Posted on: 23rd Mar, 2009 07:50 am
we've heard horror stories about some of the things that debt collectors may say to those they are calling in an attempt to collect.
if ever you feel that you've been verbally abused by a collector, contact the attorney general's office in your state to determine if you have a violation on your hands. one of the best ways to deal with a collections call is to take notes of all that is said.
in order to avoid being the victim of unfair and unreasonable actions by collectors who call you, there are several steps you are advised to take.
first of all, when a collector is calling and you know why - answer the phone. there is no way for you to express the difficulty you are in if you refuse to speak to the collector. and, of course, when you avoid contact, a creditor will quite likely believe you're hiding something. being frank and discussing your situation with a collection agent may prevent legal action, which they'd like to avoid as well.
next - don't provide all the gory details about your circumstances. collectors are calling for the sole purpose of getting payment from you. they cannot help with your issues, nor do they wish to discuss them. furthermore, things you offer could be detrimental to you.
next - if you are unclear about what you owe, ask for written documentation of the debt. creditors must provide you with this information within 5 days after they've contacted you. if you see a discrepancy in the amount owed nonce you've received that information, send a written request asking that the creditor reverify the debt.
if you acknowledge that the debt is correct, provide the collector with a timeframe in which you'll be able to make a payment. if you're unable to make a payment immediately, let them know that and that you'll call back within a month and give them a better idea of when you can make payment. do not allow the collector to pressure you into making an arrangement for payment that you can't keep. that will only cause you more aggravation.
if you're able, try to negotiate a payoff of the debt for less than what is owed. you may be able to shave half of the amount owed if you can pay it quickly. once again, the collector is merely trying to obtain payment.
by all means, do not argue with the collector. remember that, just like you, this is a person on the other end of the phone. it's merely someone doing their job, attempting to work out a solution that is fair to all concerned.
remember, keep some sort of record of your conversations. if a collector breaks the law, you'll want to have proof of it. also, you can insist that collections calls be stopped. in order to do so, though, you must do that in writing. that won't stop the creditor from seeking payment, but they'll have to do so in other ways other than telephone calls.
be sure to check with your local attorney general if you feel you've been dealt with unfairly, and check the federal trade commission's website at ftc.gov. there's a lot of information on there that you'll find valuable.
if ever you feel that you've been verbally abused by a collector, contact the attorney general's office in your state to determine if you have a violation on your hands. one of the best ways to deal with a collections call is to take notes of all that is said.
in order to avoid being the victim of unfair and unreasonable actions by collectors who call you, there are several steps you are advised to take.
first of all, when a collector is calling and you know why - answer the phone. there is no way for you to express the difficulty you are in if you refuse to speak to the collector. and, of course, when you avoid contact, a creditor will quite likely believe you're hiding something. being frank and discussing your situation with a collection agent may prevent legal action, which they'd like to avoid as well.
next - don't provide all the gory details about your circumstances. collectors are calling for the sole purpose of getting payment from you. they cannot help with your issues, nor do they wish to discuss them. furthermore, things you offer could be detrimental to you.
next - if you are unclear about what you owe, ask for written documentation of the debt. creditors must provide you with this information within 5 days after they've contacted you. if you see a discrepancy in the amount owed nonce you've received that information, send a written request asking that the creditor reverify the debt.
if you acknowledge that the debt is correct, provide the collector with a timeframe in which you'll be able to make a payment. if you're unable to make a payment immediately, let them know that and that you'll call back within a month and give them a better idea of when you can make payment. do not allow the collector to pressure you into making an arrangement for payment that you can't keep. that will only cause you more aggravation.
if you're able, try to negotiate a payoff of the debt for less than what is owed. you may be able to shave half of the amount owed if you can pay it quickly. once again, the collector is merely trying to obtain payment.
by all means, do not argue with the collector. remember that, just like you, this is a person on the other end of the phone. it's merely someone doing their job, attempting to work out a solution that is fair to all concerned.
remember, keep some sort of record of your conversations. if a collector breaks the law, you'll want to have proof of it. also, you can insist that collections calls be stopped. in order to do so, though, you must do that in writing. that won't stop the creditor from seeking payment, but they'll have to do so in other ways other than telephone calls.
be sure to check with your local attorney general if you feel you've been dealt with unfairly, and check the federal trade commission's website at ftc.gov. there's a lot of information on there that you'll find valuable.
Thanks George for the above post :) This will surely help a lot of people who are dealing with the collectors. I think it is very important to negotiate with the collectors patiently and let him know about the hardship that the debtor is facing.
The debt collectors do not have the right to harass, oppress, or abuse the debtors or any third parties they contact. They cannot use threats of violence or harm in order to compel people to pay off their debts. Apart from this, they cannot use obscene or profane language.
There are a lot of people who do not know what debt validation is. Debt validation demands the creditor to prove to you that the account is really your responsibility and that the balances that they are demanding are accurate.
