budget.

You have rights under federal law. Use them to your advantage and settle on your terms.

Frequently Asked Questions

What is Merchants' Credit Guide?

Merchants' Credit Guide Co. is a third-party debt collection agency based in Chicago that has operated since 1896. They purchase debts from original creditors and contact debtors to collect on credit card and consumer debts.

How do I verify a debt from Merchants' Credit Guide?

Send a Debt Validation Letter requesting proof of the debt. The company must provide the original creditor's name, the debt amount, and the date of the original debt. They cannot continue collection activities until they validate the debt.

Can I settle my Merchants' Credit Guide debt for less?

Yes, you can negotiate a settlement for less than the full amount owed. Start by offering around 60% of the debt and negotiate from there. Using a settlement service can help you negotiate without direct contact with collectors.

What should I do if Merchants' Credit Guide sues me?

File an Answer with the court immediately, typically within two weeks. Failing to respond can result in a default judgment against you, adding legal fees to your debt. Respond quickly to protect your rights and avoid automatic judgments.

How do I report FDCPA violations by Merchants' Credit Guide?

Contact the Federal Trade Commission at 877-382-4357 or file online at their website. You can also report violations to the Consumer Financial Protection Bureau at 855-411-2372 or through their complaint portal.

Is Merchants’ Credit Guide Legit? What You Need to Know