In tough financial times, many a credit customer is finding themselves falling behind on payments to their creditors. But, just because it is happening, does not mean that you have to take abuse from debt collectors.
The first principle is to refuse to allow your accounts to fall that far in delinquency that they are turned over to these bad collectors in the first place. But, that is often easier said than done. It is very easy to find yourself at the end of the month with no money left to pay these bills after paying for necessities like rent, food and vehicles. After all, if you cannot live, what is the point in even trying to pay your creditors, right?
There is a difference in dealing directly with the creditor vs. a debt collection agency. The Fair Debt Collection Practices Act restricts debt collectors and collection attorneys, but NOT the creditor themselves.
The fact is that almost all creditor companies will deal with you in a sane and level-headed manner in order to help bring your account current. It is after repeated efforts have gone unheeded that things can get nasty with debt collectors over uncollectable amounts. The following are things that you can do to help in your attempts to ward off bad debt collectors and their practices in attempting to get money from you.
How to react. The first thing that you need to do is to approach the situation calmly. Remember, that even though you owe money, you hold all of the power in this situation. They have no leverage because they do not have your signature on a payment arrangement with them. Your original agreement was with your creditor and you can always go back to deal with them directly.
Verify the amount owed. Make sure that the amount that is told to you matches what you know. If not, then refuse to discuss further the case unless the amount is agreed upon. Demand a written letter detailing the amount owed. If you enter into an agreement to repay what you owe ALWAYS get it in writing before you begin to make payments.
Never do this. Never allow yourself to be harassed verbally. Hang up if you find that is happening. Never give out anything more than your address. This includes your bank account numbers – always pay via check or debit card which are easier to stop payments on in case of a problem.
These are some basics that can help you if you find yourself in this situation. Be sure to consult your local state Attorney General’s office for more information on what laws are in effect in your state regarding contacts from debt collectors. Almost every state in the union has them and they can help make sure you are not being abused over debts that are owed.
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