The debt collectors do not have the right to harass, oppress, or abuse the debtors or any third parties they contact. They cannot use threats of violence or harm in order to compel people to pay off their debts. Apart from this, they cannot use obscene or profane language.
There are a lot of people who do not know what debt validation is. Debt validation demands the creditor to prove to you that the account is really your responsibility and that the balances that they are demanding are accurate.
I agree with Adonis. George has really given some important information to deal with the collectors.
As a debtor, you should not ignore the debt problems. Avoiding responsibility will not help the you in any way. It is always better if you could pay off your debts asap. If you keep on ignoring your debts, the debt may increase as you would be charged more interest. There are chances that your assets can be repossessed and sold. The most important thing is that your credit rating will get affected due to non-payment of debts which can hamper your chances of getting a loan in future. The collector can also sue you.
As a debtor, you can negotiate for a repayment plan. If you are facing any kind of financial crisis, you should inform your creditors and seek a repayment plan. You will be in a better position if you contact the creditor as soon as possible regarding your hardship. You can check out the following tips to negotiate a repayment plan:
Once the creditor gives you a repayment plan, make it a point to abide by it. When you are dealing with creditors, it is important to keep personal records about your dealings. You should keep receipts of payment and copies of any letters or emails issued by the creditor to you. If you are sending any documents, keep the original with you and send a copy to the lender.
As a debtor, you should not ignore the debt problems. Avoiding responsibility will not help the you in any way. It is always better if you could pay off your debts asap. If you keep on ignoring your debts, the debt may increase as you would be charged more interest. There are chances that your assets can be repossessed and sold. The most important thing is that your credit rating will get affected due to non-payment of debts which can hamper your chances of getting a loan in future. The collector can also sue you.
As a debtor, you can negotiate for a repayment plan. If you are facing any kind of financial crisis, you should inform your creditors and seek a repayment plan. You will be in a better position if you contact the creditor as soon as possible regarding your hardship. You can check out the following tips to negotiate a repayment plan:
- You should be honest with the debt collector about your situation.
- Inform the creditor how much you can afford to pay and when you can make payments.
- Continue making at least partial payments until an agreement is made.
- Ask for any agreements to be confirmed in writing.
Once the creditor gives you a repayment plan, make it a point to abide by it. When you are dealing with creditors, it is important to keep personal records about your dealings. You should keep receipts of payment and copies of any letters or emails issued by the creditor to you. If you are sending any documents, keep the original with you and send a copy to the lender.
Hi all,
I hear a lot of stories about debt collectors harassing debtors for payments. To most debtors, collection calls are scary. Well it's quite obvious that debtors may feel scared when they're called at odd hours of the day including the time when they're at their workplace.
I personally feel the best way to handle debt collectors is to know your basic rights as a consumer and use them as and when required. In this regard, one should be well aware of the Fair Debt Collection and Practices Act, which speaks about the limitations of debt collectors with respect to what they can and what they can't do when they deal with debtors.
Now, if you owe the debt, the best option is to pay it off. You may either settle the debt or consolidate it by making monthly payments in negotiation with the collector. You may try and negotiate yourself or if you don't feel comfortable doing it on your own, just seek help from a debt settlement or consolidation company. But say, you don't owe the debt, and the collector still calls you - in such a case, just send him a Cease and Desist Letter asking him to stop contacting you because you actually don't owe the debt. As per the laws, the collector should stop further communication once you send a Cease and Desist Letter along with proof of payment of the debt.
Regards,
Jessica
I hear a lot of stories about debt collectors harassing debtors for payments. To most debtors, collection calls are scary. Well it's quite obvious that debtors may feel scared when they're called at odd hours of the day including the time when they're at their workplace.
I personally feel the best way to handle debt collectors is to know your basic rights as a consumer and use them as and when required. In this regard, one should be well aware of the Fair Debt Collection and Practices Act, which speaks about the limitations of debt collectors with respect to what they can and what they can't do when they deal with debtors.
Now, if you owe the debt, the best option is to pay it off. You may either settle the debt or consolidate it by making monthly payments in negotiation with the collector. You may try and negotiate yourself or if you don't feel comfortable doing it on your own, just seek help from a debt settlement or consolidation company. But say, you don't owe the debt, and the collector still calls you - in such a case, just send him a Cease and Desist Letter asking him to stop contacting you because you actually don't owe the debt. As per the laws, the collector should stop further communication once you send a Cease and Desist Letter along with proof of payment of the debt.
Regards,
Jessica
I would also like to add that when corresponding by mail with collectors that you should always send your mail certified with delivery confirmation. I believe it is only like an extra .60 cents for the delivery confirmation but it allows you to go online and view the signature of the person who signed for the letter. you can then print this to keep for your records in case it is needed.
good thought.
