If you have had the unfortunate pleasure of having an account turned over to a credit collection agency, you know how difficult it can be to handle the debt collectors. Some of the individuals working for these agencies use unethical and even illegal tactics in an attempt to bully you into paying your debt. There are some things you should know in order to help you better handle credit collections agencies.
It is quite clear that you should do all you can to remain current with any bills and debts in order to avoid ever being turned over to a credit collection agency. If it is too late for that, then you will need to start dealing with the credit collection agency in an effort to resolve your debt.
If you receive a phone call from a credit collection agency without receiving a document pertaining to your debt, you should request that they send you information regarding your debt before you communicate further with them. Make certain that any papers you receive from the collection agency reflect the name of your original creditor and the amount of debt you currently owe.
When you are first notified of a debt that has been turned over to a credit collection agency, you will want to ask for the debt to be verified. The papers you receive will often tell you that you only have 30 days to request verification of that debt. Respond to their correspondence as quickly as possible to receive validation of your debt.
Compare the validation with your own files to make certain this is actually your debt. If you believe that the debt listed is more than you owe, you should attempt to contact the original creditor. Keep all papers that you have from the original creditor in case you need to dispute the amount of your debt with the credit collection agency, the original creditor and/or one of the credit reporting agencies.
You do have the right to ask credit collection agencies to cease contacting you over the telephone. You can put this in writing to ensure that they will respond to your request. They are no longer able to call you after they receive your official request. You can decide if you want the collection agency to contact by mail or if you want them to cease contact all together. Keep in mind, however, that you still owe your debt whether or not you are willing to communicate with debt collectors.
It is typically best to keep at least one line of communication open with a debt collector (as annoying as they can be). This is the only way that you can work to make repayment arrangements that are acceptable to the credit collection agency and fair to you.
If you want to communicate with a credit collection agency, you should send all correspondence in writing. Any written materials you send to a collection agency should be sent through certified mail. You will want to pay the extra money for receipt verification as well. This is the only way you will know for sure if they received your correspondence.
Keep any and all paperwork that you receive from a credit collection agency. If you do talk to a representative from the agency on the telephone, keep a journal of the conversation. Write down notes so that you remember what you said and what they said. Jot down the name of anyone you speak to at the collection agency as well as the date you spoke to them.
Even if you do plan to make payments on a debt that is listed with a collection agency, do not allow the credit collector to enroll you in automatic withdraw. You do not want to give out your banking account information or your credit card details over the telephone. Make it clear to the collector that you will send your payment in the mail each month.
Do not accept a settlement agreement until you are able to view the details in writing. Make certain that all aspects of the payoff agreement are suitable to you. If the credit collection agency said they will report your account as being paid in full upon receipt of your payoff notice, the letter should clearly state that. Of course, the agreed upon payoff amount to settle your account should also be listed.
If you have a serious problem with a delinquent account, you should consult with an attorney. Search for a lawyer who specializes in debt collection law. They can help to protect your rights as a debtor. A lawyer can sometime help you to resolve debt problems without the most severe consequences.
