When A Debt Collector Is On The Phone, A Methodical Approach Is Best
If a bill collector is calling you, your gut reaction may be to ignore the telephone calls. Seems easier to do things that way right? But if you owe money to a creditor, debt collection agents are permitted to contact credit bureaus and report the debt, file lawsuits against you, and should be taken very seriously. Rather than ignore the phone calls, take them head on with a methodical approach. Your first step is to determine why you are being called. Find out where the debt comes from and exactly how much you owe. While you have your debt collector on the line, request their name, the title of the agency, the title of the creditor, the agency’s address, and their fax number. Keep in mind that you have the right to tell a debt collector that you want all future contact to be in writing over the phone, but follow up all requests you make with a written request. One important thing to remember is that if you request that the collection agent doesn’t contact you at all, the debt collection agency has the right to contact you one more time to let you know how it plans to take further action. If you have issues with personal privacy, you can also request that you be the only person who can be contacted. A good idea is to start a file with details and dates of phone conversations and records of when you mail out letters. If you do end up mailing the collections agency do this by Certified Mail, Return Receipt Requested. This way you will know that the letter got to the collection agent because you will get a signed receipt as proof. If you are able to negotiate a re-payment plan over the phone, request the terms of the plan in writing. Any offer that a debt collector makes to remove or adjust credit history should also be documented. Make sure that you are paying the right party. Payments are generally made to the debt collection agency, not the creditor, unless you are otherwise told to do so. Look over the amount that they are asking you to pay carefully, and get an assessment of any interest, fees or charges that have been tacked on. By taking this methodical approach, you will feel more empowered and ready to tackle your financial issues. Mallory Megan works for Rapid Recovery Solution and writes articles on medical collection agencies. |