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How to Deal With Debt Collectors

from wikiHow - The How to Manual That You Can Edit

How to deal with those pesky Debt Collectors.
What do they want? What do you want? How to find a common solution.

Steps

  1. When a Debt Collector calls, make sure to speak in an even tone.
  2. Ask for identifying information: such as a return callback number, the collectors name, and information about the debt itself.
  3. Remember, if you owe the debt, do not try to wiggle your way out of it.
  4. If you cannot pay the balance in full, tell the collector that right away, this will save any headaches on your part, as well as the collectors part.
  5. Know how much you can afford in any repayment scheme, and keep to it.

Tips

  • There is no easy way out of a debt, regardless of the fly by night operations which you will encounter promising ways to get out of your obligation to pay a legally incurred debt.
  • Remember, a professional debt collector knows more about you than you think, it’s called skip tracing, and it works!
  • Do not fall victim to the idea that shouting, or abusing a debt collector will get them to go away.
  • The laws are clearly on the side of the consumer, but an intelligent debt collector will find a way to make you pay, either voluntarily, or through civil judgment, and garnishment, and/or property liens.
  • The debt collector is not there to insult you, or abuse you, so don’t do it to them.
  • If you feel like you have been mistreated there are remedies available to you, contact the manager of the collection agency. If that fails to get the result you want, contact your local bar association for an FDCPA attorney to aid you.

Warnings

  • Do not buy into the “Get out of paying your debts” schemes that are prevalent on the internet, they do not work, and could hurt you financially.
  • The ONLY approved ways out of debt are to pay, or to file bankruptcy if you qualify.

Things You’ll Need

  • Have pen and paper ready at least near your phone and your door. You want to have everything in writing.

Related wikiHows

Article provided by wikiHow, a collaborative writing project to build the world’s largest, highest quality how-to manual. Please edit this article and find author credits at the original wikiHow article on How to Deal With Debt Collectors. All content on wikiHow can be shared under a Creative Commons license.

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