How to Handle Debt Collectors
Debt collectors can be really annoying so knowing how to handle them can definitely help you.
You must know few facts to be able to fight or handle them well.
Debt collectors generally work on taking commissions. They will be as demanding as possible because they can get large sum of commissions in every debt they resolve. Some debt collectors also resort to harassing and threatening people so you must know how you can handle or fight debt collectors and ease the tensions and strains you will eventually built with them.
If you are not yet prepared to pay your debt at the moment but you also don’t want the recurring phone calls from them, you have the every right to request the debt collector to stop contacting you by phone and just contact you in writing. This is the reason why it is vital that in the initial call, you ask the agency’s address because it is necessary for you to make a request in writing. According to the law, these collection companies are obliged to accept your request and if they do not follow with the request, they will be fined by the local, and/or the state, and/or federal government.
After you have made the phone calls stopped, you can now focus on the debt. You can request the agency to send you via mail the exact amount you owe to the company and also the exact amount after the fees. If the amount of fees is outrageously high, you can trim it down. Collection agency will negotiate and it is always good for them to get something from you than to have nothing at all. The agencies normally buy these debts in much smaller amount so if you will offer them half the amount you owe, it is possible that they will accept it. However, remember that debt collectors will push you on paying the full amount but you can still reduce it. When paying, get them the documents of settlement so that you will have the proof that you already pay them.
The laws for debt collectors’ states that they cannot simply refuse you to provide their agency name, or curse you or use languages that are threatening, or refuse to reply on your writing, or even harass you with arrest or jail. Debt collectors know these rules but they don’t follow these rules and force people to pay debts because they are harassing them on phone calls and some debt collectors are even threatening them on claims or arrest and jail. Just remember that even you owe company money, you still have some rights and they must follow certain rules when collecting bad debts.
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